Questions Sellers Should Ask Their Prospective Agent

When selecting an real estate agent for your transaction, it is important to not go into your meeting blind. Determine what it is that you would like to get out their services in order to put yourself in the best position to sell your home. Here are 3 questions we suggest every seller should ask their prospective agents.

What's your negotiation strategy?

Real estate transactions can be tricky. The list of people that the selling party must negotiate with throughout the course of a transaction is extensive: The buyer, the buyer's agent, the buyer's attorney, the home inspection company, the buyer's lender, the appraiser, the title company...

The list goes on and on. You'll want to work with an agent that has a clear understanding of the process and how to how to handle themselves in challenging situations. Have them explain to you their ability to negotiate - a critical component to getting your home sold in this market.

What is the inventory level in my neighborhood?

Ask your agent about their knowledge of your neighborhood, especially in terms of inventory. This will be a good indication of their ability to sell your home, as this is a leading factor in determining price point and time on market.

Exploration of this question will also reveal their knowledge of the area, and knowledge of what types of buyers may be interested in your property.

How many price reductions do you do on a typical listing?

Get an understanding of the usual process that your agent undergoes in terms of pricing. Ask them specifically about how many price reductions they do on a typical listing.

If you're hearing a high number, this is your first warning flag that this agent may not be suitable for your transaction. You want an agent that knows how to price your home well from the very start of your transaction. When price reductions come into play, it resembles a longer market time - something you want to avoid at all costs.

Work with an agent who keeps price reductions to a minimum and has a great listing-to-close record.

Questions about selling your home? Don't hesitate to send us an email or give us a call!

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