Essential Questions to Ask Your Realtor When Selling Your Home

Essential Questions to Ask Your Realtor When Selling Your Home

The Realtor John Goodman of John Goodman Real Estate standing behind a recently sold sign on the yard of a two story home.

Choosing the right realtor is the critical first step in selling your home. This can be tricky for those who are not regularly involved in the real estate market. There are several essential questions to ask to ensure that you are making the best choice for your real estate needs.

  1. Are You a Full-Time Professional Real Estate Agent?

It is important to know whether or not the agent you have hired is a full time real estate agent or does real estate part time or as a side business. This can help to determine whether there will be scheduling conflicts, as well as determining their level of commitment to your real estate transaction. While the number of years in business itself does not directly determine the quality of service you will receive, it can be a good indicator if all other factors are equal.

  1. How Long Have You Been Working in Real Estate?

Experience is critical when it comes to successful real estate transactions. Successful realtors are backed by experience in navigating both market trends, as well as handling the complexities of real estate transactions. While this is often quantified in terms of years in business, the quantity of experience and the success rate in transactions is equally vital.

  1. Do You Work Independently or as Part of a Team?

Real estate professionals usually operate in teams, or as individuals depending on the firm. It is important to understand how this works when choosing a realtor for selling your home. There are benefits as well as challenges to working with an agent who has a support team – discussing this with your potential realtor is key for making an informed decision.

  1. How Will You Market My Home?

One story brick ranch style home for sale in a neighborhood in Farmington Michigan

There are a number of different marketing strategies that can be used when selling your home. It is important to understand how your realtor will be marketing your home, especially in today’s digital real estate market. Realtors can use online listings, open houses and print advertising for marketing a client’s house. A strong online presence combined with professional photography is key for a winning strategy.

  1. Can You Provide References from Recent Clients?

Word of mouth is one of the most powerful tools for real estate professionals in gaining and keeping new clients. Past client satisfaction is a strong predictor of a realtor’s future performance, with testimonials and online reviews providing a clear picture of what to expect when working with them to sell your home. Asking a realtor for a list of references for their work is good due diligence for any prospective home seller.

  1. What Is Your Communication Style and Frequency?

Like with any relationship, a business relationship relies on two or more people interfacing for a common purpose or goal. Learning about a realtor’s communication style as well as their expectations of the communication frequency is important for ensuring that the expectations of both parties are met. It is wise for sellers to establish their preferred communication methods as well as overall expectations up front before the home selling process begins in order to prevent issues.

  1. How Do You Determine the Listing Price?

A key aspect of being a selling realtor is determining the listing price for a home. Comparative market analysis (CMA) is one of the most important aspects of setting a competitive price for a listing. Sellers are strongly encouraged to discuss this with their realtor, as well as how current market conditions and property features influence pricing decisions in order to ensure their realtor is making the right decisions for selling their home.

  1. What Are Your Fees and Commission Structure?

Another important aspect for home sellers to consider is what the commission fee structure is for their particular realtor. More often than not, commission rates and fees are somewhat flexible, particularly if the selling realtor will also be the buying realtor for the seller as well on their next house. Home sellers are advised to discuss the specifics of this commission up front, as well as any extra costs associated with their realtors services. If a realtor is not transparent with this, it may be best to look for a different realtor.

  1. How Do You Handle Multiple Offers?

Multiple offer situations can be both exciting and challenging to manage. It is key for sellers to discuss with their realtor the strategies for managing and negotiating multiple offers in order to achieve the best outcome. The realtor should make it clear what their role will be in this process and how they will provide guidance during these situations.

  1. What Sets You Apart from Other Agents?

Every real estate professional has their strong suits when it comes to selling a property. It is advisable for home sellers to ask their realtors what their strong suits are, as well as certifications, awards and other recognitions they have. Additionally, it is important to ask them what unique approaches to real estate sales they bring to the table. This can help the seller understand the values and work style of their prospective real estate professional, and determine whether they are a good fit for their needs.

More Good News

Buyer Consultation
  • Review the home-buying process from start to finish
  • Discuss your home-buying goals and needs
  • Learn about buyer agency representation
  • Review current market conditions
  • Review available homes on the market
Schedule & Tour Homes
  • Apply for mortgage pre-approval
  • Receive customized home search via email and/or in person
  • Notified of any upcoming homes prior to coming to market
  • Review and select available homes to visit
  • Schedule private showings for interested listings
  • Receive listing handout for each home we visit
Contract Negotiations
  • Select home
  • Review comparative market analysis (CMA), seller’s disclosure, and supporting documents for home
  • Write offer to purchase and negotiate price and terms
  • Offer acceptance and earnest money deposited
  • Arrange for home inspection
  • Accept inspection results or request repair/remedy
Closing
  • Mortgage appraisal and mortgage approval
  • Final walk through (if needed)
  • Review closing documents
  • Coordinate closing date, time, location, and contacts
  • Close on sale of home
  • Provide copies of all closing documents