By Emilio DiSpirito Top Listing Realtor
#4 in the United States for Homes Sold 2016 with HomeSmart
#6 in Rhode Island for Homes Sold 2016
First off, when selling your home as a For Sale By Owner, you will net 13% less than you would without a Realtor. Fact. So I am not suggesting for you to not hire a Realtor, however, to be selective about who you hire and use the following as a guide for your selection of who not to hire!
By the way, before we begin here, it's important to know that 87% of all Realtors fail within their first 5 years. Make sure you are interviewing the survivors aka winners. So how do you weed out the not so successful? Watch for these telltale signs!!
- Agent speaks of firms success, even shows you charts of the county, state or national sales. This often always indicated lack of personal experience and sales history. You do not want to be someone's guinea pig!! You might as well sell FSBO and be ok with a huge loss.
- Ask this agent the following questions:
- How many homes have you sold in the past 6 months?
- How many homes have you sold in this town?
- Part-time agent! Did you meet this agent at your day job?
- How is agent going to answer calls, negotiate offers timely, market the property, etc. when working a full-time day job answering to a boss all day?
- The agent does not supply you with comps and an original marketing plan. They listen to your suggestions as a homeowner on price and do not offer professional input.
- The agent may not know the local real estate market.
- This Realtor may be brand new and not have any guidance from his brokerage.
- Pricing your home too high on the market and having it sit for 17 weeks or longer will result in a sale price of 93% of what you should have received. That is $279,000 on a $300,000 home.. $21,000 less!!!
- A reduced commission is offered.
- You have to ask yourself: "If this salesperson is so quick to drop their own pay, how hard or well will they negotiate for mine?" Proven negotiating skills are needed. Ask your agent about history of negotiations and tune in. You will know if you have a winner.
- With a reduced commission and your agent having to split their pay with their brokerage and almost always a buyer's agent, there will be little incentive for them to service your listing and invest in marketing. This will make your home sell for a lower price.
- Why not list with that 6% agent who will net you 1% to 7% more ($3,000 to $21,000 more)?
- Do they Have Systems?
- Approximately 183 steps in the process of selling a home. Is your agent juggling all of those balls or does he/she have a team that handles
- Timely Paperwork Facilitation
- Lead Generation
- Realtor Reach Out, etc,
- Lack of reviews online!
- May show that agent does not understand technology and that they have a small or weak online presence.
- 93% of home shoppers use online to search!
- May show that your prospective agent has lack of experience and sales.
- Maybe your agent is just lazy.. If they won't work on their own business, why would they work on yours?