How to interview and choose the right agent for selling your home
Selling your home is probably one of the most important investments you'll ever make. This is why it's essential to go through a detailed interview process before hiring an agent. This professional will be responsible for establishing the sale price, executing the marketing plan, holding open houses, interviewing potential buyers, and cooperating with the negotiation of different offers. They will be helping you throughout the entire sales process, right up until the day of closing.
The following is a list of questions you should ask an agent before hiring his or her services:
1. Knowledge about your community. The agent must be able to answer the following questions about your specific building or community:
Current market statistics
1) What is the total number of properties currently for sale?
2) What is the average price of properties for sale?
3) What is the average price per square foot of the available units in my community or building right now?
4) What is the most expensive property currently for sale?
5) What is the least expensive property for sale?
6) On average, how many days are properties taking to sell in my community or building?
Past 6 to 12 months of market statistics
1) What is the total number of properties sold during the last six and 12 months?
2) What is the average price of properties sold in the last six months?
3) What is the average price per square foot sold in the last six months?
4) What is the most expensive property sold in the last six and 12 months?
5) What is the least expensive property sold in the last six and 12 months?
6) On average, how many days have properties been in the market before they were sold?
2. Explain your marketing plan for selling my home. Marketing involves more than just listing the property in the MLS. It is important for your agent to have a formal, structured marketing plan for the job of selling your home. Ask for it.
3. Please provide the comparative market analysis of the last three years in my building or community.
4. Where do you live? The familiarity, knowledge, and experience in the area can make the difference between “for sale” and “sold.” Living in the same area usually means the agent is also familiar with the schools, restaurants, and businesses around the area. This allows him or her to better “sell” the community to potential buyers. In addition, the convenience of working with a real estate agent who lives in the area makes it much easier to show the property and meet with you.
5. Do you have a team? Choose an agent who can provide you with a team of professionals like photographers, interior designers for staging, appraisers, inspectors, lawyers, and accountants who are key in the process of selling a property.
6. Personal References. Ask for the names and telephone numbers of their last three clients.