You won’t hear about it on the radio or on HGTV, but it’s the Real Estate Moment of Truth that you must understand when choosing a real estate agent to sell your home. Thousands of dollars are lost and gained at this critical juncture in the real estate transaction. Most homeowners don’t see it coming, and even fewer understand what happened, until it’s too late… if they ever realize it all.
When the offer comes in, how will your agent negotiate on your behalf?
All the slick listing marketing and promotion in the world will have been for nothing if your REALTOR® fumbles the negotiation. Precious home equity can slip through fingers in a real estate minute, all because the listing realtor got too excited or too personally invested in the deal. Remember, a lot of discussion may happen between your agent and the buyer’s agent, discussion you may not always be privy too.
What will your agent say—or not say—when the pressure is on?
Preferably, your real estate agent knows how to step back and look at all aspects of a deal objectively, even if tensions are running high. While you’re losing sleep and gnashing teeth, you want an agent who can stay calm, cool, and focused on razor sharp negotiating for the best possible terms and conditions.
Before signing a listing agreement, ask the real estate agent questions, such as:
- What should I expect from buyers in this market?
- How do you handle aggressive or ‘lowball’ offers?
- How will you protect our interests through this process?
For sure, your listing had better look good. The pictures should be hi-res. The asking price needs to hit a sweet spot. And your home should show 10 out of 10. But your real estate agent should also put his best foot forward, especially when you’re not around.