Selling A Home Series: Top Ten Questions to Ask Your REALTOR

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How do you find a competent REALTOR® to sell your home?

What are the relevant questions you should ask to find the most qualified REALTOR for the job?

Catherine Zerba is a real estate professional with more than 16 years of residential and corporate real estate experience. This presentation will help to educate home sellers on the questions they should ask to ensure that the REALTOR they choose to list their home will be truly qualified to represent their best interests.

For more information, contact Catherine Zerba at www.catherinezerba.com

Published in: Business, Economy & Finance
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Selling A Home Series: Top Ten Questions to Ask Your REALTOR

  1. 1. Catherine Zerba's SELLING A HOME SERIES: Top 10 Questions for Hiring Your REALTOR® Catherine Zerba, REALTOR® Catherine@catherinezerba.com linkedin.com/in/CatherineZerba 617.688.6024 www.CatherineZerba.com facebook.com/CatherineZerba twitter.com/CatherineZerba  
  2. 2. Introduction: How do you find a competent REALTOR®? You’ve decided to sell your home and need to find a REALTOR®. Do you; a) Pick up the phone and call a local real estate agency and hire the first person that answers the phone? b) Hire your relative that dabbles in real estate part-time? c) Approach the process like an interview for a job and have questions prepared in advance and find 2-3 REALTOR®s to interview? There is no correct answer however I hope most of you thought “c” might be the correct choice. All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  3. 3. (con’t) Introduction: How do you find a competent REALTOR®? • What are the relevant questions you should ask to find the most qualified REALTOR® for the job? • I’m amazed that people don’t ask me more questions for such an important decision/financial investment. Therefore, I’ve compiled the “Top 10 Questions” to ask in order to assist you! All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  4. 4. #1 – What Services will my REALTOR® perform to sell my home? •  What differentiates this REALTOR®’s services from the others? (Sales, Marketing, Negotiating & Project Management, etc.) •  A listing contract is typically a 2 page document and does not specify all the tasks that a REALTOR® should perform for you. •  Ask the REALTOR® to document, in writing, all the tasks they said they would perform for you and attach it as an Addendum to the listing contract. Tasks/deliverables with deadlines should be denoted. All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  5. 5. #2 – What are the REALTOR®’s credentials? •  What is the REALTOR®’s list-to-sold ratio? (the # of properties listed for sale and the # they actually sold). •  Do you want to hire a REALTOR® with 20 listings but they only sold 5, a 25% list-to-sold ratio ? Or a REALTOR® that had 10 listings and sold all 10, a 100% list-to-sold ratio? •  How many homes does the REALTOR® manage at one time? (will you be given minimal service or do they manage their “inventory” and time and you will be given better service?) All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  6. 6. (con’t) #2 – What are the REALTOR®’s credentials? •  What is the Number of Properties the REALTOR® has Sold within the last 3 years? (This speaks to their transaction experience. REALTOR®s can print out a ‘Sales Achievement Report’ for any given time period, ask to see one!) •  Is the REALTOR® Full-time or Part time? (Do they have another job and your home will not be their priority, nor have their full attention?) •  Are they Educated? Ask for a Resume! (the REALTOR® will be representing you to the Buyer’s REALTOR®, the Buyer, the Lender, Appraiser, Home Inspector, etc. What is their reputation in the industry? Do they take continuing education courses? Did you know you could be liable for their actions? Remember, the REALTOR® is a reflection of you!) All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  7. 7. #3 – How often will the REALTOR® communicate with me? •  By what method will they communicate? •  If technology is important to you - do they e-mail, text, Skype, ‘face time’? •  The key to most successful relationships is communication, be it personal or business. Ask how the REALTOR® will communicate with you? Or better yet, the REALTOR® should ask you “how do YOU want to communicate?” All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  8. 8. #4 – How does the REALTOR® manage their business? •  REALTOR®s are independent 1099 contractors, they are not employees of the real estate company. •  What are their Office Hours? Do they have another job? •  Do they do Personal Marketing/Networking? Do they invest in their business? If so, how and what %? •  Do they have E-fax & a Shredder to protect the confidentiality of any documents being transmitted? (Or will documents sit on the office copier for anyone to see?) •  Do they use DocuSign or EchoSign? All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  9. 9. #5 – Will my REALTOR® always represent my best interests? •  Real estate companies practice under two different business models - ‘Traditional Brokerage’ or ‘Designated Agency’. Ask the REALTOR®, you are considering hiring, which business model their company practices. Here’s why; •  If the Buyers REALTOR®, for your property, is from the same company as your REALTOR® and the real estate company practices ‘Designated Agency’, your REALTOR® continues to represent your sole & best interests (Your REALTOR® remains your ‘Designated Seller Agent’). •  If the Buyers REALTOR®, for your property, is from the same company as your REALTOR® and the real estate company practices ‘Traditional Brokerage’, your REALTOR® no longer represents your sole & best interests (‘Disclosed Dual Agency’ is required and both REALTOR®’s lose their ability to advocate for their respective clients from that point forward). All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  10. 10. (con’t) #5 – Will my REALTOR® always represent my best interests? •  An important question to ask at the time of the Listing Contract is: Will I ever be put in a position of ‘Disclosed Dual Agency’ and lose my REALTOR®’s representation of my best interests? For instance, when a Buyer looks at your property, informs your REALTOR® they want to make an offer, and asks your REALTOR® to write the contract or Purchase & Sales Agreement; a) If you agreed to ‘Disclosed Dual Agency’ in the listing contract, then your REALTOR® no longer represents your best interests. Your REALTOR® is now acting in the capacity of a ‘Disclosed Dual Agent’ (Your REALTOR® can no longer advocate for you, nor the Buyer). b) If you did NOT agree to ‘Disclosed Dual Agency’ in the Listing Contract, your REALTOR® continues to represent your best interests . The REALTOR® can still write the contract for the Buyer however merely assists them in the transaction with customer-level services only (Your REALTOR® continues to advocate for you). •  All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller William Realty.
  11. 11. #6 - Does the REALTOR® seem competent and know the local market? •  Ask for information on the average sold price, days on market, absorption rates for your local area – evaluate if the REALTOR® is knowledgeable on the local real estate market. •  A competent REALTOR® will be prepared with market information to help educate you on the market and to establish proper expectations (how long it will take to sell your home and for what price). •  Is your home located in the REALTOR® s market area of expertise? All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  12. 12. #7- What is the quality of the REALTOR®’s portfolio of properties? •  Do your due diligence- Evaluate other properties the REALTOR® has marketed for sale or has sold. •  Look on-line and via hard copy. Compare the difference between the REALTOR®s presentation materials. Evaluate how they “present” the homes they are selling (Quality of photos, Quality of text write up, Are room dimensions noted?, Any spelling errors?, Is the home marketed in an appealing manner?, Would you want to go see the house?). All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  13. 13. #8- Is the REALTOR® being honest with you regarding the price? •  Do the sold comparables validate the price they are suggesting for your home? OR are they overpricing your home so you will like what you hear & hire them? •  Should you hire your REALTOR® based on price? OR Should you hire your REALTOR® based on the services they will provide you? Can a REALTOR® guarantee you a price for your home? OR Can they guarantee the services they will provide in marketing and selling your home? All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  14. 14. #9- Is the REALTOR® in good standing with their real estate commission? •  Real Estate Commissions exist for the consumers protection. •  Contact your respective States’ Real Estate Commission to inquire if the REALTOR® , you are considering hiring , is in good standing. Are there any grievances or complaints about the REALTOR®? If so, ask the REALTOR® to explain. •  NH – (603) 271-2701 •  MA – (617) 727-2373 All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  15. 15. #10- What are your goals and expectations of the REALTOR®? •  Most successful relationships are based on both parties having the same understanding, expectations and goals. •  Discuss your expectations of the REALTOR®. •  What are the REALTOR®’s expectations of you? All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.
  16. 16. Conclusion: Have you positioned yourself for success? •  Did you ask all REALTOR®s the ‘Top 10 Questions’? •  Do you feel aligned for success with the REALTOR® you are considering hiring? Do you feel confident your expectations and goals will be met and your home will be sold? •  Have you made an objective business decision and this REALTOR® is the most qualified? Remember, this is a business transaction and perhaps your largest financial investment! •  Interview me with these ‘Top 10 Questions’ to have a professional real estate experience with a skilled REALTOR® who believes in ‘raising the bar’ for the residential real estate industry. If I do not service your geographic area, I can assist you by interviewing and finding a REALTOR® in your area. All presentation content copyright © 2012 Catherine Zerba, REALTOR®. All rights reserved. Catherine Zerba is a licensed REALTOR with Keller Williams Realty.

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