The Right Listing Agent - Your Second Key to Success

The second thing to consider in a successful sale is the listing agent you choose. Ideally your agent will be your go to guy or gal for every aspect of the sale, including the other aspects that we're discussing here -- price, exposure, and condition.

Questions to Ask Your Real Estate Agent

• What are the issues we face when you help me to price my home? Do you have any programs or suggestions as to how we can get a precise and fair market price? How will you help me know which end of a range of prices we should shoot for? What is your policy if we disagree about the price?
   
• What techniques will you use to expose my home? How do your marketing methods differ from those of other agents? (Look for someone who has aggressive, innovative approaches, not just someone who's going to put a sign in the yard and hope for the best.)
   
• How long have you been in residential real estate sales? Is it your full-time job? (While experience is no guarantee of skill, real estate, like many other professions, is mostly learned on the job.)
   
• Are you a Realtor®? (Members of the NATIONAL ASSOCIATION OF REALTORS®, a trade organization of almost one million members nationwide, subscribe to a stringent code of ethics that helps guarantee the highest level of integrity and service.)
   
• How many homes did you and your company sell last year?
   
• How many buyers do you work with every year? Do you represent both buyers and sellers?
   
• Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? (While it's usually legal to represent both parties in a transaction, it's important to understand where the practitioner's obligations lie. A good practitioner will explain the agency relationship to you and describe the rights of each party. It's also possible to insist that the practitioner represent you exclusively.)
   
• How many of your buyers come from your listings? How many from your broker? How many from other efforts? (The answer to this question will tell you whether your agent is actively attracting buyers, or simply relying on whatever may come in through the broker).
   
• What's your business philosophy? (Although there's no "right answer" to this question, the agent's response will help you assess what's important to the real estate practitioner -- fast sales, service, etc. This will help you determine how closely the agent's focus meshes with your expectations.
   
• Can you give me the names and numbers of five recent references?
   
• How will you keep me informed about the progress of my transaction? How frequently? Using what media? (Again, this is not a question with a correct answer, but that one reflects your desires. Do you want updates twice a week or don't want to be bothered unless there's a hot prospect? Do you prefer phone, e-mail, or a personal visit?)
   
• Will my listing have an "escape clause" if I change my mind, or will I be locked into working with you?

Mistakes to Avoid When Selecting an Agent

• Selecting your agent based solely on commission discount.
  As I was working on this article, my partner phoned to let me know she was working with a past client who had just called her up to list her home, complaining about the company she'd listed with. Without naming names, this company is one of the more popular "discount brokers" that have sprung up in recent months. This company had given our friend what she thought was a "great deal" on listing her home, but months later her home had never even been entered into the MLS.
   
  In Real Estate, as in so many things, you get what you pay for. If you do select a discount broker, make sure you know exactly what you're getting, and how it compares with what a full service agent will do for you.
   
• Failing to check references
  You would probably check references on a roofer or contractor, yet we're often surprised at how many clients meet with us without asking for references. Protect yourself -- ask for references.
   
• Choosing the agent who offers the highest price on your home.
  Remember what we've been saying, Price Is King. Also, some agents use a technique known as "buying the listing", knowing they can play on a consumer's greed to get the listing they want. Ask yourself questions like "If the price is so high, why won't all agents offer it to me?" After all, agents are paid more if the price of the home is higher, so there's no reason for them to "lowball" you.