Taking down the FSBO sign
You’ve tried to sell your home by yourself and gotten nothing but the periodic low-ball offer and an occasional case of heartburn. It’s time to turn to a professional—someone with experience and a plan—so you decide to hire a REALTOR® to list and market your home. But are you getting the service you expect? Be sure that your REALTOR® is a good match for you by conducting an informal interview.
The first question you may want to ask a REALTOR® is, “Why hasn’t my house sold?” Not only will you get professional insight, but you also can use the answer to gauge the Realtor’s personality, expertise, and knowledge of the local market.
After that question, start with the following list and build on it.
1. How long have you been selling real estate? Find out how much experience this REALTOR® has, not just how long she has been in the business. Also, ask if your REALTOR® has any designations, certifications, or other areas of expertise, as this may be indicative of a higher level of knowledge, dedication, and professionalism.
2. Do you have references? Beware of someone with no references or references only from family members.
3. What services will you provide? Make sure you understand the nature of your business relationship. Review the listing agreement. Know for sure what you’re paying for and how you will pay for it.
4. How will you communicate with me? In today’s connected world, instant communications are becoming increasingly important and can be the difference between an offer and a near miss. Whether you expect to be contacted by phone, text message, e-mail, or instant message, make sure you and your prospective Realtor are in sync on how—and how often—you will be in contact.
5. What is your marketing plan for my property? What is your online presence? Where do you advertise? How quickly do you follow up on leads?
6. What are some current market statistics? What is the average time on the market for this area? For your listings? What is your ratio for sales price to listing price?
Finally, ask that agent if she is a REALTOR®? You may be surprised to learn that not all real estate agents are. Only those who subscribe to a strict code of ethics may call themselves REALTORS®.
When you enter into any business agreement, all parties benefit by going through a simple Q&A process. Don’t be shy about asking—this is a huge transaction, so get your questions answered and find the best person for the job.