By Susan Heckman
It’s time to sell your home, and you’re ready to enlist the help of a real estate agent. Who are you going to call?
If you live in New Jersey, there’s a good chance you have a friend, relative, or neighbor that is a licensed agent. NJRealtor.com reports that there are currently about 55,000 members on their collective real estate boards, involved in all aspects of real estate. You could take the easy route and call on this acquaintance to list your home or help you purchase your next.
But while that decision may come easy, it may also come at a real price if your agent isn’t experienced in helping you get the best results on the sale of your home, or doesn’t have the knowledge that only a local specialist would possess.
Selling your home is one of the most important financial transactions you will make. So how do you choose the most qualified agent for the job? We recommend you take the same approach that employers do when searching for the right candidate to fill a position. You review their qualifications and interview them to find the best agent who is a good fit and can best guide you through a successful transaction.
Your agent should be an open and honest communicator, be a strong negotiator who can handle objections and challenges (let’s face it, every transaction faces one bump or another in the road), be available and resourceful, know the local market inside and out, and have the drive and confidence to help you reach your goals.
You are going to be spending a lot of time with your real estate agent, so it's important to work with a professional you feel comfortable with and can trust.
In our own experiences with meeting clients and being interviewed by them, we realized that sellers often don’t really know what to ask when meeting with an agent. We have gathered a list of good questions you might ask in order to help you get a clearer understanding of the agent’s abilities.
Questions To Ask A Candidate
What questions will you ask every buyer or buyer’s agent prior to showing my home?
Will I be communicating with you directly and how accessible are you?
How much info is entered into the MLS (and other home search websites) on the first day a listing is launched?
How often will I be updated on market activity and showing feedback?
Will you use professional photography for my property?
How is a bidding war different from multiple bids? And how do you handle each situation?
How will you advertise my home?
How do you answer this question, “Is the seller’s price negotiable?”
What is dual agency and how do you approach this situation should it arise? What is the difference between dual agency and dual agent?
How does reverse prospecting work and how do you use it?
How is the sales commission divided at closing?
What is your plan if we don’t sell the house after 60 days?
Over the past few years, the scarcity of listings has made competition among agents even more fierce as they prospect for sellers. In addition, there are signs that the real estate market is turning from a sellers market to a buyers market, making it more important than ever to have a knowledgeable agent to guide you through the process during an economic shift.
While you may feel compelled to hire a relative or friend who is licensed, our advice is to interview them along with a few local agents and choose the one who is most qualified to protect your interests and help you succeed.
Need more advice about buying and selling real estate? We are here to help! Visit our website at TheGalleryNJ.com or contact us directly at 732-449-4646 or info@TheGalleryNJ.com