Buying or selling a home is a significant business decision. Having a trustworthy, experienced agent to guide you through that process can be an invaluable asset. How should you interview potential real estate agents to see who would be a good fit for you?
Here are the three best questions to ask a listing agent before choosing one to hire to help you sell your home:
1. How many homes have YOU sold in the last 12 months? Insist on experience.
Many real estate agents may have an impressive presentation, or share statistics on the number of homes their company sells. That's useful information, yet it is the INDIVIDUAL AGENT’S TRACK RECORD that is the best indication of the type of service and results you will receive. Many agents today have limited experience, and when it comes to pricing and marketing your home, strategically positioning your home vs. the competition, negotiating offers, handling appraisal, inspection, and repair issues, you may find yourself at a severe disadvantage because an agent with less than 10 years of experience has never been through a complete market cycle, or represented enough sellers to bring you the desired result. An experienced agent who has been selling 100+ homes a year over the last decade has a treasure chest of knowledge that cannot be duplicated. Selling real estate for over 20 years means an agent has guided clients in both up and down markets. Avoid the common trap of simply hiring a “friend in the business”, the agent that sold the home down the street, or the brand new agent who has just few years (or less) of experience - all agents are not the same, just like all surgeons are not the same. Many sellers we meet whose homes didn’t sell with a prior agent regret failing to do the research upfront the first time.
2. How many of your listings have sold vs. how many of your listings have failed to sell?
Many agents can advertise impressive numbers of homes sold, but what they don’t share is how many of their listings never sell. Here at Tampa Home Group, over the past 10 years, we successfully sell more than 95% of the homes that we list. The agent you choose to hire should have a great track record of successful home sales as opposed to a great track record of getting homes listed.
3. What is your list-to-sale price ratio?
This is a very important statistic that serves almost like an agent’s report card. The average home here in Tampa Bay sells for 97% of its list price, and many agents in the market have a track record far below that. Year in and year out, Tampa Home Group has sold our listings at an average of over 99% of list price. The 2% difference in our net proceeds really adds up to more money for our sellers. Our proven marketing plan, years of experience, and personalized service allows us to deliver these extraordinary results to our sellers.
If you have any additional questions for us about your specific situation or about the real estate market in general, don’t hesitate to give us a call or send us an email any time. We look forward to hearing from you soon.