5 Questions Sellers Should Ask Before They Hire A Real Estate Agent

by Elegran | Forbes Global Properties

Photo by Austin Distel on Unsplash

According to the National Association of Realtors (NAR), 82% of sellers contact only one agent before they decide to hire them. Whatever the reason for this, whether it’s a lack of time or simply not knowing where to start, it means that they only have one shot at finding the best real estate agent for their needs.

So, how do you, as a seller, make it count?

5 Questions To Ask Before You Hire A Real Estate Agent

In their report, the NAR also asked about the top qualities that sellers look for in a real estate agent.

The most common answers? Reputation and honesty.

See for yourself:

But how can you know if an agent has a good reputation or if they’re being honest? And what about their market experience and neighborhood expertise?

Well, you just have to ask the right questions.

Here are five that can help you narrow down your search and choose the best real estate agent for your needs.

1) What is your experience in the industry?

The agent you’re interviewing should have a solid understanding of the market and neighborhood where your home is located. They should be able to offer concrete examples of recent sales they completed in your area, how they achieved their clients’ desired prices, and what they did specifically to sell comparable homes.

Notice that the question isn’t, “How many years of experience do you have in the industry?” While this isn’t always the case, agents who have been working in the field for 10+ years may be out of touch with the latest digital trends that can set the seller on a smooth-sailing journey. These trends include DocuSign, virtual open houses, social marketing, and other technologies.

On the other hand, if their experience screams “rockstar!” but they’re too busy, they might outsource some of their work, which could lead to a poor customer experience. If you suspect this might be the case, ask if the agent works in a team with others. If so, what does each team member bring to the table? Lastly, if the agent is new to real estate, don’t count them out just yet. New agents are hungry. They’ll be working hard to make a name for themselves in the industry. They’ll want to prove that they’re worth your business. And this might be the drive you need to get your home sold.

2) What is your marketing plan?

Ninety-seven percent of homebuyers conduct their home search online. As such, your agent’s marketing plan should detail how it intends to reach these ninety-seven percenters. For example, will they be advertising your home on leading sites like Zillow, Streeteasy, and Trulia? What about Facebook and Instagram? What sort of online marketing strategies and search engine optimization (SEO) techniques will they be implementing to drive more traffic to your listing?

You might also consider asking about the agent’s go-to photographer, as professionally photographed homes sell 32% faster than those that aren’t. How will the photographer bring out the best in your home? Do they have access to engaging add-ons like virtual time-lapse, 3D tours, twilight photography, aerial videos, and so on?

If the answer to most of these questions is “I don’t know,” then it might be time to move on.

3) How will you keep me up to date?

There’s nothing more upsetting than radio silence after an open house or a complete lack of feedback post-showing. Your agent should be keeping you in the loop consistently. While this doesn’t have to be every day, you should at least expect an update after significant milestones. This could be an open house where more visitors than you bargained for showed up or even an unsuccessful showing where the feedback was underwhelming.

The agent should also be proactive about communicating, not just responsive. If there’s something you need to know, they should be letting you know asap, even if it’s bad news. Usually, a quick email or text will suffice. In fact, 93% of agents reported that their clients preferred to communicate via text, so it’s likely your agent is comfortable with this mode of communication, too.

4) How do you plan on negotiating?

There’s more to negotiation than just getting the highest possible price for your home. When it’s successful, both parties walk away feeling like they’ve won. The ideal outcome is one where the seller gets their asking price (or more) and the buyer feels like they got a great deal.

Your agent should be able to communicate their strategy for negotiation upfront. Have they ever lost a buyer because the negotiations went sour? Have they been known to give in too easily, resulting in a lower than expected sale price?

A great negotiator will know how to score the highest price possible without offending the buyer or jeopardizing the deal. Ask them how they plan on walking that fine line.

5) What are your fees?

Lastly, you’ll want to discuss fees. Most agents will charge a commission between five and six percent, which is then split between the buyer’s and seller’s agent. Some might try to charge a higher commission while others may offer a lower rate in exchange for fewer services.

You’ll want to compare these options and decide what’s best for you. Just remember, a lower commission doesn’t always mean a better deal. In some cases, it could mean that the agent is less experienced or won’t be doing much to market and sell your home.

The Bottom Line

Hiring a real estate agent is a big decision. You’re entrusting them with one of your most valuable assets. This is why it’s important to do your due diligence and ask the right questions before signing on the dotted line.

Did we miss any key questions? Let us know in the comments below! Or better yet, you can ask Elegran directly. We’ll be happy to hear from you.

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