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Questions to ask BEFORE you list your Madeline Island home for Sale

By
Real Estate Broker/Owner with Madeline Island Realty 50317-90

 

Questions to ask BEFORE you list your Madeline Island home for Sale

 

A word of advice..here's a short list of questions you should ask any agent before you list your home with them:

 

-How many real estate transactions have you closed within the last six to nine months? Or during the past year?

How often has that agent attended a real estate closing during the past year?  Are they up-to-date and knowledgeable about the latest changes in real estate and financing?

-What has been your monthly average dollar amount (closed sales) during that time?

It's a good idea to ask if real estate is that agent's career or merely a part-time job.  You'd be surprised how many real estate agents are not full-time practitioners.

-What has been the average sold price for homes you listed during that period?

Does that agent have any recent experience marketing and selling homes in the same bracket as the home you wish to sell?  For example, if you're hoping to sell a home valued at $800,000 and an agent hasn't closed a sale over $400,000 in the past couple years, what are the chances that agent will know how to properly market and sell your home? 

Saving a bit on the agent's real estate commission may sound nice. But remember that a discount on commission only saves you money if the job gets done and the sale of your home actually closes.  No closing means no savings.

 

 

 

 

 

 

Comments(3)

Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Eric, one more important factor is - if the agent knows about local market and what is the sale to list price ratio for the agent..just my two cents..

Dec 22, 2012 02:26 PM
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Praful - Of course knowing the local market is important if one is to succeed in selling a home. Right now, we have a unique situation affecting prices in this remote, second home community.  At present, our local area market is very thin, with few buyers and very few recent comparable sales to go by. There is almost no mortgage lending going on right now in this largely unpopulated NW Wisconsin county.

Our area agents all claim to know the local market, and most sellers are unable to distinguish between agents or companies as far as market knowledge is concerned. We have encountered some competing agents who appear to guess at pricing, instead of looking at existing sales and market conditions. 

Sale to list price ratios are important to sellers also. We're always proud to share our sales stats with prospective sellers and buyers.

It could be argued that an agent's volume of recent closed sales, together with a consistent track record of selling in the past year, speaks to that agent's market knowledge. After all, you don't succeed in today's market by overpricing.

 

Dec 22, 2012 10:15 PM
Jeff Ragan
Ming Tree, Realtors Real Living - Eureka, CA
Luxury Agent, Northern California

And don't forget, "Why didn't you bring your written marketing plan to the listing appointment?"

Dec 23, 2012 12:05 PM