Move-Up Buyers Information
How to Choose an Expert Wake County Listing Agent to Sell Your Home
On the Internet, you will find plenty of recommendations on what kind of questions you as a home seller should ask a Realtor during a listing interview. As someone who has sold over 6,000 homes, I personally believe every seller asks the wrong questions. Here is the list you will commonly see given to sellers to use during interviews of potential Realtors:
- How many years have you had a real estate license?
- What is your average list price to sales price ratio?
- What is your average days on market?
- How many homes have you listed that failed to sell?
- Where will you advertise my home?
- Where are you ranked in sales volume?
These questions are all looking back in time (past history). Unless each Realtor answers these questions using the exact same time period, exact geographical comparison and exact same price range of homes, the numbers really mean nothing. Even if the comparison was exact, the numbers are still old because they are drawn from historic data and the market is always changing.
You are selling now in this market, not 12 months ago. The market is always changing because homes are being listed and sold every day. So let’s look at a few of these questions and why they will not give you what you really need to know:
Why You Should Avoid Asking These Questions to Wake County REALTORS
Number of years licensed does not give you the answer you need to make a good decision
A Realtor could have a license for 20 years. This doesn’t mean they have consistently sold houses for 20 years and it also does not mean they are experienced in the listing side of the business.
Average list price to sales price ratio does not give you the answer you need to make a good decision
Average list price to sales price is just an average and you have no guarantee of what data they used to pull that number. It will also depend upon price range and location of those house used in comparison. If some of the houses listed were for investors who had tenants that would not allow showings, this would skew the number.
Also, what price range is being compared? If one agent has homes listed below $200,000 and the other agent has higher price ranges, the number will again not be equal because the higher your home is in price, the fewer buyers there are that can afford to buy it. And, here is the big one, did that number include seller concessions or did it not? Numbers make us feel safe because we believe numbers don’t lie but, they can. Depends upon what you are pulling.
Who says they are number one?
With a little creativity in marketing. everyone can be #1 at something. #1 one in service, #1 in this one area of town, #1 in the month of February. See what I mean?
The Questions You Should Ask Your Listing Agent
I could go on telling you why all the other questions they tell you to ask Realtors really do not give you the real time answer you’re seeking but I will not bore you. Let’s move on to the two questions that tell everything you really need to know when hiring a listing agent that will get the job done for you.
The real secret sauce of finding the most experienced, knowledgeable and successful Realtor to sell your home is found in these two simple but powerful questions.
- How many houses do you currently have for sale?
To sell fast and for top dollar you need a lot of buyers. A Realtor that has a lot of homes for sale and is aggressively marketing and promoting those homes, will also have a lot of buyers. Why? Because buyers follow houses and advertising of homes for sale is what captures buyer’s attention to see your house. Therefore, a large inventory of homes for sale, a lot of great marketing and marketing response time to all inquiries will produce the most number of buyers for your home.
Some sellers say: “You have a lot of listings, I am going with a smaller agent because I am afraid you are too busy to give me and my home any attention." Here are the facts: a small agent does not sell enough houses to make enough money to advertise your home and because they do not sell a lot of home they also lack experience to navigate you to your goal. Response time will also be delayed because no human being can be in two places at one time.
A busy Realtor that sells a lot of homes, may not be able to talk to you every day but you can rest assured they are talking to a lot of buyers every day which is exactly what every seller needs the most to accomplish their goal.
Now here is the most powerful question to ask that is going to guarantee your house is sold and also how fast. Isn’t that what every seller really wants to know?
- How many of your listings are currently under contract? Meaning they are sold pending closing.
The bigger the numbers are to these two questions, the better your odds are of selling fast, for top dollar and with the least amount of stress because of the experience that comes with those numbers.
Real Time Questions Matter When Selecting Your Wake County Listing Agent
These two questions are both real time. You are entering into this market. Not a market of 12 months ago.
You’re selling now so you need now information. Here’s how it works…
Realtor 1 answers your power question with the following: I have 50 listings and 10 are under contract. Wow that agent has 10 closings and 10 pay checks coming soon. Sounds pretty good. BUT, absorption rate (also known as your time on market) with this Realtor is 5 months. How do you feel about that now?
Realtor 2 answers your power question: I have 50 listings and I have 42 that are under contract.
Your time on market with this Realtor is around 30 days. Also, because they are handling more properties they have more experience and they have more money to spend on marketing.
So this begs the question, why would two Realtors in the same market have such a drastic difference in results?
The answer is simple: One Realtor is better at helping their clients prepare their home for sale, better at helping their clients price correctly, has advanced advertising to reach more buyers faster, has systems in place for follow up and meeting deadlines, and they are skilled at negotiating to bring buyer and seller together.
The more experience you hire, the less stress you will have putting all the time sensitive puzzle pieces together.
Ready to Answer Your Most Pressing Wake County Real Estate Questions
We Here at Linda Craft & Team would love the opportunity to assist you with all of your move-up home buying needs. Contact us today to start a conversation with you about how we can effectively represent you on the local housing market.