When you list your home, you are entrusting us with one of the largest financial (and emotional) decisions in your life. Working with the right agent for you can make a stressful process run smoother and help maximize your investment in the market.

1. How did you arrive at your suggested listing price?

The market is the market. Buyers have had the leverage for many years and they simply will not overpay. Do not be tempted to select a broker based upon a higher listing price. No matter how thorough their marketing plan may be, buyers are looking for value. Listing too high will result in extended marketing time, and potential deterioration of your equity (Final sales price minus what you owe). List within the range of the past sales, and be mindful of active listing prices of comparable homes. Ask the agent for specific comparable properties (solds, actives, expireds) and have a detailed discussion of how a buyer may view your home with the comparable properties as your benchmark. If it helps you decide on a listing price, ask the agent to show you the houses that are currently on the market. You can then view the market as a buyer instead of a seller.

2. What is your marketing plan to sell my home?

Other than placing your listing on the Multiple Listing Service, how are they going to market your home, including what tools and services their company has in place? Also, dig into what the agent does on a personal level to market and expose your home to the largest pool of potential buyers. It’s important to pay attention to your photos as buyers use the internet to eliminate potential homes. Poor photos immediately knock you out of the box. Make sure the “copy” or text that is being used is descriptive and accurately reflects all of the positive features in your home. Get a specific marketing schedule and understand what commitment the agent is making to you. Be prepared to modify the plan along the way in case changes need to be made.

3. How will you target the buyers?

A laser focus on your targeted buyers is the most effective way to market and sell your home. This takes creativity, experience and fortitude on the part of the agent to implement a plan. Narrowing down where your buyer may come from makes the most of your marketing plan and will drastically reduce the amount of time on the market.

4. How will you and your company and market my home through social media and the internet?

This is an extension of target marketing. Many buyers are scouting for their next home on social media sites including Trulia, Zillow, Facebook and Twitter. Many companies automatically “syndicate” to these sites, but you also need an agent who thoroughly understands how to engage with potential clients on these sites. Not all agents understand how to do this, so ask specifics about how they use social media for their listings. There is a wide range of expertise and usage, which may impact your marketing. Make sure you choose an agent that works in this realm.

5. When can I expect to hear from you regarding feedback on showings, offers?

Set up a schedule for your agent to communicate with you (i.e. every Monday after public open houses, call after second showing with same buyer, etc.) The communication should be on your terms and when you need it. Don’t be afraid to give feedback to the agent if you are feeling anxious and need more/different contact from them. Working with your agent should become a collaborative partnership based upon a foundation of meeting your needs. The agent needs to be aligned with your goals of maximizing your price, selling in in the shortest period of time with the least amount of inconvenience to you.

Contact me at mriley@prudential for more information of some other questions you may want to include in your listing interviews.  I am happy to provide you with some great information on pricing, marketing or working with an agent. Arming yourself with the best information will increase your odds of having a successful listing and closing.