Selecting a real estate agent to facilitate the sale of a home or condo is an important decision for anyone. It may be the most important decision you can make that affects your net worth. We are offering 10 tips to guide home and condo sellers through the real estate agent selection process.
1. First of all, it should be understood that a real estate agents are licensed by the State of Florida to protect consumers. It is imperative that you check online with the Florida State licensing board to ensure potential selection candidates are currently licensed and in good standing with the board. This information is readily available online these days for ease of access.
Pay Attention To Licensing With A Real Estate Agent
2. Also, check for the type of real estate license held by your final selection candidates. For example,it is much more difficult to pass a test for a Broker license than an Agent license. This is a hugely overlooked fact by most people. When you work directly with a Broker you are working with someone in the top license category. Agents must work under a Broker, so there are many benefits working directly with a Broker. One important benefit to home sellers is negotiating the sales commission percentage. We as a Broker can offer a 4% sales commission fee because we have this top license certification from the State of Florida. As a seller, you should work with a qualified Broker level agent and save thousands of dollars in real estate selling costs.
3. Check to see how long a person has been in the profession. Experience of five years or better means that the individual has had sufficient time to understand the market area and local marketing techniques. The license date of issue can also be found on-line at the State website.
4. Review any disciplinary actions or complaints. Most brokers and agents will have none of these in their record history. For example, the State of Florida offers the following online website to check on real estate license status, disciplinary actions, or complaints.
Avoid Competing Neighborhood Listings
5. Remember, you are hiring a person, rather than a company. Folks get caught up with large real estate agent firms, but forget that the firm/name rarely has any role in helping them. Rather, a large firm only offers competing listings to yours. Wouldn’t you rather sell using a broker level agent that does not represent other listings in your neighborhood? This is a very important consideration. If you hire a real estate agent or real estate agent firm handling other competing listings in your neighborhood, you are hiring someone with a conflict of interest.
Following is one example of why this is a mistake. Your neighbor down the street lists their home a couple of months before you. For whatever reason, you decide to hire the same firm or agent. Your neighbors listing Agreement will therefore expire about two months before yours. Let us say your neighbors home has not sold as their listing Agreement nears expiration. The real estate agent and firm the agent works for will have a bias to show and feature your neighbors home first. This is clearly not good for you. We advise home sellers to use a different firm and Agent that doesn’t offer competing listings to yours. As a Real Estate Broker, we advise home sellers to evaluate this.
Real Estate Agent Or Broker | Review Their Experience
6. Make sure a prospect has successful transaction history at your price level. It is rather ideal for a real estate agent to have represented activity at your property’s selling price. If you are selling or buying high-rise condos on the beach, make sure that their experience shows that. If you are selling or buying waterfront homes, see that they have been involved with that type of transaction.
7. Also, look for listening skills and attentiveness. It is rather important that a candidate understand what your needs are, and make notes of them. When negotiating for you, they will need to keep these top-of-mind.
8. Enthusiasm and attitude. This is where your instincts should be trusted. Also remember that this person is about to become your representative. Buyers and sellers enjoy dealing with happy and positive people.
Real Estate Agents Help With Pricing
9. First of all, pricing decisions about your home or condo are very important. A price range should result from a comparative marketing analysis (CMA). The CMA is a detailed calculation comparing similar homes to yours. It is a science really, and only capable real estate agents should complete one. Establish the correct value for your property through a CMA.
10. Future communication promises and possible price reductions. Get weekly sales activity updates from the real estate agent or broker. It is important that you know what happens every week with your listed property. In addition, stay involved in the process. It is important that you have an active role in selling your home. If a price decrease is necessary, you should understand why.
How To Work With A Real Estate Agent
So stay involved, it will help sell your home. In addition, a good indication that things are going well will be the number of showings. The more showings, the more likely your home or condo will sell. It is all in the numbers. Pay specific attention to the comments from buyers, positive and negative. A real estate agent should be passing these comments along. It gives sellers a chance to correct things if necessary. Bottom line, they should keep you informed. Also, it is should not be necessary to track down someone for this information.
We hope these 10 tips for selecting a real estate agent will be helpful. We wish you luck in your quest to purchase or sell your home or condo. Feel free to share this information with a friend or relative as well. As a result, they will thank you for it.