Before hiring a real estate agent to sell your home, you need to determine if he is qualified to sell your home. In the process of evaluating a prospective real estate agent, you should collect information regarding the property types the agent has sold in the past. You can also consider the sales to listing ratio and service level of the real estate agent. The following are seven tips for choosing the right real estate agent to sell your home.
Questions to ask a real estate agent
One of the most important questions to ask a real estate agent to sell a home is how they set the asking price. This is the key to maximizing the price of your home and selling it quickly. Not only does setting the price make it more appealing to buyers, it also sets the initial tone. A seller that undervalues their home may discourage motivated buyers from making offers, and a seller that overpriced their home could have trouble selling the property. However, real estate agents have the experience and data to justify asking prices.
Listing agreement
When you hire a real estate agent to sell your home, a listing contract is important. It stipulates the time the property will be on the market for, as well as the terms and conditions that will apply to that listing. In most cases, listing agreements will last anywhere from three to six months, though some may last longer than that. Once the listing agreement is signed, the agent will start preparing your home for sale and collecting a commission.
Sales-to-listing ratio
When choosing a real estate agent to sell your property, you should look at their sales-to-listing ratio. This metric represents the difference between the initial listing price and the final sales price. If the ratio is high, it means that the real estate agent’s clients are selling their homes for more than what they listed them for. However, if the ratio is low, it means that buyers and sellers are negotiating less than what was listed for the property.
Service level
Many real estate companies call themselves different things, but you shouldn’t worry about labels; you should focus on price and services. While some states have minimum service levels for real estate agents, others do not. Regardless, there is no reason to compromise on service when choosing the right agent to sell your home. Here are some things to look for:
Integrity
When choosing a real estate agent to sell your house, consider the agent’s integrity. The more valuable your home is, the more money it will earn you. Therefore, you should look for a high-quality real estate agent with high integrity. A good agent will provide you with honest price guidance and be transparent. This is the first opportunity for your agent to show their integrity and earn your trust.
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