Before You Sell Your Home
How To Find a Listing Agent
You may decide to sell your house for sale by owner, but if you want to
use an agent, pay attention as you research the market.
Research Real
Estate Firms
·
Which agency's ads or Web sites are the most
appealing?
·
Which agencies consistently feature virtual
tours on their Web sites?
·
Do house descriptions make you want to
schedule an appointment?
·
Does the agency provide multiple photos of
homes? Are they of good quality?
·
Which agencies advertise in multiple
publications? On TV?
·
Was their Web site easy to find when you
searched for homes for sale in your town?
·
Ask your friends for agent referrals. Have
they worked with an agent who did a great job?
Once you have a
list of agents, make an appointment with each one to learn more about their
services. Find out if agents are willing to do a free comparative market
analysis (CMA), a process that compares your home to similar homes that have
sold recently. Agents use this tool to help sellers set listing prices.
Interviewing
Agents
·
Ask agents to explain the marketing tactics
that will be used to sell your house, including print, Web and other types of
advertising (you'll already know much of this if you've done your research).
·
Will the agency place your house in the
Multiple Listing Service (MLS) immediately? Making your home
available to every affiliated agent greatly increases the buyer pool.
·
Find out if the agency belongs to more than
one MLS. In some areas there's an overlap of popular neighborhoods, making
multiple memberships important.
·
What's their commission rate? How does it
compare to that of other agencies that offer the same services?
·
Find out how long they want you to list with
them, keeping in mind that the time is usually negotiable.
·
What's the average length of time it takes to
sell a house in your area? What is their company's average?
·
How long has the (potential) listing agent
been licensed to sell real estate?
·
What percentage of the agency's listings sell
during the initial listing contract period?
·
Buyer feedback is an important tool. If
everyone makes the same negative comment, you should consider working on the
problem. How often can you expect to receive buyer feedback? Weekly, twice a
month, after every showing? Will the feedback be written?
·
Will the agent hold an open house for other
real estate agents? For buyers?
·
How are showings handled? Will you receive
advance notification that someone is coming? How much notice is typical? You
can put restrictions on showings--certain days or times are off-limits--but
that may cut down on the number of times your home is shown.
·
If you have pets, make sure the agent is
committed to a plan that ensures their safety. If it's a dog that bites, you
will need a plan for buyer safety, too.
·
Does the agency use lockboxes? Many agencies
place a key inside a box that is secured to your home. Ask the agents to
explain how it works.
·
If your new home will be in the same area, ask
the agent any questions you might have as a buyer. You may choose to use the
same agent to buy and sell.
Estimating
Home Selling Costs
Ask agents to give you an estimate of typical seller closing costs.
Ask agents to give you an estimate of typical seller closing costs.
·
Excise taxes.
·
Attorney or other professional fees.
·
How your share of property taxes for the year
is calculated
·
Your share of property owner association fees,
etc.
·
The real estate commission.
·
Any other expenses that sellers are typically
expected to pay for. (surveys, inspections, certifications, etc. Customs differ
around the state.)
Ask any other
questions you think are important, but your decision to hire an agent should be
based in part on a gut feeling that the two of you can work together.
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