10 Questions To Ask Your Realtor®

Understand that, especially in the heavily regulated world of real estate, it can be increasingly difficult for a Realtor® to offer a performance guarantee. Sometimes you may find a Realtor® who is willing to guarantee that if you are dissatisfied in any way with their service they will terminate your listing agreement. If your Realtor® does not have a performance guarantee available in writing, it is not an indication that he or she is not committed to perform. Realtors® understand the importance of win-win business relationships, and that the Realtor® does not benefit if the client does not also benefit.

8. How will you get paid? How are your fees structured? May I have that in writing?

This is an issue that can also be related to agency. In many areas, the seller still customarily pays all Realtor® commissions through the listing broker. Sometimes, Realtors® will have other small fees, such as administrative or special service fees, that are charged to clients, regardless of whether they are buying or selling. Be aware of the big picture before you sign any agreements. Ask for an estimate of costs from any agent you contemplate employing.

9. How would you develop pricing and marketing strategies for our home? Will you commit to the marketing strategy in writing?

Pricing a home correctly is the single most important factor in determining if a home sells quickly, or at all. Although location and condition also effect the selling process, price is a primary factor. Access to all current property information is essential, and sometimes a pre-appraisal will help. Ask your agent where he or she obtained the information to create the market analysis, and whether your agent included For Sale By Owner homes, foreclosed homes, and bank-owned sales in that list.

10. What will you do and what will you not do to sell my home? Who determines where and when my home is marketed/ promoted? Who pays for your advertising?

Ask your real estate agent to present to you a clear marketing and advertising budget, and how those dollars will be spent. Ask if there are other forms of advertisement/ marketing media that are also available but not mentioned in the budget/plan, and who pays for those. Request samples of the various media that your agent proposes (such as Internet Web sites, print magazines, and local publications). 

For additional information of value in understanding the local market conditions be sure to visit my blog… The Real Story published weekly in the Trussville Tribune and online!

Page 2 of 2 | Previous page