RE/MAX Northern Illinois Regional Director and Executive Vice President Jack Kreider recently shared insights on the questions a seller should ask before choosing a real estate broker.
While sellers may be focused on the home's value, broker's commission and repairs needed to bring in the top dollar, Kreider pointed out that there's more to the process than putting up the "For Sale" sign and signing the paperwork. He provided several questions that sellers should ask before selecting a broker.
First, the seller should ask what the appropriate listing price is for the property. A price set too high may scare off buyers and leave the house sitting on the market. The broker should use recent sales prices of comparable homes and the current state of the market to set a realistic selling price.
Sellers should also ask about additional expenses, in addition to the commission. A variety of fees, including the title search, surveys, attorneys' fees and transfer taxes can add to the costs of selling the home.
Sellers need to find out how the broker will handle the marketing, including online, and how to approach preparing the home for sale. Many buyers use the internet to locate properties—good photos and descriptions encourage buyers to look at the home. In addition, reducing clutter, making cosmetic repairs and improving the curb appeal adds value to the property.
It's also important to ask how the broker works with the client, such as how often the seller will be updated. Another important question is if the broker works personally with the seller, or if a team of brokers and assistants will handle the various details of the process.