A real estate agent can be your best guide and partner throughout the home selling process.
Knowing which questions to ask a realtor during your first meeting to sell your house is crucial. So what are the questions you should be asking your real estate agent before you sell a property? We list the essential questions to ask below.
Are there any drawbacks to my property?
This question lets you find out whether the real estate agent has any concerns about your property. If the agent raises what seem to be legitimate issues about your property, they are likely being honest with you and will not brush aside considerations just to get you to sign a contract. On the other hand, if they omit obvious flaws, then they might not be very committed to your sale.
What are the expenses?
One of the questions to ask real estate agents at the first meeting is approximately how much will the overall expenses be. This way you can understand whether you want to continue the process or get ready for it for a while. Surprise payments and costs are annoying for everyone. This is one of the good questions you can start with.
How do you arrive at the listing price?
Make sure your agent is knowledgeable about the local market and what other similar homes have recently sold for. This will help you arrive at the right price to complete your real estate transaction.
How will you market my home?
When you ask a real estate agent how they’re going to market your home, most will discuss these items:
- Multiple listing service (also known as “MLS“)
- Syndication to real estate portals (Zillow, Redfin, Trulia, etc)
- Staging
- Property Description
- List price
- Photos/Video
- Advertising (flyers, brochures, ads, networking, etc)
Hearing about these is great. You need to know how they’re going to get the word out.
But you want to dive a bit deeper and hear about their specific approach.
How long will the process take?
While no agents can guarantee how fast the sale and full real estate transaction will go, they should be able to give a ballpark range on how long it will take to sell your house. The national average is 32 days, but it depends greatly on where you live.
How long do your listings take to sell compared to the median days on market?
In order to get an idea of how quickly an agent can sell your home, you’ll need to compare their stats with the overall market. If their listings sit longer than the market median, they could be pricing their properties too high or not marketing aggressively enough.
What is your average sale-to-list ratio?
The sale-to-list ratio is the ratio between how much a home is originally listed for compared to its eventual sale price. A sale-to-list ratio of 100% indicates a home that sells for exactly what it was listed for. Again, you’ll want to compare this to the average for the local market to get a sense if your agent is outperforming or underperforming the market. If their performance seems sub-par compared to the market, be sure to ask why, as there may be a plausible explanation.
What is your total sales volume for the past 12 months?
This metric is relative and often relied on too heavily as an isolated indicator of success. You’ll want to see a healthy number of sales for the year. Sales volume, both in the number of homes sold and the overall dollar amount over a given period, is most useful when considered along with client satisfaction.
How will you keep me up to date on the progress of the sale?
A good agent will be completely transparent and ensure that you are aware of every stage of your property sale campaign. They should have options for different methods of communication to suit you (face to face, calls, SMS, email) and some may even have an online platform so you can log in any time to check on buyer interest.
How Many Listings Do You Currently Have?
A busy agent indicates they are good at what they do but beware of taking on someone so busy that they don’t have time to do the job well. On the flip side, an agent with more availability can dedicate more time to your house sale, but their lack of clients can raise questions about their ability.
Asking questions when it comes to taking a serious step in selling your house is important. It’s your opportunity to make sure you’re hiring someone who will treat your sale as if it’s their own.
Remember, it’s not just about knowing which questions to ask. It’s about getting the right answers.
Ready to sell your home with the best value possible? Consult with National Brokers Network for a Free Property Appraisal! Or sign up for a Free Online Listing for Business, Residential and Commercial Properties We are a team of expert who knows the real estate business very well! Contact us now and find the right realtor for you!
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