Things You Need To Know Before You Hire An Agent

An agent can cost or save you thousands of dollars

Choosing an agent is a critical decision that can cost or save thousands of dollars. You should ask very specific questions to ensure that you are best representing your needs. Some agents may prefer that you do not ask these questions because the information you gain from their honest responses will provide you with a good understanding of the expected outcomes of using them as an agent. Let's face it: not everything in real estate or life is equal.

Hiring a real estate agent is similar to any other hiring process: you sit at the boss's desk. It is critical that you make the right decision about who will handle the situation, because this could be the most significant financial investment you have ever made.
 

    1. What makes you different? Why should I list my home with you?

The real estate market is much tougher now than it was a decade ago. What unique marketing strategies and programmes does this agent have in place to ensure that your home stands out from the competition? What advantages does this agent provide over others in terms of assisting you in selling your home in the shortest amount of time, with the least amount of hassle, and for the most money?
 

2. What is your company’s track record and reputation in the market place?

It may appear that real estate agents are boasting about being #1 for this or that, or that they have sold a certain number of homes. If you're like most homeowners, you've probably grown immune to a lot of this information. After all, you ask, "Why should I care about how many homes one agent sold versus another?" The only thing I care about is whether they can sell my house quickly and for the most money.""
You may be surprised to learn that many agents sell fewer than ten homes each year. This volume makes it difficult for them to do full-fledged marketing on your home because they cannot raise the funds required to pay for advertising and special programmes that will raise your home's visibility. Also, at this low level, they probably can't afford to hire an assistant, so they're rushing around trying to complete all aspects of the job themselves. Bottom line: Their service to you may suffer.

3. What are your marketing plans for my home?

How much money does this agent spend advertising the homes he or she lists compared to the other agents you're interviewing? In which media (newspaper, magazine, television, etc.) does this agent advertise? What does s/he know about the superiority of one medium over another?

4. What has your company sold in my area?

Agents should bring you a comprehensive list of both their own and other comparable sales in your area.

5. Does your Broker control your advertising or do you?

If your agent does not have control over their own advertising, your home will compete for advertising space not only with this agent's other listings, but also with those of all other agents in the brokerage.
 

Another Blog to Read: Why Pricing Your Home Right Is Essential?

6. On average, when your listings sell, how close is the selling price to the asking price?

This information is available through the Real Estate Board. Is this agent's performance above or below the board average? Their performance on this metric will help you predict how much you'll get for your home when you sell it.

7. On average, how long does it take for your listings to sell?

This information is also available through the Real Estate Board. Does this agent typically sell faster or slower than the board average? Their performance on this metric will allow you to predict how long your home will be on the market before selling.

8. How many Buyers are you currently working with?

Obviously, the more buyers your agent works with, the higher your chances of selling your home quickly. It will also have an impact on the price because an agent with a large number of buyers can create an auction-like environment in which many buyers bid on your home simultaneously. Ask them to describe their system for attracting buyers.

9. Do you have a reference list of clients I could contact?

Request to see this list, and then 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 I cancel the listing contract? Be wary of agents who lock you into a long-term listing contract that they can cancel (by failing to effectively market your home), but you cannot. Penalties and broker protection periods are typically in place to protect the agent's interests but not your own. How confident is your agent in the service he/she will provide you? Will s/he let you cancel your contract without penalty if you are dissatisfied with the service provided?

Evaluate each agent's answers to these ten questions carefully and objectively. Who can do the best job for you? These questions will help you make a decision.

Thinking about  SELLING or BUYING a Home,
Richi Khanna can help you and if you have any questions in regards to real estate, then you must call Me today! at
647-997-1281

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Richi Khanna

647-997-1281

Broker

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