If you are thinking about getting a real estate agent to list your home, you need to interview them. I have three questions that you need to ask.
Now that it’s spring, a lot of clients are starting to put their homes on the market. If you’re thinking of doing the same, then it’s time to start interviewing agents. And there are three questions you should ask during an agent interview.
1. How many homes did you sell last year? You need to find out how much experience they have in selling homes. You’re probably looking for someone who has done more than a handful of deals before, so asking this can help determine whether they have the experience and systems to get the job done.
The truth is that most real estate agents out there work primarily on the buyer’s side; but when selling a home, you’ll want to work with someone who’s done a fair amount on the listing side.
2. How do you plan to market my home? You want someone who does more than “the three P’s.” These are: put a sign in the yard, put the house on MLS, and pray that someone’s going to sell your home. Most everybody does these things, so you’ll need someone who is willing to do more.
3. What’s your list-to-sales price ratio? This number will tell you a couple of things—it will show how good the agent is at pricing a home as well as the effectiveness of their marketing.
It’s important to work with an agent who can consistently beat the averages. Let’s say you know you’re in a hot market with an average list-to-sales price ratio of 97%, but you discover your agent has a 100% list-to-sales price ratio. This is obviously better by 3%.
When selling a home, you’ll want to work with someone who’s done a fair amount on the listing side.
Or, maybe you have a person who has a 94% ratio, which sounds great but is actually lower than the average. You will know how to interpret this information when it is provided.
Finally, I will leave you with one quick, final tip: Google agents before you interview them. Anyone who has sold a lot of homes should have some kind of online presence.
If you have any questions about our local housing market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.