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Evaluating a Real Estate Agency to Sell Your Home - SELLERS

Without any obligation, you can invite local agents, brokers and Realtors® to visit your home and give you a "listing presentation" about why they're the best ones to market your home for you. Two to three presentations will probably give you a good opportunity for choice. A listing presentation includes having the broker review with you the reasons why you should list with that particular individual, and provide you with information that will assist you in making initial decisions about selling your home.

Recent laws in every state have defined the duties of someone specifically retained as a real estate agent. Most states require a real estate agent to explain his or her role at the outset of any conversation. Look for an agent who:

  • Explains and discloses agency relationships (the role of the agent, i.e., who they are representing—the buyer or the seller) early on in the process.
  • Advises you on how to prepare your home for the market.
  • Shows some enthusiasm for your property, listens attentively, instills confidence, operates in a professional manner and has a complementary personality style to yours.
  • Has already researched your property in the public records and the Multiple Listing Service (MLS).
  • Brings data (Comparative Market Analysis—CMA) on nearby homes that have sold (or failed to sell) recently.

The following are important questions to ask a potential agent:

What a Realtor® will do for you. There are many important reasons to use a broker / Realtor®. Some of the duties your real estate agent will perform for you include:

  • Walking through the process of selling your home from beginning to end.
  • Providing comparable information about the prices for which other properties have sold and analyzing data for you to gain a true comparison. This is called a Comparative Market Analysis (CMA).
  • Supplying information regarding local customs and regulations you may want to consider.
    Sharing information about your home through the Multiple Listing Service and on the Internet.
  • Placing advertisements for your home.
  • Fielding phone calls.
  • "Qualifying" potential buyers to make sure they would be financially able to buy your property.
  • Negotiating the sales contract.
  • Alerting you to potential risks.
  • Complying with the disclosures required by law.
  • Providing you with an estimate of the closing costs you will incur.
  • Helping you prepare for a smooth closing of the transaction.

Copyright Writers Opinion LLC 2010