13 Questions to ask an agent BEFORE you sell

Are you ready to put your home on the market? Do you understand the process and details of selling a home? Before you list with an agent, educate yourself on all the factors that will affect your profit. Be as informed as possible so you can make the best business decision. After all, the sale of your home is a business decision!

Most of us are not tuned in to the trends and fluctuations of the real estate market. Typically, we rely heavily on an agent to lead us down the most profitable path. But how do we find that agent?

This report is designed to empower you with critical information necessary to evaluate an agent's qualifications and help you identify the professional most likely to produce the best outcome for you. Start by doing some research. Find the most active agents in your neighbourhood. Look at their advertising to see how professional it is. Ask friends and family. Then, compile a list of agents.

1. The Phone Interview - Place a call to each of the agents on your list. Document how quickly they return your call. Remember that they will be returning calls to your prospective home buyers. Do an initial 'feel out' interview over the phone, so that when you meet, you will both be prepared.

2. Request a Plan - Request a complete plan of the services they can provide for you from listing to registration.

3. Evaluate Their Team - Top producers will have established relationships with bond originators, inspectors, etc. - everything you and the buyer will need from A-Z. They are there for your benefit. If they are ill-prepared to handle all the steps, you are being short-changed.

4. Detailed Report of Your Property - Request a complete report of your property, with ideas for improvements, cosmetic changes, structural repairs or anything that could add value to your property. Remember, a small investment upfront may pay higher dividends at the time of sale.

5. Alternatives - Request a report of alternatives to the sale. What monthly rentals could be achieved if you decided to keep ownership of the home? What responsibilities are attached with renting? Ask your agent to educate you about all your options.

6. Insist on Pre-qualification - Don't waste valuable time showing your property to unqualified prospects. Insist your agent pre-qualifies candidates to screen out all unwanted prospects.

7. Net Sheet - Request a complete net sheet, minus commissions and fees, showing your exact proceeds at the time of sale.

8. Marketing Plan - Ask for a step-by-step marketing plan of how your property is going to be marketed and sold. Look for innovative ways the agent employs to attract home buyers.

9. Telemarketing Efforts - Investigate the agent’s telemarketing team. Do they have a mechanism to create proactive leads and call on those prospects?

10. Mailers - Investigate the agent’s capacity to send mailers. How often do prospects receive a mailer? Is it professional? Does it motivate prospects to respond?

11. Advertising - Is it well written and professional? How many advertising channels do they utilise? They should be advertising in at least three or four: a homes magazine, community or local newspaper, garden signs and on the internet. Remember, the quality, as well as the spread of the advertising will directly influence the exposure your property will get.

12. Negotiation Strategy - Have a written, well-conceived negotiation strategy. The old adage, "You don't get what you deserve, you get what you negotiate" rings true in real estate. Insist on a sound negotiation strategy before you entertain buyers.

13. Property Transfer Process - Be sure to get a written procedure checklist. You need to know in detail how you will conclude the sale of your home. This should provide step-by-step procedures that are easy to understand and follow.

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