9 Questions To Ask Before You List Your Home For Sale
Most of us sell only a small number of homes in our lifetime. With limited experience in real estate, how are we capable of maximizing the profits from our home sale?
Many home sellers make the critical mistake of thinking all Realtors are the same—They list with the first agent who comes along. Does it make good business sense to put the responsibility of selling your home with someone who has no plan or qualifications?
This special report will educate you with valuable information that will help you make the best and most informed decision.
#1 CAN YOU SEND ME INFORMATION ABOUT YOURSELF?
You can often get a good idea of which agents are the most professional by looking at their promotional materials. If their own materials aren’t professional, how well are they going to market your home?
Track how long each agent takes to respond to your request and how quickly they follow-up. If they don’t respond efficiently to your listing requests, imagine how they’ll handle potential home buyers.
#2 HOW MANY HOMES HAVE YOU LISTED AND SOLD IN THE LAST SIX MONTHS? (Team Vivi completed 117 real estate transactions in 2017.)
Look for an agent who has experience with homes similar to yours. If your home has special features, look for an agent with experience in those areas. Your agent should have a good record of selling homes, not just listing them. After all, selling is your ultimate goal.
#3 WHAT IS YOUR AVERAGE LENGTH OF TIME FROM LISTED-TO-SOLD? (Over 90% of Team Vivi’s listings go under contract within 4 days of the list date.)
Don’t automatically assume a shorter time on the market is better. That could reflect selling homes quickly at lowball prices. You want an agent who can sell your home and meet your goals of sales price and time on market.
Sometimes these goals may conflict with one another, so look for an agent who clearly understands your market and why homes sell when they do.
#4 HOW LONG HAVE YOU BEEN IN BUSINESS AND WHAT PROFESSIONAL ORGANIZATIONS DO YOU BELONG TO?
The length of time a real estate agent has been licensed is not a sure fire sign that they’ve been actively selling homes. They may have been in business for 10 years but only part time, whereas an agent who’s been in business for 2 years may be a real top producer.
You might want to ask them about their education, prior employment, and accomplishments. You should also take into account the professional organizations they belong to. The minimum should be a licensed professional who is a member of the local real estate board and multiple listing service as well as the state and National Association of Realtors.
Local community groups and associations are also pluses in terms of networking and commitment.
#5 DO YOU HAVE AN ASSISTANT OR SUPPORT STAFF? (Team Vivi has 3 full time Marketing staff, 3 full time Transaction Coordinators, and 8 full time Agents.)
By employing a team of professionals to handle the details of their business, the agent can focus on selling your home. In general, it is good if the support team does most of the legwork as long as the agent is there at the most critical times of the transaction period.
#6 HOW OFTEN WILL YOU HOLD OPEN HOUSES? (Team Vivi will list your home on a Thursday and hold a Luxury Open House that weekend to maximize offers.)
Will they be public or by appointment only? Simply putting a sign on your lawn and holding open houses every Sunday will not sell your home. Look for an agent with a specific plan for each open house. The plan should be just one facet of a complete marketing plan.
#7 WHAT LISTING PRICE DO YOU RECOMMEND AND WHAT IS THAT PRICE BASED UPON (Along with providing a detailed comparative market analysis, Team Vivi’s large amount of business in the Denver Area give us the knowledge needed to maximize your home price.)
Pricing is the most critical step to selling your home. Take great care in choosing an agent with the knowledge to price your home effectively. Keep in mind the selling price should attract prospective buyers to your home, get you top dollar in the current market, and reflect the condition of your home.
Be realistic and avoid ‘yes agents’, who will say ‘yes’ to any request or price while your home languishes on the market. Low-ball agents will try to talk you into an artificially low price simply to sell as fast as possible.
#8 WHAT DOES THE LISTING AGREEMENT ENTAIL? (Team Vivi will always send you a copy of the listing agreement and are more than happy to discuss in detail any questions or concerns you may have.)
Have your agent go over every detail in the listing agreement until you understand it completely. Make sure the beginning and ending dates are on the agreement. Know exactly what fees you will be paying and remember that less is not always better.
If the agent stands to make very little commission, you can bet it will be reflected in the amount of time and effort that is spent marketing your home. If the agent reduces their commission to get the listing it may mean they intend to spend very little money promoting the property.
#9 WHAT SEPARATES YOU FROM YOUR COMPETITION? (Team Vivi is proud to have received the Denver Metro Association of Realtors’ Diamond Award; recognizing top agents in the Denver Metro Area for selling over 100 transactions and closing 52 million in annual sales. We are constantly striving to be the best in our industry by consistently improving our systems as well as remaining up to date with current market trends and technology to provide the best service possible to our clients!)
How effectively will they advertise? Do they have 24-hour advertising capability? Will your agent’s team follow up on all the leads on your home, or will they go to other agents who may have other listings they would prefer to show?
Agents who are innovative and offer new methods of attracting home buyers will measurably out-perform agents who rely on methods of the past. Marketing effectively requires progressive strategies that add value and service for both buyers and sellers!