How to Select a Realtor?
Choosing a Realtor…
Real Estate like many industries changes quickly. Look for a Realtor that is knowledgeable of the market and knows the trends of the marketplace. They should be members of professional organizations, committees and attend education regularly. Realtors should have designations. They should use and be familiar with advanced technology such as digital cameras, laptop computers and the Internet. Their marketing materials and advertisements such as proposals, letters and postcards should look professional and be of the highest quality.
A Realtor adheres to a strict code of practices and ethics and is a member of the National Association of Realtors. Do you trust this person to market your most valuable asset?
A Realtor should explain and have you sign an Agency Disclosure Statement as soon as you begin to work together. It is so important to understand whom an agent represents and what their fiduciary responsibilities are. How well versed are they in agency? If they can explain this thoroughly and make you feel comfortable, it is probably a good indicator of how they conduct their business.
If it sounds too good to be true…then it probably is! Watch out for realtors who “try to buy your listing” by suggesting a high list price. A high price guarantees that your home will take longer to sell, be viewed by less prospective buyers and earn the stigma of being overpriced. A realtor should provide you with a “Complementary Market Analysis” to help you price your property correctly. This analysis will not give you an exact price, but a range that you may expect to sell your house for.
Beware of those agents that accept a low commission rate. Nothing is free and chances are you will not get the breadth of services you need to successfully “Market” your home and get the price you are seeking from the “right buyer”.
Secondly, if an agent does not offer a fair and competitive commission fee to the buyer’s agent, then chances are your home will not be shown as often as a home that pays out higher commission to the buyer’s agent.
Never agree to an “Office Exclusive”. Some realtors try to sell their own listings to their own buyers by asking you to agree to not put your home in the Multiple Listing Service right away. This is not in your best interest. Seeking the greatest exposure for your home improves your chances for the best buyer and the best price.
Deciding to hire a realtor should be a “business decision”! Your home is probably one of your most significant assets and although we all may have friends, family members and neighbors who are realtors, you will need someone who will net you the most money for your home, be your advocate and manage the transaction smoothly with strong negotiation skills. So let us meet because I can guarantee you that what you will learn at our meeting will change your perspective on real estate and place you at a significant advantage over your competition!
Choosing a Realtor…Ask Questions and Interview the Prospective Realtor?
1. Are you a full time Realtor? How many years have you been selling real estate?
2. Are you licensed as a broker or realtor and what Boards are you a member of?
What designations and classes have you taken? When?
3. How do you stay current with what is happening in the market?
4. What towns or areas do you primarily service?
5. What properties have you listed and sold recently?
6. What is your sales track record?
7. What Multiple Listing Services are you a member of?
8. Do you have a written Marketing Plan that is guaranteed? What is the process for handling issues in case I am not happy with your services? Can I cancel my listing agreement with you?
9. What will be your advertising strategy for marketing my home?
10. What web sites will my home be advertised on? (Don’t be sold on a personal website. They do not offer the same exposure as national and international well-known websites.) How many websites?
11. How many photos will you take and put on these websites? Ask to see sample photos and look at the quality. Do you take the pictures of my home or a professional photographer? Do you offer a virtual tour?
12. Do you provide colorful and attractive brochures? Look at the quality of the photographs and the quality of the written descriptions.
13. Will you conduct my open houses or someone else? Will you be at all inspections and at the closing?
14. What is your response time regarding phone calls and e-mails?
15. What other services do you offer before, during and after the sale?
16. How are you notified regarding a prospective buyer who sees my home on the Internet?
17. How will you handle buyers that you source directly? Will you represent us both in the same transaction?
18. What is unique about you and your services?
19. Is your company regional, national or international?
20. Does your company offer relocation services?
21. Does your company offer concierge services to help simplify my move?
22. Do you have a list of references that I can call? May I see your customer satisfaction feedback form?
23. If all of the questions are answered satisfactorily, ask yourself if this person seems professional, flexible, creative, and trustworthy. Does this person look like a leader and appear consultative? Do you think they will work hard for you and represent your interests at all times? Do you think that other people (buyers, realtors, lawyers) will find this person cooperative and easy to work with?
© 2001-2017 Reliance Network and RE/MAX of New Jersey.
All rights reserved. US Reg. Copyright TX-5-910-991, TX-5-910-992, TX-5-910-993, and TX-5-910-994.
Each RE/MAX® Office is Independently Owned and Operated. Equal Housing Opportunity.