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Do you have a performance
guarantee?
If I am not satisfied with your performance, can I terminate our
listing agreement?
In the heavily regulated world of real estate, it can be
difficult for an agent to offer a performance guarantee. If your agent does not have a guarantee, it does not mean they
are not committed to high standards. Typically, he or she will verbally outline
what you can expect from their performance. I appreciate the importance of
win-win business relationships: the agent does not benefit if the client does
not also benefit.
How will you get paid?
How are
your fees structured?
May I have that in writing?
In many areas, the
seller pays all agent commissions. Sometimes, agents will have other small fees,
such as administrative or special service fees, that are charged to clients,
regardless of whether they are buying or selling. Be aware of the big picture
before you sign any agreements. Ask for an estimate of costs from any agent you
contemplate employing.
How would you develop
pricing strategies for our home?
Although location and condition affect the
selling process, price is the primary factor in determining if a home sells
quickly, or at all. Access to current property information is essential, and
sometimes a pre-appraisal will help. Ask your agent how they created the market
analysis, and whether your agent included For Sale by Owner homes, foreclosed
homes and bank-owned sales in that list.
What will you do to sell
my home?
Who determines where and when my home is marketed/ promoted?
Who pays for your advertising?
Ask your real estate agent to present to
you a clear plan of how marketing and advertising dollars will be spent. If
there are other forms of marketing available but not specified in the plan ask
who pays for those. Request samples or case studies of the types of marketing
strategies that your agent proposes, such as Internet Websites, print magazines,
open houses, and local publications.