Tweet
Hi all,
I have posted this email from Guerrilla Real Estate. The company is Aussie but I think the points can be applied in any country.
Hello Again Marc,
Listing your property for sale can be one of the most stressful times for familes. And choosing the wrong agent can impact both your selling experience and the price you acheive for the property HUGELY. Don't take the decision lightly. Here are some questions you should ask potential agents. And remember not to be shy. This is a decision that could make or break you to the tune of $100,000 or more.
Happy reading,
Stuart O'Neill.
[email protected]
1/ Do you mind if I ask you this series of questions?
They are definitely NOT interested in your business If they say No at this stage!
2/ How long have you been selling real estate?
It is important that you know about their experience in the industry.
3/ During this time, how many different agencies have you worked for?
This illustrates their stability (or lack of). If an agent has changed employers often, he/she may not stay with their current employer long enough to sell your property. Your contract is with the AGENCY, not the person, so you would be handed over to another rep. if your listing agent left.
4/ How many Exclusive listings do you currently have?
Exclusive listings are harder to get than Open listings. This will demonstrate how much confidence other sellers have in this agent.
5/ At your home, who answers the phone most often?
If it's the kids, have they been trained in how to answer the phone and take good messages? This is important.
6/ What has been your best month in real estate? How many properties did you sell in that month?
They should answer this immediately - who wouldn't remember their best month?
7/ Did you earn more than $50,000 last year selling real estate?
If the answer to this question is NO, then do not list your property with this agent.
8/ Can you put me in contact with at least 5 of your recent clients?
A good agent will happily supply this. By contacting their past vendors you can check whether they were happy with the service provided by the agent.
9/ Do you have any written referrals or testimonials from previous clients? If so, can I see them?
Most good agents have these and are only too happy to show them to you.
10/ Can you give me 10 suggestions which will improve my chances of selling this property?
Ask them to include things which are wrong with the property.
Get them to give an honest opinion of how your property presents. If an agent won't speak honestly about your property to you, then this is not the type of agent to use.
11/ How many properties have you sold in the last month?
In order to survive in real estate, a good agent needs to sell a minimum of two houses per month.
12/ Have the bulk of your sales been land, units or houses? Please tell me some of the prices you have achieved.
Note the types of property and price range the agent has sold in. If she has always sold large acreage land and you have a unit, you may wish to find an agent who has more experience in selling units.
13/ Can you tell me what some properties which are comparable to mine in this area have recently sold for?
You need an agent who knows your area and it's properties well. A professional agent will bring a computer printout of this information to their first meeting with you.
14/ What was your best deal?
This can be answered in several ways:
1 Biggest commission
2 Highest selling price
3 Sold the quickest
4 Very little effort
5 Great vendor/s and buyer/s
Note their criteria for the best deal - if they say the deal where they put in very little effort, think twice about hiring them.
15/ What was your most difficult deal?
The answer to this question will illustrate how they have dealt with difficulties in the past. If they have been working in the industry for more than a few months, it is very likely that they would have had at least one 'difficult deal'.
16/ How many buyer enquiries does your company receive each month?
How many potential buyers do you currently have on your books?
All agents get buyer enquiries, but only the good ones record the details of potential buyers - and use them!
17/ Are you prepared to contact me twice a month in writing stating your progress? Are you willing to telephone me at least once a week and after every inspection to keep me informed?
This commits them to keeping you informed of their progress - which is vital
18/ Can we play a hand in helping you with the marketing? If so, how?
A good agent should not need any help, other than presenting your home at its best. However, they may wish to accommodate you by asking for your suggestions. Remember that the marketing of your property should be aimed at the interests of the target buyers - your agent should know who they are.
19/ If I give you an exclusive listing, are you prepared to renew it every 30 days instead of signing a 60 or 90 day agreement?
Watch the agent's reaction to this one. If they snap or become agitated, be wary or don't sign with them. The purpose of this is to keep them on their toes and unprofessional agents won't like it.
20/ If I do give you the listing of my property and you are unsuccessful in selling it, what will be the cost to me?
Make sure you double check about advertising. Many agents will tell you that they only receive commission for selling the property, but neglect to say that you will have to pay for all the advertising whether the property sells or not. You need to know whether you will be paying this fee before you sign up.
I have posted this email from Guerrilla Real Estate. The company is Aussie but I think the points can be applied in any country.
Hello Again Marc,
Listing your property for sale can be one of the most stressful times for familes. And choosing the wrong agent can impact both your selling experience and the price you acheive for the property HUGELY. Don't take the decision lightly. Here are some questions you should ask potential agents. And remember not to be shy. This is a decision that could make or break you to the tune of $100,000 or more.
Happy reading,
Stuart O'Neill.
[email protected]
1/ Do you mind if I ask you this series of questions?
They are definitely NOT interested in your business If they say No at this stage!
2/ How long have you been selling real estate?
It is important that you know about their experience in the industry.
3/ During this time, how many different agencies have you worked for?
This illustrates their stability (or lack of). If an agent has changed employers often, he/she may not stay with their current employer long enough to sell your property. Your contract is with the AGENCY, not the person, so you would be handed over to another rep. if your listing agent left.
4/ How many Exclusive listings do you currently have?
Exclusive listings are harder to get than Open listings. This will demonstrate how much confidence other sellers have in this agent.
5/ At your home, who answers the phone most often?
If it's the kids, have they been trained in how to answer the phone and take good messages? This is important.
6/ What has been your best month in real estate? How many properties did you sell in that month?
They should answer this immediately - who wouldn't remember their best month?
7/ Did you earn more than $50,000 last year selling real estate?
If the answer to this question is NO, then do not list your property with this agent.
8/ Can you put me in contact with at least 5 of your recent clients?
A good agent will happily supply this. By contacting their past vendors you can check whether they were happy with the service provided by the agent.
9/ Do you have any written referrals or testimonials from previous clients? If so, can I see them?
Most good agents have these and are only too happy to show them to you.
10/ Can you give me 10 suggestions which will improve my chances of selling this property?
Ask them to include things which are wrong with the property.
Get them to give an honest opinion of how your property presents. If an agent won't speak honestly about your property to you, then this is not the type of agent to use.
11/ How many properties have you sold in the last month?
In order to survive in real estate, a good agent needs to sell a minimum of two houses per month.
12/ Have the bulk of your sales been land, units or houses? Please tell me some of the prices you have achieved.
Note the types of property and price range the agent has sold in. If she has always sold large acreage land and you have a unit, you may wish to find an agent who has more experience in selling units.
13/ Can you tell me what some properties which are comparable to mine in this area have recently sold for?
You need an agent who knows your area and it's properties well. A professional agent will bring a computer printout of this information to their first meeting with you.
14/ What was your best deal?
This can be answered in several ways:
1 Biggest commission
2 Highest selling price
3 Sold the quickest
4 Very little effort
5 Great vendor/s and buyer/s
Note their criteria for the best deal - if they say the deal where they put in very little effort, think twice about hiring them.
15/ What was your most difficult deal?
The answer to this question will illustrate how they have dealt with difficulties in the past. If they have been working in the industry for more than a few months, it is very likely that they would have had at least one 'difficult deal'.
16/ How many buyer enquiries does your company receive each month?
How many potential buyers do you currently have on your books?
All agents get buyer enquiries, but only the good ones record the details of potential buyers - and use them!
17/ Are you prepared to contact me twice a month in writing stating your progress? Are you willing to telephone me at least once a week and after every inspection to keep me informed?
This commits them to keeping you informed of their progress - which is vital
18/ Can we play a hand in helping you with the marketing? If so, how?
A good agent should not need any help, other than presenting your home at its best. However, they may wish to accommodate you by asking for your suggestions. Remember that the marketing of your property should be aimed at the interests of the target buyers - your agent should know who they are.
19/ If I give you an exclusive listing, are you prepared to renew it every 30 days instead of signing a 60 or 90 day agreement?
Watch the agent's reaction to this one. If they snap or become agitated, be wary or don't sign with them. The purpose of this is to keep them on their toes and unprofessional agents won't like it.
20/ If I do give you the listing of my property and you are unsuccessful in selling it, what will be the cost to me?
Make sure you double check about advertising. Many agents will tell you that they only receive commission for selling the property, but neglect to say that you will have to pay for all the advertising whether the property sells or not. You need to know whether you will be paying this fee before you sign up.
Comment