AGENCY SHOPPING

AGENCY SHOPPING SELLERS– Be up front that you are interviewing for a real estate agency to sell your property. It is a small world and everyone you had look at your property that did not realize they were being shopped will be, to say the least, disappointed. And almost inevitably someone will get their panties in a twist and not promote your property fairly to a potential buyer.

Time is money, and upfront honesty will go a long way.

In course with upfront and honest, you should receive from every agency you are interviewing a Real Estate Brokerage Disclosure, with explanation. Explaining the different agency relationships and how those affect you right now and after you make a decision whom to list your property with.

POINTS ON FINDING A REAL ESTATE AGENT

The GOAL:

  1. Marketing and diversity.
  2. Knowledge of property evaluation and assessment.
  3. Risk management.
  4. Ease of transaction.

The INTERVIEW –

  1. Do not share personal information that would put a buyer at an unfair advantage.
  2. Ask if they are a cooperating brokerage, will they show and cooperate with all real estate agencies.
  3. Ask where they advertise.
  4. Ask if they belong to a multi list service and how many.
  5. Ask if they are tech savvy and utilize the most current programs and software for the business.
  6. Ask what kind of traffic they have on their website.
  7. Ask if they manage their own website or is it outsourced.
  8. Ask how they will service the listing.
  9. Ask what type of signage they will utilize on your property.
  10.  Ask if they are interested in listing your property.
  11. Ask if they will provide a CMA once you decide whom you will be working with.
  12. Has their broker ever had a complaint filed, censured or fined by the Real Estate Commission.

Competitive Points List

Unfair Advantage – what not to share in your interview.

  1. Why you are selling.
  2. What you want for the property, your bottom price.
  3. Terms of selling.
  4. What you paid.
  5. Personal financial information.
  6. Health issues.
  7. Family issues.
  8. Neighbor issues.
  9. If and how flexible you are in sale terms.

The car salesman lines of real estate –

  1. “I have a buyer that will buy it now.” Give them a 24 hour listing specific to that buyer.
  2. “I can get this sold (in a specific time).” Get that in writing and notarized!
  3. “I can sell this for $xxx. in a heartbeat.”  Overinflating a verbal price to get your listing then wanting to lower it after 60-90 days.
  4. “I don’t need to belong to an mls.” Multi List Services places your property in front of all agents that belong, and provides for cooperation for any of them to bring a buyer. Want one guy working to sell your property or several hundred?

The purpose of the interview is to determine which agency will perform the best. Pricing is your baby, they should provide you with a CMA and evaluate your price needs once you have contracted their service. Doing so before, puts you at risk of low offers due to information you have given them.

Personal referrals of which agency to utilize (or not utilize) are good, but should also be evaluated. This is about the services they perform and their ability to “get your property out”, get it “under contract”, and sold. All while decreasing your liability of the sale and obtaining the premium.

FOR PRINTABLE AGENCY SHOPPING CHECKLIST CLICK HERE

For more information please contact us at Crazy Woman Realty. 307-467-5222

 

AGENCY SHOPPING BUYER – Be up front that you are interviewing for a real estate agency to aid you in the purchase of property. It is a small world and everyone you had drive you around and look at property that did not realize they were being shopped will be, to say the least, disappointed. And almost inevitably someone will get their panties in a twist and make it difficult for you to negotiate fairly with a potential seller.

Time is money, and upfront honesty will go a long way.

Everyone wants to work with someone they like. Personality seems to be the first judge of market knowledge. Unfortunately this can be very deceptive. We all want people we work with to have good bedside manners, but please do not let this be paramount in your decision process. All things being equal it should be the defining quality, but you should consider the following heavily:

In course with upfront and honest, you should receive from every agency you are interviewing a Real Estate Brokerage Disclosure, with explanation. Explaining the different agency relationships and how those affect you right now and after you make a decision whom to list your property with.

POINTS ON FINDING A REAL ESTATE AGENT

The GOAL:

  1. Fair and reasonable purchase of a property, with full market knowledge.
  2. Knowledge of property evaluation and transaction progression.
  3. Risk management.
  4. Ease of transaction.

The INTERVIEW –

  1. Do not share personal information that would put a seller at an unfair advantage.
  2. Who do they work for? Seller, Buyer or Intermediary? Get it in writing.
  3. Ask if they are a cooperating brokerage, do they show and cooperate with all real estate agencies.
  4. Ask if they belong to a multi list service and how many.
  5. Ask if they are tech savvy and utilize the most current programs and software for the business.
  6. Ask them to briefly explain their property assessment skills.
  7. Ask where their work comfort zone is.
  8. Ask how accessible they are.
  9. Ask about their market knowledge in their comfort zone.
  10.  Ask how willing they are to work for full discovery.
  11. Ask if they will provide a CMA’s once you decide whom you will be working with.
  12. Has their broker ever had a complaint filed, censured or fined by the Real Estate Commission.

Unfair Advantage – what not to share in your interview.

  1. Why you are buying.
  2. What you will pay for the property, your top price.
  3. Terms of purchase.
  4. What you sold your previous property for or it’s valuation.
  5. Personal financial information.
  6. Health issues.
  7. Family issues.
  8. If and how flexible you are in purchase terms.

HIRE THE AGENT, THEN FIND THE PROPERTY, YOU WILL HAVE A MORE HARMONIOUS OUTCOME.

The purpose of the interview is to determine which agency will perform the best. Play your cards close to your chest until you see what they are offering. They should be willing to provide you with market listings, a CMA and evaluate your price constraints once you have contracted their service. Doing so before, puts you at risk of paying more than you need to due to information you have given them.

Personal referrals of which agency to utilize (or not utilize) are good, but should also be evaluated. This is about the services they perform and their ability to “find all properties”, get it “under contract”, assist with evaluations and finance processes and get it “closed”. All while decreasing your liability of the purchase and at a fair market price.

For more information please contact us at Crazy Woman Realty. 307-467-5222

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