10 Questions Sellers Should Ask – Consumer Guide

When you’re ready to sell your home, how do you find the right agent to work with? Who is the best fit for your needs?

Here are ten questions you should ask when selecting an agent:

1. Are you a REALTOR®?

When you work with a REALTOR®, you are working with a professional guided by ethical duties under the REALTOR® Code of Ethics, including a pledge to protect and promote their clients’ interests.

2. What services do you provide?

Your agent can help you with marketing your property, interfacing with buyer’s agents, handling showings and open houses, negotiating the purchase agreement on your behalf, assisting throughout the closing process, and more.

3. Are you familiar with this market and my area?

Your agent must be licensed in the state where you are selling your home. But they should also have the market knowledge to facilitate a successful transaction. While prior experience with the market where your property is located is not a requirement, local knowledge could help your agent develop a strategy that resonates with local buyers.

4. What is included in our listing agreement?

At the outset of your relationship, you and your agent will sign a listing agreement that says the agent can represent you and market your property to potential buyers and their agents. They will provide market analysis for your area and help you establish the sale price for your home. It will also lay out the type of professional representation your agent will provide and what they will be paid for those services. Remember that agent compensation is fully negotiable and not set by law.

5. Show me how you arrived at your suggested list price for my home.

Setting a strong initial asking price based on your agent’s knowledge of the market is critical. It will influence if you capture buyer interest and secure the best possible offer for your property. Your agent should conduct market research to determine an appropriate price that both attracts prospective buyers and ensures you receive a fair market value.

6. How will you market my home?

Agents use a variety of methods to reach potential buyers, and they should walk you through the pros and cons of each option. For example, one tool agents use to market properties is a Multiple Listing Service (MLS), an online platform that compiles home listings from brokers. It reaches the largest possible pool of buyers and will potentially attract the best offer.

7. How do you attract potential buyers?

Many strategies help attract potential buyers. For example, offers of compensation—when you or your agent compensate another agent for bringing a buyer to a successfully closed transaction. Seller concessions are another that covers certain costs associated with purchasing a home for the buyer. Either or both of these may lead to a better or faster offer by reducing out-of-pocket and upfront expenses for prospective buyers.

8. What do I need to do to get my house ready?

To prepare your home for listing, your agent may suggest investing in necessary repairs or other upgrades that may help enhance buyer interest for the property.

9. How will you vet potential buyers?

An important part of selling your home is ensuring that prospective buyers are financially prepared to follow through with their offer. Discuss with your agent how they plan to evaluate prospective buyers, which may include requiring a pre-approval letter to be submitted alongside the offer.

10. Ask for references!

Always ask for references of past clients that you can speak with. Most agents are happy to connect you with satisfied clients they have worked with in the past who can speak to their experience.

Practices may vary based on state and local law. Consult your real estate professional and / or consult an attorney for details about state law where you are purchasing a home. Please visit facts.realtor for more information and resources.

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