If you think buying a home is tough, try selling your own. Buying usually gives you due advantage during negotiations, but selling can be more challenging. In real estate, the seller usually takes the brunt of finding the right buyer and facilitating transfer of documents while obtaining a lucrative deal as planned.
With much of your time spent on your business or work or an impending transfer, finding time to sell your property in a fast yet productive manner can be best done with a real estate agent in tow. With hundreds of “expert” agents out there, finding one that can deliver what you need can be daunting. But this dilemma can be used to your advantage by simply asking the right questions.
1. Are you an accredited real estate agent in the state where the sale should be done, for how long and how many successful sales have you done in the past 2 years?
It is important to check on a realtor’s credentials vis-à-vis state accreditation, references and reliable sources. Accreditation by the National Association of Realtors would be a plus. Like everything else, experience does matter when it comes to facilitating real estate sales.
Though it does not necessarily follow that more established realtors are better than new ones, a realtor’s experience will help you gauge efficiency and turnaround time for property sales. Of course, the number of successful deals complete with references will help you verify if the realtor can live up to the demands of the current real estate market and your expectations.
2. Do you operate locally? If so, how do you plan your sales strategies?
If you are selling a property in Pennsylvania, it would be a total waste of money to spend time and effort with a New York realtor. An agent operating locally usually has enough information on the current real estate demographics, demands, and local marketing solutions to amplify the sale. Make sure to ask how he plans to sell. Dig deep into his marketing tactics, home staging, and other initiatives that quickens the pace of the sale process.
3. What is your selling method?
There are many ways to sell your property using a realtor – auctions, EOI, POA, tender agreement, or direct selling ( i.e, from realtor to buyer). Unless you will be selling your property “as in”, ask carefully if renovations, upgrades o r repairs are necessary.
4. Do you work alone or with a team? Communication method?
A real estate agent no matter how adept in dealing a real estate market should never work alone. Tons of workload awaits them. Whether working with actual or virtual assistants, a realtor must always have a team that does paper transactions, online marketing, and various data management solutions.
This gives realtors more focus on his or her core competencies like negotiations, renovations, and arranging an open house. Keep in mind also the communication method and by how frequent. Look for a realtor that provides an open communication line with constant update to his client.
5. How do you charge your commission and by how much?
Normally 3%-5% commission is rewarded to real estate agents but this can be negotiable and can highly vary from state to state. It can also be fixed or according to tiered percentages. Always analyze its impact before signing a deal. Choose one that can deliver great value to your property.
Indeed, selling your home or any real estate property can be an overwhelming experience. Having a capable real estate agent as an ally in this quest is a wise move. By asking these questions, you can ensure finding the right person to entrust your property, way for a quick sale, and more value on your property