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July
31

Last month, I wrote about what you should do if you're not seeing eye to eye with your Realtor. The truth is that the easiest way to avoid this scenario is to find the right Realtor in the first place. But with so many agents out there, how in the world do you choose one to sell your home?

My advice is to do your homework, and that involves interviewing the agent during the listing appointment. Some of the questions below have no right or wrong answer but will help direct the conversation and give you a better feel for interacting with the Realtor. Get the answers to these, and you'll be well on your way to a great experience selling your home.

1. Are you a full-time Realtor and how long have you been selling real estate?

This is one of the most important questions you'll ask, because you want to work with an agent who is full time. So much of real estate is about timing and opportunity. To take advantage of those, you've got to be available when the phone rings, whether it's during the workday, at night or on a weekend.

There's no right or wrong answer to "how long have you been selling real estate?" New Realtors aren't bad agents; they're just inexperienced. But especially if you anticipate having trouble selling your house or you're in a complicated situation, you need to hire someone who has enough experience to have seen many kinds of transactions. I'd recommend an agent with at least three to five years' experience.

2. How's the Roanoke Valley real estate market?

You'll need to do a little research to know what to expect for this answer [the Roanoke Valley Association of Realtors posts sales statistics each month]. Some things in general: Yes we have peaks and valleys, but the Roanoke Valley market almost never sees the kinds of extremes we sometimes see in bigger markets. Also, the Roanoke-area market is very much about localities and neighborhoods. In answering this question, a good agent will be able to drill down and talk about the area where your home is located.

3. How do you arrive at a list price (and why is it higher or lower than another agent's)?

The agent should conduct a comparative market analysis to arrive at a list price. This involves considering all the particulars of your home against comparable properties in your area that have recently been on the market.

If you interview multiple agents, compare their prices and ask for an explanation of the difference, especially if it's more than 5 percent. And while there's room for negotiation based on your particular circumstances, if he's done his research, the agent should be pretty firm in his judgment about price. Remember, the highest price is not always the best.

4. How long will it take to sell my home?

All you're looking for here is an honest answer based on experience and current market conditions. Obviously, no Realtor can predict the future, but a good agent will tell you frankly whether or not she thinks your house will sell quickly. And remember, if it sounds too good to be true, it probably is.

5. What are the problems with my home?

See No. 4. You want honesty here. There's no such thing as a perfect property for every buyer. The agent should be ready with a list of potential barriers to sale. He should also provide you with advice on improvements that should be made or staging that needs to be done.

6. Do you have experience in my neighborhood?

This is especially important when it comes to marketing and pricing. Part of selling a home is selling the neighborhood, so you want to work with an agent who is familiar with your area's character, schools and amenities. From a pricing standpoint, a Realtor who has sold homes in the area will have insight into what price buyers are willing to pay for homes in the neighborhood.

7. How will you market my home?

Strong agents will have a multifaceted marketing plan that gets your property in front of every potential buyer in the market. That certainly involves the MLS listing, but these days it should also include the agent's own website, larger real estate sites and social media.

8. How will you communicate with me?  

This is big. If you call a Realtor to set up a listing appointment and don't get a prompt response, that should be a clue. You and your Realtor are going to be talking a lot -- or at least you should be. Talk to the agent right out of the gate about your preferred method of communication and how soon you should expect a response to questions and concerns.

9. Can you refer me to a lender?

An experienced Realtor has a vast network of lenders and other real estate professionals. For everything that requires a third party, she should have a list of trusted colleagues.

10. What is your fee?

In the Roanoke-area market, Realtors usually work on commission. Negotiate that right up front so that no one has questions when it's time to close.

11. Will you provide references?

The only acceptable answer here is "Yes!" Any agent should be willing to provide you with references. Ask the client how responsive the Realtor was to your needs and how he handled any bumps along the way.

If you're ready to list your home, I'd love to talk more with you about the services a good Realtor provides. Contact me anytime at (540) 793-0442 or rpayne@mkbrealtors.com to set up an appointment.

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