Mortgage Daily

Published On: December 23, 2022

Remember the anxiety you experienced when purchasing your first home? If you’re preparing to sell your house, ready to experience them again. Hiring a listing agent is one of the finest ways to keep your sale on schedule and alleviate the burden on your shoulders.

A listing agent represents the seller’s best interests. A competent listing agent will advise you on pricing, suggest activities be taken to prepare the home for sale, handle marketing, organize open houses and showings, current offers from purchasers, and negotiate on your behalf to obtain the best possible price and terms.

With so many listing agents available, it might take a lot of work to know where to begin. Follow these procedures to select an appropriate professional.

Referrals 

Inquire with friends and coworkers whether they have dealt with a real estate agent they would suggest, particularly those who have sold a property within the past few years. Determine what it was like working with their agent and whether they were happy with the outcomes.

Review Their Experience

Verify that prospective listing agents are licensed by searching for their names in the licensing database for real estate in your state. Read the agents’ biographies on their websites. Examine their current and past listings to determine if they are familiar with your community and have sold comparable houses.

Interview Numerous Agents

Talk to at least three listing agents to determine their suitability.

Ask Listing Brokers the Following

When interviewing prospective listing agents, it is essential to have a list of questions prepared. You want to determine whether a real estate agent is skilled and experienced to promote your house and sell it quickly and for the most feasible price. Prepare for the agents to visit your home, and ask each:

  1. What are similar listings available in my neighborhood? Comparables (often known as “comps” in the business) are the foundation for calculating your home’s worth and establishing an asking price. Comprehensive comparative market research will include current listings and homes sold within the last three to six months comparable in size and features to yours.
  2. What do you believe the value of my home is and why? Before or during a listing presentation, most agents will request a tour of your house so they can take notes and assess what they have to work with. It also aids them in analyzing the comps to present you with an asking price per market circumstances and your objectives. You may have a certain asking price in mind, but your agent may need to concur.
  3. What would be included in your marketing strategy for my home? A smart real estate agent will have a comprehensive plan to advertise your listing to attract the appropriate buyer pool. A marketing campaign may include “Just Listed” postcards, open houses, 3D virtual tours, professional photography, and broker visits for buyers’ agents (especially for luxury homes).
  4. What prior experience do you possess? Ask prospective listing agents how long they have been selling real estate and how many homes they have sold in the past several months. It is concerning if someone has not concluded a contract in several months.
  5. What is your rate of commission? The average real estate commission is around 6%; sometimes, the selling agent and buyer’s agent divide this sum. Some agents may be amenable to negotiating their commission, but you should not rely on it. You are paying for a professional service, after all. Leave the commission question for last, but make sure you understand how much you’ll be paid for an agent’s services and what is included.

Look Into References

Request client references from listing agents and speak with them about their experiences dealing with the agent. What did the agent perform particularly well? What occurred, and how did the agent respond? Was there anything the customer felt the agent could have done differently?

Hire an Agent

After finding a listing agent you like to engage, you will usually sign a listing agreement in which you agree to a specific length of service at a predetermined commission rate. In the following weeks or months, keep the lines of communication open while you work together. Inform the agent of your expectations and inquire about your confusion or concerns. Immediately addressing minor concerns will prevent misunderstandings in the future.

 

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