If you are thinking about selling your home, there are a few things you should know in order to hire the right listing agent. One of the biggest mistakes I see sellers make is focusing on the price the agent says they can sell the home for. Many sellers also put too much focus on the commission that an agent will charge. Although these two factors are important, there is a lot more that goes into selling your home. Obviously, sales price and commission impact how much money you net at the end of the day, but there are a few other things to consider when interviewing that agent. First of all, what is the agent’s history? How much success have they had selling homes? Are they a new agent? Do they only sell a few homes a year? You should also look at how often they will communicate with you throughout the process. According to the National Association of Realtors, the chief complaint buyers and sellers make against real estate agents is a lack of communication. Ask the agent what their plan is to keep you in the loop during the transaction.
Again, don’t just focus on the price the agent claims they can sell your home for. If an agent does give you a value, make sure that they have comparable sales to support that number. If there aren’t any, then the agent is probably trying to buy your listing. When this happens, the agent tells you a high price to make you feel good about your home. Then, over the next three to six months, the agent will beat you up on price every week because the house isn’t selling. The reason that strategy is not in your best interest is that the longer a house stays on the market, the lower your offers will be. Ultimately, if your home isn’t priced appropriately in the first 30 days, the market will reject the price and you will sell your home for less money than you should have. Finally, remember that a low commission rate doesn’t always get you the best value. Look for an agent who will offer you different commission plans. That way, you can pick the one that best fits your budget and gives you the most amount of service. If you have any other questions about hiring a listing agent or selling a home, just give me a call or send me an email. I would be happy to help you!