Thread: interview agents

You are already off to a bad start with your backwards logic.

If you talk to 3 or 4 agents you will get pricing figures from low to high. Your mind set is that the low pricing agent is just looking for a quick sale so you will go with the agent who claims to be able to sell it for more.

After some time on the market this agent will most likely try to get you to lower your price. You will resist for a while and then reduce your price but you will end up chasing the declining market down, always priced just a little to high to attract a buyer.

In a declining market your house will be worth less in 6 months from now so the only way to get the most out of your sale is to sell it now.

Reality Check

A lot of agents will list anything at any price, unrealistically high priced or not, just to get a sign in the yard. The sign will get them calls from buyers which is what they are looking for. For a lot of agents this is their only way to get new business.

Study the comparable sold properties and take off the rose colored glasses. Only look at comps that match your house and use a critical eye when looking at your house.

If an agent uses for sale properties as comps eliminate that agent from your list.

It used to be that buyers determined a property's value by what they were willing to pay but these days it is the appraisers who determine the value and they only look at what has sold.

The agent who you think is trying to make a quick sale is probably giving you the best advice.

If you are priced too high in this market you may as well not be for sale.

If you want to interview a few real estate agents thats great. Ask each one to give you a market analysis of your house and give you a price opinion. The market analysis will include recent comparable home sales. You can easily look at the recent homes that have sold in your area which are similar to yours and compare. This way you can decide for yourself what the value of your house is and what it should be listed for. Be sure to be open minded to what each real estate agent has to say. It really common for the client to think there house is better than all of the comparable properties and want to list their house too high.

There are some sellers who talk with some real estate agents but their ears are closed. If you can listen to an expert real estate agent, you'll be sure to find the right moves for selling your house. Always keep learning with experts for the best guide.

Re-read Greg's response.

Didn't we answer this already?

1) Price home according to SOLD comps in the area. You can get these SOLD comps from your Realtor. Once again, ask them for a Statistical CMA going back six months in your immediate area; not ten miles radius. Compare your square footage to SOLD homes' square footage and look at the average SOLD price.

2) Pay an appraiser (like what Greg said).

The buyer's lender is only going to order an appraisal of your house anyway when the buyer makes an offer.

Since you sound like you're still unsure who to trust, how to price, then opt for choice 2. Get the paperwork from the appraiser then list your house for what they suggested.

I agree with Greg as well.

Talk to several REALTORs and get your feel for which one you would feel best working with. Do not be tempted to go with the one that suggests the highest amount for your home.

Interview several agents about your listing. A good agent will have a good listing presentation and will do his/her homework. That agent will have a list of comparable properties that have sold recently in your area, and will come up with a reasonable price that your house will sell for.
Like previous responders have metioned, some agents will suggest a price that's too high in the hopes of raising your hopes as to what your house is really worth. Once their sign is on your lawn they will use it to attract buyers and try to turn those buyers into clients that they can sell other properties to. Then after a while they'll ask you for a price reduction because the house isn't moving.
While the vast majority of agents are really decent, honest people, there are some bad apples. An internet search should give you a basic feel as to what your house is worth, so do a bitof reasearch first.

Originally Posted by malcolmjohnston

really decent, honest people, there are some bad apples.

+1

OK, You are off track fon the question. Knowing what you know about the market, reallity, human nature and you your fellow real estate agent, and you had to use someone you did not know... What would you ask as perspective agent to get the most bang for your investment. My home that I paid off is my biggest asset and I don't want to get ripped-off.

Originally Posted by VTXHOGG

What would you ask as perspective agent to get the most bang for your investment. My home that

Ask 4 agents to do a CMA.

Ask what type of marketing will be done.

Re-read my initial post.

Each agent will probably do a presentation where they explain what they do. Questions should come to you during this and you can question them as they do their presentation. You can always call them later for clarification.

Require entry into MLS.

Disregard any agent who insists you sign on the spot.

Get all promises in writing.