For Sellers - Questions to Ask a REALTOR®
Finding the right REALTOR® to sell your home will mean the difference between a job well-done; done efficiently with your home exposed to all potential buyers and sold for the highest value; or a home that lingers for sale for months with little activity and no offers. Your home is the most expensive asset that you own - who do you want to entrust it to? These questions to ask a REALTOR® below are a great way to determine the calibre and quality of the agent you will be choosing:
- How many years have you sold real estate?
This determines their level of experience (a seasoned agent with many years of experience knows how to structure offers to keep you safe and steer you through difficult transactions).
- How many years have you sold real estate in the Niagara Region?
Local knowledge is imperative as property value is first determined by location and desirability of an area.
- Have you sold homes in this neighbourhood?
Prices may vary in different neighbourhoods as supply and demand and area preferences determine value.
- How many homes do you sell each year?
A lot of sales indicate an agent who is not motivated by lack of income, but by their personal reputation and the quality of the job performed.
- How many agents are in your office and what is your ranking?
Are they ranked number 1 in an office of 5 agents, or 50 agents?
- What are your personal market statistics?
How many homes do they sell each year?
What is the average percentage of agent's list price and sale price of listings sold?
What is the average time it takes to sell a home (vs. MLS average)?
What is the agents' average list price?
- What percentage of your business is repeat, referral?
A good track record of satisfied clients speaks volumes.
- Will you provide me with references from current or past clients?
- How do you determine how much my home is worth?
Does the agent have a list of area sales or comparables? An in depth analysis of your home and its value? An assessed value of your home or an adjusted sales value?
- What is your marketing plan to sell my home? Is it detailed and clear?
Where does the agent advertise and how often? Do they use internet marketing and on how many websites? Do they use other internet MLS promotions, social networking or agent and buyer networking?
- How do you find Buyers for my home?
What is their source of Buyers?
- Do you know the current market trends and how they will affect the value of my home?
- What is the total commission that you charge?
What is the value of peace of mind?
- What commission rate will you be offering to the Selling Broker?
- Do you negotiate offers or does someone else?
If the agent is part of a team, whom else will you have to work with?
- Do you have your own personal support staff or do you take care of everything?
- What are the top three things that separate you from your competition?