Everyone wants to be polite, especially when meeting someone new for the first time. Most of us are taught from a young age to never hurt someone’s feelings. One of the consequences of this mindset is the tendency to avoid asking tough questions, lest someone start to feel uncomfortable. However, selling your house is no time to walk on eggshells. You need an expert by your side who can demonstrate their ability to help you get the maximum results once your sale finalizes. A successful transaction is critical, especially in a tough market where you will need every dollar you can get to move on to your next step.
That’s not to say that you need to be ruthless, but if ever there was a time to dig deep and ask a ton of questions, this is it. Here are a few things to ask your Realtor® before signing a listing agreement.
How much sales activity have you generated in the last 12 months?
This fact may surprise you, but some agents work part-time or have barely worked at all, even though they retain their license and may still have a web presence. In a market that changes by the minute, you need someone who is current, active, and with a proven track record, even in the most daunting conditions.
Looking for more advice on selling your house in a changing market? The resources below will give you some ideas:
- Refining Your Offer Strategy When Selling First House
- Best Practices for Selling a Home in Today’s Market
- Are Solar Contracts Worth it?
How do you handle a challenging market?
Fluctuating interest rates. A faltering economy. Unprecedented immigration numbers and soaring inflation. All of these things impact the real estate market, making it unpredictable at the best of times. Just look at what happened from 2020 to 2022 when the housing sales were on fire, and it seemed the demand would never stop. And yet, activity slowed to a trickle once the Bank of Canada started raising the interest rates. Then, buyers adjusted to the new normal, and the market took off again. Your Realtor® should be able to handle all situations, good and bad, to obtain the maximum results that the market will allow.
What is your plan to earn the highest amount from the sale of my home?
At the time of this writing, Canada’s population is growing, and we are experiencing a housing shortage like never before. These conditions are not expected to resolve themselves anytime soon, which puts sellers at a distinct advantage. During times like these, selling a house is easy. The question is not whether you will sell but how much effort will be involved and how much you will earn. Your agent will need a finely tuned system for setting your price, preparing your home, and marketing your listing to the most qualified buyers to get the best results for you in any market. Any flaws in the plan could result in a number that leaves you feeling underwhelmed and unprepared to reenter the market as a buyer.
What updates do I really need?
A few renovations and upgrades are critical for getting your home ready for the market. However, they also take time and can cost a lot of money. If you’re going to live in what looks like a construction project for weeks or even months on end, you want to be sure that the results will be worth it.
Your agent should be able to tell you what upgrades are worthwhile and which ones to avoid. Some updates, such as thorough cleaning and decluttering, are easy to perform and always worth it in any market. Other extensive projects should be carefully considered to determine whether they are absolutely necessary.
What level of service and support can I expect from you?
One of the biggest complaints about real estate agents is how unavailable they often become once you’ve signed the listing agreement. Selling a house requires much more than a 9 to 5 commitment, and you need someone standing by to answer your questions after hours. Before signing, it’s essential to have a clear understanding of how you will get in touch with your agent and what kind of service you can expect throughout the process.
What challenges or obstacles do you foresee when selling my home?
Sometimes, a real estate transaction is a straightforward process. But in an unpredictable market, you can’t take anything for granted, and your Realtor® should have a plan A, B, and C to cover all the bases.
How will you determine the price of my home?
Setting an optimum price is one of the most critical aspects of a successful sale. If you get it wrong, your house could either languish on the market or sell for less than it’s worth. You should not make a decision based on market generalities or emotions. Instead, your agent should conduct a thorough CMA (Comparative Market Analysis) and set your initial price using accurate facts and updated statistics. This can help generate exposure and maximum interest in your home without sacrificing a dime of its value. Depending on the market, you could see multiple offers from eager buyers, with an end result over and above your initial price.
During challenging times, many people turn to real estate investing to secure their future. If this is a path you’re considering, the resources below can help:
- Growing Your Wealth Through Real Estate Even in a Recession
- Negotiating With Tenants as a Guelph Real Estate Investor
- Could Buying During A Recession Be A Genius Investment?
Do you have a website?
In this day and age, we are often surprised at how many agents do not have their own website and instead rely on the MLS® to promote their listings. In a world where so many potential buyers begin their search online, a robust web presence is no longer a luxury. An independent website is essential to advertise your home in a format without limitations on characters or the number of photographs you can use. Your agent should use every tool at their disposal to make your listing come alive.
How much exposure can you bring to my listing?
Having a website is one thing. Getting qualified traffic to it is a whole separate challenge. No matter how beautiful your listing appears online, it does very little good if the right buyer never sees it. Before signing a listing agreement, ask your Realtor® to show you their visitor stats.
For example, a dozen views per month probably won’t garner much interest in your home. On the other hand, a few thousand visitors can translate into massive exposure that brings multiple offers and a fast sale with less stress.
Do you have questions about listing your house in the Guelph or Tri-Cities Area? We are happy to provide you with the tools and resources you need for a successful sale. Reach out today at info@gowylde.ca or call 519-826-7109 for more information
