How to Choose a Listing Agent

When choosing a listing agent for their home, the biggest mistake home seller in Brampton make is selecting one that offers the best price and commission.

A seller might at first glance ask “What?” Are you nuts?” Because sellers are looking for the highest price and the lowest commission. These criteria are not relevant to hiring a competent agent, and in many cases they may be completely irrelevant. Let’s examine why.

The Key Takeaways

• Do not choose your listing agent solely based on the highest price for your home or the lowest commission.
• Ask specific questions about the services of your agent in marketing your property.
• When choosing your listing agent, it is important to consider education, experience, honesty, as well as other factors.

The highest suggested list price

Agents cannot tell you the price of your home. It is false to claim that agents can tell you how much your home will sell for. An agent will show you comparable sales and pending orders as well as active sales. You can choose the sale price and a buyer will confirm that it is correct . A buyer agent will be able to suggest the price that will draw a buyer. It is up to the buyer to decide where it takes them.

Although choosing a listing price can seem daunting at first, this is a good indicator that it is possible to choose a fair listing price if you do your research well and work with an agent who is competent. These are some things to consider when searching for an agent.

• Agents may alter the truth to get the listing. Agents can’t guarantee the sale price of your listing, so the agent who recommends the highest price may not be truthful. Ask the agent for numbers to support the suggested list price. This could indicate a problem if the agent doesn’t have stats or if the sales are in a different area.
• A listing agent should be able to give you a range in prices. The range is determined by many factors, including location, market temperature, and home improvements.
• Pricing is an art. You will likely receive an offer if the home is priced correctly. It might not be valued correctly and you may not get any showings. You’ll have to lower the price so buyers don’t wonder what’s wrong.

In 2019, closing a home took on average 40 to 48 days depending on the month. If it takes longer, it is most likely that your price is too high.

Do you choose an agent based on commission?

All real estate agents differ. Each agent has its own marketing strategies and advertising budget. You might be able to reach more buyers if you choose an agent who has a large advertising budget. This is ideal as it increases your chances of getting a great offer.

Why would an agent accept a lower commission than a competitor? A broker or real estate agent might offer a discount on a real-estate fee . It’s sometimes the only way an agent believes it’s possible for them to succeed in a competitive industry. They can’t compete with the other agents on knowledge, service, negotiation skills, or both. Ask yourself why an agent is only bringing a low fee. Are they desperate for business? Before you commit to working with an agent, ask these questions.

Sometimes full service agents will negotiate lower commission in special circumstances like:

• You are buying and selling a house simultaneously, allowing both transactions to be handled by one agent.
• You are willing to do the advertising and marketing legwork and pay all expenses related to the sale.
• You will refer more business to the agent.
• You are selling more than one property.
• You don’t have the equity to pay the full commission.
• You are accepted by the agent as a pro bono matter.
• Unless the agent matches a competitor’s fee, the agent will lose their listing.
• Agents want the signage (exposure of traffic) more than charging full commissions.

If you are interviewing agents offering similar services and can’t decide between them, ask for a track record of each agent’s original list price, final sales numbers, and other information. The odds are that the lowest-fee agent would have more price reductions, and more days in market (DOM).

Consider hiring an agent who has experience in closing difficult-to-sell properties if your home is located within a challenging neighborhood.

Agency Marketing: The Value of Agency Marketing

Marketing is the lifeblood of a good agent. Properly publicizing a property is key to securing a sale. Ask for a copy of the marketing plan. Ask specifically what the agent’s plans are for selling your house. Here’s a guideline of what you can expect from an agent when selling your home:

• Professional signage that includes an agent’s mobile phone number
• A real estate lockbox
• Daily electronic monitoring of lockbox accessibility
• Follow-up reports on buyer shows and feedback to seller
• Previews for brokers
• Broker and office preview incentives
• Staging advice
• Targeted digital marketing
• Only advertise in your local newspaper if you have the right to.
• Multiple listing service exposure with 36-plus professional photos
• Virtual tour options
• Distribution to major sites
• If necessary, four-color flyers
• Buyers can get financing flyers
• Minimum of two open homes are required, provided the location is suitable for the job.
• Direct mail to your neighbors and out-of-area buyers/brokers
• Exposure at Board of Realtor Meetings
• Feedback to sellers regarding buyer sign calls and buyer shows
• After 30 days, a new comparative market analysis (CMA).
• Email feeds for new listings that are competitive
• Check out the latest news about neighborhood trends and sales

Don’t forget that no single tactic can sell homes. Combining all these techniques is what sells homes.

What Characteristics Make a Good Listing Agent?

Your listing agent will keep you in touch for at least a month. You should choose an agent that you feel comfortable with and who is easy to talk to. These are the qualities that sellers want in an agent.

• Experience: An agent who has sold many houses in the past and learned from their mistakes elsewhere is a good choice.
• Education: Learn more about degrees and certificates.
• Honesty Trust your instincts. Agents should appear sincere.
• Networking This is an people-based business. Agents have reached out to other agents and some homes are sold.
• Negotiation skills You need an aggressive negotiator and not someone who wants to sell you something.
• Communication is key: Sellers emphasize the importance of communication and availability.

Ask for a personal guarantee. Don’t hire an agent who won’t give you a guarantee of performance or remove you from a listing if you ask.

Frequently Asked Questions (FAQs).

What is the fair commission for real estate agents?

The typical real estate commission is between 5% to 6% of the sale price. This total is split equally between the seller’s and buyer’s agents. If there is no buyer’s representative involved, or if you do more legwork when selling your home, you might get a lower commission. This range is common for most agents.

How can I calculate the price of my house for sale?

Your final decision on the price of your house will be made, but an agent can assist you in making that decision. To help you reach a price that attracts offers, they will pull comparable sales, talk about current market conditions, and look at any improvements to the house.

Can I sell my house with no agent?

There are two options: ” for sale directly by owner” or ” without an agent. If you choose this route, however, you will need to hire an agent. This involves selling comparable properties, listing your property, showing it, marketing it, and negotiating the final price. To ensure there are no legal issues during the sale process, it is a good idea to consult a lawyer.