Mortgage Daily

Published On: December 23, 2022

Whether it’s your first time selling or you’ve done it before, selling a property can be a difficult and stressful process. According to the Zillow Group Consumer Housing Trends Report, it’s little wonder that 83% of sellers opt to list with a real estate agent.

Popular services that sellers report were extremely or very beneficial from their agents include the capacity to discover potential buyers (85%), the ability to guide sellers through the selling process (80%), and the ability to handle contract negotiations (80%).

While most sellers believe that using a real estate agent is advantageous, almost one-fifth (18%) think it is difficult or extremely difficult to locate the correct real estate agent. Read on for advice on selecting the ideal real estate agent for you.

Online Comparison of Real Estate Agents

One of the most effective methods to locate agents is to use Zillow’s Agent Finder to search for vetted agents in your region and compare their reviews and the number of houses sold. After you’ve narrowed down your top selections, you may also utilize other web search tools to examine an agent’s online presence. Consider how a representative responds to probable unfavorable or neutral reviews.

Get a Recommendation

Nothing is more valuable than a personal recommendation from a trusted friend or family member. More than one in five sellers (22%) locate their agent through a reference from a friend, family, neighbor, or coworker, according to data conducted by Zillow.

Research Your Local Housing Market in Person

If you have more time, drive or stroll about your area and seek repeat agent names on real estate signs (extra points if they’re accompanied by “sold” signs!). According to our study, just 5% of sellers locate an agent using a for-sale sign, while 16% employ an agent based on a personal connection.

Or, visit a local open house and see how the realtor interacts with prospective buyers. Take the time to communicate with the real estate agent; do not simply collect a business card and go. Keep personality and professional synergy in mind. 7% of sellers discover their agents at an open house.

Consult With a Minimum of Three Agents

Refrain from settling for the first real estate agent you encounter when hiring one. 56% of sellers only contact one agent, according to Zillow data, but by speaking with many agents, you will be able to compare and contrast to discover a suitable fit. Because it is an interview, treat it as such. While you may have a favorite based on a referral or local reputation, you should ask the identical questions of all three agents and compare their replies.

Ask the Right Questions

Obtain a feel of their company approach by asking pertinent screening questions.

  • How long have you worked in the real estate industry?
  • Do you work predominantly with buyers or sellers?
  • How many customers are now active?
  • Are you a member of a group?
  • What is your expertise?
  • Can you manage my particular situation?
  • How will my home be marketed?
  • Can you provide me with any references?

Discuss Your Communication Preferences

Ensure that you are on the same page from the beginning. Determine how the agent will keep you updated and how frequently you may anticipate hearing from them. You may not be a good match if you prefer online communication, but the agent prefers phone conversations. Or, if you expect many questions and want prompt replies, but the agent only gives bi-weekly updates, you may wish to locate a better-suited agent.

Specify Your Selling Motive

Ensure that you’ve clarified any unique needs for selling your house. Do you have a strict deadline? Need to attain a certain minimum monetary amount? Want to avoid capital gains taxes by falling inside a specific timing window? Ensure that these facts are communicated immediately, so your agent understands what to anticipate.

Discuss the Marketing Approach and Number of Showings

Ensure that you and your prospective real estate agent share the same understanding of their selling strategy. Do you do open houses? How many performances do you intend to stage? How much notice will the agent provide before a showing? How will the home be advertised?

Come to an Agreement on the Important Details

The most successful agent-seller partnerships have well-established expectations. Ensure that you have agreed in writing to the commission structure, list price, and contract term (i.e., what will happen if your house has yet to sell after a specific period).

Non-traditional Marketing Techniques

If you opt not to engage with a real estate agent, try selling your home yourself (FSBO). 11% of sellers, according to the 2019 Zillow Group Consumer Housing Trends Report, choose to sell FBSO. However, remember that it is a full-time profession that requires much effort.

 

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