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Key Factors in Choosing a Real Estate Agent to Sell Your Property

By: SmallBizClub

 

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Whether you’re starting a business elsewhere, moving for a new job, or investing in real estate, selling a home can be a long and complicated event. That’s why choosing the right real estate agent is critical to successfully and profitably selling your property.

The real estate agent you choose to sell your home should be able to easily handle all the legal transactions involved in selling your property. Look for a real estate agent with these qualities:

  • Sell real estate quickly and be able to create an informative marketing plan for a house for sale
  • Experience in sales of a variety of real estate properties
  • Know all the essential terminology, conduct business negotiations correctly, and agree on the most profitable real estate sale price for you

Many home sellers make their final decision based on the agent’s personality and the number of homes sold. These two key points are essential; however, other factors must be considered.  Extensive experience in sales and the ability to negotiate with clients are critical to a successful real estate transaction.  It’s also crucial that the realtor cares about details and communicates effectively with you. Choosing a realtor to sell your home is critical to a successful, smooth, and profitable sale. Learn about the essential qualities your real estate agent should have so that you know what to do. Read the steps below to learn how to select the best agent to sell your home.

Action 1. Find an experienced real estate agent

Local agents should have a keen understanding of the real estate market in the area.  First, do a general search of realtors near me.   You can then look further at qualified agents that meet your expectations. Meet with several agents and determine who will be your best fit.

There are many essential parts to selling a home with a real estate agent. You need an experienced agent with the right expertise to complete the job efficiently, and within your time frame and financial budget. When you find your real estate agent with the experience and skills you desire, look further into their experience and record of real estate transactions.  Next, meet with the real estate agent. Read more on finding the best real estate agent for your needs.

Action 2. Interview the real estate agent

When preparing to meet a real estate agent for the first time, approach it like a job interview. Additionally, meet with several agents.  By interviewing many potential candidates, you can gather important information for yourself before deciding which real estate agent to entrust with the valuable process of selling your property.

To determine the best agent for you, don’t be shy and ask all the questions you are interested in; this is very important before choosing a real estate agent. Ask specific questions. Remember that you are choosing a real estate agent to sell your most valuable property, so ask every question, no matter how small.

Here are some key questions to ask before hiring a real estate agent.

How did you determine the price of the home? Talk to your real estate agent about the price of the home and thoroughly understand the comparable home prices as well.  A real estate agent should tell you more than just providing dry numbers. When a real estate agent can’t explain how your property is priced and determined, it’s more likely that they won’t be able to defend their asking price when talking to a buyer.

How often have you represented the seller and the buyer in the same transaction? Real estate agents sometimes represent the interests of both buyers and sellers in legal real estate transactions.  The agent must disclose their dual agency before proceeding with the transaction.  This results in higher commission checks for agents but can easily result in lower sales prices for sellers. While this doesn’t often happen, be clear on the agent’s responsibilities if it does. Ask about the frequency with which the buyer and seller have been represented in the same transaction and the ratio of these sales to all properties sold.

How many homes like mine have you sold? It would help if you got a rough estimate of how many sold properties the agent has in his listing.  The agent should provide reports of all homes bought and sold and the current number of homes on the market.

Do you have references for previous sales? An excellent real estate agent always has previous clients who can give honest feedback about their work. Ask for the contacts of several clients who have sold their properties through your chosen agent. Before committing to a real estate agent, ask for the addresses of three recently sold homes. When you talk to the agent about this, see if contact information for the previous client can be provided. Put real estate agents who pass this test at the top of your list of available realtors.

Ask your real estate agent if they have a well-thought-out, effective marketing plan. Not all real estate agents have the same marketing strategy. You need to know how each realtor plans to sell your home to potential customers.  Ask if they use a specific method to achieve high results, how they plan to sell real estate in general and what their marketing plan is. Ask your real estate agent the following questions:

  • What is the typical client for this type of property?
  • What features can improve the home selling process?
  • What marketing channels will you use to reach relevant customers?
  • What do your marketing plans contain?
  • Will you be doing professional photo/video/property ads?

Take notes during meetings with your real estate agent. Your goal in the meeting process is to gather vital information to help you choose the right sales strategy.

Action 3. Assess the professional skills and experience of the agent

The next important step in choosing a real estate agent is evaluating potential candidates. Analyze how they would arrive at the asking price for the property. Evaluate the price list offered by each real estate agent. But be flexible with exact numbers. Instead, focus on identifying what each agent has accomplished. Ensure that comparative market analysis (CMA) data supports your selected listing price. Almost all real estate agents do this analysis before or during their first meeting with you. When an agent doesn’t share how they achieved their desired sale price, it usually means one of two things: They’re an inexperienced agent, or they deliberately inflate the price to get the opportunity to work with you.

Assess the sales experience of the real estate agent you choose.  They should have experience selling real estate, including valuable experience selling the same type of property you sell (family home/condo/townhouse) in your area.  Additionally, the agent should be able to estimate the market value of your home.

Also, carefully evaluate the real estate agent’s negotiation skills. Choosing a real estate agent should be based on the fact that he can effectively negotiate the sale of your property and must be able to justify the price you want to receive for your property to the buyer. If the real estate agent you choose does not protect your financial interests, they will most likely sell the property at a price that is not favorable to you.

Action 4. Examine the marketing plan

Marketing is essential in the home selling process. More customers will view your real estate ad, which can lead to better offers in a shorter period. However, not all real estate agents use an optimal marketing approach. For this reason, it’s a good idea to compare the plans of each real estate agent before settling on one. First, look at how your home is presented in the ad. To sell your property in a short period and at a reasonable price, every real estate agent should provide the following things to potential buyers:

  • Submission of crucial real estate information and publication of sales announcements on all significant sites
  • Professional photo and video shooting of real estate
  • Property description by a specialist
  • Open house and negotiations with potential buyers

If these items are not in your real estate agent’s marketing plan, do not select them. Also, look for extras that can help set your property apart from other homes for sale. For example, do they offer a professional video recording of your property, photo, and drone footage?  Also, do they write a unique marketing description of the property?  Using practical marketing tools makes your property visible among many potential buyers. Choose a real estate agent with the best overall sales marketing strategy.

Most experienced real estate agents can sell your home quickly. Real estate agents offer individual commissions for each home sold; therefore, it’s in their best interest to sell a home quickly at a high price.  The right marketing plan consists of three critical parts: identifying the ideal customer, listing available sales opportunities that are attractive to potential buyers, and regular use of various marketing channels to maximize potential buyers’ audience. Compare selling strategies and select the agent that offers the best comprehensive marketing approach to selling your home quickly for the price you want.

Action 5. Avoid real estate agents who are not adequately qualified to sell different types of properties

Real estate agents are fully responsible to their clients, and many meet the highest standards. But, like most professions, finding buyers and negotiating with them requires attention and appropriate qualifications. Real estate agents must be prepared to deal with complex sales.

There are three key things you can do to avoid choosing a real estate agent who doesn’t have your best interests at heart. Do not choose a real estate company with many negative reviews about its services. Generally, the agent you select represents only you and your interests when negotiating and signing the legal agreement to sell your property, so choose a high-quality agent.

Additionally, avoid selecting a real estate agent who charges an exorbitant commission to sell your home. Aim for a top-performing agent whose commissions are reasonable.  Lastly, avoid overpricing or underpricing your home.  Homes that are unrealistically overpriced will sit on the market.  Whereas underpriced homes may raise questions as to the quality of the home.  Or, the home may sell quickly at a low price and get a quick commission just so that agent can earn a commission. It is essential to set a correct, realistic price for your home.

Choose a reputable real estate agent who will provide you with an honest appraisal of the value of your property. This is a reason to analyze the agent’s work history before recommending the services of this real estate agent to other people. A legal contract for hiring a real estate agent is essential when selling your property. Sign an agreement with the real estate agent you hired to sell your home successfully. The term of this legal document is usually six months or less (can be negotiated) and does not provide for termination. Before signing the contract, make sure that the agent you have chosen cannot refuse cooperation at any time. The real estate agent you choose should know that you can always choose another agent if they fail to fulfill their professional obligations.

Action 6. Carefully analyze previous sales experience

It can be difficult for homeowners to find out what services are available before choosing a real estate agent to sell their home. However, you can get an idea by reading online reviews of your chosen agency.   Checking online reviews is a great way to determine what to expect when selecting a real estate agent. But think about more than just the general evaluation of the real estate agent’s activities and services.

Instead, look for these essential things a real estate agent should have: positive reviews, good communication, service, professional negotiation, and responsiveness. Detailed studies and testimonials show how professional a particular real estate agent is. Many agents get reviews on different websites, so spending your time browsing multiple platforms is crucial. This takes more time but increases your chances of choosing the right real estate agent with the right level of professional experience in the real estate industry.

Part of the review process is rating analysis. It will be much easier to choose an experienced real estate agent if you contact previous clients and evaluate the responses you receive. Here’s what you can learn from these reviews: Did the agent work on their behalf? This can tell much about a seller’s trust in a real estate agent. How helpful were their services? This is a great way to see how well individual estate agents are doing at selling different properties to clients. Were they given practical advice before listing the house for sale? Did they make it easier for sellers to negotiate? What was their communication like?

Communication with real estate agents is underrated when selling a home. Many sellers only realize this once it’s too late. Carefully reading the reviews is a great way to avoid unnecessary problems. How long did it take to call you back? How quickly did the agent respond to emails and texts? The last thing you want to do is choose a real estate agent without professional communication skills. All these questions are essential, and it is vital to know their answers, which can be found in the reviews of previous clients of specific real estate agents.

Action 7. Choose the best real estate agent

Choosing a real estate agent is very important. You should work closely with your real estate agent and make informed, sound decisions with safety in mind. Don’t let the agent’s personality influence your choices. Once you’ve decided on a real estate agent, please pick up the phone and let them know you’ve made your choice.  Your decisions affect how quickly you sell and how much money you get. When you need help, choosing the best real estate agents can help you sell your property quickly. When you follow all the steps that have been listed, you will feel more confident about selling your home to an interested agent.

Published: January 31, 2023
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