Whether you’re relocating after a divorce or separation or because you have found a new and better job, retaining a talented real estate broker can be indispensable in helping you sell your existing house as well as helping you find a new one.
The purpose of this article is to provide you with support and guidance whether you are selling your home, buying a new one, or both. This begins with making sure that before you hire a realtor, you ask the right questions. Don’t be shy about asking lots of questions. Unless you are a real-estate-pro, there is a great deal to know.
The questions and answers will assist you in feeling more in control, centered, and confident in your decisions. This alone will cut down the stress as you transition from married life.
Do you work full or part-time as a real estate agent?
Full-time agents are likely to give you more attention. They have fewer distractions when working more than one job at a time.
How many homes did you sell in the neighborhood I’m relocating to?
This is important. Realtors that focus on particular communities are more informative (quality of school districts, crime levels, etc.) and have a more profound knowledge of the price ranges available in these communities.
How many sellers are you representing right now?
A busy realtor may be too busy to market your home if you are selling it and too busy to spend the time with you to get to know your preferences and needs if you are buying.
This rule, however, is not absolute. Some agents are very efficient and can delegate tasks to others while also attentive to your particular needs. This is why obtaining at least four references is a good idea—two from buyers and two from sellers.
Are you willing to negotiate your fees?
If the realtor says no, I recommend saying “thank you” and then go find another realtor. Everything in this business is negotiable. It’s worse than a fish market! Primarily if the realtor is representing both the buyer and the seller.
There are many ways to structure a discount: you can request that the realtor accept a flat fee rather than a percentage of the sales price. Having a realtor agree to cut a half-percentage point is more than reasonable.
Should I Ask the agent what price they believe your house will sell for?
Yes. Don’t just accept a range. Ask why the realtor selected a specific price range. The response will give you an idea of the extent of the agent’s knowledge of the area and the reasoning behind the agents’ opinions.
Remember, the most accurate way to determine a price arrangement is to have the realtor pull a comparable sale in your select location with similar square footage and the number of bedrooms.
Make sure you ask the agent for a copy of the list. Remember, this is a team effort.
Can I ask the agent to prepare a competitive report for me?
Yes! Your agent should provide you with a comparative market analysis (CMA), and you should ask for it before you choose to retain the agent.
This will test whether the agent will work hard for you even before you agree to retain the realtor. It will also give you a good sense of the agent’s knowledge and capacity to approach the potential transaction logically and organize.
What is your advertising and marketing plan for my house?
If you are selling, you want to know, in advance, the amount of time and money the agent is willing to devote to your sale.
Ask the agent how many open houses they expect to put on in a month. At a bare minimum, you should make sure your real estate agent puts on an open house for other brokers.
This is much more powerful since you are reaching more brokers and, therefore, more potential buyers.
How long must I list my house with you?
Waiting Time Can Get Expensive
The best advice is for three months or less to motivate the agent. Remember that you can always rehire the agent if you believe the agent has been working hard for you.
Make sure you request and agree in writing that you have the right to cancel the listing agreement at any time if you are unhappy with the agent. However, you cannot do this if you buy or sell the home the agent has found for you.
Do you work with stagers or presenters when you sell a home?
This can be very important depending on the condition of your house.
Stagers are experts at making an ordinary home look extraordinary. They work with lighting, paint color, and even furnishings to ensure your house presents in the best way possible.
It’s always wise to request that your agent recommend how best to show your home to viewers.
Not Everyone Loves Pets
It’s suggested you relocate your pets first. Not everyone is a pet person, and pets do leave a scent and damage the house. You don’t want the buyer to be inspecting the walls behind the couch.
How often will the agent be in communication with you?
This question cuts right to the chase. Keeping you informed helps you gauge the effort and performance of your agent.
I recommend no less than twice a week. You want to be informed of all potential offers, even verbal ones.
What will be my closing costs?
Make sure there are no surprises. Have your agent put the estimated closing costs in writing so you can better budget for the relocation.
What if I am relocating out of state?
No Trusted Connections In The New State
Suppose you must find a new home in another state where you have no friends or family. An out-of-state broker knows the residential areas and local amenities in different neighborhoods and can be indispensable in helping you find what you’re looking for in a new home or apartment.
However, it would be best if you were careful. You may find yourself dealing with a broker with their primary allegiance to landlords who often retain such brokers to find new tenants.
Verify The Boker-Client Relationship
It’s advisable to clarify the broker-client engagement upfront and put it in writing so there is no misunderstanding. You want the broker to focus on your needs rather than the commission he may receive from the landlord they may be working for.
Suppose you’re moving from a different state, especially after divorce. In that case, you will likely have many things you must complete with your former partner before leaving the state.
You probably don’t have the time to search for an apartment in an area you know very little about.
Having The Right Broker Can Really Help
Ideally, you want the broker to do the initial legwork for you before you arrive in the state to look at properties with your broker.
Make it clear that when you visit, you want to be able to spend exclusive time with your broker touring as many properties as possible.
This means your broker will need to know what you are looking for and then spend a day or two visiting these types of properties before you arrive.
This will speed the process up and clear the way for an interstate moving service to set your actual moving date.
