Questions to Ask When Hiring a REALTOR®
With the recently introduced Real Estate Act, TRESA, Sellers now have many options when selling their properties.There are many newer options available to sellers today - from Mere Postings where the seller can save on Real Estate Commissions by taking on some of the non-licensed duties of a Realtor, such as marketing and showing the property to potential buyers, instead of paying real estate commissions.
Any Realtor should be able to tell you how much your home is worth, and how similar properties are selling in this declining market. Who are the potential buyers, where and how will they be reached, and what is the expected price of the property.
Nevertheless here are some relevant questions to help identify a better Realtor to handle your sale.
Questions:
Q - How much expertise do you have when it comes to Marketing and selling this kind of property.
A - An experienced realtor should be able to identify the property, current value range and the how much in demand it is. Not all types of property are valued or in demand equally.
Q. How well is the Real Estate Marketplace - 2023 and 2024 ?
A- Even though covid damaged the real estate market but rising Interest Rates since 2023 and in 2024 have caused the Real Estate Market to tail spin into a recession and lowered prices. An informed agent will be able to identify your homes Market Value today.
Q. Is it a good time to sell my home?
A - Reasons for Selling your home are personal. Not advisable to sell unless you have to. Since it is a depressed Marketplace. Nevertheless any well informed realtor can highlight the advantages even in a declining market. For example a lateral move can be a good thing. For a friendly and informed discussion, you are invited to schedule a zoom meeting with us.
Q. Will you provide references?
A. Even though most think this is a good question, we beg to differ. Most of these reference are bias.
They do not offer an honest picture of things.
Q. How will your marketing plan meet my needs?
There are several Commission and Marketing Plans. Mere Postings are one such approach where the service needed to see the property are chosen by the seller as to his needs and At the services decide exactly what kinds of selling Fees or commissions are payable.
Regardless of the Sellers choices, as realtors we are always acting in the sellers best interest. As the Listing agent, we undertake to measure the property, ensure we are dealing with the seller of his authority, provide Current Market Analysis and outline Marketing and Advertising Plans.
Q. What are some basics every seller should do?
Every seller needs to understand that more than 90% of all buyers start their search on the Internet. Buyers in general want a property free of any immediate repairs needed after the buyer purchases it. Buyers are not familiar with repairs costs and so always assume the worst.
It is very important that every seller do the following:
1. Getting the property professionally cleaned
2. Professionally photograph the property
3. Pay for a pre-Listing Home Inspection of the property to identify things to be done to bring it to normal standards
4. Professionally conduct all repairs identified by the Home Inspection and attach the repair receipts to the Home Inspection and provide it to all potential buyers.
Specifically, how will you sell my home? Where and how often do you advertise? Will you show me a sample flyer? How do you market online?
Q. What separates you from your competition?
35 Years of Real Estate expertise, our goal of providing superior support services and looking after our Sellers best Interests.
Q. Can I review Listing documentation using electronic or Digital signatures?
A. Yes of course. A good Real Estate Agent immediately makes available to every seller the RECO Information Guide. It sets the stage for explaining Real Estate Agency, and responsibilities.
The realtor will also make it a point to explain everything your are signing before you sign anything. The realtor will make forms available to you before you are required to sign them. Ask to explain agency disclosure, the listing agreement and seller disclosure and all other documentation needed.
Q. What kind of guarantee do you offer?
A. Several factors are responsible for a successful sale. Price, market conditions, the uniqueness of the property and demand for this kind of property all play a role. In a declining market correct listing price is the most important factor.