1. Asking the wrong questions. The number one question people ask me is: How long have you been in the business? Now in most industries this is a valid question. Because with experience comes knowledge, BUT and there is a big but, in a sales related business knowledge comes from actual transactions. Did you know that the average real estate agent in the GTA does approx four transactions a year? Yes, that is right four and a shocking amount of Realtors sell only one house/condo a year. Do you want to be that one sale? That being said, the question you should be asking is How many transactions have you completed in your career in Real Estate? and How many transactions do you complete on average per year? If the realtor you interview says more than 15 then they are on the more experienced side in the industry. Transactions = Knowledge = Success. In short, make sure you are hiring an experienced full time realtor to sell or buy one of the largest assets of your life.
2. You get what you pay for. Many sellers today believe the cheapest commission wins. The problem with that philosophy is that someone asking full commission and someone asking the lowest can not and will not give you the same quality of service and care on your listing. It isn’t possible. I am not saying that you have to hire a Realtor with the highest commission rate. But do you want to hire a Realtor that can not even negotiate their own commission rate? How will they negotiate your deal? How will they possibly be able to get you the highest/best price for your home if they cannot even negotiate their own livelihood. You cannot afford to penny pinch on commissions and potentially leave thousands on the table with a realtor that cannot fight for you and your home. As well, many of the budget Realtors as known for just that, the minute you put their sign on your lawn you are sending a message that you are cheap and so is your home. Again, you don’t have to hire the highest commission Realtor but certainly do not higher the lowest commission offered to you. Ensure you get the best all around service/care, you can’t afford not to.
3. Houses Don’t Sell Themselves. Does your Realtor know anything other than real estate? I can’t tell you the number of agents I know that have zero knowledge on marketing or how to market themselves let alone a home. They have no sense in terms of staging, print vs online, SEO, PPC, Banner ads, Social Media…etc. Writing great listing remarks is just as important as being able to price the property accurately. Marketing as a whole sells your home. A potential buyer will make their decision on whether they want to see your home within seconds of seeing it online. What is displayed there matters. So again, I ask does your Realtor have any knowledge/experience in Marketing? This is an absolute MUST. Do not make the mistake of hiring just a person can talk. Can they do it all! the ALL is crucial to getting top dollar. A little advise…If they talk about print ads in newspapers or magazines, run! They have no idea where the potential buyer is actually going to come from. Make sure the Realtor you choose has extensive marketing knowledge.
So what it all comes down to is, Get a second opinion. You should always interview 3 Realtors. Get an understanding about what each of them can offer you, how they will sell/market your home and their track record. Mistakes in this business are expensive.
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