Category Archives: Selling Your Home

Key Questions Every Seller Needs to Ask Before Choosing a Real Estate Professional (Part 2)

This week we continue with our series of the list of questions you should ask prior to hiring a real estate professional to help sell your home. Last week we asked, “Tell me about your experience and philosophy of doing business.”, “What resources does your company provide to help get my home sold and closed?”and “What is your marketing strategy?” The following questions will help you round out the interview process to better understand the agent you decide to hire.

  1. What is your negotiation strategy when an offer on my home is received? You need to know what the agent plans to do with an offer. How does he plan to present it to you? What questions have been asked of the other agents and lenders? What is the selling agent’s experience in negotiation? When an agent cannot tell you how he negotiates, he may be willing to leave money and/or terms on the table that could have been more favorable to you.
  2. How will you communicate with me during the listing period? Knowing what to expect regarding communication can greatly reduce anxiety levels. Would you prefer a telephone call or is an email more convenient? How often would you like to hear from the agent? Letting the agent know what type of communication and how often you would like to be communicated with sets parameters and will help you better understand how flexible the agent may be in meeting your needs.
  3. Are you a member of NAR, CAR and a local association of REALTORS©? Not every licensed salesperson is a member of NAR, CAR and a local Association of REALTORS©. Not every salesperson can call herself a “REALTOR©” This is important to you because every REALTOR© is committed to following a strict code of ethics. In this most important transaction, you need to know that you will be treated honestly and fairly. Additionally, as a member of NAR, you can be confident that your agent has the latest training courses, articles regarding the latest legal decisions and resources at hand to help market your home more effectively.
  4. How are you proactive in protecting my interests? Most real estate agents are independent contractors. As such, they run their own small businesses. How many transactions are they juggling at the same time? Does the agent have time for your listing? What forms, disclosures and procedures does your agent employ to protect your interests? Does the agent carry Errors &Omissions insurance? Does the agent make a habit of representing both buyer and seller? If so, what protections and procedures are in place to be sure your interests are met fairly?

Real estate is bought and sold every day. In a changing market it is important that you do your homework before hiring someone to help sell your home. By asking these questions, you will improve your chances of finding and working with a qualified individual. This will help make one of life’s most stressful transactions smoother, so you can enjoy it along the way.

-Kathy Fox

(reprinted from The Sacramento Union with permission)

Add comment | October 6, 2007 - 5:36 am | admin

Key Questions Every Seller Needs to Ask Before Choosing a Real Estate Professional (Part 1)

Most of us sell our homes only once every several years, so we are not really in touch with the procedures and realities of today’s market. Selling your home involves a variety of skills—and a lack in any area could mean that your house does not sell, or sells for less than it could. How does one go about looking for an agent to help? Whether from a friend’s recommendation or from contacting a local real estate office, you should interview prospective agents prior to making the final decision as to who is best suited for the job. When interviewing an agent to represent you in one of life’s most important financial transactions, asking and getting answers to the following questions should help you be as prepared as possible.

  1. Tell me about your experience and philosophy of doing business. Understanding how many years the agent has been in business will help you know whether the agent is capable of bringing an offer for your home. In most cases, another agent will be representing the buyer. Is the agent capable of seeing the process through to completion? How many escrows did the agent close last year? What percentage of buyers and/or sellers does the agent work with? Some agents only work with sellers, some agents only work with buyers and some agents work with both. Listen to the answers and decide which philosophy will work best in your situation.
  2. What resources does your company provide to help get my home sold and closed? When marketing one of the most expensive items you may ever sell, the greater the support brought to the table, the greater the likelihood more people will see your home. Many companies have websites to draw buyers to listings as well as technological tools that assist agents in mobilizing the real estate community and providing your home with maximum exposure. What sort of resources does the agent’s office have to help assure an escrow will get closed? Many companies have transaction coordinators to help with the paperwork. Who provides coverage if an agent is away from the office for a few days? Should an offer come in while an agent is away, how is it handled
  3. What is your marketing strategy? You are asking what the agent is going to do to get your home sold, to manage the escrow and make sure the escrow closes. The best agents know they need a plan to effectively market a home. Professional agents will be happy to share how they market listings. This should include advertising, networking, Internet strategy, public and industry viewing schedules as well as a variety of other activities to get your home exposed to the largest number of prospective buyers possible.

Next week, we will discuss some additional questions to ask a real estate professional before determining which one is best equipped to help you sell your home.

-Kathy Fox

(reprinted from The Sacramento Union with permission)

Add comment | September 28, 2007 - 5:36 am | admin