There are over 1500 agents, 100 companies, and scores of marketing
plans and concepts for you to use in selling your house. Only
Jon Modene offers the most market share, the most experience,
the most advanced marketing, a Mobile Office Vehicle, a free
Client Moving Van, leading-edge internet tools, and more marketing
effort for your house than any other agent in town. Call me today!
What Questions Should You Ask? Should You Use An Agent? Which
One? Why? How Do I Choose An Agent?
First off, you don’t want to make a mistake. I have see
too many homeowners make this decision based on the idea that
all real estate agents are basically the same. They sign with
the first agent to come along, only to realize too late that
they should have shopped around.
Start by asking your friends and family for the names of agents
they know. Look around your neighborhood for the signs, ads
and marketing materials of active agents in the neighborhood.
Once
you’ve compiled a list of several names, use this guide
to help you determine which agent is best for you.
Here are the questions you should ask each and every agent:
“Could you send me some information
about yourself?”
 You can often get a good idea of which agents are most professional
and most committed to marketing homes simply by looking at their
personal marketing materials-brochures, direct mail, listing
presentation book, websites, etc.
Call each name on your list and ask them to send out any information
they can before you actually meet with them for a listing presentation.
When you get the personal brochure or other materials, look them
over and determine your initial impression of this person.
Are the materials they presented professional? If not, you might
ask yourself:
“If they don’t
have the wherewithal to properly market themselves, how will
they market
my home?”
Also, keep track of how quickly and efficiently they respond
to your request for information. Are they friendly and helpful?
Or just pushy and hungry for a listing? Does this seem like
someone you’d be interested in talking
with? If they aren’t organized and professional enough
to respond promptly to your first request to find out more about
them, they’ll probably handle potential buyers for your
home the same way.
If you like the way they respond to you and are impressed with
the information they supply, call them and invite them to make
a listing presentation to you. It’s always a good practice
to meet with more than one potential agent before making a final
decision-usually three to five for sellers. Just make sure that
you don’t meet with more than one from
the same company. This could cause internal strife which would
be counterproductive in marketing your home.
“How do you approach your work?”
What you should be looking for, first and foremost, is an honest
and knowledgeable individual, who works full-time, represents
a solid and reputable real estate agency, and will treat your
best interests as paramount. Length of time in the business,
track record of success, previous experience, expertise in and
knowledge of the local real estate market-all of these are factors
to consider.
While the right agent to market your home may not be number one
in every aspect, you want to make sure that the person you hire
is a well-rounded individual whom you can trust and respect as
a professional.
“How many homes have you listed
in Perrysburg the past six months?”
Let’s be blunt: if you hire an agent who doesn't work in
Perrysburg you will not get top dollar for your home. They don’t
know the area and cannot justify to a buyer why prices are
what they are here. They most likely do not have a list at
hand of
buyers looking to come to Perrysburg. And they will not have
the synergy of having other signs and ads and marketing in
the Perrysburg market to get buyers into your home.
“How many homes have you sold
in Perrysburg in the last six months?”
Beware of agents who simply gather listings and let them sit
and wait for someone else to sell them! These agents, agents
who will never show your home and never work with buyers, play
a
numbers game. They know if they throw up enough signs that they
will sell some homes. But they never get an owner top dollar.
“What is the average length of
time your listings are on the market?”
 You may automatically assume the shorter time on the market,
the better. But take note: If an average length of time on the
market is significantly faster than the average for homes in
the area, is it because this agent is more effective or because
he
or she likes to low-ball the asking price in order to get homes
sold more quickly?
Also, take a look at what the original asking prices are for
homes the agent lists versus what the homes finally sell for.
This “swing” number will
tell you how effective the agent is at helping clients determine
the right asking price and doing what it takes to help them
get it.
“How long have you been in the
business?”
Depending on the agent’s background and track record,
there is no hard and fast rule for what to look for here. An
agent
may have been a licensed real estate professional for 15 years,
but
only selling part-time, and never really an active agent-maybe
only handling one or two transactions per year.
Whereas another agent may have only just become licensed one
or two years ago, but has a background in real estate finance,
worked in real estate law for a number of years or has been a
private real estate investor and has bought and sold more than
20 homes himself in the last 10 years.
Either way, you need to find someone who has an in-depth knowledge
of the legal ins and outs of the business as well as the characteristics
of the local market, and has demonstrated competence and professionalism
in getting homes sold.
“What professional organizations
do you belong to?”
The minimum here should be a fully licensed professional who’s
a member of the local real estate board and multiple listing
service as well as the state and National Association of Realtors.
Local community groups and business associations may also be
pluses
in terms of networking and insight into the community. However,
make sure your agent is focused on what’s important-selling
your home.
 “Do you have a personal assistant
or other support staff working for you?”
Real estate is a tough job with an enormous amount of paperwork
and if an agent has no support team to help them— it
is doubtful they can fully and fairly market homes while doing
all
of the detail work and paper work and field work that it takes
to stay in the residential marketing business today. By employing
someone to handle the small details, he or she can devote more
time to serving your needs.
However, be sure you know up front how much involvement you
can expect directly from your agent, and how much is usually
handled
by someone else. It may be fine that most of your interaction
after the listing is with an assistant or other staff member
as long as you don’t feel passed off onto someone else
and you are kept informed of exactly what the agent is doing
to get
your home sold.
“Do you have any questions for
me?”
In the interview, look for an agent who asks pointed, specific
questions, not someone who’s just filling in blanks on
a form. That’s the sign of someone who is already thinking
about your situation and is creating a plan of action specifically
for you rather than just using a cookie-cutter approach for
every client. Make sure you feel comfortable being around this
person
- you will be relying on his or her expertise.
“What marketing approach will
you use for my home?”
Despite having the same basic marketing tools at their disposal-Multiple
Listing Service, internet marketing, fliers and brochures, for
sale signs, MLS lock boxes, public open houses, advertising,
direct mail and personal networking-every real estate professional
has a different marketing strategy.
Learn each agent’s marketing philosophy, and determine
what will work for you. Make sure the agent you choose doesn’t
rely on the same marketing tool for every sale. What worked for
yesterday’s seller may not get the results you
want. The key is to find an agent who will use all the tools
available to your best advantage.
“Will you produce a flier or
brochure for my home and what will it look like?”
Take a careful look at the materials the agent has produced
to market their current listings. Do the quality, design and
wording
of the materials seem to present each home in the best light?
Put yourself in a potential buyer’s shoes: Would you
be interested in the homes after seeing these materials? Also
ask
them HOW they will get it into the hands of potential buyers.
 “How Hard of A Negotiator Are
You?”
Simply putting a sign on your lawn and holding an open house
every Sunday afternoon will not get your home sold. There will
be some negotiating to do. Will your agent be loyal to you?
(This is called “Single
Agency”) Or will he or she be able to turn the tables on
you and become a Dual Agent with some loyalty to the buyers as
well (This is called “Split Agency”).
Your agent should
be loyal to you and your family throughout the transaction.
And your agent MUST have a track record of negotiating success.
Or
else you will likely lose a lot of money.
“What is your advertising plan
for my home?”
Ask the agent how often he or she will run ads in the Perrysburg
Messenger Journal and ask to see samples of what the ads will
look like. Again, put yourself in the buyer’s shoes.
Would these ads appeal to you? And how does advertising fit
into the
agent’s overall
marketing mix? Does the agent do any direct mail in Perrysburg.
How about special emphasis on web sites?
Agents on the cutting edge often use a variety of creative advertising
methods apart from the traditional house advertisements. Many
of them now use toll-free hotlines and virtual tours on-line
that give potential buyers 24-hour access to information about
your home.
“How else will the property be
exposed to other agents?”
Exposure is the key to any home sale. In many cases your home
will be sold because another agent knows a buyer who is looking
for a home like yours. Beyond simply listing your home in the
MLS, your agent should be using a wide variety of techniques
to let those other agents know about your home and keep them
aware
of it until it is sold.
 “Are you going to help me in
staging my home?”
Preparing a property for sale, or “staging” it,
is very important in maximizing the value and minimizing the
time
on the market. If a prospective agent does not mention this
aspect of the sale on his own during the listing presentation,
he probably
has no plan to offer this service to you. Or he may be afraid
of bringing it up for fear of offending you by telling you
about negative aspects of your home that should be changed-or
positives
that need to be highlighted-to increase its appeal to potential
buyers.
A confident and competent agent will find ways of broaching the
subject and let you know of specific ideas-beyond baking bread
and putting out fresh flowers for open houses-to make your home
more salable.
“What will you do to keep me
informed?”
Do you want weekly, daily or hourly reports from your agent?
Are you comfortable with letters, phone calls, or do you want
to discuss matters in person? Determine how much communication
you want, then find an agent who will give you the attention
and time you deserve.
“What listing price do you recommend
for my home and what is that price based on?”
Pricing your home is the most critical step to selling it,
and you should choose a Realtor who has the knowledge to price
your
home wisely. Here are some things to keep in mind:
- Don’t go with a “yes man” who will promise
a high price in order to get your listing-your home may
languish on the market.
- Don’t let an agent talk you
into an artificially low price designed simply to sell
as fast as possible.
- Do have each agent justify the price through
comparable properties and facts about the market. The selling
price should attract prospective buyers to
your home, get you top dollar in the current market and
reflect the condition of your house.
- Be realistic. A good Realtor will be honest
with you about the value of your home and have the cold,
hard facts to justify that value-both to you and to prospective
buyers.
“Can you provide me with further
resources that I may need?”
Most agents work with a team of professionals in many fields,
including title, escrow, mortgage, home inspection,
pest control, carpet cleaning, etc. While you are not obligated to work with
an agent’s
team, often you may find it is the optimum way to go.
The best agents have built strong relationships with their “teams,” and
can often get expedient service or be able to “cash
in a favor” for
your transaction should a crunch or problem arise.
“Can you give me some references
from other clients you have worked with?”
 Don’t be afraid to ask for references. This is not confidential
information, even though many sellers would never think to ask
for it. Real estate transactions are a matter of public record,
and if you want to take the time to go down to the courthouse,
you could compile your own list. However, any agent who provides
good service and is proud of his or her work will be happy to
provide references.
If possible, contact a few of these references directly. Check
to see how well the situations described by these previous clients
fit your situation, particularly if you have a complex transaction
or special circumstance that requires specific expertise.
“What does the listing agreement
entail?”
Have the agent go over every detail of the listing agreement
with you before you ever sign it. This is a legally binding document
and your agent should be open and up front with you about exactly
what you’re signing. Ask to know exactly what each portion
means and be aware of what the contract will legally obligate
you and the agent to do.
“What are the beginning and expiration
dates of the listing agreement?”
This information should be included on the agreement itself and,
should a dispute arise later, could be crucial in determining
commission payments. Beware of agents who want you to agree to
a very long listing period. Unless they can provide compelling
reasons why your sale should take longer, generally three months
is a good amount of time for a listing agreement. I would recommend
that an agent give you some sort of guarantee as to their performace
during the listing period as well.
Also remember that the listing agreement is designed to protect
not just you but the agent as well. Good agents work hard for
their commissions and deserve just as much open communication
and straightforward dealings as you do.
“What other fees or charges do
I need to be aware of?”
Title insurance, escrow charges, closing costs and prorated insurance,
taxes, rent, home owner’s association dues, etc.- the individual
circumstances of your transaction and the needs of your buyer
will all impact your final financial obligation. Be sure your
agent goes over all the costs that may be incurred so that you’ll
be prepared.
“What disclosure laws apply to
me and what do I need to provide?”
You and your agent will both need to provide specific disclosure
forms regarding your transaction and your property to every buyer
who looks at your home. The Ohio Property Disclosure Statement
is a special form that you need to provide to the buyer of your
home. If you don't provide it to them before you accept their
offer, you could be giving them the right to walk away from the
purchase of your home right up until the moment of closing. Your
agent should be able to help you locate professional inspectors
for the various mandatory home inspections.
Most agents will help you organize a home marketing file-including
a property fact sheet, a property transfer disclosure statement,
pest control report, a structural or engineering report, a property
profile from the title company, applicable plans for alterations
or additions, any home warranty plan offered and applicable special
equipment report for pools, spas, sprinkler and alarm systems,
etc.
“What is a home protection plan
and should I consider purchasing one to facilitate my sale?”
There are many ways to enhance the salability of your home and
sweeten the deal for prospective buyers. You may not need them,
but you should know what they are and how they may or may not
benefit you.
 “How will you determine the qualification
of potential buyers?”
Ask what procedures the agent will use to make sure that you
don’t waste any time dealing with dead-end offers or escrows
that can’t be closed.
“What happens if my home doesn’t
sell in the allotted time or if I decide not to sell my home?”
Much of the answer to this question should be spelled out in
the listing agreement. Make sure your agent goes over every part
of it with you. Be sure to find out whether your contract contains
a clause that allows the agent to collect a fee or commission
if a closing does not occur. One former (now bankrupt) broker
in Perrysburg and Toledo once charged a full commission for any
house that an owner either simply took off the market or received
a full price offer on. Incredible! Also find out if the agent
will allow you to take your house off the market before the expiration
date of the listing contract.
“What’s the best way for me to get in touch with
you?”
In this age of expanding technology and instant communication,
most agents have pagers, voice mail and voice messaging services.
You should know exactly how to get through to your agent, his
or
her assistant, or a messaging service in case of an emergency
24 hours a day.
Your agent should not only provide you with prompt responses
to your calls, but also should have a step-by-step plan regarding
how he or she will keep you informed about the status of your
home sale, including daily, weekly or monthly written reports
on the actions that have been taken to sell your home and the
resulting response from prospective buyers and other agents.
 “How would you like for me to give
you feedback?”
As important as it is for your agent to keep you up to date,
you should give regular feedback to your agent as to how satisfied
you are with his or her service. The best agent is one who makes
it easy for you to communicate your satisfaction as well as the
things you would like to see changed about the way he or she
is handling
your transaction.
The most up to date and professional agents today use an email
feedback system and let their clients have full access to the
showing details and feedback comments. Perhaps all you need is
an explanation of why things are going the way they are or why
your agent is handling things a certain way, but the more you
can get all of these feelings out in the open, the better the
two
of you can communicate and work to change things if need be.
An organized professional will provide you with service questionnaires
both at the beginning of the relationship so you can outline
your expectations and at the end of the transaction so you can
let
him or her know how well those expectations were met, as well
as regularly during the course of the sale so you can deal with
any positives or negatives that occur along the way.
NOTE: One of the most important
questions in today’s
market is saved for last. Do not pass it by. Do not fail to fully
comprehend
it. Do not fail to ask ANY agent you hire. It is that important.
"What are you going to pay the other
Realtor who brings the buyer to my home?”
Please, please, please! Ask this question. The “GREAT DEAL” that
a dishonest discounter gives is usually just camouflage for a
discounted “co-broke” fee.
The co-broke fee is what is offered through the MLS to every
other Toledo Board of Realtors member—it’s
an incentive of commission paid to the agent who brings the buyer.
Offer those agents LESS than 3% and watch your showings and final
price fall.
Now the only question you have to ask yourself is:
What are you waiting for? Let’s get it SOLD!
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Last Updated: 3/22/05
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