I think every home owner knows that the easy sell days are behind us. But there are still home owners who need to sell. What can a home seller do to ensure a good price received for a successful and stress free sale?

The first step is finding the right Realtor (R) (today’s topic) and the second step is presenting your home at its best for buyers (tomorrow’s topic).

Now I could site statistics demonstrating that people who use a Realtor to sell their home get  more money and in a shorter sale period but I am going to assume that that would be preaching to the choir.

Instead I will say this - read this article and if you find that it would be a good use of your time and money to sell your home yourself then give it a go. But if you find it isn’t working for you then give me a call! 

Defining Your Expectations

Before you make the first call it is so important that you set your expectations and priorities. Ask yourself these questions:

  1. What is most important - a higher price or a quicker sale?
  2. Why am I hiring a Realtor (what am I looking forward to in working with a Realtor)?
  3. What concerns me about working with a Realtor?
  4. What benefits do I expect from hiring a Realtor?
  5. What points/qualities are non-negotiable in a Realtor and in the sale of my home?
  6. My ideal agent would contact me how?
  7. My ideal agent would contact me how often? 

Once you have a firm grip on the things that are important you will be better suited to making a decision based on objectives rather than circumstances. What’s more you will be in the driver’s seat during the interviews.

The Interview

There are many qualified agents in the market who could do a great job selling your home. So how do you choose the best option for you? Seek out the differences among agents. Find out the style they use to communicate with their clients. Are they present at every showing of your home? Do they work with other agents so there are fewer time conflicts? How does their service set them apart from other agents? What do they feel is critical in selling a house. What success stories can they share with you?

The Marketing Question

While the relationship that you have with your Realtor must be a positive one, you will need more than a friendly agent to sell your property. Make sure that the agent you choose can clearly and logically present a plan to set your house apart from the competition.

Real estate is a numbers game so the higher the number of people who get exposed to your house the more successful you are likely to be. To that end, your agent should have a plan to create waves of promotion and marketing.

Ask each Realtor how s/he plans to market the property over the first five weeks (the maximum impact visibility for your home) and after that time so the listing does not fade away.

The Commission Question

There are two basic formats for agents to take with regard to commission. First, and often the most attractive to you, is the discount broker. The commission they seek can be as low as 2%. Second is the moderate broker who may seek a commission of 5% or 6%. The commission question is an important one because it impacts your bottom line. In today’s market it affects the bottom line in several ways.

While you may pay less to a discount broker who sells your house you may not sell your home for as high a price. It is difficult if not impossible to implement a comprehensive marketing plan for a discounted commission.

The principle at play is “Demand Drives Price”. So the more consumers who see your home and are aware of its place in the market, the higher the demand among homebuyers and the higher the demand, the higher the price.

Another point of interest to you in choosing a Realtor is the amount of the commission that your agent will share with the buyer’s agent. Will they split the commission 50-50? The split is listed on the MLS standard listing form for you to review.

My caveat is this - discount brokers may tell you that they will do everything a moderate broker does AND there are moderate brokers who may not have aggressive marketing plans for your sale. Make sure that you know EXACTLY what you are getting when you choose a Realtor. Ask for a marketing plan with specific commitments in it. That way you really will get what you pay for.

The Last Word

No matter who you choose as your listing agent, ask for a Satisfaction Guarantee. Your Realtor does not want to be part of an unsatisfactory transaction any more than you do. By asking for a Satisfaction Guarantee in writing (see example below) you will feel better entering into a commitment and your Realtor will get better communication from you!

Satisfaction Guarantee Example

Note: This is not meant to be a legal clause. For specific legal verbage please contact an attorney.

All parties to this contract agree to the following: If at any point during this contract the seller is dissatisfied with the service s/he is being provided, s/he will notify the agent of the issue. If the agent can not rectify the situation within 48 hours, the agent agrees to render the contract null and void.