How do you choose a REALTOR®?
Whether you're a first-time seller or someone who has
sold many homes, there are several ways to find a local
REALTOR®:
- Use the "Find a REALTOR®" search engine on
REALTOR.com® to find individuals who actively sell
in your community.
- Get recommendations from past sellers.
- Look for REALTOR® signs in your community.
- Check the classifieds in local newspapers and
"shopper" publications.
- Look at the listings in local real estate
magazines.
In some cases, sellers elect to meet only with one
REALTOR® while other owners elect to meet with several.
Whatever your preference, there will be a number of
questions you will want to ask, including:
- What services do you offer?
- What type of representation do you provide?
(There are various forms of representation in
different states. Some brokers represent buyers,
some represent sellers, some facilitate transactions
as a neutral party, and in some cases different
salespeople in a single firm may represent different
parties within a transaction.)
- What experience do you have in my immediate
area?
- How long are homes in this neighborhood
typically on the market? (Be aware that because all
homes are unique, some will sell faster than others.
Several factors can impact the amount of time a home
remains on the market, including changing interest
rates and local economic trends.)
- How would you price my home? Ask about recent
home sales and comparable properties currently on
the market. If you speak with several REALTORS® and
their price estimates differ, that's OK, but be sure
to ask how their price opinions were determined and
why they think your home would sell for a given
value.
- How will you market my home? At listing
presentations, brokers will provide a detailed
summary of how they market homes, what marketing
strategies have worked in the past and which
marketing efforts may be effective for your home.
- What is your fee? Brokerage fees are established
in the marketplace and not set by law or regulation.
Typically, brokers who list homes are compensated on
a performance basis - that is, the broker is not
paid unless the home sells under the terms and
conditions that are acceptable to you.
- What happens if another REALTOR® locates a
purchaser? That is, who will that broker represent,
and how will he or she be paid? What disclosures
should you receive? State rules require brokers to
provide extensive agency disclosure information,
usually at the first sit-down meeting with an owner
or buyer.
- How long do you want to list your home? A
"listing" agreement is a contract that shows the
broker's obligations and outlines the terms under
which your home is being made available for sale.
The length of the agreement is a negotiable matter.