Most Realtors have some list of questions that purport to help sellers interview and select the correct agent. It’s funny how the list of questions is usually tailored so that the only obvious agent is the one who gave you the list. Selecting a Realtor is simple, folks. Here’s how to do it: Call all of the local real estate offices. Talk to the Broker/owner only. Find out who are the most productive agents in the office. There may be one; there may be six. Make a list of all of these agents. Find out which agents have the most listings in your area. Discard them; if all they do is list homes, they won’t care much whether or not one specific home sells. This method of real estate practice is just like throwing mashed potatos against the wall to see which handful will stick. You don’t want to be the cold pile of potatos on the floor. Next, ask all of your acquaintances if they know of any agent to avoid. If they come up with a name on your list, drop that person. Then ask your friends who they would use. If a name comes up twice or more, put that person on your final list. Hopefully, by this time, your list will be fairly short. Three to five agents at most is what we’re shooting for. If you still have too many, call the brokers again and ask how many transactions per year each of the agents on the list actually do. Choose the ones who do the most. Now you probably have the list down to 3 to 5 agents. Set up an interview with them at their office. Look at their office. Is it shabby or luxurious, successful looking or poor? It’s a good indicator of the agents inside. When you actually meet with the agents, here’s what to ask them: 1. What will you do for me to sell my house? The answers should include: counsel you on preparing it for market, price it accurately, market it aggressively, advise you how best to negotiate offers, make sure all of the problems are handled and that the sale closes. (See the FSBO pages on this site for a list of possible problems.) 2. How much do you charge? Note that the cheapest is definitely not always the best. Do you want to pay less than average and get way less than average service? We didn’t think so. Most agents only operate on about a 17% profit margin so if they cut their rates, then something has to give and it’s going to be service. You mostly should ask this question to eliminate the real discounters and also because they’ll expect you to ask it. 3. Can I get out of the listing agreement if I’m unhappy? And, how hard is it to get out and how expensive? Don’t select an agent who won’t let you out for free any time you want out. This is a solid rule which you should never break. 4. Do you have an assistant? (Hopefully, yes.) Assistants? (If there are too many assistants, will you ever see the actual Realtor again?) Will you be available to speak to me at all times (24/7)? (If not, then dump this one and go on to the next.) By this time you’ve probably made a judgement about who will best suit you. If not, then choose the one you like the best. It is a team effort after all and you won’t want to be stuck with someone whose personality grates on you. 5. Don’t ask about listing price! You might notice that we haven’t said anything about asking the agent what your house is worth. This is probably the number one question on your mind and it is the very, very, very last thing you should ask the Realtor you select. Why? It’s too easy for a poor agent to tell you your home is worth more than it actually is worth, just to get the listing. It happens all of the time. If you pick the right agent, they will be realistic about the price. They will price it correctly and they will provide much better service than one who resorts to inflating prices to get listings. 6. Finally, use your intuition. Is the agent cold or fake in any way? Most agents specialize in being warm and friendly, but you can probably tell if an agent doesn’t fit with you. If they don’t fit, then go to someone else. Well, this is the best advice we can give. Just remember that selecting a Realtor is just like selecting a business partner, or a friend, or a spouse. Sometimes you really get a good one and sometimes you don’t. It’s a matter of experience and after you’ve sold your hundredth house or so, you’ll probably get pretty good at it. Meanwhile, if you’re in our market, at least interview us. We might not be right for you, but, then again, we might. Thanks for your attention! Sally & Eric Martell |
