What Questions To Ask A Realtor When Selling Your Home

What Questions To Ask A Realtor When Selling Your Home – Because the right real estate agent can not only sell your house faster and make you more money (especially in a changing market), but also significantly reduce the stress of selling.

There are two questions that are so important that in my opinion, if you don’t get the right answers, don’t hire them – no matter who they are (I’ll tell you what the questions are).

What Questions To Ask A Realtor When Selling Your Home

What Questions To Ask A Realtor When Selling Your Home

Your home is worth what someone is willing to pay for it, but the list price sets the tone.

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This is an analysis that your potential agent will put together that compares your property to the best selling homes (also known as the “comp”).

What you want to see is a breakdown of your home compared to every recently sold property.

The answer you get will give you an instant idea of ​​how skilled a real estate agent is before you hire them.

This is important because if their answer is vague and doesn’t include this kind of information, they’re probably either inexperienced or deliberately raising the price to secure your business.

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You want the response from the sales representative you are speaking with to include data from similar homes that have sold to support their price.

They do this by convincing you that they can magically sell your home for a price that is too good to be true.

This is one of the reasons why revealing what you think your home is worth is one of the things you should avoid.

What Questions To Ask A Realtor When Selling Your Home

One of the upcoming questions will help you almost completely eliminate the possibility of this happening to you.

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The total commission you pay when selling your home is usually split 50/50 between your seller and buyer’s agent.

This means that the real estate agent will double his commission if he represents both the seller and the buyer in the same transaction.

And in most cases, the property sells for much less than if the broker were just representing the seller.

Realtors who have a higher than average number of sales where they represented both the seller and the buyer (compared to other brokers in the same area) are brokers who prefer a higher commission over a higher sales price.

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And that’s why we think this is the most important part of our vetting process when comparing local agents to sellers.

But we rarely recommend a real estate agent who represents both the seller and the buyer in more than 10% of their sales.

If you do, you’ll be selling with someone who has a proven track record of putting higher commissions before the best interests of their clients.

What Questions To Ask A Realtor When Selling Your Home

Pro tip: Before meeting with an agent, ask them to bring a copy of all their sales (for both sellers and buyers).

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This allows you to see the percentage of their transactions where they represented both parties, eliminating the possibility of them pre-disclosing their actual percentage.

Find the best real estate agent in your area We screen local real estate agents so you can find the best real estate agent to sell your home fast for the maximum price.

When you ask a real estate agent how they will sell your home, most of them will discuss these things:

Hearing about how the agent will market your home is great. You need to know how they get the word out.

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A real estate agent who knows how to get top dollar will find positive selling points and use them in marketing.

A good agent will do their homework before your first consultation so they can tell you what sales features they could use.

The type of buyer for each home can vary depending on the area, property type, price range, salable features, etc.

What Questions To Ask A Realtor When Selling Your Home

For example, a buyer for an apartment in San Francisco is likely to be different than a buyer for a family home in the suburbs.

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A buyer for a home listed in a retirement community will be different than a home for sale in downtown Austin.

Of course, your buyer can be anyone, but each home appeals to a wider demographic more than others.

A generic answer from the real estate agent you speak with most likely means they won’t know who they’re selling to.

They do this by using the right sales features that are most attractive to your target audience through the right marketing channels.

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But the best real estate agents will have a plan and incorporate the right marketing strategy to sell your home quickly and for the highest possible price.

Failure to vet a buyer is the number one reason a home goes back on the market after being put on hold.

This is why you need to ask the potential agent how they plan to evaluate the buyer when making an offer.

What Questions To Ask A Realtor When Selling Your Home

All lenders have a maximum ratio. If a buyer can’t get financing, that’s usually why.

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It can also help in negotiations because the buyer’s agent can’t say that the buyer is at the maximum debt-to-income ratio as an excuse why the buyer can’t raise the price.

The answer you get will tell you if the realtor you’re talking to knows how to qualify a buyer.

If you get the answer right, you’ll make it less likely that your sale will fall through, which means you’ll be in a better position to sell faster.

The appearance of your home will affect how quickly and for how much you sell.

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A common mistake many salespeople make is spending too much time and money on things that don’t matter.

The goal is to spend as little as possible and only on things that will give you a return on your investment.

And that’s exactly what the answer should be when you ask a real estate agent this question.

What Questions To Ask A Realtor When Selling Your Home

In many cases, the answer should include inexpensive (and free) fixes and upgrades that make a big visual impact on potential buyers.

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Then adding inexpensive, colorful plants and flowers is a big part of the answer you should get.

There are other closing costs such as escrow fees, title fees and attorney fees (if you live in a state that requires them), but agent commissions will make up the largest portion of your total costs.

Depending on your area and price, the total commission is generally in the range of 5-6% (negotiated) and is split between the seller’s and buyer’s agents.

Asking a real estate agent about costs allows you to compare their services and fees with those of other real estate agents you may be talking to.

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Some brokers who discount their commission are those who will not fight to get you the absolute highest price.

The answer you don’t want to hear is an immediate “yes, I’ll lower the commission” or a very weak answer.

Because if that realtor doesn’t protect their financial interests, there’s a very good chance they won’t protect yours either.

What Questions To Ask A Realtor When Selling Your Home

Because working with an agent who has minimal experience will drastically reduce your chances of successfully selling your home.

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You also need someone who will look out for your best interests (and prioritize your sales).

An agent with recent sales experience will be armed with the local market data you need to make the best offer.

And be sure to confirm that the agent’s response doesn’t include homes they’ve helped clients buy.

Most sellers ask real estate agents this question when they interview because they think it’s necessary.

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Today, many buyers search online and can find out almost everything they need to know about a neighborhood.

Therefore, it is ideal if you hire a real estate agent who has at least some experience in selling real estate in your area.

But don’t cross off agents who don’t have experience selling in the immediate vicinity of your home.

What Questions To Ask A Realtor When Selling Your Home

It also means that as long as your home sells, your real estate agent gets paid regardless of whether you are satisfied with their service or not.

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For example, a common tactic you may hear is how they can sell your home at an unrealistic price.

And the final sales price is usually much lower than it would have been if the home had been priced from the beginning.

Although you cannot cancel the contract, the ability to do so means that the agent’s commission is not “guaranteed”.

This means they will be motivated to sell your home quickly and at a price you are happy with.

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This number is calculated by taking the sales price of all the homes the real estate agent has sold and then dividing it by the sales prices of those homes.

For example, if a real estate agent has an average sales price of $1,000,000 and an average asking price of $950,000, then their sales to sales price ratio will be 105%.

A ratio that is on the higher end means that the realtor tends to underprice the homes they are selling.

What Questions To Ask A Realtor When Selling Your Home

Some agents do this on purpose so they can market the home they just sold to nearby homeowners with something like, “Sold for $$$ over asking price!”

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They do it either because of scarcity

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