"Who Works For Who?" Pawleys Island Real Estate

Posted By Tara Melech @ Jun 21st 2012 11:17am In: South Carolina Real Estate

Who Works For Who? by Tara Melech, Professional Real Estate Advisor, Keller Williams Realty, (843) 907-8787

When you do anything real estate related, do you ever wonder who works for who? When you list your home, it is a typical practice to first look online to see what is currently for sale and who has the listings. Then, call the agent that has the most listings to sell your home. When the agent gets there (if it is the listing agent, or their assistant), they take a quick look and then have you sign a listing agreement, explaining in a very quick manner what you are signing and how you are going to work with them. What they don't tell you are the details....

First of all, they put themselves in a position that kind of makes the fact that YOU ARE THE EMPLOYER and THE AGENT WORKS FOR YOU inexplicable. They just put a sign in the yard, put your listing in MLS, pray that it sells, and then you never hear from them. Does this sound familiar? If so, the next time you want to sell your home, take the time to find out the critical steps that agent will take to have a successful outcome of SOLD!

In today's real estate market, competition is at an all time high not only because of the prices, but because the amount of short sales and foreclosures that corporations and banks own. In reality, these types of sales will be some of your toughest competition. It is unfortunate, but it is what it is. When short sales and foreclosures are so saturated throughout the market, it makes it harder to justify a higher listing price to a potential buyer. That is why it is so critical that the agent you hire have the ability, knowledge, and technological advances to be able to capture the very best details and all the goodness of your property when comparing to the properties with lower asking prices.

Capturing a target audience - an online presence is absolutely necessary to sell real estate these days. After all, it is where most buyers (and sellers) will start their search for information. So, not only do you have to be knowledgable about the property, location, local researching, and etc., but the agent also has to be able to find these buyers and capture them to be able to generate enough interest to get them into the door of your home!

Did you know that when you sign a listing agreement that there are set parameters within the contract as to how you will pay that agent, and how they will split that payment with the buyer's agent? However, there are other ways to pay an agent, and can be negotiated at the time the listing agreement is signed. You can also terminate an agent at any time the listing is in place, but be aware as to what their policy is when this takes place. If an agent is not doing what you were promised, you, as the employer, have the right to terminate. As always, these items need to be put in writing, and if justified, then you should not have a problem relisting.

The most important items that need to be discussed at the time a listing agreement is signed is not only about the property, but how you will be working with that agent, what is expected of them, and what is expected of you as the principal in the transaction taking place. The questions below may help you in making a decision to work with a particular agent:

  1. How long will it take to sell my property, and how long is your typical listing agreement?
  2. How will you communicate with me and how often?
  3. Will you be showing my property?
  4. Advertising - what do you do?
  5. How do you get paid?
  6. What type of agency or "capacity" will we be working in?
  7. Do you hold open houses?
  8. What type of online advertising do you do?
  9. What type of technological tools are available to you and me?
  10. What credentials do you have?
  11. Have you ever been sued?
  12. What do you like best about the broker (company) you work for?
  13. Tell me what you like most about selling real estate?
  14. How did you come up with the listing price"
  15. Do you consider yourself successful and why?
  16. Where do you think you need improvement?
  17. What will I get if I list with you?

Just think of it as an interview: you are the interviewer and the agent is the interviewee...

There are so many questions to ask someone when you are considering hiring them to sell your home. Why is it that the role of selling a property is not taken more seriously? After all, it is one of the biggest expenditures in life! When dealing with so much responsibility, you want to be able to trust the person that you are about to hire to be an honest, ethical, reasonable, knowledgable, loyal, professional with the right attitude and compass to be able to get your property sold for the highest possible price in the least amount of time.

If you would like more information, please don't hesitate to contact me at (843) 907-8787. I specialize in the Pawleys Island, Murrells Inlet, and Georgetown Areas and would like very much to help you sell your next property! Thank you for reading!  Knowledge is Power!  Tara Melech

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