Selecting the Right Realtor for You

Any time you hire someone to do a job for you, it is best to ask some questions, check some references, use referred providers, etc.  It is no different in real estate.  In any market, it behooves sellers to do their homework and make sure they pick the best Realtor for their needs . . . but in a "tricky" market it is even more imperative.  So, with that in mind, here are a few suggestions and thoughts.

Should you use a friend or relative who is a Realtor?  Maybe yes, maybe no.  Just because you know and like them, does not make them 1) a great Realtor or 2) the right Realtor for you.  Don't necessarily exclude them either, just treat them like anyone else that you interview.  Make sure that they have a great track record, a great marketing plan, etc. 

In your search, my suggestion would be to start with referrals.  Ask your friends who they have used to sell their homes and if they were pleased.  If they speak really highly of someone, then put them on your list to interview.  If you have no referrals to start with, then look at who you may see as the market leader in your area.  Who appears to be getting the job done.

OK, so now that you have a list of a few Realtors that interest you, start interviewing them.  Here are a list of questions that you can use to help you determine the best choice for you and your needs:

1. Are you full-time?  In other words, is real estate really what you do, or do you have a full-time job doing something else and real estate is a sideline for you?  My suggestion . . . go with full-time agents.  It is a very rare bird indeed who can do real estate as a sideline and be succesful with it.

2. How long have you been selling real estate, specifically residential real estate?  Are they brand new, or seasoned in the business.  If someone is brand new, however, don't necessarily rule them out.  If they have the right marketing plan, support, and tools . . . they may still be a good choice.  Why?  Because they are typically "hungrier" and have more time to devote to your home.  Of course, don't pass up a seasoned agent, they can save you a lot of headaches because of their experience. 

3. What types of education have you had and what designations do you have?  This will help you determine who may take there business more seriously . . . who wants to be the best they can be . . . or who has specialized training that makes the most sense for your particular situation.

4. How many homes did you and your real estate brokerage office sell last year?  This will help you determine their level of experience and the amount of activity that gets generated in their office.  Offices with a lot of listings also generate a lot of buyers (due to ad calls, sign calls, etc) . . . and most offices like to sell "in-house" listings first.

5. How many days does it take you to sell a home on average?  How does this compare to the marketplace?  What you are looking for here is how they compare with "days on market".  For instance, if on average it takes 90 days for a home to sell in your marketplace and the track record for this agent is 45 days . . . then they have a great record.  By the way, if they do not know this information, then shame on them.

6. What is your list price to sell price ratio, and how does this compare to the market in general?  What you are measuring here is how close to the initial asking price they typically get for their listings.  If the marketplace in your area has a list price/sell price ratio of 97% (meaning that homes on average sell for 97% of the list price) and your agent has a record of getting 98% on average . . . again, they are doing better than the market.  Again, if they do not know this information . . . shame on them.

7. How will you market my home . . . or tell me about the marketing plan you have put together for my home.  This is really key!  You need to be sure to work with an agent who has the best plan to market your home to the right prospective buyers AND to the agents who work for those buyers.  Putting a sign it the yard and putting it in the MLS isn't usually enough to get the most number of buyers through your home.  

8. What other services does your company provide?  Do they have good access to service providers such as home repair vendors, closing attorneys, mortgage companies, etc?   This can not only help you with your particular needs for getting your home prepared and sold . . . but it also can help to draw more buyers into their network . . . and again, more buyers in their network can mean more buyers coming through your home.

9. What is your business philosophy?  Of course, there is no right or wrong answer here, but it should give you some insight into the type of business person the agent is.

10. How will we keep in contact throughout the listing process . . . and how frequently?  While again, there is nor real right/wrong answer . . . the best response that you can get is for the agent to ask you in return "What works best for you?".  Hopefully they are willing to meet your expectations/needs with regard to how frequently you want to hear from them and in what manner (phone, visit, e-mail, etc).

11. Could you please give me the names and numbers of your three most recent clients?  This is where the rubber meets the road.  Find out from these clients if they would use the agent again.  Are they pleased with the marketing efforts, communication, follow-up, and work ethic of the Realtor?

Be sure also that you like and trust the agent that you choose.  It is hard to work with someone that you just don't have a good feeling for.

Hopefully this information has been helpful to you.  Best wishes in your search!!

Tracy Kirkley

For more information on the listing process and selling your home, please go to www.TracyKirkley.com.