Over the last few weeks we've taken a look at some of the crucial ingredients that will help you maximize the value of your home if you've decided to sell. It's important to price your home to the market and not fall into the trap of "chasing the market." Making your home "market ready" by completing reasonable repairs and updates a must. And if you really want to stand out in a crowded market, then staging your home to create an emotive connection with prospective buyers is a must. So what is missing? If you're serious about selling your home, you will want to seek a professional to help you sell your home faster and for more money.
There are several things that you may want to consider before selecting a competent real estate professional to represent you. In Tennessee, real estate agents must be licensed by the Tennessee Real Estate Commission to represent buyers and sellers in real estate property negotiations and transactions and receive any type of compensation. However, not all licensed real estate agents are REALTORS. Only real estate professionals who are members of the National Association of Realtors and agree to uphold its Code of Ethics and Standards of Practice earn the right to be called REALTORS.
You'll want to know how many homes your prospective agent sells on an annual or monthly basis. Did you know that 80% or more of all homes are sold by less than 20% of all agents? The reasons are many, but in simplest terms the top producers in any market are dedicated full time to their business. They are also keenly aware of changing trends, especially as it relates to pricing and marketing your home.
You should find value in many resources that most active real estate professionals bring to the table. They should have knowledge of the reputation and abilities of other industry providers that will help you through selling or buying a new home (painters,movers,landscapers, etc.) and are usually willing to recommend two or three for you to talk with. While it's helpful to have a recommended list of contractors and vendors who will help make your home market ready, it's even more important to know that your agent has a good track record of working with industry professionals ( home inspectors, mortgage originators, closing attorneys, etc.) in addition to fellow agents. In this day and age, you never know when your agent's relationships, professional to professional, might be the glue that holds your deal together at the closing table.
Finally, and maybe most important of all, you'll want to consider the professional skill level and integrity of a prospective agent. Does he or she appears knowledgeable? Do you trust them? Can they answer difficult questions? Do they ask good questions of you? Are they willing to go the extra mile? Do they suggest innovative ideas and approaches that you have not considered? Do you have the confidence that he or she can get the job done? And in the end, maybe the most important question... does this agent really care about me?