Interviewing your next listing agent.

Ok spring is here and we are starting to see the Fayetteville NC market move! YAAA that is the good news! The bad (and I plan to turn this into a positive for those of you reading this) there are a ton of homes on the market that have been on the market for quite some time.

If you are getting ready to put your home on the market here are my suggestions as to what steps you should take right now. I'm going on the assumption that you will enlist the services of a professional REALTOR. Statistics are in your favor when you do for a faster sale and higher sales price. ( yes you can net more with an agent even paying a commission.) I won't go into that here but I do have more information about how you reduce your risks (and there are a lot) when you use a professional.

Your Realtor is an important part of the process so make sure you take your time and do your research here. I suggest you write down some questions and interview several. Google the agent to see if they have a true internet presence, and by that I mean how they are marketing their listings, how they are attracting buyers. Just having a website is not enough. Are they truly adding value by syndicating their listings to show up on all the major sites, do they use lots of picture and descriptions to make the listings "sticky" and compel buyers to take action? Are they taking listings that have no chance of selling because they are priced too high or in poor condition? Why is that important? A serious agent will take their fiduciary obligations to their client very seriously. If they are not going to be straight with their client by telling them the dangers of overpricing and marketing a home that will not compete in the market they are in my opinion doing a disservice to both themselves and the their clients.

Do they have a marketing plan, in writing? You need to know what it is they will be market your house and why! Make no mistake; the commission is not earned until the house is closed. The agent will be "fronting" the money to market the home and if they are going to just "wing" it and do the very minimal amount you will lose valuable time and money. An experienced agent does not "wing it" They are invested in the sale of your home and have a clear plan to accomplish that. Get the marketing plan prior to the appointment and read over it carefully. If there is something you think they should be doing that is not on the plan you will want to ask them about it in the interview. Most agents have long since moved on from what used to work, things like open houses that are pretty much a thing of the past unless it is new construction.

Another trait you should look for is an agent who has all the information about your area in the way of stats on what is selling and what's not. Absorption rates, Days on Market, odds of homes selling etc. Don't limit your competition to just the immediate area, buyers have access to every home on the market. The agent should be able to provide you with information about where buyers are buying and how to prepare your home to compete with them.

What extra services does the agent provide? Do they use a professional photographer? Home Stager? Do they have a good list of service providers such as contractors, homes inspectors, lenders and other professionals that are at the ready. Do they utilize social networking sites and use tools like video and virtual tours to market your home to a larger audience?

What skills do they bring to the table? Marketing your home is only a small part of the equation. Once your home is under contract this is where the agent really earns their commission. There are a number of details and dates to keep up with. They need to be able to communicate will with the buyers agent, the buyers lender, and have the experience to anticipate any problems and proactively deal with them before they blow up a deal. If they are bragging about how they are a hard-ass (sorry but that is the only word that I can think of!) they may not be well liked by other agents and if that happens other agents will do anything to avoid being in a cross sale with them. This will hurt the seller in the long run. A balance can be achieved with an agent with good social skills, they will know how to represent and protect their client's interest while achieving a smooth transaction.

Communication is key...will they list your home and disappear when things do go they way they should? You should ask how they will be communicating with you and how often. Sometimes just making a weekly "date" prior to the sale will be enough for you.

If the agent is not living up to what you agree upon will you be able to get out of the listing agreement? What are the penalties if you do back out? Do they offer an easy exit listing agreement?

Should you go with a brand name company or use a single agent? I'll say this about that! Every agent no matter what company they are with are independent contractors. They are their own company within their company. If they are using that company as the reason you should work with them ask them what it is that their company provides that makes that so. Ultimately the agent is the focus of your interview. Just because they work for a "top firm" does not instantly mean they have the experience to get the job done.

I could go on here because there is more to listing a home then putting a sign in the yard and a picture on the local MLS. Do your research and get your questions together make your appointments. Take your time, ask a lot of questions. You will be working with this agent for awhile and need to feel confident that you made the right choice.