When you’re selling your property, it’s crucially important to find the right real estate agent. As you’ve probably guessed, you’ll need to perform detailed research to find the right fit. Once you’ve got a short-list of potentials, it’s time to set up a few meetings and ask all your burning questions. So which questions should you ask your potential real estate agent? Let’s take a look.
1 . How will you determine the listing price?
When you’re choosing a real estate agent it’s worth asking how they will arrive at the listing price. Expect that the price will be determined by the current market, the size of your property, the property condition, and the location. An agent will likely come to this decision by performing a comparative market analysis. These types of analysis are typically based on the homes that have sold recently in the neighborhood.
2 . For how long (on average) do your listings remain on the market?
When you are choosing a potential real estate agent, you should ask them how long that their listings (typically) remain on the market. You are likely looking to sell your property fast, and so agents with a shorter average listing time might be more appealing.
- Can you tell me your list to sell ratio?
Ask your potential realtor what their list to sell ratio is; this is the difference between price listings and what the houses typically sell for. It’s challenging to determine what is a ‘good’ ratio, as it largely depends on the location and the market. As a guide, you’re looking for a ratio which does not fall too far under 90%.
- Have you made many sales in this particular neighborhood?
It’s a good idea to establish how well this real estate agent knows your neighborhood. Ask how many homes they have sold here and if they have any unique knowledge about this area. Bear in mind that buyers want to know all about the neighborhood amenities and selling points. The more your agent knows, the better!
- Can you explain your marketing strategy?
To drum up an interest and sell your house, a real estate agent needs a great marketing strategy. Look for an agent who will utilize a variety of methods, including in-person, print, and online methods. It’s advisable to choose a real estate agent with strong capabilities (or support in digital marketing). This is useful as online advertising is the leading marketing method.
- Can you provide a list of referrals?
It’s a wise move to get a collection of referrals from a real estate agent. You’ll want to choose an agent who has plenty of previous clients who can vouch for their great services. As well as this you can conduct your own research, by searching the web for testimonials and reviews.
- Can I see a copy of your real estate licence?
All agents should have a real estate licence, obtained from an in-person or online real estate school. It’s best to double check the accreditation of any professional you are considering working with.
With the right real estate agent, you’ll get a faster sale at a great price. The more research that you perform, the better!