Look, getting into a real estate transaction can be daunting… Especially in this market. And, it really doesn’t matter which side of the transaction you’re on, the fact that there’s so much legality involved in the process along with pages and pages of paperwork almost puts a barrier between you (as a buyer or seller) and achieving your goal.
Combine that with the fact that you’ll want representation that really knows the market and understands your goals for the transaction and it can seem like choosing an agent is nearly impossible.
Currently, there are over thousands of homes for sale! And, to be successful in selling your home, here are some things to look for in a real estate agent so that you get the best representation and have the best chance of success.
Ask for a local reference: If you have been at home for an extended period of time, you have no doubt acquired friends who can offer you references. Talk to them and ask them who they are using or who they used and also ask them about their experience with the agent they used. Since the number of homes for sale is what it is, you may have a lot of referrals, so make sure you get as much detail as possible so you can make some quick decisions to weed out agents who may not be good. . fit for you
By all means, be sure to consider the source when someone recommends a relative, and base your decision on history. Don’t feel obligated to use anyone. This is your transaction and your experience.
Make sure your choice knows how to market and sell. Take Arizona for example…with nearly 50k agents in the Phoenix area alone, you’ll find that most don’t understand marketing, most don’t have real sales experience and don’t understand what it takes to generate interest in your property.
A very simple way to determine your agent’s marketing skill level is to request that all forms of marketing that will be used be observed. This includes print and online methods. Look for an agent who leads with a benefit! I can’t stress this enough. Most agents start with a sales pitch or some spiel about their own credentials. And while having a qualified agent is important… You have to remember that in 99% of the cases, your potential buyer won’t care who your agent is! Your buyer cares about his own needs. Your buyer cares about the lifestyle your community offers, the schools your children will attend, and the convenience or benefits of living where you currently live! The least important thing to a potential buyer is the alphabet soup that follows the names of most real estate agents.
Really, do you care if an agent is “EPRO” certified when buying a home he represents? Or, do you mind if I show you homes that provide the lifestyle you want to create for your family?
Agents specialized in a particular area must know the area cold. How else could that agent effectively communicate the benefits of living there? As an example; I know the Las Sendas home community in East Mesa, Arizona like the back of my hand having lived and worked in the area for years! I have seen properties misrepresented or ineffectively represented because those who have homes for sale in Las Sendas use an agent from a nearby city like Scottsdale, who has barely visited Las Sendas.
The next one will bother you a bit, but I recommend that you use a full-time agent instead of a part-time one. Think about it, you’ll waive 3%-6% of fees, so you’ll definitely want your real estate professional’s full attention. Well, a specialist in your area.
If you followed my advice on referrals from a previous paragraph, you should now have a decent list of prospects to consider. So now the challenge is to narrow down the list.
Start by choosing your top three agents based on the preliminary information you’ve gathered. I would recommend choosing agents from different companies so you can get an idea of their different methods. Call all three real estate agents and let them know that you intend to sell your home and would like them to provide you with an estimate of market value based on those in your community.
Arrange individual appointments with each agent and let each agent know that you are interviewing two other real estate agents who will also provide an evaluation. Be honest with them. Most agents will want the last appointment and will go out of their way for you if they want your business. The reason for this is that the last agent usually has the best chance of getting the listing. Let them know that you won’t make a decision until you’ve interviewed all three.
Have each agent give you a presentation on how they will work to sell your home. Ask for details about the techniques they will use. Remember: the agent who leads with the benefit to you and the benefit to the buyer knows the basics of marketing. The agent who drives with credentials does not. Nothing “sells itself”. Any agent who uses terminology like this is not a marketer and does not understand the psychology of sales.
Imagine you are the buyer of your home and as the agents present, imagine how they would respond to your marketing. Most homes for sale in Las Sendas are currently priced well, so everyone selling a home will have the price in their favour. Look for other reasons why a buyer would consider your home. Listen for terms or concepts that resonate with you or to which you have a visceral response. If you are reminded how wonderful Las Sendas is and have a favorable response, chances are that anyone who sees your home will too.
Once all the real estate agents have given you their introduction, let them know that you will make your decision in the next 24 to 48 hours. And, that you will call each of them and let them know what your decision is.
Many people with houses for sale have made mistakes in making their final decision. One of the most common mistakes is choosing based on the estimated sale price. The sale price tends to negotiate down over time if the house doesn’t sell. You might get a call like, “Well Mr. Smith, his house has been on the market for 2 weeks and we haven’t had any interest, maybe we should lower the price.”
Remember, you make the final decision on the sale price. However, do yourself a favor and be realistic with your asking price. If three agents estimate the value of your house at 100k, do not overvalue the property by 120k. You don’t want your house to sit on the market for six months and eventually have to sell it for less than 100k because everyone thinks there’s something wrong with the house. If you disagree with any agent’s suggested price, consider having the property appraised by a qualified appraiser.
Choose the agent who values your property fairly, can justify the price with market comparisons, and understands marketing well enough to create traffic or visitors to your home.