Nine Questions a Seller Should Ask Most people will only sell a few homes in a lifetime. Given this limited level of experience selling real estate, most homeowners employ a real estate professional to assure them that they get the best return possible on their investment.  The most common mistake home sellers' make when using a Realtor is thinking that all Realtors are the same. In fact, All Realtors are not the same. Of all agents in Pensacola, 15% account for 85% or more of all the real estate sold. Not knowing this, most homeowners list their home for sale with the first agent who comes along, a close friend or a family member, instead of one of the top real estate professionals in the Pensacola Area. It doesn't make good business sense to list your home with an agent who may not have the experience, knowledge or track record to get you top market value? This special report will provide you with valuable questions to help you make the most informed decision possible when choosing a real estate professional. First, start by doing some research. Get input from friends who have recently purchased or sold homes and local real estate attorneys. Call these firms and speak with the owner or manager of that office. Ask that person to recommend the best qualified real estate professional in his or her office. Once you have compiled your list of prospective listing agents, you are ready to interview them to determine who will assist you in selling your most valuable asset - your home. Here are 9 questions you need to ask each Realtor 1. Are you a broker and how long have you been in business ? - The length of time a real estate professional has been licensed may not necessarily indicate that they've been active in today's real estate market. 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 already be a top producer. Find out if the agent you a speaking with is a Sales Associate or a Broker Associate. Additional education, experience, testing and Florida licensing is required to be a Broker Associate. Take into account what professional organizations they belong to. The minimum should be a licensed professional who's a member of the Pensacola Association of Realtors®, the Florida Association of Realtors® and the National Association of Realtors®. 2. Do you have an assistant or support staff? - By employing someone to handle the details of their business, the agent can spend more time servicing your needs. 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 as long as the agent is there at the most critical times during the transaction. 3. Do you have a specific written marketing plan for my home? - Simply placing your home on the Multiple Listing Service and holding an open houses will not sell your home. Look for an agent with a specific marketing plan for your home. This marketing plan should show you exactly what the listing agent will do to sell your home. It should be in writing and reviewed with you at various times throughout the marketing process. 4. What types of things separate you from your competition and what type of feedback can I expect from you? - How effectively will they advertise? Do they have 24-hour advertising capability? Agents who are innovative and offer new methods of attracting homebuyers will measurably outperform agents who rely on methods of the past. Marketing effectively in the new millennium requires progressive strategies that add value and service for both buyers and sellers! 5. What listing price do you suggest and how did you determine that? - Pricing is the most important step to selling your home. Take great care in choosing an agent with the market knowledge to price your home correctly. Keep in mind the listing price should attract prospective buyers to your home by reflecting the current economic environment, the physical condition of your home and its location. Be realistic and avoid agents who attempt to "buy" your listing with an overly aggressive price tag. Have each agent justify to you why you should be listing your home for a specific price. If the recommended listing price sounds too good to be true, it probably is. 6. How many transactions you have in the last year? - Look for an agent who has experience with homes similar to yours. 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, your ultimate goal is to sell you home at a price that is consistent with the current market! 7. What is the current length of time it will take to sell a home like mine? - Don't automatically assume the shorter time on the market the better. A reasonable marketing time should be between 90 and 120 days, depending upon the uniqueness of the property, location, condition and price. If it takes over 120 days to sell your home, you can bet the original listing price was probably too high. Ask the agent for their average original asking price to selling price ratio. An agent who sells homes close to the original listing price and in a reasonable amount of time will be effective at helping clients determine the correct pricing strategy for their homes. 8. What is in the listing agreement? - Have your real estate agent go over every detail in the listing agreement until you understand it completely. Make sure the beginning and ending dates are on the agreement (a reasonable standard for length is four to six months). Know exactly what fees you will be paying and remember that less is not always better. If the agent stands to make very little commission, you can bet it will be reflected in the amount of time and effort spent on the marketing of your home. If the agent reduces their commission to get the listing it may mean they intend to spend very little money promoting your property. 9. What Florida disclosure laws apply to me and what should I be aware of? - Make sure your agent has you fill out a Residential Property Condition Disclosure and a Lead Base Paint Disclosure, which are required by Florida State law. There are certain exceptions where you will not need to supply these disclosures and your listing agent can advise you of these exceptions. Your Realtor should also create a detailed property fact sheet. This fact sheet should contain such information as: the property listing, a survey, septic plan (if applicable), a one page features list about your home, a list of improvements you have made to your home and copies of all disclosures. These 9 questions can be of great value to you. Get the answers to these questions and you will be able to better determine which real estate professional is the right one to represent you. Interested in listing your property? Let us help you determine a listing price. Have us start by performing a CMA to determine the current real estate market in your area. More Great Real Estate Listing and Selling Articles...
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