I am looking for the very best real estate agent to sell my house. How do I find that person?

I live in the Austin, Tx area and our real estate market is not as bad as some of the other parts of the country. That being said...we will be needing to sell by May or June. I want to put it on the market in February, but I want to find the top agent in our market. I plan on interviewing several, but how can I go about finding the top agents?

It is not to easy to answer. A good listing agent is not always a good selling agent. There are very good agents they are just "banking" on a lot of listings and have other agents sell your property. The "numbers" at the end of the year might look even better than the numbers of a good "selling" agent.

I think the best agent for you is an agent who you trust, an agent who gets back to you and who will inform you about activities in the market in generally and for your house specific. And an Agent who can come up with creative marketing ideas. An Agent who thinks outside the box.

I think the best question you can ask an Agent while interviewing: "how would you market our property" and do not listen to much to "I will put it online, I will advertise in local papers or real estate magazines" Try to listen to creative ideas specially for your property beside an open house - something what is new, something what will make your property stand out from all other properties currently being advertised in your area.

In regards of commission. If you want the best agent - I think you should not negotiate the commission. The best agent will give his/her very best and will have quiet some expenses up front to market and advertise. This agent will only get paid when the house is sold.

Simply by asking a lot of questions. You want to find out what marketing efforts the agent is going to make to sell your home. Find out the average time homes are on the market in your area, and the average length of time for their sold listings. Ask around for referrals to agents, from people you trust that have recently bought or sold. You not only want to look at the agent, but the company they are working for, because some real estate brokerages offer different perks to ease the sale. Lastly, put a clause in the listing agreement allowing you to terminate it with cause prior to expiration.

A word of caution, it is tempting to go with the agent that quotes you the cheapest commission rate and that suggests the highest listing price, but be careful. Cutting the commission may end up costing you more in the end because that makes your home less appealing for other agents to sell it (because they can sell a similar home down the street for more money), and if your home isn't priced correctly, it will sit on the market longer, and you may have to reduce it more than the amount you would have "lost" by pricing it correctly just to attract a buyer. The longer your home sits on the market, the less appeal it has, because buyers start to assume there is something wrong with it because nobody wants it.

You might find this answer strange, but what are you looking for the agent to do?

A Seller's agent puts the house on the market: MLS, sign, lockbox.

A Buyer's agent has clients who are looking to purchase.

So which is the better agent: the one who put it on MLS or the one with a Buyer?

The final decision still comes down to the person who has the money. If you want your house to sell at a certain price, and the Buyer's agent has researched and determined that it won't appraise at that price (or that similar properties are less expensive), then your house may sit longer than you'd like.

Some people find after a while that a big name doesn't sell the property: the property must sell itself. And, if you offer a nice enough size commission to both agents.

Since many people are not sure how to work with the brokerage community, i've made up a list of questions that can assist you in finding a good flexible agent. These questions may assist you finding the “Right One” for you.

Q. “Can” (Will their broker allow it), and “Will you” take a discounted or deferred commission to make a deal work?

A. All agents work under a brokerage and even though “they” might be willing to take a discount their broker might not allow them, this can be a big concern especially if your circumstances force you into accepting a lower price. You could come out of pocket a few thousand dollars just to pay the Realtor if he answers “No” to this question. Whereas if he were able to take a discount or defer you could walk away with your margins in tack. I have seen many deals where it came down to as little as a few hundred dollars difference and the agent either couldn’t’ or wouldn’t discount his/her commission and it cost the deal. If they say “Absolutely No” let them know you are not after them working for a lesser or discounted commission, you just need to know they can be flexible if you get in a tight spot.

Q. Can or will you give me a written commitment to advertising dollars spent each month?

A. There are some agents who will do nothing more then list your house on the Multi Listing Service “MLS”. And that is it, they expect other agents to sell your house for them, and they get paid for sitting on their butt. Don’t be unrealistic, $1000 a month advertising on a $50K house ain’t gonna happen. Ask that they send you proofs, or copies of ads etc. Most offices have bulk advertising that agents can participate in for a nominal fee. Remember your agent is not the one who is making your house payment every month, you are. No-one cares about selling your houses like you do.

Q. How long at the “Suggested listing price” will it take, to sell my house?

A. Sure your agent will tell you what your house is worth, he may even give you a comparable sales analysis. However, what will it “Sell for”? Some people want their agents to lie to them, tell your agent that you want nothing but the facts. This is very important, there are areas where even though your house may be worth $200,000.00 it will only sell for $180,000.00. You need to know these things before listing. Don’t find out after the house has been listed a year with no offers. Don’t overprice your listing, it’s the kiss of death.

Q. Can we write a 30 or 60 day listing agreement?

A. Ok this one’s tricky, if he won’t, ask him why? I mean if he said he can sell it in 30 days if it’s priced right, then a 120 day listing is an unreasonable request? Maybe his broker won’t let him list a home for less time? If so find another agent. The listing agreement locks you into that agent for the length of the listing. And like a really bad marriage can devastating to your cash flow. I have seen properties listed for over 2 years and the agent won’t let the sellers out of their listing agreement, even though the agent has not brought a single offer. Ask if you can “Fire him” if your not satisfied. Get the answer in writing. That question alone goes along way in determining the character of an agent.

Q. Do you yourself own real estate? How much? How long? Are you familiar with creative “No money down” strategies etc..?

A. This question is important. If you knew how many agents don’t own property themselves you would be surprised. How can any agent like that represent you? Are they familiar with “creative strategies”? If not they might talk prospects out of making an offer because they don’t understand it, or they think it is illegal. This could mean you miss a sale because your agent did his thinking for you.

Q. How many listings does he/she have currently on the market?

A. This is a great question I know a Realtor that has over 500 listings, and that’s in just one county. Does he really expect anyone to believe that he can handle, and service all of those customers? If he spent one hour a week on each he would never sleep. This agent just gets as many listings as he can and lets other agents sell them. He quietly collects his 3% and really only spends time getting the next listing. If the agent your interviewing has too many listing don’t walk away---- run. He can’t possibly serve your best interests.

Q. What % of your listings sell?

A. Although his percentage may be low what you are really looking for is his willingness to disclose to you the facts. Just because his percentages are low does not mean he’s a bad agent. Market considerations etc may come into play. Also ask the Realtor your interviewing for references. I’m not talking his friends or family I’m talking people for whom he has listed their house and sold, as well as those he has not sold. He should have no problem giving them to you. Remember what you are looking for is his willingness to disclose to you all the facts up front, his willingne

I agree with much of what Ramman said except for the part about lower commissions...a reputable realtor will take the lessor commission, but not pass that discount onto the selling agent...

when you say "top agent" do you mean the one who has the highest sales volume? that type of realtor likely will have a team of assistants who do all the grunt work but have no authority and you will never actually speak to the "star" realtor after she takes your listing. I, personally, like dealing with a realtor who works by herself rather than a whole team. remember that the realtor's interests aren't always the same as the client's.

Although the Austin real estate market in general has not been hit as hard as other areas of the US, the economic downturn has taken a heavy toll in our area. Sales prices have not plummeted, but number of closed sales have. In an area of Central Austin, reported closed sales are down 40% from 1 year ago. That's significant.

I think you are smart to get your house on the market in February for a May/June closing. Summer is the busiest season for real estate sales in Austin. If your house is not under contract by late July or early August, it may sit a while unless there is a drastic price reduction or other concession.

You ask for the "best" real estate agent to sell your house and you ask about the "top" agent - what is your criteria? Is it the agent with the highest volume of closed sales? Is it the agent who has helped clients get the highest price for their properties? Is it the agent who has helped clients get the quickest sale? Lots of variables, what is your priority?

The flashiest agent who drives a new, expensive car may be paying for the "bling" with your nickel. Every $5,000 in reduced sales price to you is probably $150 or less in their pocket vs a quick sale.

I think you should consider that what is for sale is your house, not the agent. The right house, at the right price, in the right condition and location will sell. Now, helping you determine the right price and negotiate the conditions and terms of the sale as well as helping you with the details from "contract to close"...that is the agent.

Is your house in the most desired price range, condition and location for largest number of prospective buyers in Austin? If your house has too high an asking price, is in less than very good condition and in a less desirable location the number of prospective buyers may drop dramatically.

This doesn't mean your house won't sell, just may not sell quickly or for the best price, regardless of having the "top" agent in Austin. The longer your house is on the market the greater the perception that there is "something" wrong with it.

Are you going to be a pro-active participant in selling your property?What are you willing to do to successfully market your property? Are you willing to be realistic in pricing your property to attract buyers? Will you maintain the house in "showing condition" and be flexible with showing hours? Are you willing to get a professional inspection before marketing your property and disclosing that inspection to potential buyers? Will you do necessary repairs outlined in the inspection, or known to you already, to help minimize "surprises" during a buyer's inspection?

Really, a good agent will probably want assurance of your participation and cooperation before agreeing to list your property. Since we do not earn anything until your property is sold, we take on expenses that will never be repaid if we have unrealistic clients.

I agree that you should interview several agents. I would think you want an agent who is good and successful, but not so busy that you will take a back seat. You probably want to make sure that your agent will never forget that you are the client.

As noted by another poster, be careful of an agent who trys to "buy" your listing - promising inflated sales price or unrealistically short marketing time. Realize that this has a been a very slow market and look for an agent with a proven track record, not just recent sales.

Make sure you are realistic and comfortable with the suggested list price and marketing plan for your house. Look closely at the Comparable Market Analysis the agent presents. Does it make sense? In addition to recent closed sales, how many pending sales are there in your area? What are your competitions' asking prices?

What kind of advertising exposure will the agent give your house? Open houses and newspaper ads do not generally sell the house, but exposure on the internet is vital in today's market. I think this is especially true in Austin.

I suggest you meet with at least 3 agents. If you don't feel any of them is the "right one", choose 3 other agents to meet. Go for substance over style...I think you'll be happier with the results.

Good luck.

. . . .it's still a lousy market, and the MLS does MOST of the work. . . .

any agent you hire will just list it on the MLS and wait for another agent to find you buyer. So just do the following:
1. Do a 5% commission agreement where your agent gets 1% and the buyer's agent gets 4%.
2. In a downward market, list your property lower than your competition. It's better to take a loss upfront than to chase the market down.
3. offer closing cost.

These three items will get your property sold fast.

U did not volunteer why you wanted to sell; it does matter.

sometimes it is best to sell only part of a house
other times it is best to exchange a house for one where
you want to move to

sometimes it is a good idea to put a small, profitable biz inside
the house to make it a zero risk deal for the buyer

Enter Your Message or Comment

User Name:
User Email:
Post a comment:

Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.014
Copyright (c) 2011 Financial Crisis Monday, May 28, 2012 - Terms of use - Privacy Policy