Top 10 Questions You Must Ask Before You Hire A Real Estate Agent, Or You Could Lose Big!

I don’t know how many houses you have sold now. But, like most other people, this could be your first time Selling a home. With limited experience in real estate, how will you be capable of maximizing the profits from selling your home?

After some researches, you decide to hire a real estate agent to sell your home for you. However, you aren't sure what kind of agent to hire. It is a critical to hire a right agent for your success in selling your home.

A lot of home sellers make the critical mistake of thinking all real estate agents are the same. They list with agents without careful interview, screen, or checkup. Some of them possibly don't know how to hire a right real estate agent.

In my previous blogs, I wrote about what kind of agents are right and wrong ones. After reading that you will be able to tell a right agent from wrong one.

Right now, it comes out a question: What questions should I ask before I hire an agent during my interview with a real estate agent?

Here are the top ten questions to ask before your hire a realtor:

1. Would you please send me some information about yourself and your business? 

Pay attentions to the time it takes to for them to respond to you and what materials they send. This question helps you to eliminate the agents who don't respond in reasonable time and those don't have professional materials about their own business.

If a realtor doesn't have time or doesn't answer your request that could bring her/him business, how would you expect the realtor to respond to your buyers or buyer agents?

if they don't have professional materials about their own, how well are they going to market your home?

2. How many homes have you listed and how many homes have you sold in the last 12 months?

This question gives you the idea how an agent performed in last year. Pay attentions to how many houses the agent sold. Listing a lot doesn't necessarily mean the agent could sell a lot. You want some one who can list and sell.

3. What is your average length of time from listed to sold and what is the ratio of your listing to sale price?

You should look for some one who can sell fast and can sell at a sale price very close to asking price. This could mean that the agent knows how to market it and price it right.
4. How long have you been in business and how many house have your sold over all?

The length of time a real estate agent has been licensed is not a sure fire sign that they’ve been an active seller. They may have been in business for 10 years but only sold 10 houses, whereas an agent who’s been in business for 1 and half years may already sold 4 houses. Which one would you prefer?

5. How would you handle your daily home calls and how long it will take you to respond a voice mail message?

It is fine if an assistant answers phone calls. Sometimes, it may also mean that the agent may have a lot of business. But do trust on that. Pay attentions to how long it takes for an agent to respond after a message is left to the assistant or the agent's voice mail box. Some agent may not have an assistant, but the agent can be reached all the time through cell phone by buyers/ buyer agents.

6. How would you market my home for sale?

No marketing, no sales. Just listing on multiple list service (MLS) and placing a yard sign in front of your house will not automatically sell your home. There are many ways to market your house effectively. Pay attention to how many ways are they going to market your home. If you don't know the ways on how to market your home effectively, read my blog on that by clicking here.

7. What listing price would you recommend and what is that price based on?

Pricing is the most critical step to selling your home. Take great care in choosing an agent with the knowledge to price your home right. The one who list your home at the highest range in your neighborhoods without giving you a good reason, could be the one just want to please you and get your listing. Keep in mind the selling price should attract prospective homebuyers to your home, get you top dollar in the current market and reflect the condition of your home.

8. Would you explain to me what is "exclusive listing" and what is "exclusive rights to sell"? 

All agents want you to sign an agreement with exclusive rights to sell to protect the listing agent's right which may or may not in your benefit. If they want exclusive rights to sell, you should also want their performance. I will write a blog on how to sign a right agreement with a listing agent so you can easily to fire the wrong one. So stay turned.

9. What commissions will you change me?

There is no rules on how much commission an agent should charge. Commission is customary around 6% and is always negotiable. You may want the scaled commissions which is totally depended on the performance. I will tell you my secrete on how to do scaled commissions in my next blog on how to sign a right agreement with a listing agent. So stay turned.

10. What types of things separate you from your competition and would you provide some reference?

Give the agents an opportunity to present themselves if they are good marketers, and negotiators, and good producers. Then verify what they said through reference checking.

Related home selling tips on hiring a realtor:

http://besthomesellingtips.com/2007/08/14/how-a-right-real-estate-agent-looks-like-to-sell-your-home-fast/

http://besthomesellingtips.com/2007/07/21/what-kind-of-real-estate-agent-is-not-good-to-sell-your-home/

 

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