Selling a House with a Real Estate Agent
Most home sellers take on the daunting task of selling a house with a real estate agent. Rather than attempting to sell their property on their own by a trial and error method, they decide that it is more appropriate to entrust the sale of their home to a professional. Many home sellers also choose to use a real estate agent since real estate transactions usually incorporate legal and financial attributes that are well beyond more simple transactions.
Other advantages home sellers who work with a real estate agent have include:
1. Access to the Multiple Listing Service (MLS) - a service that combines the listings for all available homes in an area, except For-Sale-By-Owner (FSBO) properties, in one directory or database. This service allows large numbers of buyers to have access to the seller's property.
2. The real estate agent absorbing all of the cost of marketing and advertising.
3. The screening of potential buyers by real estate agent.
4. The majority of the details of negotiation being handled by the real estate agent.
Being honest with yourself about the level of your own capabilities will help you decide whether or not you should use a real estate agent. If you feel fully confident that you will be able to handle all of the details involved in a real estate transaction, then you may want to try and sell your home on your own. If you don't, then you should definitely use a real estate agent and leave the details to them.
With over 2.5 million licensed real estate agents nationwide how do you choose a good real estate agent? In order to assess a potential real estate agent's capabilities and philosophies, be sure to ask the following questions:
Questions to Ask a Prospective Real Estate Agent
Are you a Realtor?
Do you have an active real estate license in good standing in the state where I want to sell my house?
Are you a full time real estate agent?
How long have you been in the real estate profession?
Do you hold any professional real estate designations?
Do you belong to the MLS (Multiple Listing Service) and/or a reliable online home buyer's search service in the area where I am selling my home?
How familiar are you with the area where my home is located?
How many homes have you personally sold in this area in the past year?
Can you supply me with the names and addresses of three recent clients for whom you sold a home so that I can contact them for reference purposes?
Will you be on vacation or otherwise unavailable during the timeframe when I want to sell my home?
How did you come up with the suggested listing price for my home?
What is your specific marketing plan for my home?
How do you plan on keeping me informed of the progress of the sale of my house?
What to Look for in a Real Estate Agent
A full time agent who is committed to the profession.
Professionalism.
An agent who is communicative and responsive to your inquiries and listens to your needs.
A seller's agent (see seller's agent vs. buyer's agent).
A familiarity with the area in which your house is located.
A familiarity with the price range in which your property will be listed.
Evidence of marketing and advertising ability.
References from previous sellers.
Where to Find a Real Estate Agent
Start by asking family, friends, and co-workers about real estate agents they have used for selling a home (not buying). Try to get both positive and negative input from them. Also be sure to check your local newspapers and homes magazines. A real estate agent who has a number of advertisements likely has experience, as well as a fairly extensive marketing budget. However, make sure that the agent does not have so many listings that he/she will be unable to service the sale of your home effectively. Finally, don't forget to check the Internet. Most real estate agents have their own Web pages.
While a lot of home buyers select their real estate agent on the basis of a personal recommendation or because of advertisements, these and other approaches should only be the starting point in your selection of a real estate agent. To conduct a thorough search, you will want to make a list of the real estate agents who have been recommended to you, who you have found through advertisements, and who you have found through Web sites or other means. You then need to interview each of them, preferably in person, if possible, to find out more about their qualifications and if they are right for your situation. In order to find a real estate agent who is best qualified to meet your individual needs be sure that you ask the agent plenty of questions (see above).
Selling a house with a real estate agent has its advantages. With over 2.5 million licensed real estate agents nationwide finding a good real estate agent may take some effort, but when you find the right one to handle all of the details involved in your real estate transaction you'll definitely be glad you did your homework.
____________________________________________________________________
