8 Questions to Ask An Agent
1. Why should I list my home with you?
It's a much tougher real estate market than it was a few years ago. What unique marketing plans and programs does this agent have to make sure your home stands out favourably among the competition? What strategies does this agent offer to help you sell your home in the least amount of time, with the least amount of hassle and for the most amount of money?
2. What is your track record in the market place?
You want your home sold fast and for top dollar -- so ask the agents you interview how many homes their companies have sold. I'm sure you will agree that in real estate, success is selling homes. If one company is selling a lot of homes and another is selling only a handful, ask yourself why this might be. What things are these two companies doing differently?
3. What are your marketing plans for my home?
How much money does this agent spend in advertising the homes s/he lists versus other agents? In what media outlets (internet, newspaper, magazine, etc.) does this agent advertise? What does s/he know about the effectiveness of one medium over the other?
4. What has your company sold in my area?
Agents should bring you a complete listing of both their own and other comparable sales in your area.
5. Do you control your own advertising?
If your agent is not in control of their own advertising, your home will be competing for advertising space with the agent's other listings, and with the listings of every other agent in the brokerage.
6. When your listings sell, how close is the selling price to the asking price?
Is this agent's performance higher or lower than the Real Estate Board average? This measurement is an indicator of agent performance and will help you predict how high a price you will get for the sale of your home. Ask your agent to see this documentation.
7. How long does it take for your listings to sell?
Does this agent tend to sell faster or slower than the Real Estate Board average? Also a clue to agent performance, this indicator will help you predict how long your home will be on the market before it sells. Ask your agent to see this documentation.
8. Is your company currently working with many buyers?
Obviously, the more buyers your agent's company has in their portfolio, the better your chances are of selling your home quickly. Having a large pool of potential buyers will also impact price, because an agent with many buyers can set up an auction-like atmosphere where a number of them bid on your home at the same time.