Selling your home can be a daunting task, not knowing where to start, getting tangled in the web of paperwork, and trusting the agent you hire is working for you and not their pocketbook.
The realtor you choose to help you sell your home can make or break the deal. Your agent can be the difference of:
• Tens of thousands of dollars in your selling price (sometimes more)
• Selling quickly vs. having your home sit on the market • A stressful home selling experience vs. a smooth transaction
But the problem is you are forced to rely on the seller’s reputation as an agent, how many properties they have sold, and their online reviews as the only way to get an idea of who you are putting your trust in.
While these are essential factors in your decision-making process, they can be deceiving because experience and reviews do not mean a real estate agent will have your best interests at heart when selling your home.
I will show you the best way to select a realtor to sell your home. Follow these steps below.
1. Meet with minimally three realtors
Studies show that most people selling there home chose their agent without speaking to others first.
This makes sense because who wants to spend time bothering friends and family or repeatedly searching through countless agents and going through the vetting process. But unless you have industry expertise and know exactly what to look for, you’ll want to invest the time finding a realtor.
Only speaking to one real estate agent will increase the probability of you picking the wrong listing agent. You’ll boost your chances of choosing the right realtor by finding enough quality candidates.
Ideally, it would help if you met with several agents you can add to your initial list; this gives you a better idea of who you want to work alongside.
2. Research the agents online
Once you have your list of at least three realtors, the next step is to do a little research. The goal is to save time by weeding out the agents who don’t meet the minimum criteria.
What should the minimum criteria be? Experience and reviews.
You don’t want to end up with a rookie who has minimal experience selling your most valuable asset, especially in an
aggressive market when you will be competing with other listed properties and other home buyers.
3. Interview qualified candidates
Approach choosing a realtor similarly to preparing for a job interview because that’s what it is.
Interviewing potential candidates allows you to gather critical information before deciding who you want to hire to sell your house.
Many sellers miss this because they don’t necessarily know what questions to ask. This is one of the things that causes them to pick the wrong listing agent.
Here are a few suggestions…
How did you arrive at your suggested listing price?
You’ll get opinions about what your home should be listed for when meeting with real estate agents. However, you don’t just want a number. You want to hear about how they came to that number.
If an agent can’t explain “how,” there’s a good chance that they won’t be able to defend their recommended price (or higher) when speaking to the buyer’s agent during negotiations.
How many homes have you sold like mine and near my location?
You want to get a rough estimate of how many sales that agent has similar to yours and in your area. What I mean by this is property type, value range, and proximity. This will give you the confidence knowing they understand the actual value of your property and be able to back it up with accurate market data.
How often have you represented the seller and buyer in the same transaction?
There are tactics used by many listing agents who prioritize this so that they can get two commissions instead of one, which can result in a much lower sales price for you.
Will you lower your commission?
You’re putting the agent to the test with this. The person you’ll hire will be negotiating tens of thousands of dollars for you. If they can’t negotiate their value, what makes you think they will negotiate yours? You want to listen closely to their immediate reaction and take note of how they respond.
Do you have references I can contact?
An excellent real estate agent will always have past clients who are willing to vouch for them. Request the names, emails, and phone numbers of three previous clients who have sold a home with that agent.
What’s your marketing plan?
Not all real estate agents provide the same services, so you want to know how each agent plans on marketing your home to buyers.
Choosing the right real estate agent to sell your house matters, and your decision will significantly impact the results you get and how much money you walk away with.
So don’t devalue the importance of doing your homework. It could be the difference between your profit margins.
Let’s connect and discuss your next real estate venture; I would be happy to answer all of your questions and get you the most significant return on your most precious investment.