What To Ask Before Choosing to Hire An Agent to Sell Your Property

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One of the most common things we hear as top-producing real estate agents is about how homeowners had neglected to properly interview the agent they had for their home. To help avoid that from happening, here are some factors to consider before you hire a real estate agent to sell your home.

Amount of Time Devoted to Profession

The real estate industry is one that can be very flexible for some yet completely encompassing for others. Your challenge will be to look for an agent that has made the profession their full-time career. The difference will be in the amount of time you can expect them to give you and the expertise level you can expect in return.

Level of Demonstrated Expertise

Experience comes from working with multiple clients in many different situations. As you interview prospective agents, take the time to inquire about past and current clients. Find out about the types of deals the agent specializes in. Are they specifically geared toward buyers or do they have experience with listing transactions? Don’t be afraid to check whether they are good at their job through references.

Length of Time Other Listings Remain on Market

Look into the length of time other listings they have taken have remained on the market. If you see a predominantly long number of days their properties sit on the market then it might indicate a lax marketing strategy – or worse, none at all. Marketing is a key component that you should be looking for and if a prospective agent lacks a viable marketing plan, you may want to think twice about that agent.

List to Sale Ratios

A lot of agents use less than scrupulous tactics to gain sellers’ business. One example is promising their clients higher selling prices only to disappoint their clients when the market dictates their home is worth less. Look for an agent’s list-to-sale ratios on other listings they have had. Are they being sold at or at least very close to the listing price? If not, it could be an indication of bad pricing advice or worse, evidence of those sneaky tactics to reel in business.
Keep in mind that these are just a few of the things that impact the success rate of a strong real estate agent. What you need also to be looking for is a winning combination of character, values, tech-savvy and market-smart techniques. No two attributes will be enough – rather it is essential that you feel comfortable with your agent, can trust them and are fairly certain that they deliver on their promises.

Hartford and Baltimore Counties – Market Update September 2012

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Homes Selling Quickly

We are seeing a lot of activity in our marketplace. A very positive thing for sellers – something that many have been waiting for since the market crashed in 2007. Homes are selling very fast – our average Days On Market is now at 26 days and new listings are selling quickly and with good results.

Well-Priced Homes Getting Top Dollar

The key to quickly selling properties is often the way it is priced. We are reporting a lot of properties that are priced to sell and those are the ones that not only get top dollar on their homes but also experience multiple offers, giving sellers an edge over buyers. Another factor that impacts the outcome is that buyers today are savvier than ever before so they recognize a property with a realistic (or unrealistic) price.

Inventory Continues to Dwindle

We are seeing a significant reduction in inventory this year over last – with as much as 30% fewer homes available on the market in Baltimore County and anywhere from 20 to 25% fewer homes on the market in Hartford County (depending on the month). What this means for sellers is that they are enjoying less competition and therefore can expect a higher list-to-sale ratio. For buyers this means there are fewer properties to choose from so it is imperative to be decisive and take action on properties of interest.

Strong Showing Homes Selling Faster

Homes that have been de-cluttered, neutralized and enhanced to suit a wide range of buyers are the ones that are selling the fastest. The idea is to allow buyers a chance to visualize themselves in the space – so the fewer personal items and more “blank slate” décor that is used, the better your selling prospects will be.
For a customized consultation to evaluate your real estate goals and how we can assist you, contact us today at 410 638 9555 or email at lee@leetessier.com. We look forward to the opportunity to work with you!