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10
Questions To Ask Your Realtor®
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| 1.
Are you a full-time professional Realtor®?
How long have you worked full time in real estate? What
professional designations do you have? |
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Knowing
whether or not your Realtor®
practices real estate on a full-time basis can give you a
piece of the puzzle in foreseeing scheduling conflicts and,
overall, his or her commitment to your transaction. As with
any profession, the number of years a person has been in the
business does not necessarily reflect the level of service
you can expect, but it is a good starting point for your
discussion. The same issue can apply to professional
designations.
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2.
Do you have a personal assistant, team, or staff to handle
different parts of the sales transaction? What are their
names and how will each of them help me in my transaction?
How do I communicate with them?
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It is
not uncommon for high real estate sales producers to hire
people to work for them or with them. They typically work on
a referral basis, and, as their businesses grow, they must
be able to deliver the same or higher quality service to
more clients.
You
may want to be clear about who on the team will take part in
your transaction, and what role each person will play. You
may even want to meet the other team members before you
decide to work with the team overall. If you needed help
with a certain part of your home sale, who should you talk
to and how would you communicate? If you have a question
about fees on your closing statement, who would handle that?
Who will show up to your closing? These are just a few of
the many important considerations in working with a team.
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3.
Do you and/or your company each have a website that will
provide me with useful information for research, services,
and how you work with buyers? Can I have those Web addresses
now?
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Many
homebuyers prefer to search online for homes and home buying
information. There are certain privacy and comfort levels
that you might appreciate in starting a preliminary search
this way, and often it is just a matter of convenience,
having 24-hour access to information. By searching the
Realtor®'s and the company's Web sites, you will get a
clear picture of how much work you would be able to
accomplish online, and whether or not that suits your
preferences.
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4.
How will you keep in contact with me during the buying
process, and how often?
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It's a
good idea for you to set your expectations reasonably in
accordance with how your Realtor® conducts business. You
may be looking for an agent to call, fax, or email you every
days to tell you about prospective buyers who have seen your
home. On the other hand, your Realtor® may have access to
systems that will notify you automatically each time a new
visitor tours your home (which could happen several times a
day or several times a week). Asking this extra question can
help you to reconcile your needs with your Realtor®'s
systems, which makes for a far more satisfying relationship.
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5.
Can you explain one thing that you do that other agents
don't do that ensures I'm getting top dollar for my
property? What is your average market time versus other
agents' average market time?
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Marketing
skills are learned, and sometimes a real estate
professional's unique method of research and delivery make
the difference between whether or not a property sells
quickly. For example, an agent might research the
demographics of your neighborhood and present to you a
target market list for direct marketing purposes.
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6.
Will you give me names of past clients who will give
references for you?
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Interviewing
a Realtor® to help you buy a home can be very similar to
interviewing someone to work in your office. Contacting a
Realtor®'s references can be a reliable way for you to
understand how he or she works, and whether or not this
style is compatible with your own.
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7.
Do you have a performance guarantee? If I am not satisfied
with your performance, can I terminate our listing
agreement?
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Understand
that, especially in the heavily regulated world of real
estate, it can be increasingly difficult for a Realtor® to
offer a performance guarantee. Sometimes you may find a
Realtor® who is willing to guarantee that if you are
dissatisfied in any way with their service they will
terminate your listing agreement. If your Realtor® does not
have a performance guarantee available in writing, it is not
an indication that he or she is not committed to perform.
Realtors® at Keller Williams® Realty understand the
importance of win-win business relationships, and that the
Realtor® does not benefit if the client does not also
benefit.
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| 8.
How will you get paid? How are your fees structured? May I
have that in writing? |
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This
is an issue that can also be related to agency. In many
areas, the seller still customarily pays all Realtor®
commissions through the listing broker. Sometimes,
Realtors® will have other small fees, such as
administrative or special service fees, that are charged to
clients, regardless of whether they are buying or selling.
Be aware of the big picture before you sign any agreements.
Ask for an estimate of costs from any agent you contemplate
employing.
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| 9.
How would you develop pricing and marketing strategies for
our home? Will you commit to the marketing strategy in
writing? |
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Pricing
a home correctly is the single most important factor in
determining if a home sells quickly, or at all. Although
location and condition also effect the selling process,
price is a primary factor. Access to all current property
information is essential, and sometimes a pre-appraisal will
help. Ask your agent where he or she obtained the
information to create the market analysis, and whether your
agent included For Sale By Owner homes, foreclosed homes,
and bank-owned sales in that list.
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| 10.
What will you do and what will you not do to sell my home?
Who determines where and when my home is marketed/ promoted?
Who pays for your advertising? |
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Ask
your real estate agent to present to you a clear marketing
and advertising budget, and how those dollars will be spent.
Ask if there are other forms of advertisement/ marketing
media that are also available but not mentioned in the
budget/plan, and who pays for those. Request samples of the
various media that your agent proposes (such as Internet Web
sites, print magazines, and local publications). |