The Real Estate Encyclopedia
What Questions Do I Ask An Agent During The Listing Interview?
Category - Home Selling Questions - General Home Selling FAQ's
If you are listing for the first time, you want to review the listing presentation the agent shows you during the interview.  Most of the time, the seller’s main interest and the first page they want to inspect is the one dealing with the asking price and/or the commission.  The agent, on the other hand, needs to focus the interview on sharing information on expertise, advertising, brokerage competitive strengths, comparable market analysis and what the agent can do for the seller to market and sell the home.

 

An excellent listing presentation should include sections on brokerage overview and standing in the market, agent expertise,  current listings and ways the properties are marketed and sold, properties sold in the area, advertising strategies, website address, sample flyers, sample ads, comparable market analysis, seller’s needs analysis, memberships in Realtor® associations and listing services, samples of listing agreements, purchase contracts, disclosure statements, property details, etc.

 

As you proceed through the listing presentation, questions such as “how many years of experience do you have” arise and are answered.  Although extensive experience in the real estate business is extremely helpful in selling a home, the seller should not overlook an agent just starting in the business.  A new agent associated with a well-established brokerage, may offer certain particular advantages.  For example, a new agent will be keen on providing the best service possible and have time to dedicate exclusively to your home.  At the same time, the agent has access to broker support within his/her brokerage offering extensive experience in the business.

 

Other questions you may ask are:

 

Ø       “How should I price my property?” This question is first on the seller’s mind for good reason.  Rather than suggesting a high price just to please the homeowner and secure the business, the professional agent will have conducted or offer to conduct a comparable market analysis to answer this question.  The information considered in such an analysis should include comparable properties in the area which are either active, have sold recently or have expired recently.  Look for additional information on the comparable market analysis on this site.  The pricing of the property is essential to the sale of the home.  Other critical considerations are the condition of the property and how the property will be marketed.

 

Ø       “What commission rate do you charge and are you willing to negotiate?”  The amount of commission charged by the brokerage understandably is very important to the seller because it is paid from the proceeds of the sale.  Although the commission is negotiable, the agent will explain the importance of the commission to buyer agents.  The buyer’s agent’s commission is shown in the home’s description on the Multiple Listing Service (MLS) site.  If the percentage does not compare to other listings in the area, the buyer’s agent may not be as motivated to show that particular home if there exists enough competition in the market.  In addition, the commission paid will influence the amount of time and money the agent is able to spend on your home.  Remember, the agent’s services and expenses are only remunerated when the home sells, following closing.

 

 

Ø       “How will you advertise my property” is a very important question to ask.  At this time, the agent should present examples of flyers, web pages, ads in local newspapers or real estate magazines.  In addition, the agent should suggest ways on how to increase the home’s exposure, such as holding an open house, yard signs, making the property as easy to show as possible, advertising to other local agents including the ability to share the listing with agents within the same brokerage such as agent caravans, etc.

 

Ø       “What incentives should I offer in a slow market and how do I stage my home?” is an excellent point to address.  In a slow market, sellers often must become creative and offer incentives to differentiate their home from others in the market and present their home at its best.  During a slow market, the number of homes for sale typically increases because the buyers are less available or shopping for bargains. Incentives offered by sellers can include:

·          Pricing the property very competitively.

·          Offering a substantial bonus to the selling broker, to encourage them to bring their buyers to your home.

·          Offering to contribute or cover the buyer’s closing costs.

·          Carrying the property tax for a period past the closing.

·          Considering a lease-purchase.

·          Considering partial owner financing.

·          Signing up for a mortgage assistance program.

 

Your agent should be able to suggest ways in which to make your home more marketable.


 
Category(s)
Home Selling Questions - Agent, Offer & Commissions FAQ's
Real Estate Information Sources - General Real Estate Information
Home Selling Questions - General Home Selling FAQ's
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