Questions to ask a Real Estate Agent before You Agree to Representation or commit to their assistance

Choosing can be Confusing
Most of us sell only a small number of homes or other real property in our lifetimes. With limited experience in real estate, how are we to be capable of maximizing the profits from our sale? Many sellers make the critical mistake of thinking all REALTOR® are the same. They list with the first agent who comes along or maybe with a friend or relative who just got their license and they want to help them out. Does it make good business sense to put the responsibility of selling your home with someone who has no plans, no market program, little experience in your area and limited qualifications? This report will educate you with valuable information that will help you make the best decision concerning: Which real estate agent should you list with?

Start by doing a few hours of research
Ask around... get to know who has the most signs, ads, and marketing material in your neighborhood. Who is the most active agent? Compile a list of agent names and use these questions to help you determine which agent is right for you.

Could you send me some information about yourself? You can often get a good idea of which agents are the most professional by looking at their personal promotional materials. Are their materials professional-looking? How are they going to market your home, if they can't market themselves? Track how long each agent takes to respond to your request and how quickly they follow up. If they don't respond efficiently to your information requests, imagine how they'll handle potential home buyers.
How many homes have you listed and how many homes have you sold in the last six months? Look for an agent who has experience with homes similar to yours and is active in your community. If your home has special features, look for an agent with experience in those areas. Your agent should have a good record of selling homes, not just listing them. After all, this is your ultimate goal. In times of a difficult economy or other factors that affect the saleability and pricing trends, ask to see the whole market stats for your area. Also ask for a list of the top half-dozen agents and their list price-to-sold price stats. In a booming economy, a good agent might close 50, 60, or 70 transactions in a year. In a struggling economy, a good agent might be down below 12. External conditions affect the integrity of statistics.
What is the average length of time from listed to sold for your listings? After you know how many homes the agent has sold, as: How often are price reductions necessary? What percentage of your listings are reduced before they sell? How long are your listings on the market? How close to asking are their sales? An agent who sells close to the asking price and quickly, is effective at helping clients determine the right price and helping them get it. Refer back to Item #2 above regarding economic factors that may affect the viability of statistics.
How long have you been in business and to which professional organizations doe you belong? The length of time a real estate agent has been licensed is not a sure fire sign that they've been an actively selling agent. They may have been in business for 10 years but only part-time, whereas an agent who's been in business for 2 years may be a real top producer. So take into account what professional organizations they belong to. The minimum should be a licensed professional who is a member of the local real estate board and multiple listing service as well as the state and national association of REALTORS®. Membership in these organizations provides services, legal assistance and education that helps the agent remain current with issues that pertain to the real estate transaction. Further, there are ethics boards that can be accessed by the public that will assist the customer/client in the event something goes wrong. The public is able to use the local, state and national associations for assistance at no cost to them.
Has the agent sought the education of professional designations? Sellers and Buyers should insist on at least a GRI (Graduate Realtors Institute) designation and ideally the CRS (Certified Residential Specialist designation. Many others are available that sets an agent above the crowd in qualifications: Accredited Buyer Representative (ABR), Short Sale and Foreclosure Resource (SFR), Seniors Real Estate Specialist (SRES) - these are just a few of the special certifications that are available. An agent's willingness to spend the time and the money for the designations will likely be the agent who knows enough to help you more efficiently.
Do you have an assistant or support staff? By employing someone to handle the clerical details of their business, the agent can spend more time servicing your needs. However, make sure you know how much time an agent will spend and how much time their assistant will spend on the sale of your home. It may be fine if the assistant does most of the legwork and the paperwork as long as the agent is there at the most critical times of the transaction period.
How often will you hold open houses? Will they be public or by appointment only? Simply putting a sign on your lawn and holding open houses every Sunday will not sell your home. Too frequently, open houses make the target for low ball bidders. Look for an agent with a specific plan for each showing. The plan should be just one facet of a complete marketing plan. Additionally, your property may be in an area where public open houses are not effective. An agent who has the time to sit in your house every Sunday is arguably an agent who doesn't have enough appointments to keep them busier.
How do you establish the listing price on my property? Pricing is the most critical step to selling your property. Take great care in choosing an agent with the knowledge to price your property effectively. Keep in mind the selling price should attract prospective buyers to your home, get you top dollar in the current market and reflect the condition of your home. Be realistic and avoid "Yes" agents, who will say "yes" to any request or price while your home languishes on the market. "Lowball" agents will try to talk you into an artificial price to simply sell as fast as possible. "Highball" agents can be more interest in their interests than yours. Their sign on your lawn generates business for them. A call from the sign on the lawn of an overpriced listing may become a call that gives the agent the name of a buyer who can be scooped up and turned into someone with whom they can sell something (not necessarily the house they called on). Here's the sentence some seminars use to teach you how to turn an inquiry phone call into a paycheck: "If I could find you a home with some of the features of the home you just called on, for the price you are willing to pay, are you ready to purchase?" With a yes, the buyer is shown homes until they choose one. The overpriced home has provided the sale for a properly priced property.
What other services do you provide beyond customary advertising, a sign and the Multiple Listing Service? Multiple mediums for marketing are available and necessary in today's world. It is possible that a buyer prospect may not own a computer. The other side of that is that the buyer is a technical "geek." The marketing program must include something for everyone. Effective print marketing should be included. Print market is expensive. Don't expect to have big descriptions of your property. Ask, instead, that the buyer have a plan for keeping his services and listings in front of the print-reading public. In the past couple of years I have provided a personal web site for each listing I had. Example: www.123easystreet.com. Providing this service allows the agent to fully advertise your property with a one-line description. A buyer without a computer, usually knows someone who can do it for them. They can also go to the library. The agent should have a personal web site - not just have a link on the national web site for their company. The personal web site will provide an excellent venue for marketing property. A visual tour with multiple photos and wide angle/panned photos can be posted on the personal site and linked to multiple real estate web sites, including but not limited to www.realtor.com. The agent's personal web site should be designed to help customers and clients, as well as self-promotion. BOTTOM LINE: The agent should have a written report explaining their marketing program and how they plan to utilize it for your best advantage.
Beyond marketing - who handles the inquiry "lead" calls on your property? Does your agent's team get the calls or do they go to other agents who are "on the 'up' phone" who may not know your property or may have other listings they prefer to show. To market effectively in this technological era requires progressive strategies that add value and service to both buyers and sellers.
Show me your website. Any agent who is committed to their profession will be committed to the benefits of today's technology. The fee you pay should entitle you to every possible facet of a complete market plan and full service to your property and to you. There are varying degrees and definitions for the phrase "full service." Search for the brightest and best among the professionals in the industry. Hire the brightest and the best for the highest degree of results.