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What makes for a good listing agent? How can you determine if the agent is perfect for your needs? There are several things to consider. Of course, two of the primary concerns for home sellers are:
1. Who can get me the highest sale price?
2. Who offers the most reasonable commission?
But there are several other factors to consider.
- Be skeptical. If a realtor tells you they know how much your house will sell for, their nose may start growing. No listing agent can accurately predict the final sales price of any home. They can just provide an estimate based on comparable properties, market conditions and their sales skills.
- A good listing agent will suggest a reasonable price range and recommend something within that range, based on location, schools, home condition, comps and other factors.
- Typically, if a home is priced accurately, there will be offers within the first month. Other realtors and home buyers are always on the lookout for new listings, so if the price is attractive there should be some quick bites. Understand that a home priced too high for the market will be tougher to sell; and a home priced too low many be unappealing, as well.
- Low commission is not always best. Some of the most successful realtors never reduce their commissions. Why? Because many top realtors spend heavily on marketing and they use whatever revenue they can to promote their business and their listings. In other words - sometimes you get what you pay for.
- That said, even the top realtors may consider reducing their commission if:
- They are the agent for the buyer and the seller, so the earn double commissions for the transaction.
- The client does some of the work for the agent.
- The client provides additional referrals.
- The customer is selling multiple properties.
- The agent is competing with another realtor who offers a reduced fee.
One other factor to consider: What is the realtor's sales record? There may be a good reason why they are winning sales awards and are among the elite agents in the neighborhood. Ask around about specific agents, as well. You probably do not want to take on a listing agent who is known to cut corners, but if they have a solid reputation and strong sales record, they will likely work hard for you and provide creative ways to market your home.
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