5 Important Questions to Ask When Interviewing An Agent

1. How has the real estate market changed in the past few months?
   A knowledgeable agent should be able to tell you what’s happening in the real estate market, not just in the general Prescott area, but also specifically in your own neighborhood. How many homes are currently listed for sale in your neighborhood? How many sold in the past month? In the past 3 months? How long, on the average, are homes staying on the market? A knowledgeable agent should be able to give you detailed information about these types of things.
2. What will you do to help me price my home correctly?
   It’s okay for an agent to ask you what you think your home is worth, but in the end isn’t it what the buyers think your home is worth that’s going to determine how much you’ll be able to sell it for? Ultimately, it will be up to you to decide at what price to list your home, but that should be an informed decision. In other words, the agent you’re interviewing should be able to show you “comps” in the area. These should be homes similar to yours in age, condition, and square footage that have sold within the past 3 months, if possible. The agent should also be able to give you a list of all the homes currently on the market in your area and their prices. Lastly, he should be able to explain a pricing strategy that will enable you to sell your home in the least amount of time for the best possible price. Don’t allow an agent to ask you what you think your home is worth and then say, “I believe I can list it for that amount,” without showing you the figures that support that list price. You can list your home at any price you want, however listing your home at the correct price is what will enable it to sell in a reasonable amount of time.
3. How will you market my home?
   Besides pricing your home correctly, marketing is the most important aspect of getting your home sold. Of course, the MLS (Multiple Listing System) is the most valuable tool an agent has by which to market your home, and he should take full advantage of it. Every other agent in town, along with their clients, will be viewing your home initially on the MLS. Will this agent market your home extensively on the MLS by taking at least 10 flattering photos of your home? Will he add a virtual tour to further promote your home on the MLS and Realtor.com? What other Internet sites will feature your home? Will he place ads in the local newspaper and area real estate guides? Have the agent show you samples of other homes he has marketed.
4. How often will you update me on the progress of the sale of my home?
   It’s nice to know what’s happening and not be “left out in the dark”. The agent should be willing to give you copies of the ads he’s running and other efforts he’s making to market your home. He should also be getting feedback from other agents and their clients after they’ve viewed your home. And most importantly, he should pass this information on to you in a timely manner.
5. What will you do to help me negotiate the contract and see to it that the sale closes escrow?
   Contract negotiations can be complicated. Does this agent have experience in helping clients negotiate the contract? Once the offer has been accepted and the transaction is in escrow, there are things like appraisals, Buyer Inspection Notice/Seller Response notices, inspections and walkthroughs, etc. Ask the agent to explain his services during this period.