You should never ask a magician their secrets, but I don’t feel the same way about real estate. Today, I’m going to clue you into a couple “magician’s secrets” of real estate by providing you with insider questions you should ask a potential listing agent when making your decision about who to work with.
1. What is your average sales-to-list price ratio? When you sell your home, you’ll decide on a price for it. Ultimately, you want your home to sell for at least that price, but it could also sell for less. The market average right now is about 92%, but here at the Salas Team, we actually sell with a 96% sales-to-list price ratio. But not every agent is built the same, and some agents will only sell the home for 80% to 85% of the original list price. Ask this question to make sure that your agent meets the industry standard.
2. What is your marketing strategy? For instance, do they stage the homes they’re trying to sell? You want an agent who is experienced and can tell you what a potential buyer will want to see so that you can prepare your home to sell for top dollar.
Do they use professional photography? Never settle for an agent who uses their iPhone or Android to take pictures of your home. A good agent should have someone on staff with professional equipment and and experience.
Do they have a strong social media presence and knowledge of online advertisement? In our social media-driven society, it is so important to be up to date on the latest internet technologies. You can access demographic information to predict who is most likely to be looking for a house. They should have a properly segmented database, and use Facebook and Google advertising to their best advantage.
Do they do circle prospecting? Your agent and their team should be calling around the neighborhood to ask if anyone is thinking of buying a house. This is critically important in a market with tight inventory. You want an agent who will proactively market on your behalf.
3. What is your success rate? Look for key indicators of success, such as how many houses they’ve sold. The average agent sells about three homes a year. The Salas Team, however, has repeatedly sold 150 homes a year. An agent who sells many homes has the experience to be able to advise their client in the best way.
4. Are you part-time or full-time?The popularity of real estate shows like those on HGTV has brought a lot of people into the market thinking that it’s a flexible career. But a part-time agent isn’t good enough for you. This is, in many cases, the biggest financial transaction in your lifetime, and you’ll want someone who knows what they’re doing and can devote their full attention to your needs.
Asking these questions is a great way to get a look at how experienced the agent is and whether or not they have the level of expertise you need in order to satisfy your goals.
If you have any questions for us, we’ll be more than happy to give you answer. Feel free to reach out to us by phone or email.