Expert: Jessica Bryan - 5/25/2006

Question
Hello Jessica. I m thinking of selling my first home of 6 years and I want to know what to expect. I want to go through a real estate agent since I have no clue how the process works. This no clue part is where I get into trouble because I have  take advantage of me please  wrote all over my forehead. Frankly I never have trusted anyone who makes money of off me or anyone else. I considered though since you have choose to help the real estate dumb like me you would have know problem telling the truth. Thanks Mark

Answer
Dear Mark;
I think that you are wise to understand that there is much to know about the process of selling your home.  Using a professional to assist you is important -- especially if you don't know what to do or what to expect. Choosing someone who will not take advantage of you is not too difficult if you know how to go about it. Just because someone has his or her license does not mean that you should consider them a professional and that is where people get into trouble!  Make sure that this agent is a REALTOR. This is a professional designation meaning that the agent has to answer to higher standards and is governed by the rules of ethical conduct. This still doesn't ensure that the person you choose will be ethical, but it helps.  The next thing to do is to find someone who comes highly recommended.  Ask friends, co-workers, and relatives for referrals.  If you can't get any then call some of the real estate companies in your area and speak with the broker in charge. Discuss your concerns and ask for the broker to make a recommendation of an agent that will be helpful, instructive and most of all responsive.  Once you have a few names, call and set up appointments to discuss your home and listing with them. Entrusting someone to represent you and your most valuable possession in a professional and ethical manner should be handled like a business owner hires employees for his company. Interview these people like you would interview someone for a job (which it is). Make sure that the person you choose is someone who answers all of your questions clearly and carefully so that you feel comfortable working with them. Find out how long the agent has been a REALTOR and what professional designations (additional training) they may have.  Ask how many homes they have sold in your market area. (This may be helpful but not necessary for them to do a good job.) Next, ask for an explanation of the process, what steps the agent will take to market the home, what price the home should be listed for, how the appointments will be made, and how you will be informed of showings.  How often will you get feedback; how often will you speak with the agent; how long does it take for the agent to return phone calls; is there someone working with the agent to help out if the agent cannot be reached; what fees the agent charges. Once the home is under contract, what happens next; how long does the closing process take; what to disclose; what inspections are required; who pays for what in a closing.  These are all important questions that the agent should answer for you.  If you feel comfortable with the person (after talking to several) then look over the listing contract and make sure that all of the terms of the contract are explained to you. Ask to look over the contract on your own for a day or two so that you are sure of what you are signing.  

These steps should help you find someone who will represent you fairly, well, and ethically.

I hope that this helps. Good luck and best wishes.
Sincerely,
Jessica Bryan
Managing Broker
House to Home Realty Services