Five Questions To Ask Your Real Estate Agent

By Author: Chuck Harris
Total Articles: 81
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Thinking about selling your house without using one of the best real estate agents in your city? Even worse, are you considering trying to sell your house FSBO? Don't make that mistake, it could cost you valuable time and money. Instead, take the time to find the best real estate agent, who will be able to effectively stage, photograph, market and sell your house in a timely manner. So, how do you know if you're using the best real estate agent possible? It's easy, ask the real estate agents you interview the following questions:

1. How long have you been a licensed real estate agent?

There are thousands of new real estate agents entering the field of real estate every year. It's frequently the home sellers looking for a bargain that end up using a newly licensed real estate agent. New agents typically offer to reduce their real estate commission to attract customers. Don't fall for this trick. To ensure that you're working with a top REALTOR®, go with an agent that's been licensed for at least five years.

2. How many homes have you sold?

If the answer is less than five you should run! ...
... Most of the top real estate agents in any given market have sold at least 50 homes. It's not uncommon for the best REALTORS® to have sold 200, 300 or even more homes. We recently talked to a real estate agent in Minneapolis that sold over 1,000 homes during his career. The more homes an agent has sold, the more experience he has with home pricing, marketing, negotiations, repair issues, title problems, bank negotiations and short sales. You don't want to choose a real estate agent who is learning as he goes. You want an agent that has already learned from past experience as a Minnesota Realtor.

3. What is your focus in the real estate business?

Real estate agents specialize in all sorts of things, so make sure you choose a real estate agent that is suited for your particular set of circumstances. Do you need a buyers agent, sellers agent, short sale specialist, luxury homes specialist, neighborhood specialist, investment REALTOR®, etc. Choose the wrong agent and you could be stuck with a real estate agent who doesn't understand your situation.

4. What is your real estate commission?

This is frequently a touchy subject for home sellers. Historically, real estate agents have charged a 7% real estate commission for home sales. What you need to remember is the sellers agent will pay at least 2.7% of that commission to the buyers real estate agent. Depending on the arrangement the agent has with his real estate broker, he might pay 50% of the remaining commission to his broker (employer). From what's left he also had to pay the marketing expenses associated with selling the property.
There are some top real estate agents who are offering reduced commission rates in the 6% to 6.5% range, but don't expect to find the best real estate agents in your area offering to sell your house for a 5% commission. If you want to pay 5% that's fine, but don't expect full service.

5. How connected are you?

Many of the best real estate agents today are available around the clock. Text messaging, Blackberries, Iphones, Ipads and cellphones allow REALTORS® to stay connected to their clients wherever they are. Find out what your real estate agents typical response time is to text messages, email and phone calls. If the real estate agent isn't getting back to you in a timely manner, then there is a good chance they're also not responding to potential buyers.

By asking your real estate agent these five questions you should ensure an enjoyable home selling experience. If everything goes well, the same REALTOR® will be able to assist you in finding your dream home. Minneapolis real estate agents offers a wide range of properties for sale.

If you're looking for answers to your real estate questions, you can visit the real estate forum to have your questions answered for free by professionals in the real estate business. You can know more at www.agentsranking.com.

Author bio:

Chuck Harris is the founder of Agents Ranking; a Minnesota company that helps home buyers & sellers throughout Minnesota connect with the best real estate agent for their particular needs. It provides a unique free consulting service to those who want the best Minnesota REALTOR® possible. Know more about Minnesota realtors at www.agentsranking.com