With the weather starting to turn, and the sun staying out past 5pm, a lot of homeowners are starting to get their home ready to list on the market. The spring cleaning is in full swing and you’ve already decluttered your home but now you need to find the right agent to represent and help you sell your home for the most money.
One of the most important things to consider is how well you vibe with your agent. However, there are a few questions that you should discuss before moving forward with an agent:
1. “How many transactions have you completed in the last year?” – This question helps you understand if they are full time in your market or if they are just your average weekend hacker. Most full-time agents will average between 10-15 sale transactions per year, with the more active agents doubling that number. One thing to note: Don’t be fooled by realtors who state they do 50-100 listings. They will try to impress you with their stats only to leave you hanging and missing in action once you’ve signed the listing agreement. However, the top agents do roughly 50+ transactions here in our market so you really need to know and vet each realtor that comes by with their listing presentation.
2. “What is your average days on market?” – This is key to any owner trying to sell their home. Having a home sit on the market longer than 4-6 weeks can mean two things.. your home is overpriced, and your agent isn’t strong enough to tell you that you need to reduce your ask price. Homes that sit on the market get stale and that’s when buyers come in and make lowball offers. Your agent needs to monitor the market and advise you on how to get in front of the curve so that you both aren’t wasting each other’s time while your home is losing value each day that goes by without an offer.
3. “What is your list-to-sales-price ratio?” – This number is calculated by what a buyer pays, divided by the last list price expressed as a percentage. This number can be very arbitrary as the market trends up and down. Some times this is important to understand on how pricing affects your home in today’s current housing market. What is key to takeaway here is that your agent is advising you on pricing and you are taking direction from your trusted advisor. Your realtor should be as close as possible to 100%, but obviously market conditions need to be considered.
4. “What do reviews say about you?” – Online reviews can make or break an agent. One bad review can stick out like a sore thumb in a mix of 100 reviews. All you need is one person to have a bad experience with an agent and it can spread like wildfire. If that one review is prominent with the agent you are considering, reach out to that person to make sure their grief is legit. Also reach out to the positive reviews to see if their experience was as good and as flourished as the review states. Again, in the end, you need to be comfortable with the people you chose to hire and work with because they will be there at each step of the way