Interviewing Real Estate Agents
Before interviewing real estate agents you need to perform a little research on homes in your community. Find out what what similar homes in your neighborhood are selling for and how long it they are on the market. It's important that you have an understanding of your local market so you know if the real estate agent does as well.
This is a job interview for the real estate agent, and they will be in charge of selling your most expensive asset, so be critical. They should arrive early, be prepared, professional, and "WOW" you. If they don't, they are probably not the best person to sell your home. Like any job interview, you should have questions prepared for the candidates. Here are some questions you should ask every candidate (most of them should be covered in their presentation, but just in case):
- What price do they think you can sell your home? How fast can you sell you home? And most importantly, WHY do they think that price? If they don't have statistics to back up their opinion be cautious.
- How many homes have you sold? How many have you sold in my community?
- What is your marketing plan for my home? If they don't have a well designed and thought out plan, they probably don't have a plan.
- What are your stats? Days on Market? Original List Price versus Sold Price? Some agents will "sell" you that your home can sell at a higher price to "win" the job, but if it takes them longer to sell their listings and their Original Price vs List price is low, you know they are just "selling" you a line.
- How and when do they communicate with their clients?
- What other listing services do they provide?
Once you have interviewed all of the agents, it's time to make a decision. Make sure you evaluate all aspects and don't be fooled by a high sales price if they don't have numbers and plan to back it up. It's important that you trust and respect your real estate agent.Next Step: Marketing Plan