REAL ESTATE ARTICLES
Seller Beware - Signs Of A Professional Realtor
How can you tell if you are working with a professional Realtor to help sell your home? What standard of service should you expect? Seems everyone can share a bad experience they or a friend has had working with a real estate agent. What signs should you look for before hiring a Realtor to represent you and the sale of your home?
Seller Beware: The Choice Is Yours!
Before hiring a Realtor to represent you as the seller, do some comparison shopping. According to the National Association of Realtors 2007 Profile of Home Buyers and Sellers; 64% of sellers contacted ONLY ONE real estate agent to help sell their home. That means 64% of home sellers did not receive a second opinion on the fair market value of their home before placing it on the market, nor did they compare the level of services of any other real estate agents available to them.
Service Level Expectations
*The Realtor you consider hiring should first explain your rights as a home seller. A truly professional Realtor will first explain to you that before discussing the sale of your property you should not reveal any confidential information that could impact future negotiations. For example, you should not share with anyone your time frame for selling until you have signed a contract. It is imperative that you fully understand how to protect your most valuable asset during the first phone call or personal meeting with a Realtor so that if you choose not to hire them; you do not compromise future negotiating with any potential buyers that very same Realtor may represent!
*The Realtor you consider hiring should be asking you many detailed questions to understand all the details about your home condition, age of systems and any conditions that must be disclosed by law to potential buyers. They should be familiar with your neighborhood and any pertinent facts that could impact a potential buyer decision. If your Realtor cannot brag about all the wonderful features of your home and the neighborhood, why would you choose them to sell your most valuable asset?
*The Realtor you consider hiring should commit to educate you on the current market, any comparable properties recently sold or on the market now, and provide a thorough market analysis using sales comparison and appreciation methods (if applicable) to derive at their pricing recommendations for fair market value.
*The Realtor you consider hiring should commit to keeping up to date on all current inventory in your market and provide updated market analysis at least every 30 days while your property is for sale. It is imperative that you are informed about trends and changes in your market as they are happening so that your pricing strategy is in line with market trends.
*The Realtor you consider hiring should explain to you the National Association of Realtors® Code of Ethics and how they will work to represent you with credibility, integrity and fair practices in accordance with all local, state and federal laws.
*The Realtor you consider hiring should commit to consult with you about various proven marketing strategies in your market to help sell your home.
*The Realtor you consider hiring should commit to keeping you posted on a regular basis about all marketing activities and any feedback received from buyers as a result of buyer visits or open house activities.
*The Realtor you consider hiring should be accessible to you within reason and be able to answer your questions and concerns or recommend you to qualified professionals who have the expertise you need. Be aware that it is the duty of Realtors® to only answer those questions with which they are licensed and permitted by law to do so. Every state has additional regulations; no Realtor should ever be offering advice about property conditions or repairs to any potential buyers unless they are also a licensed home inspector.
*The Realtor you consider hiring should very clearly explain to you what "dual agency" is and their position. Do they represent both buyers and sellers in the same transaction? Do you want your Realtor to also represent the buyer of your home? What are the advantages and disadvantages of this type of relationship?
Unless home buyers and home sellers require that the Realtor they hire ONLY represent their best interests completely, and not represent the other party in the same transaction, there will always be room for doubt and suspicion of loyalty. It is your right and your choice to make!
These are just a few of the many expectations you should have of the Realtor you hire to represent you as a home seller. Choose carefully and wisely and interview at least more than one qualified Realtor who lives and works in your market. The choice is yours - and the quality of service you receive by the Realtor you hire will most definitely have an impact on your home selling experience.
Copyright Tamela Roche, Realtor