Finding a Real Estate Agent to Sell Your Home

Do you really need an agent? If so, who’s the right person to represent you?

Whether you’ve owned your house for five months or five or fifteen years – and whether or not you’ve ever lived in it – selling it in today’s market presents different challenges than when you purchased it.

Like many sellers, your first impulse may be to list your home for sale ‘by owner’ in the hope of eliminating commission costs and putting extra money in your pocket. That sounds good, but, unfortunately, it seldom turns out to be as easy as it sounds.

For one thing, ‘by owner’ listings simply don’t get as many viewings by real estate agents. Since most buyers in today’s market work with an agent, that means your home will be seen by fewer buyers. Fewer buyer viewings means that your home is likely to linger on the market for a longer time, which in turn makes it less appealing (agents and buyers perceive that there’s probably ‘something wrong’ with listings that don’t sell, even if your house is in perfect condition!).

For another thing, even if you seek the help of a low-budget self-selling company, you will have to figure out (among many other things) how to price your property, how, when and where to advertise and market it, how to prepare it for sale, how to qualify potential buyers, how to assure the security of your home and possessions, how to handle objections, how to write a contract that will stick, how to avoid post-sale problems, and how to negotiate on your own behalf without emotion. Of course, you will also have to keep your property in tip-top shape for the entire listing and selling period and be available at odd hours for showings.

If all of those things sound manageable, before you post a For Sale By Owner sign, consider the words of real estate expert Bernice Ross. In her book, Waging War on Real Estate’s Discounters, she explains that “Homeowners who ‘save’ commission costs by representing themselves in the sale of their home typically net 5 to 15% less by doing it themselves.”

Finding the right agent for you and your home

Okay, let’s say you’re convinced that your life will be less stressful and you’ll probably sell faster for a higher price if you use a Realtor. So how do you find the right real estate agent?

There are a number of questions you should be asking potential real estate agents:

• How long have you been in the real estate business?
• Do you specialize in a geographical area or a particular type of property?
• Do you work mainly with buyers or sellers?
• Have you sold any homes in my community or neighborhood?
• What’s the outlook for today’s housing market?
• What is ‘staging’?
• What, if any, changes would you suggest I make to my home before I put it on the market?
• Can you recommend service-people or vendors to assist me with those changes?
• What kind of disclosures do I need to make when I sell my home?
• Are there any inspections or reports I should get before I list?
• How will I establish the right price for my property?
• What is your plan for marketing my house for sale – for attracting the maximum number of agents and qualified buyers?
• How do you handle buyer objections (for example, traffic or noise issues, older appliances, etc.)?
• If I call or e-mail you, how long will it take you to respond?
• What do you do during the escrow period?
• Can you help me find a new home either locally or out of the area?
• Do you have a list of previous clients that I can call for personal and professional references?
• Why should I work with you instead of with my friend, relative, neighbor or another real estate agent?

A word of caution: naturally you want to sell your home for top dollar. In our robust and desirable Los Angeles market, you might think that a higher selling price will attract more affluent buyers. But higher-priced homes don’t get seen by more buyers – they are seen by fewer buyers and they linger on the market unsold for longer periods of time. They often miss the very best window of opportunity for sales, which occurs in the first few weeks of the listing period. By pricing your home at or slightly lower than market value, based on comparable properties, you will attract more agents, more buyers, and often multiple offers that can drive the price up over asking.

One of your agent’s most important jobs is to help you establish the right price for your property. Over-pricing does not help you, but there are many real estate agents who will agree with your top-of-the-market pricing just to get your listing. Before you agree to work with an agent, consider the agent’s recommendations and references carefully and don’t hesitate to ask tough questions!

I would love to help you sell your Los Angeles-area property – and I’m always available to provide information and to answer even your toughest questions! You can reach me at Coco@WestsideLifestyles.com or 310-278-6033.

Some areas of interest on my site for those interested in Selling in the Greater LA area: