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Nine Questions Real Estate Agents Fear Most
Before you talk with an agent, ask
yourself, "Who is my agent? How will I select the agent to represent me in the most important financial
transaction of my life?"
What questions should you ask when
selecting an agent?
The Real Estate industry has done a great job of marketing
itself, but a lousy job on informing homeowners how to select the
best agent to give them the advice and assistance they need when it
comes time to sell their home.
Here are the questions you should be
asking every agent you talk to.
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- May I see your written
marketing plan? A good agent has a detailed,
step by step plan for marketing your home. If they
don't have one, how are they going to market your home?
- What is your average
market time, and what is the area's average market time?
A shorter than average market time indicates that an agent
knows how to properly prepare your home for the market and
present your home to prospective buyers.
- What is your pricing
philosophy? Some agents will tell you an
inflated listing price, only to pound you for price
reductions later. Homes priced properly from the
start sell faster and ultimately result in higher profits
for the seller. Check the history of the agents past
listings to see their history of price reductions with
their other sellers.
- What is your list price /
sale price ratio? If the agent has a history of
accepting low offers on their other listings, are they
going to pressure you to take a lower price when an offer
comes in on your home? Ask your agent for the market
statistics and then compare them to the statistics of your
agent.
- What percentage of your
listings expire or are cancelled off the market?
Why? You're hiring an agent to get your home sold, not
just put it on the market. If the agent has had
homes expire, it may indicate that they were not priced or
marketed properly. Cancelled listings can indicate
that other sellers were not happy with the service of the
agent.
- How will you communicate
with me? A good agent has systems in place to keep you
up-to-date and informed throughout the sale of your home.
How often will they be in touch with you? How will
they communicate with you - email, phone, fax? What
information will they be regularly giving you?
- What happens to my file
of you go out of town, like on vacation? Some agents
simply let your file sit on their desk over the weekend or
while they go away. A good agent will have systems
to take care of your home while they are away from the
office. Find out how the agent protects your
interests while they're away.
- May I talk with other
sellers you currently represent? Don't ask for
selected names, ask for the names and number of all the
agent's current clients. Don't accept the old excuse
of 'privacy', a good agent will want you to contact their
current clients.
- May I talk with the three
sellers who have most recently closed? This is the
most important question. These people have gone
through your agents complete system. What were their
experiences? What where their biggest surprises?
Would they use the same agent again? Would they
recommend the agent to a friend?
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Greg
& Beth
Hostetter, GRI
Your Personal Real Estate
Experts
507-287-7777
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