Questions to Ask Real Estate Professionals
It's important that you hire the right realtor from the beginning or your home may be on the market much longer than you anticipate. Here are some questions that you should rightfully ask.
1. Are you a member of a local board of realtors? This means your professional is a Realtor and not just a real estate agent. Realtors are bound by a strict Code of Ethics and are part of their state association of realtors as well as the national association of realtors. They are committed to treating all parties in a transaction honestly and to obtain a level of knowledge about the buying and selling process by means of yearly continuing education hours and business. Realtors are identified by the logo on their business cards, pins and other marketing literature.
2. How long have you been selling real estate ? Level of experience needn't be the only factor, but it helps.
3. What kind of sales/transactions do you participate in annually?The average realtor does 6-12.
4. What's the average length of time your listings are on the market? The longer the time, the more likely the salesperson isn't a sticklier for marketing, advertising, networking, staging your home, or realistic pricing. Our average days on the market have been minimal when priced to sell. Depending on your price range,location, condition and time of year, this can vary. It is price and marketing that control your sale or lack of a sale.
5. What specifically will you do to get my home sold? Expect to see a marketing plan or steps that will be taken. Our homes go into the MLS both local and in the Twin Cities Northstar MLS, online on many sites (where my site links from others, such as lenders, chambers, business organizations such as Northshore Visitor, Visit Duluth, Lake Superior Magazine, LakeHomesUSA), real estate magazines, newspapers in 4 Counties, and where ever I find an appropriate fit. At times, tv, radio, and networking with other realtors works well besides a postcard campaign.
5. How often will I hear from you once I've given you the listing? It is realistic to expect communications in some form, e-mail, fax, phone, cell phone or whatever works for you. I call with feedback after showings, and send copies of all advertising that is happening as well as my internet statistics (hits/viewings on your property which are averaging 100 a day or more). We do make weekly phone contact and provide our sellers with an online link from which to get information and communicate with us for those that are internet types.
6. Will you keep me informed about changes in the market that will affect my price and terms? What other comparable homes sell for and get listed in your area will affect your price as appraisers, lenders, and realtors work with the same information. We send comparables on a regular basis and do not need a large price difference for negotiation. Our statistics show I have been getting 98% or better of list to sale price
7. What are your company resources? Who is your broker and how do they support your marketing efforts? Do you have an assistant? My brokerage is owned by Warren Buffet the richest man in the world per Forbes Magazine. While we do run our own business , at this time we do have an assistant and also have systems of checks and balances in place to make sure that all properties get the same steps covered. We are realtor partners at Edina who have teamed up for better coverage and service and we do tour our homes so we can find buyers faster.
8. What if anything do you do that is different from others? We involve our sellers and buyers in the process and appreciate their candid feedback and participation in keeping me on target of their needs. "No" is not in my vocabulary but is replaced by "how." We are outside of the box sort of people who always go the extra mile for quality service each and every time and have earned awards that reflects that. We can stage the home to sell and can also refer you to another realtor if you are relocating. We will be honest and work in your best interest to complete the job at hand so everyone wins.
REPRESENTING BUYERS
There are things that an exlusive buyers agent will and should do for his/her client. Just because a sales person is showing you a home does not make them your "assumed" buyer's agent. You must have signed a buyer's agency contract agreeing for their total commitment to you, and you to them as their exclusive client/agent relationship. Once this is accomplished you should receive the following services items when looking at homes.
1. A sellers disclosure form. (as of January 2003 the State of MN requires disclosures for the property, well and septic, mold, airport info, lead base paint and Meth).
2. Copies of any home inspection reports.
3. A statement about the property's locations if in a floodplane.
4. A binder with condo or homowners association covenants, bylaws, restrictions (if applicable).
5. Information regarding any assessments.
6. What other homes have sold for that are similar within the last 6 months to a year.
7. Photographs of any poplular neighborhood ammenities.
8. Current tax information, bills, utility bills for the property.
9. A list of appliances and fixtures that are included with the sale.
10. Honest, and timely communications.
