The
following questions will help you qualify the Realtor that you interview
for your real estate transaction.
1.
How many years have you been involved in the real estate business?
Atlanta
has about 18,000 licensed Realtors at any given time. Statistics
tell us that within 5 years, 72% of them will no longer be in the
business. You will want to engage the services of a Realtor that
is experienced and committed to the industry.
IMPORTANT
NOTE: Just because they have been in business 20 years, does
not always make them a good candidate! Often times it is the
"experienced veterans" who are reluctant to try anything
new or use cutting edge technology or marketing concepts that can
save you time and money.
2.
Is the company you are affiliated with nationally known?
Nationally
known companies usually have an excellent referral system and a
good track record of successful home sales in your area. In addition,
statistics show that a full 40% of homes are sold by company name
recognition or agent contact.
3.
Is your company a member of both FMLS and GAMLS systems?
MLS
stands for the Multiple Listing Service, wherein member companies
catalogue their listed properties for sale so that all agents have
immediate access to the information. This means all of the realty
companies and their Realtors will know your home is on the market,
and will show it to prospective buyers.
4.
Are you a member of the National Association of Realtors?
The
National Association requires higher standards of ethics for membership,
thus ensuring you are treated fairly.
5.
Are you a member of your local board of Realtors?
The
Cobb Board of Realtors requires a clearly outlined standard of ethics
and provides ongoing educational classes and awards for excellence.
This creates local accountability, credibility and influence.
6.
Do you use Talking House?
Talking
house is like having a 24/7 sales person promoting your home to
interested people that stop to look at your home from the outside.
7.
Do you have an assistant?
A
Realtor who does have an assistant will have the ability to give
you more time and individualized attention. Their assistant will
be able to help with details and paperwork, so that they can keep
in touch more often and have time to be more aggressive about selling
your home or finding the house of your dreams.
8.
Are you linked to the real estate market by computer?
In
the real estate industry these days, being computer proficient is
a must. A Realtor with easy access to a computer that is tied into
the MLS system will give the agent a large advantage in marketing
your home sufficiently.
8.
Do
you have any professional designations and have you won any awards?
Though
the fancy initials behind a Realtors name may not seem important
to you, they chart achievements in doing for others what you would
want your agent to do for you.
9.
Can
I get out of the listing if I am not pleased with your services?
It
is good to be loyal to an agent who has invested their time into
your home. However, you need to be free to back out if you feel
your home is not being marketed properly, you are not getting adequate
service and support, or if the agent has not made any progress on
getting your home sold after a sufficient time period.
10.
Is your real estate company of good size?
This
is an important question because larger companies have more agents
for more internal exposure of your property.
11.
Are your real estate signs easily recognizable to the general
public?
People
will more readily notice that your home is on the market if the
"For Sale" sign is colorful and easily readable, and if
the sign is familiar to them. Statistics show that many homes are
sold to prospective home-buyers responding to a "For Sale"
sign.
12.
Will you have a marketing plan for our house and will it be custom
tailored for our specific needs?
It
is a good idea to ask for a marketing plan in writing that you can
follow and monitor. You will want to be sure you are getting maximum
exposure to home buyers.
13.
Do you use professional flyers to give prospective buyers?
It
is important to know (and see a sample of) what potential buyers
will be leaving your home with. This is an important marketing tool
that needs to be properly utilized so that your prospective buyers
come away with something professional to remind them of the benefits
of purchasing your home.
14.
How do you get information about my home out to other Realtors?
Because
most homes are sold through Realtor showings, you need to make sure
other Realtors are well aware of your home being on the market.
This is in addition to the MLS listing.
15.
Do you use open houses? How effective are they?
Statistically,
open houses sell very few homes; only 1% of homes are sold to people
that saw a property during an open house. Open houses are very popular
because they can be very beneficial to agents by giving the Realtor
prospects for listing and selling other properties. However, your
agents time and the commission dollar you are paying, is much
better spent in other, more aggressive marketing areas.
16.
Will you give me a comprehensive plan so I can best prepare my home
for sale?
There
are many subtle improvements and arrangements you can make on your
home, that you may not be aware of. It is part of your agents
job to educate you on these preparations, because homes that are
well prepared for sale usually sell quicker and for more money.
17.
Will you give us your opinion of what the market value of our house
is, based on sold listings that are comparable?
A
"CMA" is a comparative market analysis based on recent
similar sales in the area of your house. A Realtor should not just
give you their opinion offhand, but should be able to document and
support their price recommendation.
18.
Do you request that all potential buyers be pre-qualified for a
loan before they submit a contract offer?
An
agent should always require that any offer submitted to you be from
someone who is already pre-qualified, and preferably pre-approved,
for a loan amount at or above your listing price. This can save
you the potential risk of thinking your home is sold, and weeks
later discovering that your prospective homebuyer cannot afford,
or was denied the mortgage loan for your property.
19.
Do you follow up on all showings of our home and report the results
back to us?
An
agent should follow up on each and every showing of your home and
get feedback from the showing agent to monitor for comments and
possible leads. This will make sure any deficiencies in your home
are quickly discovered and possibly remedied.
20.
Will you return all my calls in a timely manner?
Because
lack of communication is one of the biggest complaints in the real
estate industry, it is important that you get the agent to look
you in the eye and assure you they will call you back promptly when
paged or called. Everyone is human, but on average, you should get
rapid responses to your inquiries. Repeated failure to do so is
reason to cancel the listing.
21.
Will you be present during all contract negotiations for the sale
of our home?
Because
you have enlisted your agent to be your real estate advisor, they
should always be personally present during all contract negotiations.
This will save you large amounts of time, and worry, if a problem
should arise.