How to Choose a Great Listing Agent
Selecting an agent who will represent you is your most important decision and will determine whether you have a Successful Sale or not.
Most Costly Mistake
Perhaps the most costly mistake sellers make in selecting an agent is to allow agents to “bid” on the listing. In other words, sellers hire the agent who presents the highest estimated value for their property losing site the agent has no control over the market. Think hard! It’s likely a high bid is an exaggeration to attract your business. In the trade it’s known as “buying a listing.” In the end, you’ll be the one who pays because the high price will scare away potential buyers before you inevitably drop the price. It is to the seller’s best interest to choose their agent based on the agent’s integrity, skill sets and the strength of their marketing plan – NEVER because he or she told you a PRICE you wanted to hear. Price is determined by the market and should not be factor in your hiring decision.
The world is full of people who sell real estate. Some are smart, efficient, focused, versatile and willing to go the extra mile. And some of them aren’t. Finding the right agent is your most important decision. Here are some suggested questions to ask to help evaluate possible candidates.
- How will you market it? Running a few classified ads in the local paper, listing it on the Internet and holding an open house shouldn’t be the only answers. The practitioner should be able to talk about what kinds of people are likely buyers and how he will reach out to those specific people.
- What’s your specialty? If you’re selling a starter home in a community full of young families, hiring an agent who specializes in seniors is probably a bad idea. It doesn’t mean that if he only sells condos that he can’t sell a house, but he may not be geared up to do the best job.
- How many people are you selling homes for right now and what are you doing for them? It may not be a bad thing that a high-powered agent is juggling 15 homes, but don’t expect her to give you personal service, although her assistant should be attentive. On the other hand, be wary of an agent with no other customers because she may lack experience and contacts
- What do you expect of me? A good salesperson will have expectations. He may want you to leave and take the dog when the house is shown, paint the garage, move some furniture around and scrub the tile in the bathroom. It shows that he can think like a buyer and that’s a good thing.
- What’s your fee? What do they charge and are they worth it?
- Can I talk to one of your previous clients? It is good to talk to others – You never know.
In Summary
The “Determining Factor” whether you will have a Successful Sale or not is the selection of your agent. If you choose wisely everything else will fall into place.