Since 2008 it has been a buyers market. If you are thinking about selling your personal residence why wouldn’t you do some due diligence concerning the real estate agent that you hire.
Too many times I have clients hire a friend of a friend that just happens to be a real estate agent. You know the type, the doctor’s spouse that decides to get a real estate license in an up market and disappears when the market takes a dive. Sound familiar?
Here are eight questions to ask your next real estate agent before you sign on the dotted line.
1. Provide a resume of your experience, credentials, and professional designations. Please include listings that are comparable to my residence over the last twenty four months with the sales results.
2. Provide five client referrals(repeat clients would be ideal) and five professional referrals(appraisers, real estate attorneys, bank loan representatives)
3. Provide a written marketing plan to sell my property. This plan should include, national and international advertising, open houses, advertising in local magazines, social media marketing, comparable market analysis, web site and photos.
4. Will you develop a virtual video tour of my residence and where will you post this video?
5. What is your real estate firm’s market presence in the area? How many other professionals are employed at the firm? What is the plan when you are not available to market the residence?
6. Provide a sample sales contract for review. Does your firm offer commission incentives? What is length of our agreement? Are there contract termination fees? Include commission schedule.
7. Provide a checklist to enhance the sale of residence. Examples, paint outside and inside of home, replace all landscaping, replace the roof, etc.
8. Provide three banking/mortgage broker introductions and assist in obtaining a mortgage.
(I would like to thank Cliff Scholz, of Clifford M. Scholz Architects, for his initial questionnaire for real estate agents)
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.