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10 Questions
To Ask Your Realtor®
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| 1. Are you a full-time professional Realtor®? How long have you worked full time in real
estate? What professional designations do you have? |
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Knowing
whether or not your Realtor® practices
real estate on a full-time basis can give you a piece of the
puzzle in foreseeing scheduling conflicts and, overall, his
or her commitment to your transaction. As with any profession,
the number of years a person has been in the business does
not necessarily reflect the level of service you can expect,
but it is a good starting point for your discussion. The same
issue can apply to professional designations.
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2. Do
you have a personal assistant, team, or staff to handle different
parts of the sales transaction? What are their names and how
will each of them help me in my transaction? How do I communicate
with them?
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It is not
uncommon for high real estate sales producers to hire people
to work for them or with them. They typically work on a referral
basis, and, as their businesses grow, they must be able to
deliver the same or higher quality service to more clients.
You may
want to be clear about who on the team will take part in your
transaction, and what role each person will play. You may
even want to meet the other team members before you decide
to work with the team overall. If you needed help with a certain
part of your home sale, who should you talk to and how would
you communicate? If you have a question about fees on your
closing statement, who would handle that? Who will show up
to your closing? These are just a few of the many important
considerations in working with a team.
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3. Do
you and/or your company each have a website that will provide
me with useful information for research, services, and how
you work with buyers? Can I have those Web addresses now?
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Many homebuyers
prefer to search online for homes and home buying information.
There are certain privacy and comfort levels that you might
appreciate in starting a preliminary search this way, and
often it is just a matter of convenience, having 24-hour access
to information. By searching the Realtor®'s and the company's
Web sites, you will get a clear picture of how much work you
would be able to accomplish online, and whether or not that
suits your preferences.
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4. How
will you keep in contact with me during the buying process,
and how often?
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It's a good
idea for you to set your expectations reasonably in accordance
with how your Realtor® conducts business. You may be looking
for an agent to call, fax, or email you every days to tell
you about prospective buyers who have seen your home. On the
other hand, your Realtor® may have access to systems that
will notify you automatically each time a new visitor tours
your home (which could happen several times a day or several
times a week). Asking this extra question can help you to
reconcile your needs with your Realtor®'s systems, which makes
for a far more satisfying relationship.
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5. Can
you explain one thing that you do that other agents don't
do that ensures I'm getting top dollar for my property? What
is your average market time versus other agents' average market
time?
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Marketing
skills are learned, and sometimes a real estate professional's
unique method of research and delivery make the difference
between whether or not a property sells quickly. For example,
an agent might research the demographics of your neighborhood
and present to you a target market list for direct marketing
purposes.
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6. Will
you give me names of past clients who will give references
for you?
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Interviewing a Realtor® to help you buy a home can be
very similar to interviewing someone to work in your office.
Contacting a Realtor®'s references can be a reliable way for
you to understand how he or she works, and whether or not
this style is compatible with your own.
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7. Do
you have a performance guarantee? If I am not satisfied with
your performance, can I terminate our listing agreement?
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Understand
that, especially in the heavily regulated world of real estate,
it can be increasingly difficult for a Realtor® to offer a
performance guarantee. Sometimes you may find a Realtor® who
is willing to guarantee that if you are dissatisfied in any
way with their service they will terminate your listing agreement.
If your Realtor® does not have a performance guarantee available
in writing, it is not an indication that he or she is not
committed to perform. Realtors® at Keller Williams Realty
understand the importance of win-win business relationships,
and that the Realtor® does not benefit if the client does
not also benefit.
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| 8. How will you get paid? How are your fees structured?
May I have that in writing? |
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This is
an issue that can also be related to agency. In many areas,
the seller still customarily pays all Realtor® commissions
through the listing broker. Sometimes, Realtors® will have
other small fees, such as administrative or special service
fees, that are charged to clients, regardless of whether they
are buying or selling. Be aware of the big picture before
you sign any agreements. Ask for an estimate of costs from
any agent you contemplate employing.
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| 9. How would you develop pricing and marketing strategies
for our home? Will you commit to the marketing strategy in writing?
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Pricing
a home correctly is the single most important factor in determining
if a home sells quickly, or at all. Although location and
condition also effect the selling process, price is a primary
factor. Access to all current property information is essential,
and sometimes a pre-appraisal will help. Ask your agent where
he or she obtained the information to create the market analysis,
and whether your agent included For Sale By Owner homes, foreclosed
homes, and bank-owned sales in that list.
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| 10. What will you do and what will you not do to sell
my home? Who determines where and when my home is marketed/
promoted? Who pays for your advertising? |
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Ask your real estate agent to present to you a clear
marketing and advertising budget, and how those dollars will
be spent. Ask if there are other forms of advertisement/ marketing
media that are also available but not mentioned in the budget/plan,
and who pays for those. Request samples of the various media
that your agent proposes (such as Internet Web sites, print
magazines, and local publications). |
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Copyright © 2001 The Galaise
Team
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