It’s truly staggering how much money homes sellers in Edmonton waste each year, because they are unable to differentiate one Realtor from another. If you are a potential home seller, don’t make the mistake of believing that ‘all Realtors are the same’.
Many home sellers pick a family friend or a relative to help them sell under a ‘traditional’ or ‘full’ commission program. If you do, you might needlessly give away thousands of dollars of your home's equity.
There are more effective, less expensive and credible options.
We suggest you ask the following questions BEFORE you hire any Realtor®
1. How long have you been a Realtor®?
Some Edmonton Realtors® have been around for decades. These folks might not be the best choice because they rely entirely on their reputation to win clients and in reality they may have fallen way behind in terms of understanding what type of marketing works these days. Conversely, many agents have only a few months, or perhaps just a couple of year’s experience. These people are unlikely to add any real value. We suggest you look for someone with at least 10 years’ experience in marketing LOTS of homes and condos.
2. How many homes do you sell each year?
There seems to be a widespread belief that all Realtors® sell hundreds of homes each year. The reality? Average production in Edmonton, (including selling and buying sides) is only 10 deals per annum each. We suggest you find a selling specialist. Someone who sells more than 30 or 40 homes a year, is effective and has ‘sharp teeth’.
3. What percentage of the homes you list, sell each year?
Based on Edmonton MLS® System statistics, if you choose an average traditional Realtor® there is about a 50% chance that you will sell in term. If you choose a program like Comfree, your chances of success goes way down, perhaps as low as 30%. We suggest you find someone that has a higher level of success. Some Realtors® exceed 80% success rates, but you will have to look harder.
4. How do you suggest we ‘position’ my home in the market?
If the Realtor® you interview does not at first understand this question be careful. It shows that they have only a rudimentary understanding of the sales and marketing process. Too many Realtors®, and therefore too many home sellers, fixate on price. At Ambergate Realty Advisors we have identified 8 Key Components to correctly position a house for selling success, of which price is only one component.
5. How many ‘phases’ does your marketing process involve?
If the Realtors® eyes glaze over when you ask this question, don’t be surprised. Most Realtors® may not have a marketing process. In many cases they will list your home on the Edmonton MLS® System, install a key box, put a sign up and wait. They might agree to do newspaper advertising and perhaps an Open House, but these are simply ways to placate you, because you think that something is being done. Based on research, neither of these tools work. Try to find a Realtor® that offers a multi-phased program or plan. The Ambergate Realty Advisors plan is unique and has 5 distinct phases.
6. What’s distinctive about your advertising program?
Forget print media and open houses. These days most of the action is on social media and in particular, Facebook. Facebook is excellent because when used properly, it’s possible to target and advertise to very specific demographics. For example if you had a wonderful family home close to an elementary school and an off leash area, it’s possible to pay Facebook (via a business page) to target young families with children who have a dog and are looking to move home. Unfortunately, finding Realtors® that understand this and have the budget to pay for the program is a challenge.
7. How do you attract buyers to work with you?
The best Realtors® employ a sophisticated ‘buyer friendly’ website to capture potential buyer information on a 24/7 basis. Unfortunately, finding one that has this tool and again the budget to drive it, will be a challenge. Hint: our website www.AmbergateHomes.com has hundreds of buyers searching every week. And the best part? We can see if they are especially interested in your home and one of our buyer agent specialists will call them to set up a showing without delay.
8. How many professionals work on your team?
When selling a home many people forget to look for depth in the service platform of their Realtor®. Most Realtors® are one man band single practitioners running cottage industries out of a large ‘clearing house’ real estate brokerage. This means that your Realtor® has to be on call 24/7 and has to handle every aspect of the project from writing the copy, to handling the advertising, to taking the calls, to hopefully negotiating the sale and so on. What’s the problem? First no one individual is good at all these things and if your Realtor® goes on vacation, is sick or otherwise engaged, your support system evaporates. Would it not be more sensible to find a team? If you hire a team, then you always have support and the best people on the team handle the most appropriate parts of your home sales program.
9. Do you provide a performance guarantee?
Because many Realtors® work as individual practitioners, they are not permitted under law to offer you any form of guarantee. In a challenging market, if you cannot get a performance guarantee, we suggest you look elsewhere.
10. How much money can you save me on commissions?
Today ‘traditional ‘commissions are simply not justifiable in our opinion. The internet has made it easy to cheaply and comprehensively market homes. Technology has made it quick and easy to service client’s ie electronic document transfer and the like. Therefore real estate commissions must come down. It’s only fair to you the consumer. Some Realtors® simply discount their commissions to win clients. Unfortunately, this inhibits their ability to give quality service and support. Some Realtors® like Ambergate Realty Advisors charge FLAT FEES rather than commissions. This results in a high quality service, outcome and a ‘transaction fee’ thousands of dollars less than you would pay a ‘traditional’ Realtor®
Want more information about our discount and flat fee home selling programs? Please feel free to call us.