Must Ask Before You Hire an Agent
10 Things You Must Ask Before You Hire an Agent
Not all real estate agents are the same. If you decide to seek the help of an agent when selling or buying your home, you need some good information before you make any moves.
An agent can cost or save you thousands of dollars
Picking an agent is one of those critical issues that can cost or save you thousands of dollars. There are very specific questions you should be asking to ensure that you get the best representation for your needs. Some agents may prefer that you don’t ask these questions, because the knowledge you’ll gain from their honest answers will give you a very good idea about what outcome you can expect from using this agent. And let’s face it – in real estate, as in life – not all things are created equal.
Hiring a real estate agent is just like any hiring process – with you on the boss’s side of the desk.
It’s critical that you make the right decision about who will handle what is probably the single largest financial investment you will ever make.
- On average, how long does it take for your listings to sell?
This information is also available from the Real Estate Board. Does this agent tend to sell faster or slower
than the board average? Their performance on this measurement will help you predict how long your home will be on the market before it sells.
- How many Buyers are you currently working with?
Obviously, the more buyers your agent is working with, the better your chances are of selling your home quickly. It will also impact price because an agent with many buyers can set up an auction-like atmosphere where many buyers bid on your home at the same time. Ask them to describe the system they have for attracting buyers.
- Do you have a reference list of clients I could contact?
Ask to see this list, and then proceed to spot check some of the names
- What happens if I’m not happy with the job you are doing to get my home sold? Can I cancel my listing contract?
Be wary of agents that lock you into a lengthy listing contract which they can get out of (by ceasing to effectively market your home) but you can’t. There are usually penalties and broker protection periods which
safeguard the agent’s interests, but not yours. How confident is your agent in the service s/he will provide you?
Will s/he allow you to cancel your contract without penalty if you’re not satisfied with the service provided?
Evaluate each agent’s responses to these 10 questions carefully and objectively. Who will do the best job for you? These questions will help you decide… READ MORE…
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