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5 Questions to Ask BEFORE Hiring an Agent

Your home is one of the biggest investments you can make in your lifetime.
Make sure to hire an agent with the right knowledge and tools to help you.
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1. Do you work full or part-time as a real estate agent? 
Full-time agents are likely to give you (and other potential home buyers) more time and attention. 

2. How many homes have you sold in my neighborhood in the past year or two? 
Ideally, you want someone with a track record in your neighborhood and preferably in your price range. If you live in a city that has different property types (e.g. co-op, condo) see how much experience they have selling what you have.

The more stats and data the agent is willing to provide (houses sold, prices, average sale to list price ratio, average days on the market, etc.*), the more confident they are in sharing their expertise and their ability to sell your home.

*As with any stats, beware - they can be manipulated. Ask to see the raw data. For example, a house listed at $120K which was reduced / relisted at $100K and sold at $99K can be said to have a sale to list price ratio of 99% but when compared to the original list of $120K, that ratio becomes 82.5 percent. Reported "days on market" can be reduced in some locales by taking down the listing and then re-listing or simply re-listing the home with another agent. Also, a great average days on market (DOM) in a hot market is vastly different in a slow market. If you are able to determine the average DOM in your market, you can better gauge how a local agent is doing relative to the competition. But this is not an exact science. Drats! 

3. How many sellers are you representing now?
Folks say this can cut two ways. A busy agent may be too busy and an agent with no clients may have more time to market your home. I prefer a busy agent. Maybe it's the wisdom of the crowd? 

4. At what price do you think my house will sell in the current market? And why?
This will give you an understanding of the agent's knowledge of the market and their thought process in pricing your home, the most important decision you'll have to make. An experienced Realtor will refer to the recent market data, the current pool of comparable homes on the market, and your home's condition and amenities in giving you an answer. Make sure they factor in the "unzillowables". Also, if they rely solely on a value based on Zillow or any computer generated home value ... run, run, Forrest, run.

5. What is your advertising and marketing plan for my house?
A blend of online and offline marketing will reach a broader spectrum of buyers. Know the manner and frequency of advertising and any open houses. The issue of open houses is hotly debated by professionals, many who feel they do not produce buyers. There should at least be an open house for other brokers, especially for buyers' brokers.

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Other things to keep in mind...
  • Photos: The more photos a listing has, the more attention the home will get. Ask how many will be taken and by whom. A professional photographer is preferable. There is an ongoing debate whether video is necessary for a listing to sell. In my (biased) opinion, a video of the home and/or neighborhood, done by a professional videographer makes your home stand out from the rest. And, for me (once again biased), it suggests an agent who is up on trends and new technology.
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  • Marketing Materials: Ask to see sample marketing materials. All agents will list your home in the local MLS and their website (make sure they have one) so that's a given. You want to know what else will be done. Compare it to the marketing plan & materials of other agents.
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