Choosing a Real Estate Agent? Read This First!

Filed under: Loans/Finance General @ September 30th, 2009

Choosing a Real Estate agent to help you sell your home involves a bit more than just calling a Realtor and signing a contract with them. There are many factors and aspects about selling a home, the amount of time on the job is only one and should not necessarily be the deciding factor.

Bear in mind that some listing agents will place your listing on the MLS and then just wait for the phone to ring from the agent who has a possible buyer and not do anything else but that.

How many properties has you agent sold? Was he/she the sellers agent, or the buyers agent? How many properties were sold at, or near, the asking price when agent acted as sellers agent? That is an important question. Some agents will prompt you to reduce the price substantially when negotiating with the buyer. That can mean you lose a lot of money, but it is a quick sale and fast commissions for the agent.

Not everyone is good at negotiating or asking for things.In a transaction involving a large sum of money such as your house, would you not have an agent that have the skill and know how to negotiate the best deal for you?

Besides listing your property on the MLS, what are other marketing plans? Advertisements? Open houses? What?

The availability of your agent is yet another important consideration. Will he/she be available during evenings and weekends? How long before they respond to a call from you or a potential buyer? When negotiations are underway and there are time limits in the contract, having an unresponsive agent can sink your deal.

What is the personality of this potential agent? Is she optimistic, upbeat, solution oriented? Or is she pessimistic about your property, about the market in general, unmotivated to have open houses or to otherwise show initiative?

An agent should be chosen with care. All contracts have a time limit, and you could be forced to stay with an agent for months. Make sure it is an agent you like, trust and find competent.

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