10 Questions to ask every listing agent
1. May I see your “Resume”?
How long have you been a full time Realtor.
2. What are the “Current Market Statistics” in this area?
RED FLAG: They just tell you without visuals to show you.
Average market time. Average list price/sales price.
Explain the past and present market trends.
What is selling in the current market: size, style, condition, and price are all factors.
3. What “Improvements and Preparations” should I do before going on the market?
RED FLAG: They are not direct and persuasive. Preparation is important to your bottom line.
Inspection, repairs, upgrades, landscaping, staging
4. How will you “Set My Property Apart” from the others?
RED FLAG: They have no real plan.
5. “Targeted Marketing”, how do you select your target market.
RED FLAG: They have no answer or say that target marketing does not work.
Neighborhood and selected properties in a wider area. Direct Mail, Door Knocking
Open Houses, On-line marketing, and ads: Where and how?
6. May I see a sample of the “Interactive Property Website” you use for my property.
RED FLAG: They don’t have one. Be sure to see the quality of their photos.
7. Please explain your “Home Information Center” and point of purchase marketing.
RED FLAG: They don’t use one or even know what that would be.
8. How often will you provide written and verbal “Progress Reports”?
RED FLAG: They don’t use one and say they will call you.
9. Can I review the “Marketing Schedule” you have prepared?
RED FLAG: They don’t have one but promise that they do it all.
10. Bonus Questions. The two questions on most every Seller’s mind.
Would you list my property higher than market value?
RED FLAG: If they say yes without a 2-week contingency plan to get your property at “perceived market value”. A longer marketing time will bring a lower price.
Will you reduce your commission?
RED FLAG: If the agent reduces the commission from their original offer simply to get your listing. If they can’t negotiate for themselves, how will they negotiate for you? They may have a variable plan.
Four reasons a seller might hire the wrong listing agent.
The company name
Agent suggest a high listing price
They offer a lower commission than the other agents
Just because they are a friend or relative.