According to the BC Real Estate Association in 2013 there were more than 18,500 realtors serving Vancouver and Greater Vancouver. These Realtors helped sell 72,936 homes. With so much movement in a 12 month time frame it’s essential to find the right Realtor. A Good Realtor can help you Buy or Sell your Home. A Great realtor can help you buy or sell your home fast and increase your equity. We’ve researched the top ten questions you should ask any Realtor before hiring them to represent you during a property transaction.
. How many years have you been in business? In the same way you’d hire a mechanic to fix your brakes, a hairdresser to cut your hair or a ski teacher to teach your kids how to ski, the longer they have been in business, the more experience they will have. Experience is not taught, so it should be a key factor when choosing the right Realtor. 2. How many listings per year? If a Realtor is consistent with new listings, then the likelihood of him/her having a loyal following of Buyers is more likely. More listings also means the Realtor is right up to date with what the property market is doing on a weekly basis, not just reading yearly reports. 3. How many purchases per year? A Realtor may have three years’ experience but if they only ever sold two houses this is a good time to ask why? A great Realtor will work side-by-side with the client and fully understand the wants and needs of the family. 4. What’s your average sales to list price ratio? When you list your property for $xxx,xxx you want your Realtor to sell your home as close as possible to this list price. The higher their sale to list price ratio is, the better they are at finding the right Buying and negotiating on your behalf. Don’t hire a Realtor who has a low sale to list price ratio, it could be the most costly mistake you make. 5. What are your average days on market for a listing? Sure the property market peaks and drops through the year, but a great Realtor is a marketer at heart. If their customer base is right and the property price is right, then the Realtor’s listing’s “average days on the market” will be less. 6. What do you do different from other Realtors? With over 18,500 of Realtors ready to serve you, always ask; “what makes you different to the other Realtors in our city?” Listen carefully to the answers. 7. How well do you know the local area and market? Does the Realtor work, live and play in the local area? Do they have kids that go to the local school? Do they attend the local church? All these factors weigh in on how well a Realtor knows the neighbourhood. 8. How are your negotiating skills? Selling a house takes an agile mind when it comes to negotiating. You shouldn’t be shy to ask your Realtor for examples of their recent negotiating highlights. A great Realtor is a relentless negotiator. 9. Are you in the Top 10% of Agents? A great metric is to ask if the Realtor is in the 10% of Agents in the local area. This will show that the Realtor is active and working hard to sell houses. Why hire someone in the bottom 10% when you could have the best at no extra cost?
10. How long have you been at your current office? If the Realtors is established at the local office, he/she will have an active group of Buyers looking for your property, making a sale more likely in favor of the seller. Selling your home or buying a house is one of the biggest transactions most people will ever make. It’s so important you do your research before hiring a good or better yet, a great Realtor.