Rate My Real Estate Agent –
Real Estate Frequently Asked Questions

By the Chris Lofthus Group
Serving the Buyers and Sellers of Real Estate in Boise, Eagle, and Meridian, Idaho

Anyone who ever sold a home knows how upsetting it is to have your home real estate listing expire without a sale, especially in the Treasure Valley of Boise Idaho. You may realized that you’ve wasted valuable time without accomplishing your goal. The thought of going through the process again is an upsetting one—and yet, you still need to sell your home.

The fact that your listing agreement expired and your home means that things didn’t work out as you hoped they would.

“It’s a frustrating experience to have your listing expire without a sale.”

Choosing the right Realtor in Boise, Meridian, or Eagle Idaho can make all the difference in the world. But how do you make the right choice? How do you be sure you don’t end up in the same situation again?

There may be many reasons your home didn’t sell—your home’s condition, the price, etc.—but my experience has been that when a home fails to sell, there’s usually some kind of communication issue between the seller and Realtor.

Unfortunately, most people don’t know the questions to ask a realtor or what answers to look for.

As a Realtor who has worked with hundreds of sellers, I’ve found that those homeowners who take the time to find the right agent are consistently happier with their home-selling experience than those who don’t. It’s the first and most critical step in selling your home.

As a general rule of thumb, you’re looking for an agent who:

• has resources to support the sales effort.
• will keep you well-informed during the process.
• has a personality you are comfortable with.
• has the experience, qualifications and abilities to sell your home.
• has in-depth knowledge of your area and the market in general.
• will work hard on your behalf.

If you didn’t know what to expect from your last agent before you signed the listing agreement, then it’s possible you didn’t ask the right questions.

I’ve drawn on my years of sales experience to develop this guide, which is designed to elicit the information you’ll need to make the right decision in choosing your next agent. By asking the following questions, you can dramatically improve your odds of having a successful home- selling experience.

“How long have you been a full-time Realtor®? How long in Boise, Meridian or Eagle?”

I recommend looking for an agent who has been actively working on a full-time basis for at least the last three to five years. You should also find out how long they’ve worked in your specific geographic area.

There are several reasons for selecting a well-established agent. First, you want someone who has a track record you can confirm. Second, an established Realtor® has a roster of contacts you will need: home inspectors, mortgage companies, lawyers, etc. Finally, an experienced agent will have creative, time-tested ideas for marketing your home.

Yes, there are good agents who have been in the business for a short time. But there is a high drop-out rate in our industry, and it would be unfortunate if, three months down the line, your agent moved on to other things. On the other hand, a part-timer often can’t keep up with the pace or complexity of today’s marketplace. And they might not be available when you need them most. Your home is your most important investment—doesn’t its sale deserve an agent’s full- time commitment?

“What kind of property do you specialize in?”

A Realtor® who does big business in condominiums, or homes substantially less or more expensive than your own, probably isn’t the best person to sell your home. Look for someone who has experience selling homes of your type and price range, preferably in your neighborhood.

“How many Treasure Valley homes for sale have you listed in the past six months? The past year?”

While an agent’s length of time in the field is important, the quality of that time is even more important. You need to gauge just how active—and successful—the Realtor® is. A large number of listings is often the sign of a successful agent. However, no matter how many listings an agent has, make sure that he has the resources and systems to market each of them effectively. Getting a listing is only half the job.

“How many homes have you sold in the past six months in Boise? Meridian?  Eagle?  The past year?”

Here’s where we separate the listers from the doers. Just because an agent has a knack for signing up sellers doesn’t mean he’s good
at finding, negotiating and closing deals—and that’s what you want.

“What’s the average amount of time your listings are on the market before it sells?”

You may think that a quick turnaround is a good sign. It could be. However, a faster-than-average selling record could indicate that an agent is quick to sacrifice a seller’s profits in negotiations— which is why the next question is so important.

“How does your home sale price compare to the original listing price?”

There’s a difference between a Realtor® who gets you a good deal and one who gives away too much in order to sell your home. That’s why it’s important to compare the original list price to what a home actually sold for. For example, an agent who consistently gets 90 percent of the asking price is probably a better negotiator than the agent who only gets two-thirds of the asking price.

“How many Boise, Eagle, and Meridian homes are you currently marketing?”

Again, this goes to the question of effectiveness. Make sure your agent has the systems in place to handle them all. A successful top-producing agent may be more effective at managing many listings than a less experienced agent is with a handful.

“What can you tell me about your share of the marketplace compared to other Realtors in Boise, Meridian or Eagle Idaho?”

Again, you’re looking for indications of success. A Realtor® with a competitive piece of the market usually has better connections in the community and greater resources at his disposal.

Do you have support staff? How many are licensed?”

While it doesn’t necessarily indicate better service, a Realtor® who has a support staff to handle office chores and routine details can usually devote more time to the business of serving a client’s highest-priority needs. Ask about the composition of the Realtor’s® staff, the duties each member has, and how they will be involved in the marketing of your home.

Make sure you’re very clear as to the involvement you can expect from your agent compared to your agent’s staff. But don’t assume that you’re being treated poorly just because the agent isn’t doing everything herself. If you were having major surgery, you wouldn’t want your surgeon handling anesthesia and monitoring vital signs and every other detail of the operation—that’s what the rest of the medical team is there for.

The important thing is that your listing is handled in an efficient, professional manner, that you are kept well-informed as to what’s being done to sell your home, and that the operation is successful.

“How will you market my home in the Treasure Valley?”

Most Realtors® have at their disposal the same tools for selling your home: the Multiple Listing Service, company tours and Realtor® caravans, open houses, marketing flyers and brochures, direct mail, advertising, personal networking—the list is long.

What differentiates the best agents from the rest is their marketing philosophy and the strategies they’ve developed to achieve their goals. You’re looking for a Realtor® who tailors his approach to your specific circumstances, and then puts the tools at his disposal to your best advantage.

What you want is someone who does more than provide a physical description of your home and area to prospects. Your Realtor® should be enthusiastically selling your home’s benefits. You’re spending a good deal of money with an agent, and you should expect a detailed marketing plan—in writing—before you sign a listing contract.

As you discuss the marketing plan, make sure you include the following issues:

Open houses

Again, be wary if the agent sings the praises of open houses. As a rule, they’re good for your Realtor’s® prospecting efforts, but not very effective in selling your property. And a home held open too frequently can begin to look like a loser, making it a prime target for lowball bids.

Multiple Listing Service

The MLS is one of a Realtor’s® most important resources. But here’s another little secret—many agents fail to use the MLS effectively as a marketing tool.

Make sure that your agent takes the time to craft a strong, detailed sales pitch that extols the benefits of your home, and doesn’t just list a lot of dry facts.

When you consider that a listing in the MLS is like a free “classified” that reaches every other Realtor® in town—many of whom have clients who might be interested in your home—don’t you think you should take advantage of it? I do.

Flyers and brochures

Carefully review the quality of the materials the agent shows you. Do the design, style of writing and print quality do a good job of selling the attributes of a particular home? Poorly-done materials reflect badly on your home and say something about the quality of the agent’s marketing efforts in general.

Classified advertising

Don’t be unduly impressed with the huge sums of money some agents spend on classified advertising of their listings. I’ll let you in on a little secret—classified advertising is great for keeping a company’s name in the public eye, but it rarely sells a home in and of itself. An agent who stresses advertising at the expense of other efforts should be avoided. There’s no substitute for hard work on the agent’s part.

Other forms of advertising

Many of the marketing and technological advances found in other fields are also being put to good use in the real estate industry. Some agents now use toll-free hotlines and fax-on-demand marketing to provide potential buyers with 24-hour access to information on your home. Ask the agent what he does that he considers unique or special.

Other forms of promotion

Exposure is the key to any home sale. One of the most common ways a home is sold is when another agent knows a buyer who is looking for a home like yours. Ask the agent about techniques other than the MLS, advertising and open houses which he will use to maximize your home’s exposure.

I hope this special report provides the information you need to be an informed home seller in Boise, Meridian or Eagle Idaho.

Please feel free to call me if you would like further explanation on any of these topics, or if you have any real estate questions at all. I simply see my mission as striving to be as helpful as I possibly can to area home owners.