Speaker Intro:
Welcome to the Southwest Florida Realty show with Billee Silva and here’s your host Billee Silva!
Billee Silva:
Hi there, this is Billee Silva with the Southwest Florida Realty Show. Southwest Florida’s housing data continues to follow the same trend we’ve been seeing for months: a limited supply of for-sale inventory, high buyer demand and rising prices. If you’re in the market to buy or sell a home, choosing a professional to assist you with the process can be overwhelming. Today, I am going to discuss some questions to ask and things to look for before hiring a listing agent.
Buyer’s Agent? Seller’s Agent? Realtor ®, Broker? Deciphering the code can be tricky when choosing the real estate professional that is right for you and your family. The world is full of people who sell real estate. Some of them are smart, efficient, focused, versatile and willing to go the extra mile, and some of them, well, not so much. Finding an agent who will sell your home using a range of marketing tools to get you the best deal possible in a reasonable amount of time, all while charging a fair rate, takes some effort. I always suggest you interview at least three candidates before you sign a contract. The biggest mistake that home sellers make when choosing a listing agent is in selecting one based solely on two factors: the highest list price for their home and the lowest commission. Don’t just choose your listing agent based on getting the highest list price for your home and the lowest commission. Ask specific questions about what your listing agent will do for you in regards to marketing your home.
Our market is in a constant state of change, so the real estate professional you choose should be knowledgeable, efficient, and proactive about staying ahead of the learning curve. Tapping into technology is a must for agents who understand that target-marketing to those buyers most likely to purchase your home is essential. It’s a different world these days and the tools of the trade have changed to meet the times. Ask your potential real estate agent what high-tech tools do they use to ensure that your home has the most exposure and the best services available. Listing it on the Internet and holding an open house shouldn’t be the only answers. Your agent should be able to talk about what types of people are likely buyers for your home and how are they going to reach out to those particular people. Specifically, ask the agent if they use a professional photographer. If you receive a blank stare when you ask this question, move on to interviewing the next listing agent. Professionally shot listing and marketing photos are essential. One of my biggest pet peeves is scrolling through the internet and seeing photos of the listing agent’s reflection with their cell phone in the bathroom mirror or poor-quality photos. I’m sure if you have ever looked at real estate photos on the internet you know exactly what I am talking about. So many buyers are buying sight unseen these days, you want your home to shine with spectacular photos to grab their attention. All too often buyers will pass over listings with poor quality photos. A good listing agent lives and dies by marketing. That is because proper publicizing of a home is what makes the sale. You should specifically ask what the agent’s plan is for selling your home. To understand how a potential listing agent will market your home, ask to see examples of past efforts. Printouts of MLS listings will show you how the agent treats your property, is the description engaging, written professionally and free of typographical and grammatical errors? Are the photographs, plentiful, clear and compelling?
It is also very important to know up front whether the real estate agent you are speaking to is fully engaged in the listing and selling of homes and all that the profession entails; or are they just a part-time agent and your home may not be their main concern because they have another job or other priorities to focus on. Choosing a full-time agent who is well connected in all aspects of the industry makes them an all-around great resource. That way, whatever your real estate needs may be, from buying and selling, to home improvement they’ve got you covered. I’m not referring to just lenders, home inspectors and Title Agents, but contractors, electricians, landscapers, painters, movers, any resource you may find yourself needing. Again, they should give you at least two or three to choose from.
Most importantly, what is your agent’s system for staying in touch? Communication is a vital component in the sales process. Make sure the real estate agent you choose takes the time to establish a time and method for keeping you in the loop every step of the way. Will they be available to you when needed, because more often than not when questions arise it’s not going to be during the hours of nine to five. It may not be a bad thing that a high-powered agent is juggling 15/20 homes, but don’t expect them to give you the personal service you’re expecting. Does your agent work weekends and evenings? Once you go under contract, are they going to pass you off to a team member or transaction coordinator, never to be heard from again, or will they be with you until closing and beyond? This is an important factor to weigh. When you’re working with a single agent through the entire transaction you will always know who to contact. While some agents can offer a long time in the business, they may or may not have the experience to get the job done or are more anxious to move on to the next sale once they have you under contract and they’ll pass you on to somebody else in their office who may only work Monday through Friday from nine to five. On the other hand, be wary of an agent with no other customers because they may lack experience and contacts. Nevertheless, whether your agent is new, or a seasoned veteran, look for enthusiasm, commitment, knowledge, and a person who is willing to go the extra mile.
Agents can’t tell you how much your home will sell for. To say that they can is a fallacy. However, a listing agent should be able to show you comparable sales, pending sales, and active sales. Ask potential agents how much they think they can sell your home for. If two agents say $600,000 and the third one says $700,000 think long and hard. It’s likely the high bid is an exaggeration to attract your business. In the trade it’s known as buying a listing. Ask the agent to show you numbers supporting the suggested list price. If the agent has no stats, or if the home sales they are showing you are located in a different neighborhood or area that is not comparable, this could be a big red flag. Look for a listing agent who gives you a range of prices. There is often, but not always, a price range. Many factors determine the range, for example, location, the temperature of the market and improvements in the home. Pricing is an art. If the home is priced right, you’ll likely get an offer pretty quickly, especially in this market. If it’s priced too high, you might not get any showings at all, and you’ll eventually end up having to reduce the price, leaving buyers wondering what’s wrong with your house.
Real estate agents are not equal, each is unique. You will be in a relationship with your listing agent for a month or two, maybe even longer. Choose an agent you like, trust and can relate to. Trust your intuition, your agent should seem sincere. Ask about degrees and certifications. Do they have references? Finally, ask for a personal guarantee. If the agent won’t guarantee performance and release you from a listing upon request, don’t hire them. When it’s all said and done, it really comes down to trust. Choosing a real estate professional is no exact science but what’s important is that you feel comfortable with them as a person and as a professional. Add to that a comprehensive marketing plan and a set time to communicate and you have the foundation for a great working relationship.
As always, thank you for tuning in to the Southwest Florida Realty Show. Naturally, if you or any of your friends or family are thinking of listing their home, I would love to be one of the agents interviewed for the position, but nonetheless, I hope you discovered some key takeaways on what to look for when choosing an agent who will be an advocate you can trust when selling your home. Thank you for tuning in and have a great day!
Speaker’s closing remarks:
Thank you for listening to the Southwest Florida Realty Show with Billee Silva. To learn more about Billee Silva go to www.sw-floridarealtor.com. That’s www.sw-floridarealtor.com. Or call 239-247-2490.