What questions should you ask your Realtor?

If you are a seller

• How have you arrived at the market value for my home? What comparables did you use, and why? What really depicts market value? How far back did you go, and why?
• Do you recommend improvements I can make to my home to make it more salable? What is a “Home Stager”
• What role do I play in the sale?
• What happens when we get an offer?
• How long will it take to get an offer?
• What will you have to do to get a buyer – what marketing tools do you have? What is your plan?
• Do you have a website? Testimonials? Virtual tours/pictures?
• Do you use Social Network Marketing? Twitter/LinkedIn/Facebook/ or write a blog? – how can this be of help/ How do you know it helps?
• What happens if I ask a higher price than you suggest?
• Do you have the means to qualify buyers before they come through my home?
• How will we communicate with each other – How often? Why is this important?

If you are a Buyer

• What is the role of the realtor? Who do you work for, the buyer or the seller?
• What is most important, finding a home first – or getting qualified for a mortgage?
• Do you work with any financial companies – who is the best?
• How can I be sure I am seeing everything for sale?
• How do we keep in touch – How often?
• How long does the buying process take?
• How do I write an offer – What are important subjects to have on the contract of purchase and sale?
• What are the costs bourne to the buyer? Will I have to pay HST? Have mortgage Insurance?
• How much is a lawyer – Home Inspector – What is Provincial Transfer Tax?
• How will I know I’m not going to over pay for the home?
• For how long after the sale can I call you?

Questions that you might ask in either situation

• How long have you been in the business?
• Do you have any other qualifications?
• How can I trust your negotiating strategy?
• Do you offer any guarantees with service?
• Can I get out of the contract?
• What company do you work for – why should I list with you/them?
• Do you have any testimonials?

There are many more questions you could ask your representative, but in the end you need to feel comfortable and confident that the person you choose is going to do a great job for you. New sales people can be just as good if not better than the more seasoned realtors. Education outside of real estate or earlier careers can also be of benefit … Knowledge is usually the great divider – as long as they have their finger on the pulse – they will work together with all the other representatives to get your home sold – in the end it comes down to pricing your home competitively and aggressively in a tougher market and then exposure to the market place.

Happy Negotiating!

Written by Heather Clifford, http://whistlerbuzz.wordpress.com/