These days it can be quite difficult to sell a Lakewood Ranch home. The real estate market has gone down so quickly that houses are selling for significantly less than they were just a couple of years ago.
For example, houses on our block in Lakewood Ranch are selling for $100,000 dollars less than they were just two years ago.
This makes selling a home in Lakewood Ranch a real challenge.
And, this makes finding the right Lakewood Ranch realtor that much more important.
Unfortunately, many people make crucial mistakes when choosing their realtor…mistakes that can end up costing thousands of dollars…sometimes tens of thousands of dollars.
Here are 7 tips for choosing a Lakewood Ranch Realtor. Tips that will not only help you sell your house, but also save you money!
1. It’s business, it’s not personal – Don’t choose a realtor just because she is your friend. That doesn’t mean you can’t choose a friend to be your realtor…it just means that shouldn’t be the reason you chose her. Choosing a friend to be your realtor can be a huge mistake for two reasons. First of all, just because the person is a good friend doesn’t mean the person is a good realtor. This leads to the second problem, which is your friendship will most likely end.
2. How many listings does the realtor have? A realtor with many listings is not necessarily the best choice. Remember, you want a realtor that is going to devote the necessary time needed to sell YOUR house. If a realtor has many listings then make sure to ask if they have an assistant. Many listings and no assistant simply means the realtor will not be able to put in the time needed to sell your house.
3. When will the realtor list your house in MLS? If you want to sell your Lakewood Ranch home you must be listed in both Sarasota MLS and Manatee County MLS. This is the single most important step in selling your Lakewood Ranch home. Therefore, your realtor should have your house listed in BOTH within 24 hours. There is simply no excuse for a realtor to take one or two weeks get your house listed.
4. How many pictures will the realtor post in your listing? Along with knowing how long it will take to get listed in MLS you should also ask how many pictures will be posted. If there are no pictures in MLS chances are your house will not be shown. Remember, if a picture is worth a thousand words then fifteen pictures is worth fifteen thousand words.
5. Where else will the realtor list your house? While having your home listed in Sarasota and Manatee County MLS is by far the most important, you should also ask your realtor where else your house will be listed. These days many people search for a home on the Internet without a realtor. They search in places like Craigslist, eBay, Yahoo Real Estate, Google, Zillow, Truilla as well as online newspaper websites such as the Sarasota Herald Tribune, New York Times, and the Boston Globe. Make sure your realtor intends to list you in as many (if not all) of these places.
6. Will the realtor tell you the truth? Make sure to find a realtor that has a reputation for being brutally honest. Often times realtors tell their clients just what the client “wants” to hear. Realtors are often afraid of telling the client the brutal, honest truth. The fact is you are hiring a realtor for their expertise, not just to tell you what you want to hear. Let’s face it…if you bought a house in Lakewood ranch in the summer of 2005 you are NOT going to be able to sell it for the what you paid for it. If you bought your Lakewood Ranch home for $450,000 in 2005 you should expect to sell it for roughly $350,000 in 2008. That’s the brutal, honest truth. A realtor who tells you otherwise is just telling you what you want to hear.
7. Will your realtor cut their commission? This is important! Most brokers will NOT allow their real estate agents to cut their commission. And, even if they do, most realtors are not willing to do so. This is a huge mistake on their part. A typical real estate commission has the seller paying 6% of the sale price (3% to the selling agent and 3% to the buying agent). However, there is absolutely no reason why YOUR agent (the selling agent) should not cut their commission. Just think of the amount of money you can save if your real estate agent only charges you a 1.5% commission. You can literally save thousands of dollars. For example, a Lakewood Ranch house that sells for $500,000 would typically have to pay $30,000 in commissions ($15,000 for each agent). Now, if YOUR agent cuts her commission in half, you just saved yourself $7,500! Again, most brokers will not allow their agents to do this so you MUST ask. If they are unwilling to do so then continue your search for another Lakewood Ranch realtor who is willing to cut her commission.