Other things you should know when hiring a real estate agent are discussed in this second part of “Hiring a Real Estate Agent”.
Have you sold houses in my particular area?
Often times, agents will work in a particular geographical location so ensure you work with an agent that is knowledgeable about your area and its amenities. The more they know a specific location, the better they can sell it.
What percentage of houses sold in the past year have been at asking price?
This is especially important if you have a home and cannot afford to move much on the price. How good is this agent at bargaining? What percentage of houses sold have been at full asking price, 3% discount, 5% discount, etc.”
How long does it take you to sell a house?
Although several factors can come into play such as current market and economy, on average, how long are their houses listed?
How many buyers are you currently working with?
The more buyers that an agent is working with, the better your chances are for getting your home sold. If an agent has few buyers at the particular time your home is listed, discuss what methods they plan to use for attracting more buyers that would be interested in your type and price range of home.
Do you have references for other clients?
Talking to other clients is a great way of determining of level of commitment you will receive from the agent. You can find out about interaction, time dedicated to targeting buyers, closing transactions, and much more.
If for some reason, we should run into problems such as the house not moving as quickly as needed, can I get out of my contract?
If you are talking to a potential real estate agent who insists locking into a long-term contract, be very careful. In most cases, once you lock into a contract, no matter what the length, to void that contract will cost you a penalty. Therefore, if the contract is lengthy and the agent is not getting your home sold, you are stuck with that agent, or, you will have to pay a hefty penalty to be released from your contract in order to work with a different agent. Determine what constitutes a contract being broken.
As you conduct your search for the ideal agent, listen carefully to their responses to these and other questions. Ensure they are professional, act with integrity, and have sound references.
Be sure not to choose the agent based on price alone and that they are knowledgeable about selling houses and willing to work with you to get your home sold for the price needed. Remember, if you do not get a lot of response on your home in the first two weeks, there could be three primary reasons – location, condition, and price.
Since you cannot do anything about the location of your home, you might consider upgrading some things in the home or your agent should consider re-evaluating their marketing strategy. Choosing between a good and bad real estate agent could be the difference between your home being sold or not. Conduct online research on the Internet and happy house hunting!