Posted Aug 12, 2010 By Robert Pugh
EMC Business – Selecting a real estate representative to assist in the largest financial transaction a person will likely ever make is a critical part of the home selling process. In a challenging economic environment where competition among real estate companies is on the rise, choosing the agent that’s right for you can be a confusing task.
Home sellers should start by interviewing several real estate agents to find someone with whom they “connect.” However, chemistry is not the only variable to consider. The length of time an agent has been in the business, his or her home sale success rate and knowledge of the local market can also play a significant role in the decision-making process.
To jump-start the conversation, here are five essential questions home sellers should ask before selecting a real estate representative.
1. How long have you been in the real estate business and what has your success rate been in terms of home sales over the past 12 months? The length of time a real estate representative has been in the business and their home sale success rate demonstrates their knowledge and expertise in the industry. Ideally, a home seller will want to work with an agent who has a high percentage of completed transactions within your home’s price range.
2. What was the average amount of time it took to sell those listings? Comparing marketing times between the agents you are interviewing will provide you with an indication of how well that agent markets homes.(
3. What was your list-price to sale-price ratio? Significant differences between original listing prices and ultimate sale prices can be an indication that the list prices quoted at the outset were unrealistic.
4. What is your online marketing plan to sell my property? In Canada, the vast majority of home buyers begin their home search on the Internet. Therefore, the real estate representative you select should have a strong online marketing presence as well as be visible through social media outlets in order to reach the widest possible audience.
5. Do you have references you can share from past clients? References allow you to gain additional insight into the day-to-day workings with the real estate agent. Gathering reputable references will help ensure that you select the best real estate representative for your needs.
This article is not intended as a solicitation to buy or sell real estate, and is presented as a general source of information. Robert can be contacted at Coldwell Banker Rhodes & Company, Brokerage at 613-796-7727 or toll free at 1-888-335-6565.