How to choose a real estate agent for selling your home (so you make the right choice)

How to choose a real estate agent for selling your home (so you make the right choice)

In this video we look at how to choose a
realtor when selling—top questions to ask —how do you find the best one in your
area and if you need to pay them upfront —and other questions.
That’s starting right now. Welcome to Homebuyer’s School, brought to you by Brookfield Residential. Hi everyone, I’m Karl. Welcome to another
Homebuyer’s School video, a channel where you get the latest strategy tactics
and tips from home buying experts. And remember, if this is this is your first
time on this channel and you want to get the latest strategies from the experts, hit
the subscription button below, hit the little notification belt so you don’t miss
anything. So today I’m joined by Kevin French, realtor with re/max realty, and
the question we’re gonna answer today is how do you choose a realtor
when selling your house? – Well you’re definitely going to
want to interview a realtor. I would encourage people to
get multiple opinions, meet with a few different people at the
very least. Go through first of all— get them to evaluate the property
and see what they think it’s worth, but more importantly find out what
their marketing plan is for the property— how they intend to get it to as many
people as possible, get as many people through the door as they possibly can.
There’s a lot of work that should be done prior to listing and that’s
including having a designer through getting the home prepped, making
sure that it’s going to show at its best. Ultimately once you take the photos and
the property is on MLS, and it’s live, there’s a lot you can’t do from there.
You can’t go back and change how it’s being presented unless you restart the
process. So key is getting it done right from the first time and then getting it
onto the market and then making sure that they are following up, giving you
feedback so you know how it’s showing, what the feedback is, what the negatives
and positives are about the property so hopefully you can adjust things if
needed, and then continuing to work with that agent and any interest that there
may be—and then hopefully getting an offer and negotiating in
your favour from there. – So what you just said, there’s a lot of stuff and I kind of want to unpack
a little, bits and pieces of it. So I think the first part I want to know
is how do I find the best realtor I guess, in my area? Or does it matter? – Depends on the realtor,
depends on the area. There’s a lot of people—it’s called
farming an area. So what Realtors do is they market the area by continuously
sending out newsletters using bus benches, maybe radio ads, community
events. That doesn’t necessarily mean that they’re the best for the area but it’s
almost safe to assume that they do have a vested interest in that community and
should have a good understanding of what the community has to offer if they’re
calling it their home base so to speak. So that’s typically a great person
to start with, however I would encourage most people to talk to their
friends and family, and find out who they’ve used in the past and what kind
of experience they’ve had. Ultimately using somebody that has marketing in the
area may not be the best fit for you. You have to meet with the person and
make sure that you guys have a bit of a connection and both have the same
needs going forward. Some people are downsizing,
some people are separating, some people are buying an investment
property, some people have you know— more children and a growing family
so they need to buy a bigger space. Those are all different needs
and there’s different people who can work with those needs in different
ways that might be a better fit. – So usually when you’re selling a house
most likely you’re probably looking to buy as well. But so is it better to actually
talk to a mortgage broker and maybe get your finances settled first before you
go to the real estate agent, or vice versa? – No, talk to the mortgage broker first.
Two reasons, first of all you never want to sell your home with the intention
of purchasing for X amount and then find out that you can’t actually afford that
amount because then you would’ve sold your home and then have nothing
to move into or at least something you may be unhappy with—and then
second is understanding that there may be mortgage penalties or typically
are if you’re breaking your mortgage and so finding out what those penalties are
prior to selling so that you know all your cost upfront. A lot of people tend
to roll that into their entire expenses and they’re trying to budget accordingly.
So finding out that you had a five or ten thousand dollar bill that was
unexpected obviously wouldn’t be ideal. So speaking with your mortgage
specialist beforehand to make sure you know those numbers is key. – And remember, if you want to
know more about the mortgage approval process, watch our
playlist above and in the description below. So let’s go back to actually
selling your house—well selling your home—do you actually pay a realtor to
show your home? Like I remember you mentioned the marketing aspect of it. – So typically the agent that lists the home doesn’t actually sell the
property, they don’t represent the buyer. It’s frowned upon and it’s not
recommended because it’s kind of impossible for them to
get the seller that’s praising the buyer the lowest price. So
most of the time it’s shown by the buyer’s agent. So the buyer will be
represented by another realtor, that realtor then books showings through the
listing agent would be who they would have interviewed and hired. Once that’s
confirmed then the buyer’s agent takes them to the property and then if there’s
some interest than the two of the agents negotiate from there. – So does it cost money to
actually list your home for sale? – Typically no. I can’t speak to other
people’s business models. Some agents may charge for the services that
they include or offer, however typically it would be included. That’s part of the
contract that’s negotiated with the listing agent and then the services that
they offer would be included in there. If the contract comes to term, the property
doesn’t sell, then usually both parties either extend the contract, or if you’re
taking it off the market then you just go your separate ways at that point. – And when you say—
when you’re talking about Realtors and their fees, and so on,
do you pay a realtor upfront or do you py after your house is actually sold? – Paid after the home has
sold majority of the time. I shouldn’t speak to it you
know—I can’t really say that it’s one blanket answer because people may run
their businesses differently, but majority of the time of course, once the
home is sold then the proceeds of the home is given to the seller, but a
portion of the proceeds are used to pay the fees. – Got it — And remember if you want to
know more about how Realtors get paid, we actually have a video here and in the
description below. Then finally, one of the questions I want to ask is how do
real estate agents get listings? Like is it just through their networks?
Is that kind of how—? – Interesting question. Through the network, through marketing,
through referrals, any avenue where basically somebody contacts them or
they contact somebody who’s interested in selling or purchasing a home, and then
they meet and find there’s a mutual connection there—and then they decide to
work together going forward. But it can be a difficult process. – So do you have anything else
to add in terms of choosing a real estate agent for selling? – I just encourage everybody to go with their gut and work with who would work
best with them. A lot of the time when I’m meeting with clients they are
meeting three to five six agents so if they’re meeting that many people,
they’re getting a different feel for everybody. What their marketing
plan is, what they have to offer, what the connection is
between them and the realtor. Some people off the impression
that they’re going to open house the property every weekend and they’re
gonna do all these things. It’s important for the sellers to ask what value does
that actually add. For example, how many homes in the last year or five
years have you sold off open houses? Is it actually advantageous for the seller
to be out of their home every weekend or is the marketing that they’re using
actually effective or does it just sound good? It’s important for them to ask
as many questions as they can and then make sure that who they’re working
with answers those questions appropriately, and then ensures that
they’re going to follow through on the things that they offer. – Is it better to have a
connection, like I guess a personal connection with the realtor, or
kind of choose a realtor based on talent? Or is it a combination of the two? – Combination of the two,
but you need to trust them. Ultimately they’re going to be bringing you
an offer at some point hopefully, and then they’re going to be negotiating on your
behalf. So they’re going to advise that you know, you need to maybe go out
of your comfort zone a little bit and maybe you should consider taking
this offer for these reasons. So you need to understand that they’re doing that
and they’re looking out for your best interest, not just trying to get the
property sold. So there’s a lot of data that they’re working with and they’re
working with a lot of sound logic for majority of it, and it’s important that
you trust them and work with them, and understand where it’s coming from. – Perfect. So the question of the day
I have for you is, what are some of the best tips you have
in terms of choosing a realtor? Let us know in the comments
section below. And remember if you want to know more about selling your home, check out these videos as well, and don’t forget to subscribe if you want to know more from the experts. Thank you for watching, we’ll catch you next video.

One thought on “How to choose a real estate agent for selling your home (so you make the right choice)

  1. What are some of the best tips you have in terms of choosing a realtor?

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