Whether buying or selling a home, it is one of the largest financial
events that happens only a few times within your life. That makes
choosing a realtor just as important and a crucial decision that can
add to the stressful event or make it smoother and easier. So, choose
your realtor as carefully as you would choose your doctor or attorney.
The first step in choosing the RIGHT realtor is to ask your friends,
neighbors, acquaintances and business associates for recommendations.
Ask them why they liked the realtor, what kind of service he/she
provided, and would they use him/her again? Do not consider
recommendations of their relatives — it is doubtful that you are
getting an accurate perspective on the realtor.
If you did not get several truly exemplary recommendations, then drive
throughout your neighborhood and check the “for sale” signs, especially
those with “Sold” stuck across them. Note the realtor names. Also,
check out real estate, display and classified advertising in your
newspaper and local neighborhood paper. Which realtors have the most
listings? Which have the largest or most display ads with photos of the
homes? Note the realtor names.
By now, you should have a good list of potential realtors. It is time
to check them out. Attend at least one open house for each realtor you
are considering. Observe them in action and judge their expertise. Are
they professional — or do they come across as a “used car salesman”?
How familiar is the realtor with the property he/she is selling? After
you leave, make detailed notes of your observations and how you felt
about the realtor.
If you only used the recommendations of others, now check the
advertising in the newspaper and neighborhood media for the realtors in
which you are interested. Do the drive through of your neighborhood to
see how many sold signs these realtors have. Make notes of how visible
these realtors are and their marketing efforts.
Next, choose your top three realtor selections. It is better if they
are from different companies, ensuring they will work harder for your
business. Call all three and set appointments. For sellers, make the
appointment in your home and let them know you would like an estimate
of your home’s market value. For buyers, let them know you would like
them to determine how much you can afford to pay for a home. Be sure
they know that you are meeting with two other realtors and will not
make your decision until you have met with all three.
During each interview, take detailed notes on the realtors’
presentations. Note any thoughts you have. Ask the following questions,
along with any you may have:
• For sellers —
o How will they sell your home? What are their marketing plans? Are they customized to your listing?
o How many years have they been a full-time realtor? In your area? You
want someone with experience, who will be giving your listing his/her
full attention.
o What is their sales record? This includes their production level,
rating, closed rate, expired rate on listings, and average time
listings have been on the market before selling within the last year.
o Are they single-proprietorship realtors, work as a team, or part of a
company? What prominent company are they associated with, and what
resources does the firm provide the realtor that helps him/her do a
better job for you?
o What level of technology will they use to promote your listing — web sites, virtual tours, online photo galleries, and so on?
o What services do they provide from the time of listing your home to the end of the closing?
o What are their communication procedures with you from listing through closing?
o Do they provide working relationships with local inspectors, appraisers, and real estate attorneys?
o Will they help you “stage” you home for showing. This is a
walk-through of the property, suggesting things that should be
repaired, renovated or changed to improve your pricing for the home. It
also includes things that would “show” the home better. For example,
too much furniture adds a clutter affect, making rooms look smaller.
The realtor may suggest storing some of your furniture until after the
sale.
o How did they arrive at the results of their marketing analysis? Ask
for the actual addresses of any homes they used for comparison.
• For buyers —
o What services do they provide from the time you contract with them through the closing?
o How many years have they been a full-time agent? In your area? You
want someone with experience, who will give his/her full attention to
finding you a home.
o Are they single-proprietorship realtors, work as a team, or part of a
company? What prominent company are they associated with, and what
resources does the firm provide the realtor that helps him/her do a
better job for you?
o What are their communication procedures with you during your search for a home through closing?
o What level of technology and research methods will they use to locate potential homes for you to view?
o What is their production level and rating? How many satisfied buyers in the past 12 months?
o Do they provide working relationships with inspectors, appraisers,
title search companies/attorneys, and real estate attorneys for
contracting and the closing? Can they suggest mortgage lenders, if you
need one?
o Do they network with other realtors in the area? Sometimes, such
relationships may afford you a viewing before a property is
“officially” listed, giving your first view.
Tell the realtors that you will make a decision and contact them in the next day or two.
After all interviews are completed, note the following:
• Who gave you the most usable information?
• For sellers, the market value for your home should be in similar
ranges for all three realtors Note if someone is unusually high. They
may be only trying to get your listing with the idea of talking your
price down later. Also, drive by the homes they used for market value
comparison. Which realtors compared apples to apples, and which
compared apples to oranges?
• For buyers, your buying potential (what you can afford to pay for a
new home) should be in the same range for all three realtors. If a
realtor is much higher or lower than the others, note this. You may
even call him/her to inquire about the difference and how they arrived
at the amount?
• Who answered your questions with genuine sincerity?
• Who genuinely appeared most excited about your home and its sale?
• Who truly listened, and who did not?
• Which realtor seemed to be the best fit for you?
Choosing a poor realtor can turn an already stressful event into a
nightmare with ramifications that you must live with for years to come.
Choosing the right realtor can make the experience a dream come true
and a totally satisfying event. Selling or buying a home is stressful
enough. Be sure you do not choose a realtor that is going to add to
that stress. |
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