Colorado’s current housing market is exploding and now is one of the best times to genuinely consider selling your home. Spring is a great time to put a house on the market and since it can be complicated, nothing is better than having a professional help you. When it comes to hiring a real estate agent there are two very important questions to ask.
How do you plan to make my house stand out?
It is a REALTOR’s job to list a house on the market, sure, but what extra steps will they take to ensure that you receive multiple offers and get the best deal for your home? This requires more than basic listings and database work that they typically have access to. Know their marketing plan. What is their social media presence? It’s 2018. If a REALTOR doesn’t have a strong social media presence you may want to inquire more about how they plan to broadcast your beautiful home or chat with a different agent. Understanding how a real estate agent plans to market a home is also important because it delves into their knowledge of the neighborhood, the housing market, and the overall selling process. (Other good questions to ask are about the open houses they plan to hold and if they have any other houses listed within the neighborhood.)
What is your REALTOR fee?
Real estate agents get paid via commission. Commission varies from agent-to-agent and state-to-state. A typical commission is around 5% or 6% and is split between the listing broker and the buying broker. What is important to know is that real estate agents aren’t required to charge a certain amount so that amount can be negotiable. Do your research on local agents. Learn not only what their commision is, but also what other agents are charging. You want someone with competitive rates! Find this out, as it will come into play with your budget and finances at the time of closing. Higher commissions may be due to experience, which is a crucial part of real estate. Experience doesn’t just have to be with the literal process of selling a house but can be in regards to neighborhood knowledge and any niche market your house may be in. Experience is worth the extra dollars, but again, be sure that all of the rates are competitive. The highest rate does not lead to the most experience nor does it mean that they will be able to sell your home the fastest.