Thinking of selling ? You'll probably interview one or more agents.
You'll have them out to your house, receive their opinion of value, and
talk about market conditions. Among these agents may be your next door
neighbor, your sister's best friend, or some other family acquaintance, who
just happens to have a real estate license.
Before you sign a listing contract with anyone, you should ask the
following important questions. This list grew out of an informal survey in
which Sellers and Agents identified those areas that caused the most
friction or problems in their relationship. By having the answers to these
questions up front, you can avoid misunderstandings, save yourself some
grief and aggravation, and make certain that what you get from your agent
is the same as what you expected.
Warning: when first asking these questions, you might encounter "the
squirm". Some agents may not be prepared to answer such straightforward
inquiries. Don't be uncomfortable. As a seller you have every right to
know these things, and any professional agent should be happy to provide
you with the answers.
1. Are you a full time professional, or do you have another job besides
selling real estate? Many, many people sell real estate "part time". While
this is no crime, it's no great virtue, either.
2. Do you have a specific marketing plan for my house, and will you commit
to it in writing? Find out, ahead of time, exactly what your agent will or
will not do to sell your house. Does the agent's plan include featuring
your home on the Internet, as well as aggressively marketing the property
in your local area?
3.Who determines how much money will be spent on advertising my home, and
what is that figure? If seeing your house in print every week is important
to you, then ask - up front - if your agent makes those decisions. In many
cases, the owner/manager decides which properties are advertised. If this
is so, then your home may only be featured sporadically, if at all.
4. What financial resources or connections do you have for assisting
marginal or unusual buyers ? While all sellers want buyers with whistle
clean credit and a 20% down payment, experience shows that many viable
buyers do not fall into that category. Find out if your agent is
knowledgeable, and prepared, to work with all buyers, whether AAA or
marginal.
5. Do you have letters of recommendation from past clients, and may I call
them? Get the references and make the calls. One of the best ways to
discover how someone will perform in the future is to investigate how they
have acted in the past.
Including this short list of questions in your initial interview with a
real estate agent can be an eye-opener. Hopefully, the answers given will
raise your comfort level with the agent, and contribute to a profitable and
enjoyable real estate relationship.
Published: July 3, 1998
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