Ready to sell your condo? Then it’s time to start looking for an agent to represent you! a real estate agent will help price your home, develop a marketing plan to get more eyes on your listing and more. It’s important to find an agent that you’re comfortable and confident working with. Here are some questions to ask while deciding on a real estate agent:
- How long have you been in the business?
An agent who’s been in the business for 30 minutes will charge the same as one who’s been in the business for 30 years. Which would you rather hire? That being said, the young and hungry might provide better service. The ideal candidate is one with plenty of experience (10 years+), but still has lots of energy and interest in their business. Like many professions, real estate marketing is changing rapidly, thanks largely to the Internet. The person you hire should be experienced, engaged and keeping up with the times.
- Which area are you most active in? (where is your office located)
This is a great way to compare agents. It makes a huge difference when you choose a local expert familiar with your building and the surrounding buildings from the ground up. This gives you an edge over the competition.
Also, it makes showings much more efficient.
- Are you a specialist?!
In other words, do you buy and sell anything and everything, like houses, commercial, condos, . . .
choosing the specialist can have a massive impact on the price and the contract terms you end up with!
You don’t want to pay for the agent’s learning curves.
4.How did you reach your recommended list price?
The best agents will do their homework and come up with a Comparative Market Analysis (CMA) that is based on your needs and local real estate trends. They will show you the sold prices of the comparable condos in the same or similar buildings.
- What is your average List-Price-to-Sales-Price ratio?
As I mentioned above, you definitely want to avoid an agent that attempts to secure a listing by deliberately overstating the value of your condo. The way to uncover that tactic, as well as gauge the overall effectiveness of the agent, is to ask for their average days-on-market (the lower the better) and list-to-sales-price ratio (the higher the better). To verify those numbers, simply get a list of houses they’ve sold in the last year. Look at the listing prices vs. sales prices and how long the houses were on the market.
Be aware, however, that the easiest way to sell a condo immediately and for 100% of the listing price is obviously to sell it for less than it’s worth. That’s why it’s crucial for you to visit as many condos as possible currently for sale in your neighborhood so you can come to your own conclusion as to what your condo is truly worth. If any agent thinks your condo is worth way less than you do, ask them why.
- What’s your plan?
Ask the agent specifically how they intend to market your condo. In addition to the MLS, what else will they do to expose your house to the greatest number of potential buyers? Examples of things they should do:
- MLS listing with at least 10 professional pictures
- flyers
- online marketing
- virtual tour
Before you give anyone a listing, get a written marketing plan. Ask to see samples of ads, brochures or other marketing materials they’ve used in the past. Remember: this is the single most important thing they’re bringing to the table, and the single best way to compare agents.
- Do you work with anyone else who handles things like paperwork or open houses?
An agent is often supported by a team, but the person you hire should do most of the work.
8- Can you hook me up with other pros?
An experienced agent will have a list of other professionals you might need: home inspectors, title companies, handymen and others. Ask for that list, but also ask if the agent is collecting a referral fee, which obviously makes the referral less objective and thus less valuable.
- How much do you charge?
If you’ve followed all the advice I’ve listed thus far, you’re probably talking to the highest-quality and most experienced professionals in your area. That means they’re probably the least likely to discount their commission. That’s OK. Keep in mind that half of the commission you’re paying is going to the buyer’s agent, and typically about half of the remaining is going to the listing agent’s company. In other words, of the full commission, only a small portion is going to the agent you’re interviewing: not a tremendous amount of wiggle room.
- How will you keep me informed?
Communication is key in most relationships, and this one is no different. Will the representative provide updates regularly or will it be on an as-needed basis? Will they contact you via phone, email, text message or otherwise? You may have your own expectations about how communications will flow between you and your representative, so it’s important to be upfront about whether those expectations match the services provided by the representatives you’re meeting.
- What can I do to make my condo as marketable as possible?
A good agent is going to have lots of tips on making your house sell for as much as possible as quickly as possible, from painting to de-cluttering to staging. Compare the suggestions you get from various agents.
At Home Leader, we pride ourselves in being specialists in resale and pre-construction condos for the past two decades. We are committed to get you top dollar. Use our services and we guarantee you’ll like the result and you will join the pool of our happy clients.