Finding a broker whom you’re comfortable with may take a little time. Ask friends, co-workers, and neighbors who have sold houses in the recent past for recommendations. You also can see who’s selling property in your area by checking lawn signs and ads.
Interview several real estate brokers/agents to learn about their experience, track record, style, and market knowledge. Expect a broker to be professional: to return phone calls, to be organized, and to communicate clearly.
Here are some questions to ask to help you find the best real estate broker for you:
- How many homes did you sell in the past year? Finding out what types of properties, how many units, and where brokers have sold can help determine how efficiently they’re operating and how much experience they have.
- What is your commission? Real estate commissions are negotiable. They are neither fixed by law nor by any local real estate associations (at 6 percent or any other level). The rate could be a percentage of the final sale price of the property, an hourly fee, or a flat fee. The payment could be up front, or when the property is sold. As you interview real estate professionals, keep two things about fees in mind: a traditional full-service broker generally charges more than a nontraditional broker, and if you hire a nontraditional broker, you can expect to pay higher fees if you purchase more services.
- What share of the total commission should I offer to another broker who finds the buyer? Your broker should be able to recommend that.
- How will you market my home? Ask whether the broker plans to rely on the MLS alone, or use it in combination with newspaper ads, open houses, or other promotions. Will the home be visible on popular websites?
- Will you help the buyer get financing? You also may want to discuss any seller-financing options you could offer to attract buyers.
- Can you provide a list of references? The broker should be able to give you the names, addresses, and phone numbers of clients whose homes have recently sold. Ask each client how long their home was on the market, whether they were satisfied with the broker, and why. Ask if they have any tips for you – or lessons learned to share.
