So you’ve decided to sell your house.
The first thing you need to find in order to kick-start the selling process is to find a great agent to work with.
They will help you to…
However, finding a great agent that is also right for your specific situation can be tough.
Question #1: How Will You Market My Home?
Ask what marketing strategies your real estate agent indents to use in order to get potential buyers to view your house.
Most agents will give you a general answer that includes things like…
All of these are great, but you want to know exactly HOW they’re going to be marketing your property.
And when it comes to marketing – emotion is key.
The potential buyer needs to FEEL a certain type of way about your house in order to make a buying decision.
What will that emotion be? How do they intend to provoke it?
Question #2: Who Is The Ideal Buyer Of My Home?
You want to see if the agent has given any thought about WHO they’ll be marketing your home to. The type of buyer for a home can be different depending on the property type, the area, the price range, and the local amenities. You want to hear a specific answer.
At the end of the day, the buyer can be anyone, but different homes appeal to different demographics more than others. If they give you a generic answer, you can consider that a red flag.
Question #3: How Will You Vet Buyers?
The best way to reduce your chances of deals falling through is to hire an agent who knows how to vet buyers.
There are many ways agents can do that.
For example they can have a requirement for the buyer to submit their pre-approval letter with their offer. Or they can call the loan officer after receiving the offer and see if the buyer’s debt-to-income ratio is good enough to obtain financing.
This information can also be used to your advantage during negotiations.
If your agent knows the buyer’s debt-to-income ratio, the buyer can’t use this as an excuse as to why they can’t come up with the money.
Working with a real estate agent who knows how to vet the buyer will drastically improve your chances of closing a great deal.
Question #4: What Are The Closing Costs?
You want to be completely aware of how much you’ll be taking home once the deal is closed.
Here’s the typical equation that will help you figure this out on your own:
Selling price – anything owed on the house – closing costs = your profits