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If you've never sold a home before, the real estate world can seem
intimidating... especially if you don't know where to start. Perhaps you're
hoping that the real estate fairy will come and whisk you through the home
selling process. Unfortunately, she's overbooked. Instead, you're going to
have to get out there and find a suitable agent. You're probably full of
questions. Don't panic yet. We're full of answers.
Where do I look for potential agents?
Look for agents who have a market presence in your neighborhood. Agents
"farm" certain areas, making them experts in certain neighborhoods, types of
homes, or even special clientele, such as seniors or first-time homeowners.
Look for an agent with expertise in your neighborhood for your type of home.
- If you know an agent, or one of your friends raved about theirs you should
think about contacting them first.
- Check out advertisements. In the homes section of the newspaper, agents
will advertise their listings and sometimes the homes they've sold. See which
agents have the most listings/sold homes. Busy agents are good agents.
- You can also look on our web site for agents in your area. Just click on
"AGENTS" and this will take you to a list of states. Next, select the city
you're closest to/in. A list of agents will show up. There's even a link
there to tell you what all the letters after an agents name mean. Also, you
might try www.realtor.com which has a similar setup.
I don't know any agents. Should I look for someone with a small company or a
big franchise?
Bonnie Sparks' book: If
you're clueless about selling your house and want to know more, published
by Dearborn, points out that some people "prefer independent agencies because
such companies can operate in ways that are tailored to the customers in their
local markets, without kow-towing to a home office halfway across the country."
Boutique companies often have a stronger market presence in their niche than
larger companies with more agents. Just make sure your type of home and your
neighborhood match their niche.
Other sellers prefer franchises because of their large networking
capabilities and advertising budgets. For example, Coldwell Banker puts all
their listings on the Internet, matches the criteria to buyers' requests, and
then emails them when homes are listed meeting their criteria.
I've found several agents I'm comfortable with... how do I choose just one?
Bonnie Sparks' book also lists seven questions which help "clue you in on how
competent the firm is and how it conducts its business."
- How many years have you been in the business? Just because someone's
been in the business for a long time doesn't necessarily mean that they're
good. You don't want an agent that's just been skimming by for the past 15
years. However, these agents usually will have built up a reputation and be
able to provide recommendations. But don't overlook the agent who is just
starting out - they can be more excited and motivated, and more able to give
you personal attention.
- What professional designations do you hold? This is where all those
letters at the end of a name (Jane Doe, GRI, CRS, ABR) come into play. These
are designations that indicate an area of expertise. It means that the agent
has put in extra time to learn their trade and has earned the designations
through experience and passing tests. The letters, however, are only
significant to you if they mean the agent is more qualified in the areas you
need. An ABR, for example, is great if you are looking for a buyer's agent, but
as a seller, you will be more interested in a GRI, or a CRS. Ask what the
letters mean and how the designation benefits you as a seller.
- How many sellers do you currently represent? A busy agent is a good
agent....most of the time. You don't want an agent who has 50 bajillion
clients because then they're going to have less time to spend on you. Find out
what kind of staff they have to support the number of listings they have. Howev
er, someone with only one client is not necessarily a good thing.
- How many properties have you sold in the last year? What type of
properties were they? Whatever they answer this question with will really
help you compare them to other agents. Ask how long, on average, it took the
agent to close these deals. You probably want your home to be sold quickly.
Just as you found out what types of homes the agent specializes in, find out
the price range of homes they generally sell. If they specialize in selling
million dollar homes... your condo will probably very low on this agent's totem
pole.
- Can you provide me a list of references?Check with the agent's
former clients and see if they were satisfied.
- Do you work on your own or are you part of a real estate team? If
the agent is a part of a team, this can work to your advantage because you have
the other members working to sell your property as well, and you don't have to
pay any extra. Just make sure to meet with the other team members if this is
the case. You want to get along with everyone in the team. Find out who you
would contact for all phases of marketing and closing. A good agent will make
sure that she or he is always available to you, so that you aren't left hanging
for answers, or getting response calls from people you don't know. If you find
you are always talking to an assistant and never to the agent you hired, you
may be understandably frustrated. A good agent will never let that happen.
- Is there anything else you'd like to tell me about yourself, your
company, or your career? This is where you give the agent an opportunity to
get all warm and fuzzy with you. A "bonding" moment, if you will. You want
your agent to be someone you can trust, and feel comfortable working with.
Really examine their personality.
Sparks says that once you've interviewed all of the potential agents, narrow
the list down to about three. Then ask these three agents to put together a
formal presentation for you. "This presentation should include a comparable
marketing analysis (CMA). The analysis lists the selling prices of houses
similar to yours and is used as a guide for you and your agent to determine how
to price your place. The presentation should also include an overall
marketing plan for the house."
Based on the answers the agents gave at the interview, and the way their
presentation looks, you should be able to confidently choose an agent. It's a
bit of work, but in the end, it will ensure your happiness with the chosen
agent.
For more advice, check out the Realty Times Find an Agent section of articles
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