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2019-12-01 08:44:58
What Questions Should You Ask Before Signing a Listing Agreement

John Astorino & Associates recently listed a beautiful home that had been on the market for months with another agent. When the home didn’t sell for six months, the Sellers decided to interview several new agents to list the home again.

The sellers contacted me and it was the first time I ever received a “Realtor Questionnaire” even before meeting with the sellers. I really appreciated their thoughtful and important questions. The process did make me stop and think – what questions should be asked by when starting the selling process?

Here are some of the questions the Sellers asked and our answers we provided. I’ve also added a few questions I would include if I was looking for a great agent.

How many homes did you list and sell in the last 12 months?
This one was pretty easy and straight forward to answer. We listed and Sold 20 homes in 2019. Everything we listed sold.

Are you a full time agent and do you work with a team?
I have a small team of Realtors and all of us are full-time agents. We always have a primary agent assigned to each client and that agent is chosen originally by the client. Things happen and no one can be available all of the time. Having a team of dedicated agents that can step in to assist with minor duties is always helpful.

What is your average List to Sold Price?
This is a great question! We often do a “Competitive Market Analysis” for all of our listings, but never did one on ourselves. In 2019, our average list to sold price was 100.5%! That’s a testament to our pricing strategy. Every market can change and the strategy for pricing will change with it. Under pricing a home is never a good idea. Surprisingly, in a down market, we may price a little higher since the expectation will be to negotiate any price. In an up market, like 2019, we can push the price a little, but it’s been proven in the statistics, that if you price it correctly, you’ll get more competition and the price will probably go higher. Over price the home and you’ll have less traffic from potential buyers. Price it correctly and you’ll have greater success in the first week and most likely get a stronger offer.

What is your average “Days on Market” for homes you have sold?
Again, our self-evaluating CMA shows that our average days on market was less than 17 days. Keep in mind that higher priced homes usually take a little longer to sell, and homes that receive multiple offers in the first weekend average about 5 days just to sort out the contract details. 17 days is a really good average! Your first two weeks on the market are vital to success! Selling quickly will get you the highest price and the best terms in a contract. That only happens when everything is done correctly.

What is your marketing strategy to sell our home?
We have a dedicated graphic designer on our team that focuses on marketing our listings. Social media plays a vital role these days and we hit every medium available. Facebook, Instagram, Twitter and a multitude of other Real Estate sites. We also use print marketing and an active “Coming Soon” marketing plan. We hire a professional photography company that produces all of our photos, designs our brochures and provides us with virtual tours, drone photography when appropriate and many other visual capabilities. We also bring in an interior designer to assist in staging your home. How we live and how we sell are two different looks to a home.

Do you also work with buyers?
Yes! Buyers are so important to sellers and listing agents. By working with buyers, listing agents get a better idea of how the market is changing. Buyers give us unique insights on how the market is trending. Thirty years ago agents suggested to paint the home white. The past ten years, the trend is to more neutral earth tones. Visiting new construction where builders study the trends are usually a good indication of those trending colors and staging techniques.

Once you have started the interviewing process, most of these questions should be answered by the agent without you ever asking them. The agent should ask you questions to better understand what your needs are. Timing is very important to meeting your goals. An agent shouldn’t ask you to tell them what you think your home is worth. That’s our job! Hold your cards close to your chest until you have chosen your Realtor. That’s the time to give your input on price and why you are selling.

Remember the home that we listed from the beginning of this article? Yes! We did sell that home that had previously sat on the market for the better part of a year. We can sell your home too! Give us a call and we’d be happy to discuss your individual real estate needs.
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2020-01-09 05:57:59
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2019-12-01 08:44:58
What Questions Should You Ask Before Signing a Listing Agreement

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