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5 Things Sellers Must Require of a Real Estate Agent

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Are you thinking of selling your home? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just like a great doctor or great accountant. You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one. Let us help.

If I were hiring an agent to sell my home today, I would require they:

1. Tell me the truth about the price

Too many agents just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a buyer and then to the bank.

The second sale may be more difficult than he first. The residential appraisal process has gone through a complete overhaul in the last twelve months. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the listing.

2. Understand the timetable with which my family is dealing

You will be moving your family to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan. This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. I am not suggesting that your agent can pick the exact date for your move. You just want the agent to exert any influence they can.

3. Remove as many of the challenges as possible

We are still in a market which heavily favors the buyer. With buyer demand steady at best and inventories of homes for sale climbing, the buyer can feel that they have all the power in the negotiation. It is imperative that your agent know how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them (commission, length, etc.), don’t expect them to turn into Superman when they are negotiating for you with your buyer.

4. Help with the relocation

If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.

5. Get the house SOLD!

There is a reason you are putting yourself and your family through the process of moving. You are moving on with your life in some way. The reason is important, or you wouldn’t be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.

Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT!

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About Steve Harney

Steve Harney is a residential real estate expert who specializes in market trends and authors a monthly informational presentation for top real estate professionals titled, "Keeping Current Matters" (KCM). Steve is often quoted in major news sources such as The U.S. News & World Report, MSN Money, The Chicago Tribune and The Los Angeles Times. He has received the great honor of being recognized as one of the 100 Most Influential Leaders in Real Estate by Inman News and one of the 200 Most Powerful People in Residential Real Estate by the Swanepoel Organization.

2 Responses to “5 Things Sellers Must Require of a Real Estate Agent”

  1. Alex Cortez June 24, 2010 at 10:58 pm # Reply

    Steve, great points. Specially the first one. Way too many agents take a listing even if ridiculously overprices, with the intent of working the seller a month down the road to get a price reduction. Chasing down the market is only going to result in disappointed sellers. RT’ing this post.

  2. Alan Gross August 23, 2010 at 8:48 am # Reply

    Straight, simple and to the point. Focus on your customers want and needs.

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