For most of us, our home is the single most valuable asset that we will ever have. When it comes time to sell, YOU are the only one who is going to lose if you leave the process to anyone but a true professional. The following are four valuable questions you can ask a real estate agent before agreeing to list your home:
1) What percentage of list to sale price ratio are they negotiating for their sellers? The response to this question is two-fold, first it gives you an idea at how well the agent is doing pricing homes for sale, and second, most importantly, it will give you an indication of how they will go to battle for you when it becomes time to negotiate – Every dollar counts and you want a fighter in your corner!
2) How many days are their listings taking to sell vs. how many days are other listings in the area taking? The two factors most likely to sell a home are price and exposure, this figure will be a great indicator at how the agent is doing with both.
3) How many homes did they sell in the previous year? You’ve heard of the “80/20 rule” and it’s no different in real estate, generally speaking, top performing agents are selling three or more times as many houses as the others in their marketplace. You don’t want an average lawyer, doctor, or dentist…you get the point
4) What percentage of their listings are actively selling? Listing a home is one thing, selling a home is completely different. If the agent at the table has a proven track record of success, or the alternative, then things are likely to stay fairly consistent with respect to your home!
Most successful real estate agents approach real estate as a business owner and part of that is “knowing their numbers”, and can more than likely present their own answers to these four questions with relative ease. If you feel uncertain, ask the agent to produce proof of their results.
