Serious sellers partner with the right professional Realtor
Serious sellers partner with the right professional Realtor By CLARISSA HILLS BROWN
Home owners who have been following this column's advice on becoming a serious seller have arrived at the point of taking the "big step." The single most important decision serious sellers face is partnering with the right professional, and that professional should be a Realtor.
Although there are many reasons a Realtor is the best choice, the most obvious is they belong to the National Association of Realtors. That's a distinction because membership holds them to a strict code of standards on how they do business. In turn, that assures the client - a seller in this instance - a high level of service.
What drives all of this is the National Association of Realtors' Code of Ethics. NAR's Code of Ethics isn't a window washing selling point. It's specific, and NAR is strict in dealing with anyone who doesn't live up to their standards.
A short version of the code can be found by pointing your browser to http://www.realtor.org/realtororg.nsf/pages/codeofethics-consumerquestions?opendocument&wt.mc_id=rd0081 .
The page also has a link to the full code of ethics.
It's a prudent idea to approach selecting a Realtor like you would hire an employee. I like to use the term "partner" because it's a better description of the most successful seller-Realtor ventures. And you might be surprised that neither the partnership nor relationship ends at the closing table.
Step one is narrowing the field. A good starting point is asking family members, friends and business associates for recommendations based on their past dealings with professionals and firms. If you're not satisfied with the recommendations you get, fire up the computer and surf the wealth of information that's available on local real estate firms' web sites.
One of the first things you'll notice is each Realtor has an alphabet soup behind their name. A Web search for "what do real estate designations and certifications mean" will help you understand what they mean and how they apply to your needs as a seller.
Narrow your search to three candidates from separate firms. Then call each and set up a face-to-face meeting. It's a good idea to prepare a list of questions in advance. You want that list to ensure you ask each candidate the same question so you can make an apples-to-apples comparison.
Some of the questions you might want to consider are:
- How long the Realtor has been selling real estate?
- How would he or she market your property, and what type exposure will the property get? What type media is included in the marketing plan? Do they have any listings near your home?
- How often will you get updates from your Realtor? Does he or she prefer to give update in person, on the phone or by e-mail?
- How many homes has he or she listed in the past year?
- How many homes have they sold in the past three months? Where were they, and what were the price ranges?
- Ask for the names of previous clients that you can call for a reference, then talk to each reference.
- Ask each Realtor to explain local market conditions in your community or neighborhood. You want to know what price range home are selling, how long they're on the market and what the competition is doing to make their listings competitive.
- Ask them what will he or she expect from you in the partnership?
By the time you have interviewed your candidates and checked their references you should be getting a feel for which would be the best partner. Don't be afraid to initiate a follow-up conversation if you need more information. When you're comfortable, seal the partnership and get ready for what comes next. We'll look at that next week. It's another big step because it centers on "what is my home worth, and what is the best listing price?
