Before you hire that Realtor® to list your home, ask these 4 important questions:
- how many listings does the agent currently have
- how long has the agent had those listings
- of the homes the agent listed and sold, how close to the listing price did the home sell for
- how long did the homes that the agent listed sit on the market
If the agent has 10 listings that have been on the market for over 100/300 days, this should raise big, bright, red flags for the home owner. Bells should go off because their home is about to be added to that long list of homes that are not selling. If the agent’s list price to sold price is drastically off ten thousand dollars or more, what this tells the home owner is that the agent doesn’t know how to price homes properly. Basically, they just guess or don’t care. These are important things every home owner should ask the agents they are interviewing to list their home. So what if the agent’s signs are all over your neighborhood, call someone else because you are about to become another advertisement for this agent who is not selling any homes. Hey look, if a home owner really needs to sell, eventually the home will sell whether it takes a year or more, lower the price enough and anything will eventually sell but now the home owner got less than market value because it sat for so long.
A good agent is not afraid to be honest with a home owner during the interview. A good agent is not afraid to say no to a listing and walk away. A good agent prices the home properly and gets the home sold in the quickest amount of time possible. Sometimes home owners are not ready to accept the fact that selling their home has nothing whatsoever to do with the improvements they made over the years but more to do with the area and what other similar homes like their home recently sold for but a good agent knows this, is able to provide the information to the home owner to substantiate their recommended listing price and is professional enough to tell the home owner they are the expert and walk away.
Don’t let your home end up in the huge black whole with all the other homes that agent is not selling.
Renée Porsia is an Associate Broker with Prudential Fox and Roach and published author. Renée Porsia services The Main Line, Philadelphia, Bucks, Montgomery Counties and New Jersey. If you are thinking of listing your home on The Main Line, Philadelphia, Bucks or Montgomery Counties or in New Jersey, Renée can be reached at 215-669-0589 or @ firstname.lastname@example.org.
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