1. What makes you different? Why should I list
my home with you?
It's a much tougher real estate market than it was a de- cade ago. What unique marketing plans and
programs does
this agent have in place to make sure that your home stands out favorably versus other competing homes? What
things
does this agent offer you that oth- ers don’t 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 company’s track record and
reputation in the market place?
It may seem like everywhere you look, real estate agents are boasting about being #1 for this or that, or
quoting you
the number of homes they've sold. If you're like many homeowners, you've probably become im-
mune to
much of this information. Afterall, you ask, “Why should | care about how many homes one agent sold over
another.
The only thing | care about is whether they can sell my home quickly for the most amount of money.
Well, because you want your home sold fast and for top dollar, you should be asking the agents you inter-
view how
many homes they have sold. I'm sure you will agree that success in real estate is selling homes. If one
agent is
selling a lot of homes where another is selling only a handful, ask yourself why this might be? What things
are
these two agents doing differently?
You may be surprised to know that many agents sell fewer than 10 homes a year. This volume makes it diffi-
cult for
them to do full impact marketing on your home, because they can't raise the money it takes to afford the
advertising and special programs to give your home a high profile. Also, at this low level, they probably
can't
afford to hire an assistant, which means that they're run- ning around trying to do all the components
of the
job
themselves, which means service may suffer.
3. What are your marketing plans
for my home?
How much money does this agent spend in advertising the homes s/he lists versus the other agents you are
interviewing? In what media (newspaper, magazine, TV 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. Does your Broker control your advertising or
do you?
If your agent is not in control of their own advertis-< ing, then your home will be competing for advertising< space
not only with this agent’s other listings, but also< with the listings of every other agent in the
brokerage.
6. On average, when your listings sell, how
close is the selling price to the asking price?
This information is available from the Real Estate Board. Is this agent's performance higher or lower
than the board average? Their performance on this measure- ment will help you predict how high a price you
will get for the sale of your home.
7. On average, how long does it take for your
listings to sell?
This information is also available from the Real Estate
Board. Does this agent tend to sell faster or slower
than the board average? Their performance on this
measurement will help you predict how long your
home will be on the market before it sells.
8. How many Buyers are you currently working
with?
Obviously, the more buyers your agent is working
with, the better your chances are of selling your home
quickly. It will also impact price because an agent with
many buyers can set up an auction-like atmosphere
where many buyers bid on your home at the same
time. Ask them to describe the system they have for
attracting buyers.
9. Do you have a reference list of clients
I could contact?
Ask to see this list, and then proceed to spot check
some of the names.
10. What happens if I'm not happy with the job
you are doing to get my home sold? Can | can-
cel my listing contract?
Be wary of agents that lock you into a lengthy listing
contract which they can get out of (by ceasing to ef
fectively market your home) but you can’t. There are
usually penalties and broker protection periods which
safeguard the agent's interests, but not yours. How con
fident is your agent in the service s/he will provide you
Will s/he allow you to cancel your contract without pen
alty if you're not satisfied with the service provided?
Evaluate each agent’s responses to these 10 questions
carefully and objectively. Who will do the best job for
you? These questions will help you decide.
