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QUESTIONS TO ASK A REAL ESTATE AGENT

If you want your home SOLD and not just Listed.

 

1. Are you part of a team or an individual agent?

If there is no team or assistant, how can they find time to “sell” your home?

 We’re in the top 20 REMAX teams in Minnesota.

 

2. How many homes do you sell a year?

Signifies if Real estate is a business or a Hobby and give’s a measurement of their success.  The Average Agent sells about 5 homes a year.  In fact, our Realtor association has repeatedly asked agents that sell less than 9 homes per year, not to renew their license.

 We average 60 homes each year.

 

3. Do you have a geographic focus or do you cover the whole metro area?

How well can they represent the area and share the intimate details about your community?  Do they have a focus or do they just take what they can get?

 We focus on the Western metro with Plymouth being 50% of our business.  In fact, we are the #2 selling agent group in Plymouth!

 

4. What is their homes listed to sold ratio?

This is a key measure of success.  A perfect ratio is 100%.  Can they get the job done?  If they don’t know their ratio, you had better wonder why?

 We’re at over 90%.  Not many agents can claim that.  The average agent is around 57%.  We work darn hard to improve our ratio each day!  The higher the ratio, the happier our clients and the more REFERRAL’s we get.  About 30% of our business in from past clients.

 

5. What is their average days on market to sold time?

This is great measure of getting the home ready for market, priced right and promotion.  Most agents don’t know, I wonder why?

 We’re at 66 DOM.

 

6. What is the percentage of listing price to sold price?

The perfect ratio is 0%; this means they always sell for full asking price.  Most agents don’t know the ratio because they don’t care.  I wonder why?  MLS stats tell us 4% to 5% is the current average.

 We’re at 1.64%, well below the average.  On a $300,000 home, this equates to more than an additional $10,000 equity left in your pocket!

 

7. How many expired listings from other agents have they sold?

These are the most difficult listings to sell!  These sellers have been on the market for sometime and they have not SOLD their homes.  After a home’s been market hardened, it takes more effort and special marketing to get the home sold.  Success in this area measures the creativity, aggressiveness and marketing ability of an agent.  The sellers are also smarter and know what to look for in an agent.

 About 30% of our sales are Expired listings.  These “difficult” listings are included in our Sales Ratio.

 

8. What is your ratio of Buyers to Sellers that you work with?

This is a measure of the agent’s willingness to find buyers and to work with them.  If an agent specializes only with sellers, they may not really be trying to sell your home but hoping and praying someone else does.  It’s the classic “listing” agent who’s going to create great in-home marketing materials and get a sign installed.  If you’re really working hard to find buyers for your listings, then by default you’ve got to also be working very closely with buyers.

 We have a ratio of 50% sellers & 50% buyers.

 

You deserve to be working with a great, innovative Real Estate team that has your best interests in mind.  Don’t be fooled by someone with a “Reputation” and brags how great they are. 

Please have them share their “RESULTS” with you.

 

We’ll measure our results against ANYONE!  After all, you want your home SOLD!