Selecting the right real estate professional can be one of the most important decisions you'll have to make once you've decided to sell your home. They are the professionals that will be able to offer you the best insight into the real estate market in your area and may be able to get you a better than expected price. But, it's important you know what you are getting into as this individual will be privy to a great deal of your personal information and you will be placing a lot of trust in their hands. Here are 6 important questions you need to ask before you hire a New Jersey real estate agent.
6 - How Long Have You Been in the Business? Can You Provide References?
It's important to know how much experience your agent has in the business and what kind of contacts he or she will be able to put into play on your behalf. On the flipside, a newer agent with less experience may be able to offer you more of the one-on-one time you crave and be able to answer questions as they come up. References will allow you to gauge the unbiased experiences of the agent's previous clients and also serve as an indication of the experience you are bound to have.
5 - What Specific Strategies Do You Have in Mind For Me?
Do they have a plan to sell your home or find you a new home? They should be able to demonstrate a specific strategy that shows they are able to cater to your needs specifically. This can be a good indication of how invested your agent will be in your project, and how hard he or she will work in order to achieve your ideal outcome.
4 - What is Your Average List-to-Price Ratio?
The list-to-price ratio tells you what percentage over or under the list price a deal closes at. How often has this agent been able to deliver the goods? This ratio gives you an idea of how often the agent has been able to deliver on a purchase price that is lower than the asking price. This should be taken with a grain of salt as market fluctuations and buying/selling conditions may have a significant impact in some cases. But, it can be a great indicator of an agent's long-term track record.
3 - Are You Able to Recommend Other Professionals?
How connected are they in the area? A good real estate agent should be able to recommend quality professionals in related fields that can help you in other areas; this can include home inspectors or mortgage brokers. This serves the dual purpose of showing how well connected and established they are in the community and also provides an opportunity to get feedback from other professionals.
2 - What Qualities Separate You From The Competition?
When deciding on a real estate agent it's useful to know what kind of edge or experience they can leverage in your favor. Do they specialize in the kind of home you are looking to buy or sell? Condo, luxury home or downtown loft. Also, do they have a great deal of experience selling homes in the neighborhood you are interested in? They may be privy to some inside information or have intimate knowledge of the market in that region.
1 - Do you Work as Part of a Team or By Yourself?
Real estate agents work in a number of different ways. Some agents work independently while others will work as part of a team, either under their own name or a team banner. But, it's important to know who you will be working with specifically. Is it going to be the agent himself, or are you likely to be relegated to a less experienced agent or an assistant? Related to this, it's important to know how many clients your agent will be taking care of at the same time. Will he have enough time to take care of your concerns or answer any questions that may arise?
These tips are intended to help you get a feel for the type of person that will be representing you when you go to buy or sell your home. It's essential you have confidence in your agent's ability to get the job done. Your personal impression counts for a lot as, chances are, if you don't like him or her, then someone else won't either.