TEN QUESTIONS YOU NEED TO KNOW THE ANSWERS TO BEFORE YOU LIST YOUR PROPERTY WITH A REAL ESTATE AGENT
1. Does your agent price your property based on the CLC Triangle?
It is important that an agent price your property based on Character, Location and Condition. Ask you agent to explain the concept.
2. Does your agent know the market and not just the statistics of the market?
An exceptional agent will not only have all the up to date statistics but will tell you why a home in the area sold for the price and how that affects your property marketing and price.
3. Does your agent believe customer service is a key factor in dealing with your listing and any potential buyer?
Many agents just take the listing to get another listing on their inventory and then forget the property belongs to a customer and the need to find the right buyer. What is their customer service plan?
4. What commission rate does your agent charge you and what do you get for it?
Be careful, don’t select an agent just because they offer the lowest commission rate and tell you they will save you money or the highest rate because you are led to believe they will do more for you. High commission rates usually mean high overhead costs but that does not mean high service levels and low rates mean they will limit their marketing plan and have a difficult time selling your property.
5. Is your agent buying the listing from you?
This means the agent may provide you with a high CMA (Comparative Market Analysis) to lead you to think they can get you a higher price compared to other agents, but they are doing it to get the listing and then make you drop the price when the property does not sell.
6. Does your agent know what works best to sell a property in your area?
Many companies believe the Internet is the best tool they have to sell your property, but they forget this is a people business in which they are selling a high dollar cost item and it requires a high touch one on one customer service.
7. Does your agent’s company try to sell your property within their company first and then place it on the MLS (multiple listing system)?
Be careful not to let agents tell you they are helping you by doing this because they claim they are big agencies and they have lots of buyers. What they are doing is limiting the number of potential buyers and lining their pockets with higher commission percentages. Ask them how long it will be before it is on the most powerful marketing service, the MLS service. It only takes a few days to get it on the system.
8. Does your agent know what marketing plan they will use to sell your property based on your needs?
Not all properties should be priced just based on the CMA but also based on your personal selling needs. Are they meeting your needs?
9. Does your agent know what are the best tools to market any property?
Everybody knows that over 80% of all current buyers look on the Internet first before contacting an agent when buying a property and there are many web sites that will give the buyer the listing information. However, is the Internet the number one selling tool?
10. Does your agent know what buyers are looking for in a property in today’s market?
Make sure your agent knows the current buyer preference trends to help them price and market your property accordingly.
If you need more information on any of the above questions, please call Felix Ramirez at (920) 378-0166 or Arryn Woodliff at (920) 843-2121 and get the right answers before you make your next decision about selling your property.