Dated: October 1 2022
Views: 64
When a homeowner decides to sell their home, they usually have two major priorities – highest list price and lowest professional fees. While maximizing your profit is important, there are many other factors you should consider. Otherwise you could end up with a realtor that over promises and under delivers.
If you’re looking for a real estate agent to sell your home, here’s what you should look for:
Your realtor should have several skills and attributes if you want to make the most from selling your home. These are 10 important ones to look out for:
Knowing how to price homes is one of a realtor’s most important skills. Unfortunately some real estate agents will distort the truth or tell homeowners what they want to hear to get the listing.
In both of these situations, you could end up listing too high, which can lead to serious issues. The first is that buyer’s may avoid the listing if they perceive the price as being too high. This can give your listing a bad reputation that lingers even after the price drops. It also increases the chance of getting low bids. That’s because overpriced homes often stay on the market for a long time and have fewer showings.
Over time, the lack of interest and low bids can get disheartening. This leads many homeowners to accept a lower offer than what they would have received if they’d listed properly in the first place.
A good realtor won’t just tell you what you want to hear. They'll use training, comparable sales, market knowledge and experience to recommend an ideal price range for your home. They’ll also show you how they came to their conclusion and will explain the risks and benefits of choosing a specific price.
Staging your home not only increases its value, it can also shorten the amount of time it takes to sell. This is because a staged home makes it easier for buyers to connect with the space.
It also helps photos look more professional, which will aid in your realtor’s marketing. We’ll talk a bit more about marketing plans in a bit.
A high quality realtor will provide tips on how to maximize your home's look and feel. This may include tips on improving curb appeal, organizing and decluttering or defining rooms.
If there are repairs that need to be made, your realtor will explain whether you should do them to increase sellability and profit. If you decide to do repairs, your real estate agent should also recommend service providers.
Communication is critical in all areas of your life, including when buying or selling a home. That’s why you want to find a realtor that makes communication a priority.
Poor communication isn’t just frustrating for you as the homeowner. It can also lead to lower interest and showing. That’s because a realtor with poor communication can develop a bad reputation with peers and prospective buyers.
Yes, you should trust the expertise of your realtor. But your realtor should also understand that you need to be a part of the decision making process. You need an realtor who checks in regularly with updates, not just when an offer comes in. This includes sharing:
That’s the only way to ensure you’re doing everything you can to maximize the sale.
To be sure your realtor is a good communicator, you want someone who is accessible. Look for quick response times to your calls and emails. A realtor who delays early on will likely be a poor communicator.
Once you find a realtor you feel comfortable working with, ask them to reach out with any new information. Don’t be shy. Your real estate agent is your partner, not your boss.
If you want to sell your home for the best price possible, you need a realtor with an excellent marketing plan. Marketing helps realtors build connections and find leads. After all, if they aren’t reaching potential buyers, how can they expect to garner interest in your home?
One of the most critical aspects of a strong marketing plan is high quality photos. You’ve probably heard the saying, “pictures speak a thousand words” and this couldn’t be more true in real estate.
High quality photos and videos are essential to selling a home. To get these visuals, your real estate agent should have high quality equipment or work with a talented photographer.
If you aren’t sure whether your realtor is prioritizing images, don’t be afraid to inquire. Ask any prospective realtors how they will get photos of your home. You can also review past listings to see what they have done in the past. Look for:
You also want to be sure your realtor isn’t solely depending on MLS. While MLS is a good tool, a strong marketing plan will take advantage of other channels. Do some research and make sure your realtor has a:
Again, look at past listings to see how they shared them or ask them how they marketed a similar listing to yours.
Ultimately, you’re looking for an realtor who has a strong understanding of what works in their market. They should also know what works for specific audiences, which leads us to our next point.
To maximize your home’s sale, your realtor should have a strong understanding of who they are selling to. They could have the best marketing strategy in the world, but if they're targeting the wrong audience, it means very little.
That’s why, when looking for a prospective realtor, you should ask who they will be marketing to and why. A competent real estate agent will do research on their client’s location. They will know who lives there, who has recently bought and who is most likely to move in next. And they’ll know who will pay the most for your home.
Most importantly, they won’t just expect you to take their word. When asked, a good listing agent will be able to provide an explanation for why they chose a specific audience.
Realtors use past experience and industry knowledge to make the best possible recommendations. Most of the time, a qualified realtor will get it right. But even the best realtors experience situations that don’t go as planned.
Sometimes it makes more sense to stay the course and push past obstacles. Other times your real estate agent will need to pivot. If they aren’t getting the response they expected, they should be willing to change their plan.
This may include:
No matter the solution, you want a realtor who is flexible.
When vetting prospective realtors, ask them how they have pivoted in the past. A good real estate agent should be able to tell you how they took a hard to sell home and helped it sell for top dollar.
Most people have little experience with selling a home. This may even be your first time doing it.
Your realtor, on the other hand, has spent years learning the ins and outs of selling homes. That’s why a good real estate agent won’t expect you to take the reins. Instead, they will help you understand the process, keep you informed and let you know what role you need to play.
This includes taking the lead on showings and open houses. A good realtor will schedule all showings and communicate when they’re happening. This will give you time to tidy up and make plans to be out of the house.
To find out how a realtor manages their showing, ask them about their process. Find out how much notice they give, how they will contact you and whether they have recommendations for what you can do during showings. This will give you a good idea whether they’re prepared and have thought about the process in advance.
When you sell your home, you’ll have many different people interested in seeing your space. Some will be pre-approved for a mortgage, others will be pre-qualified. There will also be some who are just interested in looking but have yet to speak with a financial institute.
A good realtor will vet interested parties to make sure they’re ready to buy. They’ll also confirm that anybody making an offer is pre-approved … not just pre-qualified.
You want a buyer who has already gone through all the paces. This includes a credit check and income verification. While there will still be conditions the buyer needs to meet to get funding, those who are pre-approved are more likely to receive funding. Those who are pre-qualified or just looking can run into more problems and are more likely to fall through.
There are two types of inspections that can happen when selling a home. The first is a seller’s inspection. This inspection happens before you list the home and will tell you what issues you may need to address. This saves time during closing, increases saleability and allows you to choose the inspector.
The second type of inspection is a buyer’s inspection. This will happen after you accept an offer but before you close. After the inspection is complete the buyer will often renegotiate their offer or ask for repairs.
In most markets, buyers will want a home inspection as part of their offer. As a seller, you want to be ready for this.
That’s why your realtor should be able to explain the process and help flag issues that need to be resolved prior to listing. Following the inspection, your realtor should help you understand the findings. It’s also important for your realtor to have an understanding of inspections so that they can manage buyer expectations. This includes protecting you from unreasonable requests.
This is your realtor’s time to shine! Once they receive offers from prospective buyers, your realtor will review each one. They will then provide you with advice on how to proceed. If the buyer asks for concessions, your realtor will explain what repairs you should pay for and what repairs are the buyer’s responsibility.
Once you have made your decisions, your realtor will then help you negotiate the best deal. This means your realtor needs to have strong negotiation skills.
After a deal has been finalized, a top notch realtor will guide you through the paperwork. They will also tell you about any loose ends you need to be aware of.
Realtors have several duties to sellers beyond getting the best price. That’s why, when looking for a realtor, you should consider several criteria.
Look for a realtor who is willing to share information and communicate effectively. They should provide advice and explain the process to you.
Once you have found someone with these qualities, ask them lots of questions. Find out how they will manage showings and how they help with closing the deal. Make sure they have an excellent marketing plan, know they’re audience and have experience adapting to obstacles.
This is the best way to ensure you get the most money possible for your home.
