Finding and Selecting an Agent

Choosing the right real estate agent when selling your property can make the difference between a quick sale at a good price, or sale that drags on and on with no action from buyers. Frankly, there are Realtors who are not worth their salt and others who are great. Even among those with lots of experience and skill they will not all be a good fit for your property. Choose carefully before committing to an agent.

Where to Find the Right Real Estate Agents

There will be no shortage of available agents in your area. Realtors spend a lot of money on advertising in newspapers, radio, and television. Check your local newspapers, most have a weekly section with real estate listings and realtor advertising. Keep your eyes and ears open for advertisements on the radio and TV.

Some agents have begun to capitalize on the internet and have websites. Those agents who understand how to market online will be easily found through search engines. Do a search for "Your City Real Estate Agent" or "Your City Realtor".

Also be sure to ask friends and family members if they know of a realtor they would recommend.

Choosing the Right Realtor

The above sources will likely provide you with a number of agents to choose from. Now you must select the Realtor the best suits your needs and the specific property you are selling.

Many real estate agents specialize in a specific sector of the market. There are those agents who tend to deal with high end luxury homes, or others who specialize in condos, while others stick to middle income family type properties. And many will often stick to only a few local communities in your city.

While searching for realtors pay attention to their advertising and you will begin to get a feel for who may be best suited for the type of property you are selling, its price range, and area of town. This should narrow the list down to those agents that may best represent your interest. Interview each of them to make your final decision.

Questions to Ask Before Choosing a Realtor

Once you've Narrowed down your list of realtors to a few that may offer what you need you should interview each one of them. Think of it as a job interview. You are hiring the agent to work for you. Choose the agent that best satisfies your needs and answers these questions to your satisfaction.

1. How long has the Realtor been in business?

With this question alone you will not be simply choosing the one who has been in business the longest. You merely want to get a sense that they have some level of experience.

2. How will the real estate agency market your property?

They should be using a wide range of marketing methods. They should be placing your property on the MLS (multiple listing service) immediately upon becoming your agent. Ask what forms of local advertising they will be using, specific to your property. And determine if they will be using the internet effectively. Today over 70% of buyers are searching on the internet. Agents who still refuse to use this medium are missing out on where the real estate market has headed in the past few years.

3. What is their closing ratio? And what is the average time it takes them to sell a clients property

What percentage of their listings sell within 30, 60 and 90 days and how many listings expire without selling before the listing contract expires. This should give you an idea of how effective they are at selling.

4. What are the agents commissions? And, is the agent flexible with their commission.

A real estate agents commission structure should fall within the average. If its high you should ask why. Don't always choose the lowest commission, you may get what you pay for. Ask if they are willing to be flexible in their commission, if need be, to enable a sale. If a potential buyer just can't seem to come up to a more reasonable sale price (already down from your ask) , but is not far off, will the Realtor drop his commission by 0.5% or 1% in order to close the deal.

5. Will the agent make you sign an exclusive listing contract?

An exclusive arrangement means that only that agents office is permitted to show and sell your property. They will not permit the commission to be shared with another agent that may have a buyer. This gives the property far less exposure and could mean it takes much longer to sell. Say NO to an exclusive deal. It's not in your best interest.

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