Most of the time, most people show interest in only two agent questions: 1.) How much money can I get for my house? and 2.) How much will your commission be? Very few sellers ask questions beyond these two and usually end up hiring the first agent they come across or on the basis of appearance or gut feeling. But selling a house is way too big a transaction for that. The first conversion with an agent should be treated as a job interview with you, the seller, in the employer’s seat. When you approach it in that way, use these questions to ask your agent when selling your Northwest Arkansas home.
What is your experience?
Agents simply may not be all that forthcoming about their experience and track record, so you have to ask. A home sale (and purchase) is usually the largest, most expensive business transaction any of us will ever be involved in. Your agent, then, absolutely must have the requisite knowledge and experience. You will need an agent with enough experience under their belt to competently handle everything from listing to closing. They will also need familiarity with the area, local inventory, and local real estate trends.
Do you work with properties in this price range?
Now, while an agent may have plenty of experience, it may not be the kind of experience you need for your selling situation. So one of the questions to ask your agent when selling your Northwest Arkansas home should be about price-range knowledge, experience, and expertise. Your agent must be able to see the home you’re selling from the buyer’s perspective – and that, obviously, includes price. This kind of insight makes an agent a far better negotiator.
Do you understand the Concept of Perceived Value?
This is one of the questions to ask your agent when selling your Northwest Arkansas home many people overlook – often to their detriment. Many agents are trained only in basic pricing strategies. They are trained to advise you to always price your home at the market average sale price for the neighborhood.
However, the truth is that most homes could sell for a range of prices, depending on the buyer and how that buyer perceives the value of the home. An investor who’s planning on turning the home into a rental will value the home much lower than a family desperate to move quickly and who intend to cherish it as their “Forever Home.”
The condition of the property, updates/upgrades, and cleanliness of the home can make a massive difference in pricing. Also, the way the property is presented to potential buyers through staging the property (for the in person experience), and through photos and video (online media) will make a big difference in the “Perceived Value” of the home. And when it comes to the Final Sale Price, Perception can often be Reality.
What is your marketing plan?
No matter how much real estate knowledge and experience an agent has, without a viable marketing plan, they won’t do you much good. A sale takes marketing, so you need to know ahead of time how your agent plans to market your home.
And these days, it usually takes a lot more than sticking a few photos on the traditional listing sites. To achieve the necessary visibility for a speedy and profitable sale, your agent should be conversant with other, less-traditional marketing channels, such as Facebook and even Instagram. Also, make sure to ask whether the agent has experience with setting up virtual tours for marketing purposes because these are becoming increasingly important for buyers, especially during the current Covid crisis.
Selling your home can be a lengthy, frustrating process involving negotiations and various pitfalls. But with the right agent – one selected using these questions to ask your agent when selling your Northwest Arkansas home – it can be much smoother.