10 Questions Sellers Can't Afford NOT to Ask

Nearly 75% of homeowners say that they WOULD NOT USE the SAME real estate AGENT who sold their last home. And almost as many – 67% – who SOLD ON THEIR OWN say they would NEVER go it alone AGAIN.  Most people, it seems, are dissatisfied with the home sale process, whether they hired a real estate agent or sold the house themselves.

Finding the right real estate agent is a key factor in selling your house for
the most money in the shortest time – especially in today’s tight market.

 If you’re thinking of selling your home yourself, it’s true that you’ll save paying a commission, but all the research shows that you’ll actually cost you in other ways than if you used a qualified, professional real estate agent. For example, you’ll be paying all the marketing costs. You’ll have to be available to show your home. You’ll have to take all the calls. You’ll have to negotiate the deal and hope that nothing goes wrong that could end up in court and costing you thousands of dollars. In addition, real estate agents sell homes for about 10% more on average than homes sold without professional representation.

The right full-time professional real estate agents – like those at MyPhoenixMLS.com – sell homes all day, every day. This is their full-time job. They know how to properly market a home. They know what it takes in any market to get top dollar. They have access to the right market information to properly price a home and make sure it is not eliminated from a potential buyer’s search. The MyPhoenixMLS.com team has an extensive marketing network to get their clients’ listings in front of potential buyers 24-7.

 So how do you know you’ve got a good agent? Use the 10 questions you can’t afford not to ask!

Question #1: Will you write a marketing plan that’s tailored specifically to my home?

Marketing is how you get the word out about your home for sale. Your real estate agent’s ability to market your home efficiently is key to the sale of your home. When interviewing real estate agents, ask about their marketing strategies. Ask how much they spend on advertising and where they advertise. (How much money a real estate agent spends on marketing is not nearly as important as how he spends it.) Ask what kind of innovate technologies they use to market your home (in today’s highly competitive housing market, old selling methods aren’t as effective).

The experts at MyPhoenixMLS.com have a comprehensive 15-point marketing strategy that will target those most interested in your property. For example, ask your prospective agent if your home will be a “Featured Listing” on Realtor.com? What about virtual tours? What about other websites? But there is more than just the Internet. Ask about that too!

If you’d like to see what sets MyPhoenixMLS.com’s program apart from the rest, call us right now at 866-249-1678 or 602-318-1114 or email us at info@myphoenixmls.com.

Question #2: Are you a real estate agent or a Realtor®?

Many people use the terms real estate agent and realtor interchangeably. But, in fact, they are different. A Realtor is a member of the National Association of Realtors, which requires its members to adhere to a strict Code of Ethics. The Code requires Realtors to “Pledge themselves to protect and promote the interests of their client and to treat all parties honestly,” among other requirements.

The fact that a real estate agent is a Realtor does not guarantee that he will be ethical in his transactions; just as a real estate agent who is not a Realtor is not necessarily unethical. But the Realtor designation can provide you with an extra measure of security.

Question #3: Do you have the connections necessary to get my house in front of many other real estate agents and prospective buyers?

According to the National Association of Realtors, 82% of home sales are the result of agent connections.

As a Realtor and as part of the Keller Williams family, the team at MyPhoenixMLS.com has the connections to get your house sold. Your home will be part of the extensive Keller Williams Realty Relocation Service and will be shared with all Keller Williams agents in the Valley. 

Question #4: Do you have professional references (other homeowners you’ve worked with) who I can contact?

If an agent doesn’t have a list of clients he’s worked with, it either means he’s a new agent without any experience, or he doesn’t have any satisfied clients to refer you to. The more references the agent gives, the more likely that he’s experienced. But it doesn’t necessarily mean that he’s the right agent for you. So call the agent’s references and ask about the factors that can make or break the agent-client relationship, including:

• Whether they would hire the agent again
• The agent’s personality
• The agent’s selling process
• How close the selling price was to the original asking price
• How long it took for the home to sell

Question #5: What’s your track record?

At the end of the day, what you care about is whether an agent can sell your home for the most money in the shortest time. But an agent’s sales record can tell you a lot about how long it will take for that agent to sell your home – and at what price.

Ask for basic statistics on the agent’s past sales, including:

• On average, how long did it take for your listings to sell? How long it will take your home to sell depends on a number of factors, not all within the agent’s control. But the agent’s average sales time can give you an idea of how quickly he sells his clients’ homes – and how quickly he might be able to sell yours.  
• On average, what was the difference between the selling price and the asking price? A good real estate agent will be able to tell you the right price to ask for your home – so his statistics shouldn’t reflect large differences between selling and asking prices.  
• How many homes have you sold? Out of how many listings? An agent that lists hundreds of homes a year may not have enough time to devote to your home sale. The average real estate agent in Arizona sells just four homes a year. How does your potential agent stack up? .
• For how many years have you been selling real estate? Though the number of homes an agent has sold is a better indicator of his experience, the length of time he’s been a real estate agent is important, too.

Question #6: Will you discuss with me the market analysis you did on homes in my area? Will you be forthcoming with the information you use to price my home?

The best price for your home is fair market value. Your real estate agent should help you determine what fair market value is by conducting a detailed market analysis of homes in your area. Generally, a good way to figure out your home’s market value is to look at the prices of similar homes that have sold in your neighborhood in the last six months.

When your agent tells you what he thinks fair market value is for your home, ask to see the analysis. The market report should include a list of homes that have sold recently in your area and their features as well as general sales statistics for your area (average days on the market, average selling price, etc.).

You can get a FREE market study of the recent home listings and sales in your neighborhood on the MyPhoenixMLS.com website or by just clicking here. You can also contact the team of experts at MyPhoenixMLS.com by phone at 602-318-1114 or 866-249-1678 or via email at info@myphoenixmls.com.

 Question #7: What makes you different? Why should I list my home with you?

In today’s tight buyer’s market it is especially important to find a real estate agent who will market your home aggressively and efficiently. Yesterday’s marketing tools no longer suffice. Ask the agents what plans they have to make your home stand out among all of the other listed homes. What does this particular agent offer that others don’t to help you sell your home quickly and for the most money?

A good real estate agent will be able to articulate the advantages he offers over other agents. Compare the advantages of the different real estate agents you interview to decide which is best for you.

Question #8: Do you have experience selling homes like mine, in my area?

A real estate agent may be experienced and successful selling multi-million dollar homes in Scottsdale. But if you live in a modest neighborhood in Tempe, that agent’s experience doesn’t mean as much. Look for an agent that has experience selling homes in the same price range and type of neighborhood as yours. An agent who represents buyers and sellers in a particular area will more likely be able to find buyers for your home than one who usually works in a different area than yours.

Question #9: How many buyers are you currently working with?

While the number of clients your real estate agent has will affect how busy he is – and how much time he can devote to selling your home – in general, the more buyers your agent works with, the better. That’s because it increases the chances that your agent will be able to point one of his own buyers toward your home. And if the agent has enough buyers interested in your home, he can set up an auction-like process where buyers can bid for your home (when buyers bid against each other, you’ll typically get more money).

Question #10: Can I cancel my listing contract if I’m not happy with your service?

Most agents require their clients to sign a listing contract that binds you to stay with the agent for a specified period of time – and imposes penalties for cutting out before the contract has expired. Yet many listing contracts don’t require the same of the agents (they can simply stop actively marketing your home).

Talk with prospective agents about options for early contact termination, without penalty, if you’re not happy with the service they’re providing. Write your service expectations into the contract so your agent understands what you expect him to do – and get the agent to agree in writing to the service he will deliver (while an agent can’t guarantee he will sell your house in a specified time frame for a specific price, he can guarantee, for example, that you’ll receive weekly market reports, or give you a staging consultation).

As a Certified Negotiation Experts and Certified Home Marketing Specialists, the team at MyPhoenixMLS.com is happy to answer these ten questions and any others you may have. Call us today at 602-318-1114 or 866-249-1678 or email us at info@myphoenixmls.com