How to List Real Estate
Ask around., Get references from recent clients., Pull a record of their licensing., Pay attention to credentialing., Ask about experience., Look at their web presence., Make sure the agent knows your market., Be aware of the extra cost.
Step-by-Step Guide
-
Step 1: Ask around.
The most common way of listing a house is by contracting with a realtor, and it’s going to be the most effective for most people, because the realtor takes care of the entire listing process for you.
Not only can your realtor help you price the house and schedule showings, but they are also networked with other realtors—not to mention that it’s their full time job to sell houses.
Although there are many things to consider when picking out a realtor, the first thing you should do when looking for a realtor is ask your friends and neighbors about realtors they’ve used in the past with success.Start off by talking with any new neighbors about realtors they used.
A realtor with experience in a particular local market is a plus.
They know the kinds of buyers to look for, market trends, and the best price points to start a listing. -
Step 2: Get references from recent clients.
Once you’ve found a prospective realtor, ask them for a listing of recent clients so you can get a feel for the past clients’ opinions about the realtor.
While the realtor isn’t likely to forward you negative references, the clients have no reason to lie about their experiences.This is one area where quantity can give you an idea of quality.
As long as a realtor’s been in the business for a while, they should be able to give you as many references as you’d like to see. , Like many professionals, realtors are licensed and bound by a code of ethics (not to mention law).
If the prospective realtor has been sanctioned by any licensing bodies, there will be a record of the offense.
Anyone considering contracting with a realtor should make sure to look up any disciplinary violations in their professional history.
Each state has their own licensing bodies for agents working with their jurisdictions.
To find the one for your state, just use your favorite search engine to search for “disciplinary against realtors” in your state.
The information needed to look up a violation may vary from state to state, but as a rule of thumb, get the realtor’s name and license number.
As an example, you can browse the disciplinary actions against realtors in California at http://www.dre.ca.gov/Licensees/EnforcementActions.html. , Credentials matter.
Just like a doctor or a lawyer might be board-certified in certain practice areas, realtors can become credentialed specialists in certain areas.
Some realtors specialize in representing buyers, while others might specialize in commercial real estate, residential real estate, land sales, or foreclosures.You can view a listing of the various specialties at the National Association of Realtors’ (NAR) website, located at http://www.realtor.org/business-specialties.
Speaking of the National Association of Realtors, an NAR membership is another good sign.
Not only does it denote professionalism, it also signifies the realtor has agreed to abide by the NAR’s Code of Ethics, viewable at http://www.realtor.org/code-of-ethics., While experience isn’t a perfect indicator of competence, it’s a factor you should weigh in your decision.
Ask your realtor how long they’ve been in business—you can always check up on them via the state licensing board—and make sure you’re comfortable with the answer.Most commentators agree that five years’ experience is long enough to have learned the ins and outs of the business, but your mileage may vary.
Some agents will learn far more quickly than that. , Most people who purchase real estate these days begin their search on the web, and no one needs to understand this more than your prospective agent.
Before you make a commitment, check out their listings online.This is easy enough to do.
First, go to realtor.com, then click the “Find a Realtor” tab at the top of the page.
If the realtor has a good web presence, you should be able to see the number of active and total listings they’ve had on realtor.com (which is updated with data from the MLS in real-time). , Ask your prospective agent about market trends, the asking and selling prices of comparable houses in the area, and how long homes in your area are staying on the market.
These types of questions aren’t terribly complex.
They’re the basic questions they need to answer in order to demonstrate their knowledge of a local market.
If your prospective realtor blanks when you pose these kinds of questions, it’s not a great sign.One reason why thorough knowledge of the local market is crucial is pricing.
While you have ultimate control over the selling price of your house, the realtor's expertise should help you understand if you're pricing too low or too high. , Of course, the expertise and the networks of a realtor aren’t free.
Realtors charge a commission to execute a sale.
When this commission is added to the other closing costs, it can add up to a significant expense.A commission of 6% is typical, but is negotiable.
The commission is split evenly between the buyer and seller. -
Step 3: Pull a record of their licensing.
-
Step 4: Pay attention to credentialing.
-
Step 5: Ask about experience.
-
Step 6: Look at their web presence.
-
Step 7: Make sure the agent knows your market.
-
Step 8: Be aware of the extra cost.
Detailed Guide
The most common way of listing a house is by contracting with a realtor, and it’s going to be the most effective for most people, because the realtor takes care of the entire listing process for you.
Not only can your realtor help you price the house and schedule showings, but they are also networked with other realtors—not to mention that it’s their full time job to sell houses.
Although there are many things to consider when picking out a realtor, the first thing you should do when looking for a realtor is ask your friends and neighbors about realtors they’ve used in the past with success.Start off by talking with any new neighbors about realtors they used.
A realtor with experience in a particular local market is a plus.
They know the kinds of buyers to look for, market trends, and the best price points to start a listing.
Once you’ve found a prospective realtor, ask them for a listing of recent clients so you can get a feel for the past clients’ opinions about the realtor.
While the realtor isn’t likely to forward you negative references, the clients have no reason to lie about their experiences.This is one area where quantity can give you an idea of quality.
As long as a realtor’s been in the business for a while, they should be able to give you as many references as you’d like to see. , Like many professionals, realtors are licensed and bound by a code of ethics (not to mention law).
If the prospective realtor has been sanctioned by any licensing bodies, there will be a record of the offense.
Anyone considering contracting with a realtor should make sure to look up any disciplinary violations in their professional history.
Each state has their own licensing bodies for agents working with their jurisdictions.
To find the one for your state, just use your favorite search engine to search for “disciplinary against realtors” in your state.
The information needed to look up a violation may vary from state to state, but as a rule of thumb, get the realtor’s name and license number.
As an example, you can browse the disciplinary actions against realtors in California at http://www.dre.ca.gov/Licensees/EnforcementActions.html. , Credentials matter.
Just like a doctor or a lawyer might be board-certified in certain practice areas, realtors can become credentialed specialists in certain areas.
Some realtors specialize in representing buyers, while others might specialize in commercial real estate, residential real estate, land sales, or foreclosures.You can view a listing of the various specialties at the National Association of Realtors’ (NAR) website, located at http://www.realtor.org/business-specialties.
Speaking of the National Association of Realtors, an NAR membership is another good sign.
Not only does it denote professionalism, it also signifies the realtor has agreed to abide by the NAR’s Code of Ethics, viewable at http://www.realtor.org/code-of-ethics., While experience isn’t a perfect indicator of competence, it’s a factor you should weigh in your decision.
Ask your realtor how long they’ve been in business—you can always check up on them via the state licensing board—and make sure you’re comfortable with the answer.Most commentators agree that five years’ experience is long enough to have learned the ins and outs of the business, but your mileage may vary.
Some agents will learn far more quickly than that. , Most people who purchase real estate these days begin their search on the web, and no one needs to understand this more than your prospective agent.
Before you make a commitment, check out their listings online.This is easy enough to do.
First, go to realtor.com, then click the “Find a Realtor” tab at the top of the page.
If the realtor has a good web presence, you should be able to see the number of active and total listings they’ve had on realtor.com (which is updated with data from the MLS in real-time). , Ask your prospective agent about market trends, the asking and selling prices of comparable houses in the area, and how long homes in your area are staying on the market.
These types of questions aren’t terribly complex.
They’re the basic questions they need to answer in order to demonstrate their knowledge of a local market.
If your prospective realtor blanks when you pose these kinds of questions, it’s not a great sign.One reason why thorough knowledge of the local market is crucial is pricing.
While you have ultimate control over the selling price of your house, the realtor's expertise should help you understand if you're pricing too low or too high. , Of course, the expertise and the networks of a realtor aren’t free.
Realtors charge a commission to execute a sale.
When this commission is added to the other closing costs, it can add up to a significant expense.A commission of 6% is typical, but is negotiable.
The commission is split evenly between the buyer and seller.
About the Author
Timothy Ramirez
Specializes in breaking down complex lifestyle topics into simple steps.
Rate This Guide
How helpful was this guide? Click to rate: