Interview Your Realtors?

You MUST INTERVIEW your next Realtor?, or at least ask them the critical questions before hiring. There is sometimes a vast difference in what a Realtor? or real estate agent typically does and what they should do to represent buyers and sellers. I am always working to stay on the cutting edge of marketing, advertising, research, technology, social media, communication skills, negotiating skills, sales techniques, statistics, understanding personality types, developing new strategies based on updates in available applications and online data resources, and overall doing everything I can to earn my portion of the commission check to create a ‘raving fan’ for life. Read on to see how ChatGPT answered my compelling question about RE agents, and then continue to read what questions you need to ask next time you interview real estate agents.

?I asked?ChatGPT (artificial intelligence chatbox),?“Why do some people think negatively about real estate sales people?”, and HERE IS WHAT IT HAD TO SAY:

?“There are certain common reasons why some individuals may have negative perceptions of them. Here are a few possible reasons:

?Commission fees: One of the main concerns for both buyers and sellers is the commission fees charged by real estate agents. Agents typically earn a percentage of the final sale price of a property, which can amount to a significant sum. Some individuals feel that these fees are too high and question the value they receive in return.

?Lack of transparency: Some people feel that real estate agents are not transparent enough during the buying or selling process. They may believe that agents prioritize their own interests over the clients' and may not provide all the necessary information, especially if it affects the agent's commission or the likelihood of a successful sale.

?Conflicts of interest: As agents earn a commission based on the sale price, some buyers and sellers feel that agents may push for higher prices to increase their earnings, even if it may not be in the client's best interest. This perceived conflict of interest can lead to a lack of trust.

?Communication issues: Buyers and sellers may also have grievances about communication with their agents. Some feel that agents are not responsive enough or fail to keep them updated on important matters, causing frustration and uncertainty.

?Inadequate representation: There may be instances where buyers or sellers feel that their real estate agent did not adequately represent their needs or negotiate on their behalf. This can result in dissatisfaction if they believe that better deals or terms could have been achieved.

?It is important to note that these concerns and perceptions are not applicable to all real estate agents, as there are many dedicated professionals who provide valuable services and prioritize their clients' interests. Finding a trustworthy and competent agent can greatly enhance the buying or selling experience.” (end of ChatGPT response)

?If you are selling your home, it’s one of the most important financial decisions of your entire life. It’s crucial to have a pre-determined set of questions and qualifications you can use during the interview to choose the best agent for the job. You certainly don’t want to mess up something this big in your life by choosing an agent based on their personality or a low commission. Frankly, if they can’t negotiate for themselves, they certainly won’t have the ability to negotiate for you. This means you may end up with a very low sale price.

?“Price becomes a factor in the absence of value.”

?The following questions are absolutely critical to the successful sale of your luxury home. If the agent doesn’t qualify on all of these questions, it may drastically increase the chances of your home not selling at all or worse, selling for a final price that is much lower than you originally listed for. When selling a home in the affluent market, you must choose an agent based on their credentials and their home marketing ability, not their marketing of themselves and their own picture.

?1.?????How long have you been a full time licensed real estate agent? (minimum 10 years)

2.?????Are you a certified Luxury agent? Do you have a Negotiating certification?

3.?????Can you show me a specific target marketing campaign you’ll have in place for my home and show me how you will go directly to the most opportune buyers?

4.?????What kind of money will you invest in the marketing of this home and can you demonstrate where that investment will be utilized to target affluent buyers?

5.?????Can you tell me the 3 best mailing list brokers you’ll use to target millionaire and above buyers that would be interested in the specific amenities of our home?

6.?????Tell me the top 7 or 8 selects that you believe should be used in a direct marketing campaign to target the affluent buyer that would fall in love with this particular property.

7.?????Which communities will you specifically target for move-up and move-down buyers and what type of campaign will you put in place for that?

8.?????Do you update your clients on the sale of their home at the same day and time every week? Are they able to directly view their market activity on elite advertising sites?

9.?????What empirical data do you have to justify the recommended price?

10.?Can you show me local, national, and international marketing that will attract the affluent?buyers in this specific price range?

11.?How can you target market affluent buyers based on income, net worth, specific selects?(like boat size that will fit at your dock), interests, and subscriptions?

?12.?Can you demonstrate your complete marketing plan including online and offline?promotions that will happen with my home??

Even if you are buying a home and not selling a home right now, don't you want to know that you have made a solid choice, and have a Realtor? who will do what needs to be done to get your home sold should you decide to sell in the future?

FACT: According to many industry experts, one of the biggest reasons a homeowner doesn’t sell their?desired price or within an acceptable timeframe comes down to the agent they hire for the job. Selecting a “discount” real estate agent may cause you to sell for far less than the homes are selling for in the immediate area, if you eventually sell at all. If the agent you select plans to simply take some photos, put a sign in the yard, advertise it on a few websites and hold an open house, frankly you can do that yourself and experience the miserable results it creates. Why would you pay someone to do that? A good question to ask the agents you interview is “What can you do to sell my home that I can’t do on my own?” If they don’t have several good answers to that, they aren’t worth ANY fee. You get what you pay for and if you aren’t going with a full-service marketing professional, it may cost you tens of thousands of dollars as well as months and months of stress and disbelief as to what’s happening with your home.

FACT: An agent must understand the art and science behind pricing a home correctly. This has changed drastically over the past 5 years. As an example, pricing a home at $999,900 does not look “cheaper” than $1,000,000. It simply eliminates virtually HALF of the buyers that would be looking for a home like yours online. If their search criteria is $500,000 to $1,000,000 your home will be in that list. If they choose $1,000,000 to $1,500,000 you do NOT come up in that search. Only an agent operating in the ignorance of the 90’s would price a home at a number that would eliminate 50% of your desired buyers instead of pricing it at an even number. This is a great test to see if your agent understands today’s marketing world. If they don’t, you should remove them from your home immediately.

FACT: Listing your home at an unrealistically high price will nearly ALWAYS result in a sale price that is far below the area average comparable sales. When a luxury home is priced above the competition, it will oftentimes sit for months & months generating “lowball” offers or no offers. A better negotiating tactic is to create interest with a solid fair-market sales price in order to generate multiple offers, giving the home owner the opportunity to pick and choose the best overall terms and one that often exceeds the list price in this seller’s market.

"People will?do?business?with, and refer?business?to,?those?people?they?know,?like,?and trust."

By the way, do you know the difference between a Realtor? and a real estate sales person? You should! The REALTOR? Party is a powerful alliance of REALTORS? and REALTOR? Associations working to advance public policies and candidates that build strong communities, protect property interests and promote a vibrant business environment.

Learn more here - https://www.allhomesinsouthflorida.com/blog/12-reasons-use-realtor-your-home-purchase/