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For
many people, selling their home is a big ordeal. There are a lot of decisions
to be made regarding the old home, the new home, the kids, pets, etc.
During such a traumatic time, most people need professional help. They
need an expert to walk them through the process and give good advice on
the myriad of associated decisions.
You should look at the process of hiring
your professional much as you would look at hiring a new employee. In
fact, you need to think of yourself as the CEO of Homeseller, Inc. Your
goal is to hire the best possible person for the job.
During the "job interview" or listing presentation,
the following questions might help you to make a good hiring decision.
1. What is your track record in my area/neighborhood?
Ideally, you will want to see some tangible evidence that your agent has
the experience you need. Experience in real estate is better measured
by the number of transactions versus the number of years in the business.
Consider this track record as you would a resume. You need an agent who
is knowledgeable about the nuances of your particular neighborhood, area
and price range.
2. How will you market my property?
For many agents, the full extent of their marketing plan is a lockbox,
sign, and multiple listing service. Admittedly, these are the most important
things needed for getting your home sold. However, you will want to inquire
about advertising and Internet exposure. The Internet has become a very
important resource for home buyers. It is important that you have good
exposure there.
3. What happens when someone calls your
office about my home? Is it answered by a "duty agent" that has more
incentive to tell the buyer "That one is nice, but I have another that
you might like (their personal listing)." You want to know that capable
professionals that have no "ulterior motives" handle the phones.
4. What can you do to help me get my home
ready for showings? At a minimum, you need an agent that can walk
around your home with a critical "buyer's eye" to point out improvements
you need to make. This might include simple things such as removing clutter
and streamlining closets. Or, it might include more costly things such
as replacing carpet or having the interior of the home repainted (these
two things help a lot, by the way). You really don't want someone who
tells you everything looks great. And, don't be sensitive! Negative comments
don't mean that the agent doesn't like your home.
5. What is your cancellation policy?
To hire an agent, you enter into an "Exclusive Right to Sell" agreement
AKA listing agreement. This is a contract and you are bound to the terms
of the contract —-
listing for six months, paying a commission, etc. You need to know what
can be done if you are not satisfied with your agent's performance. In
other words, how do you fire your agent if he or she is not doing what
they said they would do or otherwise not performing to your satisfaction?
To protect yourself, you want to look for a written agreement that allows
you to cancel with reasonable terms —- minimal
fees, days, etc.
6. How did you arrive at my recommended
asking price? Do you have solid comparables to support it? Just because
you and the agent agree that $350,000 is a reasonable asking price, it
doesn't mean that a buyer will. Even if one does, it doesn't mean that
an appraiser will. You must have solid data to back up your asking price.
Keep in mind the following: there is a two-day price, a two-month price,
and a two-year price. Most sellers should price their homes in the 60
—- 120 day range.
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7. How many showings
would you expect my home to receive during the listing period (weekly
average) and what will you do if we aren't getting enough? If your
home is getting very few showings, it is likely due to one of three issues
- your home is overpriced, it is in poor condition, or the agent is not
marketing it properly (or a combination of the three). You need to know
how your agent will monitor your showings and what he/she will do if there
is a problem.
8. How do you "service" your listings?
How will the agent report to you during the listing period? It is smart
to establish up front how you will communicate —- will the agent
be calling you or sending you written reports? How frequently? Does the
agent do feedback calls? Some agents have the systems in place to allow
them to get good feedback from the buyer's agents that have shown your
home. You need to know if this is a service that your agent provides.
Sometimes buyer feedback can provide very valuable information.
9. Do you have a system in place for making
sure things go smoothly after my home is under contract? You might
be surprised to know that it is after your home goes under contract
that the most crucial aspects of the agent's job come into play. How does
he or she follow-up with the buyer's lender? How does he or she make sure
that you have all your ducks in a row for closing? Generally, you will
want to look for an automated or written checklist that will assist with
these all-important details.
10. Could you provide me with references
of satisfied clients? Just as you would do in a job interview, you
need to ask for and check references. Although this agent might sound
and look good, you need to check him or her out. Written or recorded references
can be adequate and can save you a lot of time tracking people down.
Other factors you want to consider when hiring
your agent include the following.
· How do you
know this person?
· Is it a friend or
someone you know from church or other social setting?
· How are you going
to feel later if things don't go well?
· Are you going to
be able to fire your friend or your teammate?
· Did someone you trust
refer them to you?
Although you certainly want to hire someone
you like, it is probably smart to hire someone with whom you can maintain
a professional relationship. Remember that you are the CEO, the boss.
Ask yourself, will I be comfortable being the boss of this person?
You may also want to ask your agent about
his or her support team and the areas of expertise with which his or her
office can be of assistance. The inherent complexity of real estate transactions
today (e.g., taxes, legal, financing, relocation company involvement,
etc.) demands an agent who can address all of these areas.
Good luck in your hiring effort. A good
agent will become your right hand during the listing period —-
keeping you informed and watching out for problems
that might arise.
As the number one seller of homes in the
30189 zip code area, Gina Carr Kyle is recognized as the expert in selling
Towne Lake area homes. We hope that you find this information useful and
that you will think of us first when you need to buy or sell real estate
in the Towne Lake area. Please see our ads throughout The TowneLaker,
which is also brought to you by the owners of CENTURY 21 Advantage, Gina
Carr Kyle and Don Kyle.
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