[dropcap]P[/dropcap]eople always talk about a home being the biggest purchase you’ll ever make. They seem to forget the opposite is true too. It will be the most expensive possession you ever sell, so you’ll want to maximize your profits when the time comes.
I’m guessing it has finally come now, so you’ll need to approach it the right way. For starters, there are certain questions you should ask your real estate agent. We’re going to cover a few of them before you have a chance to forget.
Growing and Declining Areas
Even if you’ve lived somewhere for a long time you won’t really know what is happening. Real estate agents are on the front line every day, so they’ll know whether an area is going to grow or decline over the years.
If the area you live in is growing it might be worth staying there for a few more years. When it’s heading downhill you’ll want to sell fast. Ask your agent what they think even if you don’t heed their advice.
Comparative Market Analysis
You need to ask your real estate agent if they can give you a CMA (comparative market analysis). It basically gives you a lot of details about the homes in your local area, which you’ll be able to study in-depth.
You’ll know how many homes are for sale in your area. It’s good to know everything about your competition. You will know how much buyers are paying for homes. All the information might come in handy.
Modern Ways of Selling Homes
Everyone sold homes in the same kind of way a few years ago, but times have changed. You want to know how an agent is going to sell your home. Will they list it on websites and post lots of beautiful photos?
The way they promote your home will have an impact on how fast it sells. Give preferential treatment to anyone who mentions 3D virtual tours. Anyone willing to use modern technology is going to get you a good deal.
Agents Will Work As a Team
You’ve just jumped into a time machine and visited Picasso. The most famous painter in the world has agreed to create something for you, but a few weeks later you find out he handed the job over to an apprentice.
It’s hard to put into words how mad you would feel. You hired him because he was the best. It actually happens with real estate agents too, so they might not be doing all the work for you. Ask if they are part of a team.
Handling Million Dollar Deals
If you owned a million dollar home you wouldn’t want an inexperienced agent representing you. The final decision would be up to you, but they would likely end up costing you hundreds of thousands of dollars.
I doubt you own one of the most expensive homes in the US, but the same rules still apply. You want to know your real estate agent has sold homes in your price range. You’ll only know for sure if you ask them.
Taking on Far Too Many Clients
You don’t want your home to sit on the market forever when you’re desperate to move. It could happen if your agent has far too many clients. How much time do you think they’ll spend trying to sell your home?
They might be selling similar houses too, which is a bigger problem. Which one will they recommend most? On the opposite side of the spectrum, you don’t want to hire someone if they have very little clients.
Don’t Be Afraid to Ask Questions
Do you remember what we talked about right at the start? Your home is the most expensive thing you’ll ever sell, so don’t be afraid to ask your agent too many questions. The good ones will be able to answer them in seconds.
