The Real Estate MarketPlace

9 Things You Must Ask a Realtor (When Selling)

 There are several things that you must ask a Realtor when considering the sale of your house. If you’re doing things right, you will probably talk with several agents. This is a good list from which to draw when you are talking to the agents. I’ll give the things to ask, followed by a brief description of why that question is relevant. Without further ado, here are the questions…

1.  Could you tell me about yourself? This question just gives you an idea of who you’re talking with. It’s important that the agent has competence and integrity, and it’s icing on the cake if you like the agent as well.

2.  Are you a full-time Realtor? This kills two birds with one stone. If the agent answers “yes” you know that they’re not just doing this on the side and devote their careers to selling houses just like yours. You also know that the agent is a Realtor. There’s a difference! All Realtors are agents, but not all agents are Realtors. An agent who becomes a Realtor pays a significant amount of money each year to belong to the Multiple Listing Service. This is the computer service that gives all other Realtors access to information on the properties for sale in the area. If the person you are interviewing is not a Realtor, then your house will not be very accessible to other real estate companies. If either of these answers are “no”—run, don’t walk away.

3.  How many transactions have you taken part in? Obviously, this goes to show the experience of the Realtor. Over 100, then you should be safe. There are exceptions to this, but it gives you a better idea how often they’ve done this.

4.  Do you have a staff? This is a sticky question. Most Realtors are “one-man shows” meaning they work with all of the buyers, sellers, and property management themselves. I used to run myself ragged working on my own, until I realized I wasn’t giving the best service to my Clients. Now, with a staff of others, I can devote all of my time to getting homes SOLD. An answer of “no” shouldn’t automatically disqualify a Realtor, but keep it in mind when making your decision.

5.  How do you plan to market my home? Whoooh, this is a big question. Sit back and enjoy, and compare the answers to others. Look out for the “P,P & P” answer here: Put a sign in the yard, Put it in the computer, and Pray!

6.  Should I order an appraisal beforehand? Why? This is a matter of opinion and practice between different Realtors. I am a fan of (usually) NOT ordering an appraisal before an offer is put in on a home. Why? Because a lot of times, appraisals can LIMIT how much you can get for a property. As long as a ready, willing and able buyer puts in an offer on a home, and it's considered reasonable by an appraiser--then the appraisal will usually gravitate towards the contract price. If you get an appraisal too early, the sales price may not be as high. The exception is when a property is in disrepair and we need to figure out what repairs must be done for the bank to loan money on the property, or if there are no "real" comparables on the market.

7.  What price would you market my home for? Another big question here. Don’t list with the highest “bidder.” Make sure the Realtor has cold, hard facts on exactly why your home should be priced at a certain amount.

8.  How much will I be looking at “netting” when all is said and done with this transaction? The Realtor should be able to work this out for you fairly accurately. Beware, if they say the entire cost of selling your home is a lot less than 12-13% of the price of the home. They’re probably underestimating your closing costs. It’s best to under promise and over deliver. So the conservative figures are usually the most accurate.

9.  All right, tough guy! What makes you so special? Why should we list with you? This is kin to the “final statement” in a trial. Sit back and enjoy their answers, write down what they say and promise, and then call The Real Estate MarketPlace!!!

That’s it for the 9 things you must ask a Realtor. We hope this information is helpful, and if you’re reading this in anticipation of selling your property, we’d love to interview for the job. If you’d like to find out what we can do in the sale of your house, call our Free MarketLine at (800) 722-9102 and enter code 9699 for a 24-hour FREE recorded message that details what we can do for you. Or, you can click here to be taken to the page that details part of our listing program.

Thank you for your time, and we wish you the best of luck!

Warmly,

 Chip Franks