Q. I have a friend who is a realtor, shouldn’t I use them?
A. I can certainly appreciate wanting to help a friend by giving them your business, and in the Maine real estate market almost everyone considers doing that at some point. But before you choose your realtor, you should ask yourself some critical questions:
- Do you absolutely have to sell your house and buy a new home, or are you just looking to do your friend a favor?
- As the seller you need to consider this as a business decision and ask yourself, “Which real estate agent will be the most financially beneficial for me?”
- If something goes awry during the sale of your home, would you want it to impact that friendship?
Q. Why do some agents claim they can get me more money?
A. There are several possible answers to consider.
- A realtor that will list your property overpriced assumes they can just take the listing now, then start beating you up on the price week after week because your property isn’t selling.
- They are telling you whatever you want to hear just to take your listing because they know that just by having the listing, potential buyers will call them. Some agents actually do this in order to then redirect buyers to other, better-priced properties where they know they will get paid a full commission, costing you time, money and unnecessary frustration.
- They overprice your property because they simply aren’t paying attention to the market and looking at what similar properties in your area are being priced at, putting you at a disadvantage.
Now are any of these the type of real estate agents that you want working for you?
Q. How important is it to be familiar or comfortable with the company you hire?
A. When you stop and think about it, I am certain you realize that a company doesn’t sell a home, it’s the hard work and dedication of individual real estate agents. The question you need to ask yourself is if you feel confident in my ability to sell your house in the timeframe that you need, and maximize the profits that you’ll receive from the sale of your home.
Q. Is it important to have an agent who sells a lot of homes in a certain area?
A. The most beneficial reason to choosing a real estate agent like me is the fact that I have homes for sale throughout Maine. Meaning when you sign the contract with Landing Real Estate, I can expose your property to potential buyers from all over the area. Now isn’t that the kind of marketing exposure you’re looking for?
Q. How do you sell homes?
A. There are really two kinds of real estate agents working today – active and passive. I am an active agent, meaning that when you sign the contract to partner with me to be your realtor, I will spend my time actively marketing your home to the public and the other active real estate agents in town. You want an agent that will work actively and aggressively to get your home sold.
Q. Would you cut your commission? Other agents said they would.
A. This is a great question and let me tell you why this makes me nervous. There are a lot of desperate agents out there, and if a realtor doesn’t have the courage to stand up to you regarding their own worth, how strong could they possibly be at defending you and the price you set on your home? I’m going to show you upfront how tough I’m going to be on your price by being tough on my commission. In today’s market, the standard commission is 6%. I charge 3% for the listing side and it is customary to pay 3% to the buyer’s agent. You do want to have the most exposure to the home buyers, right?
Q. How long should we list?
A. In today’s market with homes sitting longer and longer it is imperative we price your home aggressively up front, and react quickly if it doesn’t sell within 21 days. If we can agree to price competitively up front, and then adjust our position as necessary if the market doesn’t see our value, we should absolutely be able to sell the home in the timeframe you want.