SELECTING A REALTOR WHO WILL MAXIMIZE YOUR PROFIT
It is extremely difficult to knowledgeably select any service professional (doctor, lawyer, accountant, etc.) as there are no objective “yardsticks” one can use to measure ability. Many Realtors look, act, and talk alike. Most are ethical and want to do a good job, however, their experience and skill level (and therefore, the value they can add to your home sale) varies dramatically. In order to hire a Realtor who will be able to maximize your home’s sale price, review the points and suggested questions below.
- How many years of experience does the agent have? It’s risky to use anyone with less than five years of experience, or who has sold fewer than 50 homes. Click here to access an online tool to check a Realtor’s years of experience.
- What special skills, education, or training does the agent bring to real estate? The purchase or sale of a home is becoming particularly complex.
- Does the agent work in real estate full-time? Most agents say they do, but we estimate that half or more do not work full-time in real estate.
- How many sales did the Realtor have during the last three years? Full-time agents should average at least 12 per year and be able to provide you with multiple listing printouts of their sales showing their name on it. However, an individual agent who does more than 25-30 transactions per year won’t have the time to personally work with you on your transaction, and will have to delegate many important activities to assistants who often are not Realtors. Quality of service tends to suffer.
- Have they ever been sued? Realtors, along with the home sellers they represent, are sued regularly by purchasers. Ask the agents how many times they have been sued (lawsuit, arbitration, or mediation), and to list two or three methods they use to minimize the chance that a legal action will result from your home sale.
Most Important: The difference between an agent who does “the basics” when selling your home and one who maximizes your profit is in the specific strategies the agent employs to leverage the process in your favor in each of the following areas:
- Preparing your home for sale
- Inspections and disclosures
- Marketing your home
- Negotiating the sale
- Managing the escrow
If you are considering selling your home, please contact us for our expert, up-to-the-minute, and comprehensive advice.