Expired Listing Q&A

The past few weeks most Realtors have been prepping for the big open house season, so I have been writing as many possible blogs to help buyers and sellers start the season off right.  This week I want to take the time and write about what you should be looking for in a real estate agent when your looking to list your home.

Expired listings are my specialty and I have many clients whose homes I listing that can attest to my knowledge, experience, and hard work got their home sold ! This blog will not bore you with the things you already know but touch on those questions you should be asking, that only a Real Estate Agent would know need to be asked.

Photography

• Most important is always quality, but what you should be seeing in the pictures is very specific.  You should make sure your pictures are clearly defining each room, and make sure you can see floor to ceiling of only that room.  Pictures that contain more than one room often make the home seem smaller.  

• How often will your pictures be updated, this is very important this time of year.  Your home will obviously look quite different without it having snow piled in front of it, and your outdoor living space has been put away for the winter.  You should have this discussion before listing your home, this way come the spring you will know your home will be updated with the season. 

Internet

• Where will your ad stand in the ranks compared to other homes, that is the specific question you need to be asking.  The reason why is only an educated agent will be able to explain that after paying for "Featured Agent" or "Featured Listing" the next manner is by the number of pictures that are associated with your listing.

•  You will want to also ask what kind of "Branding" is done for the listing.  What many sellers do not realize is that any home on Trulia or Zillow has ad space that is for sale next to it, which is bought by Realtors.  If your agent is not purchasing the ad space than it will be given to 3 other agents, in turn any buyers looking for information will be directed to someone other than your agent. 

Communication

• How quickly will they respond to inquiries or appointments made to find out more about your home ? The best way to find out is to actually place an inquiry on one of their listings and see what kind of response time you get ! Inquiries made online need to be answered within 30 minutes or statistics show the chance of getting to them is less than half ! 

• How often will you hear from your agent, and how will they go about getting you feedback from Realtors and buyers who see your home ?  Sometimes it can be difficult to get feedback, so as agents we have had to come up with more ways to do so.  I created a quick survey on my tablet to get feedback from those who attend open houses before they leave, and send weekly updates on the number of hits your home has gotten on each website.  

Private Showings 

• Because your home is listed on MLS other Realtors will want to show it you will have showings by other agents.  Buyers will tend to feel as if they are intruding so we recommend that you leave during showings. You can't control if the other agent is knowledgable so I prefer to be present to make sure that the buyers are getting all the information they need from the price of your house but things like where the schools are and what the town offers.  

• What will set your home apart from others while its being shown? Each agent is different but in order to set your home apart I have created buyer folders with information about your home, helpful articles about buying a home, and community information.  

Open Houses 

• How often will they hold the open house ? Are you looking to sell your home quickly, than holding open houses every 2-3 weeks, if your looking to sell in a 6 months than every 4-6 weeks.  Every agent has their own opinion and strategy about open houses, find an agent whose opinion on them is similar to yours.  

• Who will be the one who is holding the open house ? Many agents will allow other agents from their office to hold open houses, this is not a bad thing as a matter of fact I did some open houses for a colleague just this weekend ! Your agent should of course also hold open houses as well, but open communication about this is important.  

• What kind of advertising and lead time happens before an open house ?   Simply putting your house on MLS with an advertised open house isn't enough because many websites have not created a open house search on their websites.  Most buyers will be looking at Newsday for their open houses will your agent be paying for your ad to be featured ? 

There is of course other questions that you should be asking before you list your home but these are some of the uncommon questions that could make or break that sale of your home.  For additional blogs like "The Full Service Brokerage Difference", you can use the link or use my blog archive tab on my website ! 

What You Should Ask Realtors Before You Re-List Your Home !

Many of my listing happen to come from expired listings, because of that I meet a lot of homeowners that are hoping a new Realtor will get their home sold.  Let me first off by pointing out that I am going to list the questions you should be asking in order of importance ! 

1. How Many Expired Listings Have They Sold and How Did They Come Across Your Listing ? 

• How Did They Come Across Your Listing ? In my opinion if you received a piece of "bulk mail" I will usually discard it just like anyone along with the junk mail.  If you receive a piece of mail that they took the effort to hand deliver I would give them the opportunity to at least come and speak with you and about what they can do to help get your home sold. 

• How Many Expired Listings Have They Sold ?  When your hiring an agent after you have expired it is important that they understand the extra work that they will need to do.  They will run into buyers that have already seen your home and may not want to view it because it was "sitting" for so long or because a previous listing wasn't descriptive enough.  You don't want an agent who is going to re-list it just "to have their name out there", I don't take listings I can't sell.  Many times I see other agents get the listing and once it expires again the homeowners than call me for the help I tell all of my homeowners "I don't list houses, I sell houses"! 

2. What Kind Of Company Do They Work For ? 

The very first question I hear from homeowners is "What Is Your Commission?" This should actually be your LAST question, it doesn't matter what a Realtors commission rate is if they don't do what needs to be done to sell your home! 

• Is the company individually owned, or is it operated by a company ? In most cases bigger is always better because they are affiliated with other companies that can get your home sold.  You can't assume that because they have the name Century 21, Coldwell Banker, or Elliman that it will have the resources needed.  Coldwell Banker Residential Brokerage is company owned and is affiliated with Coldwell Banker Mortgage, NRT Insurance & Title, & American Home Shield.  We also offer professional photography, top placement, featured branding & much more ! 

3. What Is Their Internet Presence, And How Do They Create Your Listing ?

• What do they do for online advertising ? Everyone puts their listings onto MLS, what you want to know is how many other sites will you be on. Also who will be the point of contact on each of those websites, Without having "Branding" leads for your home are sold to other Realtors

• How do you monitor your online presence ? This is another important part of your Internet presence is knowing how many times your home has actually been viewed, partnering with the top websites (Zillow, Trulia, Optimum Homes, Newsday.Com, Realtor.Com) Coldwell Banker is able to send you weekly reviews of how many people looked at your home ! We are also able to track feedback from other Realtors viewings and send it directly to you, this is also provided with the Open House Survey filled out by consumers ! 

• What do they do to create your listing ? The first impression your house gives is by its listing does the agent stage your home or use a professional photographer ? Buyers are very visual so you want to be sure that you catch their attention right away ! Making sure that your listing is complete is often overlooked things like directions, or a full description can get a buyer to actually want to come see your home ! 

4. How Available Will Your Agent Be ? 

• How available are they to your buyers ? This is a very important question to ask because how quickly an agent responds to inquiries will decide how many buyers stay interested in your home! Statistics show that 60 minutes after an inquiry is sent the chances of reaching that buyer decrease by over 50%! The best way to find out how quickly they respond place an inquiry on one of their properties before your appointment and see how quickly they respond to you ! 

• How available are they to you ? This is another question homeowners often forget to ask, you want to know how often your realtor will be following up with you to give you updates on your home, feedback from Realtors and most importantly what is going on with other homes in the area ! Realtors that have a system set up and set times to be in contact with you for these things will always keep communication less stressful ! 

5. What Is Your Home Worth ? 

• I am sure your wondering why this is at the bottom of the list, the reason why is because as long as the agent has provided you with a Comparative Market Analysis than the price of your home should not vary by very much.  If the agent has not performed an actual CMA and presented it to you, than that should make your decision a bit easier.  The one part of this you do want to make note of is what kind of pricing style they would suggest for your home and area Market Priced or Action Priced ! 

These are the most important question you should be getting the answers too, and the very last should be about commission, don't discount a company or agent because of this answer decide who you think will do the best job and get your home sold ! 

Your Pricing Options When Selling Your Home !

One of the first things you should discuss with your Realtor after you have decided to list your home is not what price you should list your home is what kind of pricing style will work best for your home and neighborhood. In today's market where you price your home will ultimately factor in how long it will take to sell, but it's often the one thing that Realtors tend to not discuss.  Before you list your home you should meet with all the decision makers that will be involved in the process and decide how long you want the process of selling your home to actually take, than discuss with potential Realtors how they will get it done within the timeframe your looking for. 

Overpriced

Many sellers will over-price the home with the thought of it gives more room for negotiation.  It's unfortunate that technology has began to undermine a sellers way of thinking since we are unable to express that thought to potential buyers who are viewing your home online.  Your home will be bypassed by those potential buyers in your price range of what your home is actually worth.  For buyers looking in the price range of where your home is priced they will be disappointed because the competition will offer much more than yours.  As an overpriced listing your home ultimately won't sell until you at least become priced for market value.  An overpriced listing is when you are priced $15,000 higher than the best comparable home in the area.

Market-Value Priced

This is where the majority of the homes are priced in todays market ! Your in the range to get your home an offer so paying attention to feedback from Realtors and buyers is key.  If your seeing the same feedback about simple fixes that might help your home sell, you should consider doing those repairs. Taking feedback about clutter or lack of curb appeal than cleaning out a bit could make a world of difference.  If there are larger issues being brought up in feedback you may want to talk to your agent about either A.  Adding a home warranty or B. Adjusting the price.  Market-value home should sell with a difference of only 3% - 5% from the list price, within 90-120 days of being on the market.

Action Priced
This is where you should price your home if you want to sell it in the next 30 - 60 days.  Many people assume that action priced means that it is below market value, but that is not actually the case.  You will price your home between $10,000 - $12,000 below your highest comparable homes.  This is where technology will work to your benefit because they buyers will immediately see the value in your home ! Homes that are action priced will often be the homes that receive numerous offers, that result in offers going above and over the list price because of the large amount of buyers who will be seeing it.

Keeping in mind that each persons reason for moving is different is the most import reason you should sit and speak with everyone involved in deciding on the timeline and than discussing with the Realtor what they will do with the pricing to get your home sold.  Remember the follow-up and feedback with your home is very important as well, so choose a Realtor who will give you the Full-Service treatment when they are selling your home ! 

For Sale By Owner The "Unrepresented Seller"

I recently did a video blog regarding those who are trying out the route of "For Sale By Owners", more commonly referred to in the real estate world as the unrepresented seller.  In the video blog I addressed the most common reason that homeowners choose this route, which is "saving on the costs of commissions" you can see the full video blog here.  After a few additional questions from my readers I will addressing some of the other reasons that you may want to reconsider using a Realtor to get your home sold ! 

1. Pricing

• Most people would assume we are talking about overpricing, but there is the exception with the market picking up that you may UNDERPRICE your home.  Many homes are receiving multiple offers because buyers have begun making purchases before the interest rates begin to rise anymore than they already have !

• Another aspect of pricing that you have to keep in mind is how quickly do you want to sell ? This is very important with someone who is invested in doing it on their own is so you know exactly how much time this will take you because time is money.   

2.  Unable To Qualify Buyers 

• Most homeowners will ask general questions to buyers to see how "serious" they are about purchasing a home but they might not know the questions they should be asking.  Even a well paid professional with good credit might not qualify for a home due to excessive debts, or a couple just starting out might be able to qualify although only one of them are working.  General questions like what they do for work, income, or credit score are often not enough to truly qualify a buyer.  

• Mortgage Pre-Approvals are often the one thing a seller knows to ask for but again unfortunately they are at a disadvantage because they will not know if the buyers application has gone through an underwriting process.  Most Realtors will have a reputable mortgage company they work with that will be able to give homeowners some piece of mind after a 2nd pre-qualification is done by the buyer, knowing when you should ask for the 2nd approval and when it is not needed is very important.  Often times bigger is better is what a homeowner will assume BUT it is actually quite the opposite, again you need to know the questions to ask so that you are protected. 

3.  Advertising Abilities & Follow Up

• Each website you post your home on will cost between $500-$1000 per ad, and this is only usually for a short period of time.  There are some major websites you will want to put your home the most obvious being MLS, Zillow, Trulia, Optimum Homes you will need to reach possible buyers.  Free advertising sites like Craigs List will often bring you many leads, but the majority will not be qualified buyers - remember quality of quantity is very important. 

• The contact person on these ads are often sold to Real Estate Agents who purchase by the zip code, you will need to specifically ask when you are buying each ad space who will be the contact person.  In some cases you might not be able to be the contact person, and those leads will be sent out to Real Estate Agents who may or may not take them to see your listing.   

• Once you have bought your ad, bought the right to be the contact person if the website allows next you have to figure out how you will keeping all the records of these people, following up, scheduling appointments and most importantly following up after the showing.  Each website will pass along the buyers information to you differently so you will need to have a system before you begin receiving the leads.  

• Showings can become tricky because of those sites that did not allow you to be the contact person because of the ad space already being purchased by other real estate agents.  My advice is although you are doing this to save the commissions many agents will bring you qualified buyers while working in a Buyers Agent capacity.  You should be prepared to speak with these agents and know the questions to qualify them as a Buyers Agent so you don't lose out on the potential buyer.  

4. Knowing The Procedures 

• Negotiations are a particular point where you need to know the procedures, many homeowners assume that an accepted offer that they are somehow bound to the buyer and visa versa, that is not the case.  No one is bound until contracts are FULLY signed, and down payments are placed into an attorneys escrow account.  

• Contracts need to be written carefully, but you must know the right questions to ask so that when your attorney writes up the contract of sale everything needed into the contract is there to protect you. Things such as closing dates, what will or won't be in the home, what will and will not represented, and specific financing terms are often overlooked by a homeowner after it has been agreed upon during the negotiations.  Unfortunately what you might have verbally agreed to does not have to be done unless it is written in the contract.

• Knowing the procedures often involves Town & Village Laws & Building Codes, knowing what you will need to legalize and what you will not need to legalize is a very big part of selling your home.  Not only does it affect what you can legally advertise, expect the bank to allow you to include in the appraisal, and what will need to be included in the contracts are major key parts of selling your home.

5. Inspections & Appraisals

• Home inspection is a large hurdle during any deal, because it  can move along smoothly or make the deal much harder to negotiate.  Many homeowners will feel the need to speak on every detail that the home inspector mentions, and many times these will be non-issues that don't need an explanation but an overbearing homeowner can cause buyers to panic.  The Realtor is able to first advise on what issues might require negotiation, or put the buyers mind at ease. Often times speaking about these things with the home inspector is a normal part of the home inspection and inspectors will welcome the conversation to help their clients.  

• Bank appraisals are the most important part of selling your home, this is when you have to prove to the bank that your home is selling for a fair market value.  You will need to pull comparable homes from the area within the criteria that they will allow.  If your home is overpriced and you are able to obtain a buyer, the bank will alert them to overpaying when they receive an appraisal that does not allow them to mortgage the home for the price agreed upon.  Almost always there will need to be an agreement on a price change when this happens because buyers will have the right to not continue with the purchase.   

This may seem like a lot and it is which is why hiring the right Realtor is always the best choice for a homeowner who is looking to sell.  Remember their is no limit on how many Realtors you can interview before listing your home, so instead of spending months and endless hours trying to find a buye spend a few days and find yourself a Full-Service Realtor who will earn the commission by working harding to get you top dollar for your home ! 

How Long Should I List My Home For ?

As you will see the way to determine how long to list your home for is according to the market.  So really although it is up to you to choose, you should be sure you are basing your decision on solid facts! In today's market it takes more than listing your home on MLS get it to the closing table.  You need an agent that is actively marketing your home in all venues internet presence, direct mail and open houses are just some of what needs to be done.  For today's market you should be listing your home with an agent for atleast 180 days, with the option to be released if they are not doing all that they agreed to do to market your home.  
Coldwell Banker Residential Brokerage does offer you this gurantee, if we are not doing everything we agreed to do, we will release you from the contract with us at anytime! 

Reasons for a 30-Day Listing 

• If your market is steaming hot and homes are flying into pending status within days, your agent might be agreeable to a 30-day listing.
• This way, if every other home on your street is selling within three weeks and yours is still sitting without an offer on day 29, you can easily get rid of your agent and hire somebody else.
• Before you refuse to relist with your agent, though, first look at the price. If your price is too high, no agent is going to sell it.

Reasons for a 90-Day Listing 

• In normal markets, 90-day listings are more common.
• During the first 30 days, you should get a lot of showings if you are priced right.
• Ask your agent for buyer feedback and follow up on suggestions to improve the condition of your home and / or price.

Reasons for a 180-Day Listing 

• If the average DOM exceeds two months, you're probably trying to sell in a buyer's market and will need a longer listing term.
• If you go into contract on a 90-day listing, your listing might expire while in escrow. In that event, your agent may require that you extend the listing, so it makes more sense to start out with a 180-day listing.
• Ask your agent when you initially sign the six-month listing if the agent will give you a personal guarantee that you can cancel at the end of 90 days if you are unhappy. If the agent won't give you that guarantee, then list with an agent who has more confidence to make you that offer.

Reasons for a One-Year Listing 

• If you live out in the boondocks where nothing ever sells under one year, then a 360-day listing might be the norm in your area.
• Unique properties, large parcels and expensive estates might take longer to sell because they may appeal to a limited number of buyers.
• Private islands and lavish vacation homes require a longer marketing time, and agents might not be willing to shell out the big marketing bucks for a short-term listing.

What You Should Do Before You Extend Your Listing

If your home has been on the market throughout the spring and summer the listing is likely to expire soon, but it may not be in your best interest to pull it off the market just yet.  Now I am not saying to stick with the broker that your using in order to keep it on the market if your not happy with your broker or you want to interview others than by all means do so.

Anytime I take a listing that will be on the market during the fall/winter season I always let my clients know that business does not stop during these months but you will see less activity.  This is actually better for homeowners, you may not have the quantity of buyers but you will have a better quality of buyers.  If someone is out in snow and cold weather you can bet that they are serious buyers, they aren't just out in the cold for no reason.

Now if you listed during the "busy" season, take into consideration how hard did your broker work for you while he/she had your listing?

• Did you recieve feedback after your home was shown ? It is not always easy to get feedback from other Realtors or Buyers but it is our job to get it for you, a week is more than enough time for your Realtor to inform you of what they thought of the home.   

• How often did you review your market position ? The spring and summer months provide alot of inventory for buyers to choose from so keeping on top of your market is very important.  How often did you and your Realtor discuss your homes position compared to others that were on the market, and those that had come off ? 

• How many open houses did they do, and what was the status of those buyers ? Each Realtor has a different opinion on open houses, I personally think they are important because it gives your buyers an immediate way to see your home.  You should have discussed this with your Realtor before you listed, if you didn't I suggest you do so before extending your contract with them.  You can not be angry if there are none or not enough if you did not discuss what your expectations are.  

• Did you recieve any offers ? Not all offers are good offers, just because your home received an offer does not necessarily mean it was worth you taking.  Did your broker try to work that offer ? Just because someone offers is very low does not mean that this is all they are willing to give.  Sometimes you have to work an offer for quite sometime to make it worhtwhile, but you will never know unless you have someone who is willing to put in the time. 

Before you extend your contract with your Realtor you should take the time to review in detail all of these things regardless.  Pulling your home off the market isn't necessarily a good idea, even 2 or 3 months off the market doesn't change the fact you were trying to sell it. Thanks to technology it takes about a half a minute to find out how long someone has been trying to sell for and buyers do quite a bit of research on their own.  

There are a few things you will need to do if you plan on extending that you may not have thought of, it is not just about signing the report of change form, you will want to update your listing.

• Perhaps re-word the description sometimes less is more, if you have a lengthy description it may be too much or visa versa.  
• Update your pictures, the change of seasons will be upon us sooner than we would like to think so be ready to take updated pictures of your home so your listing doesn't look dated. 
• Update your show instructions with your Realtor, if you think you will need your agent to attend more showings discuss it so when those quality buyers want to see your home they can !

If your new to selling a home than you should refer to my blog which explains the common terms and paperwork that you will need to understand Click Here For Blog.

I will be writing another blog this week reviewing exactly what the difference is between a full service real estate agent, and what other brokerages will offer, I will link it to this blog once it is completed.

Do You Have To Sell Your House ?

There are of course times as a homeowner that you may have put your home on the market, and than life happens and you are either no longer able to sell, or you simply have decided this is not the right time for you to move.  Now depending on where you are in the process of selling your home is really the key factor here.  

On The Market With No Offers Or Contracts

If your home has been on the market for a day or a year, but you are not in contract you have the right as a homeowner to withdraw the listing from the market.  Now there is a difference in withdrawing and releasing your listing so you should pay close attention to which one the company is agreeing to.  

• Withdrawal - It means that the company is willing to pull the home off the market, but you will not be able to re list your home with another company until the original date of expiration.  
• Release - This is where the company is not only willing to pull the home off the market, and allows you to re list it with any other company before your original listing agreement.  IF you are pulling your home off the market because you are not happy with the company and the work they are doing for you this is what you would want for them to do.  

Things happen day to day, and sometimes a homeowners reason for selling can change quickly.  If your circumstances change and you do not want to sell for personal reasons your best bet is to call your agent and just be honest with them.  

We never want a homeowner to feel as if they are being forced to sell their home, but our job is to advise you what all your options are.  With the fall and winter coming upon us I am hearing many sellers say they are not sure they want to stay on the market because they believe that the market is slowing down.  This is only true to a point, and I have written about this quite frequently.  Although we do not have the same quantity of buyers, we have a better quality of buyers because those who are out looking in these months are considerably more serious than those who come out "browsing" in the spring time. 

On The Market With Accepted Offers

Now usually if you have gotten this far and accepted an offer something pretty drastic must have happened that you are not able to sell.  If you simply have had a change in circumstance and must stay in your home than you must advise the buyers in a timely manner, you also must keep in mind you will have to reimburse them those fees that they incurred such as the home inspection.  

Many times I see this happen is because a homeowner discovers they owe more than they thought, and the accepted offer is not what they need to sell.  You have a few different options before backing out of the deal, first you MUST inform the buyers immediately of this change is circumstance.  If you have suffered a hardship than a short sale may be an option for you, but your buyer would have to agree to this because it does change the terms surrounding the sale.  Your other option is to simply bring the money that is missing to the closing table.  

In either one of these circumstance again being honest with your agent is not only a must but you must inform them that these things could be potential issues before you list your home with them.  I can't tell you how many homeowners run into an issue because they hoped it wouldn't be a short sale and attempted although not to be manipulative kept it from their agent.  

Your Home Is Under Contract 

This is where it can get tricky and you really must be careful.   Most of the time the only provisions to be able to get out of a real estate contract is set up for the buyers.  If you are in a position where you truly can NOT sell your home than you should know that it is not always as easy as the buyers agreeing to it.  

• You will have to reimburse the buyers their out of pocket fees (deposit, home inspection fee, title fee, lawyer fees, survey fees, etc.)
• You do open yourself up to be sued by the buyers, in which case you can be forced to sell them the house.  They can sue for specific performance because your breached the contract, although this is a lengthy and costly process not all buyers are willing to just walk away.  
• Unfortunately you must also keep in mind that your real estate agent did their job, they brought you a buyer with a valid commitment to buy your home.  It is not up to the agent whether or not they pursue being paid for that work, it is only up to their company.  
• The buyers agent will also have the right to seek their compensation for bringing you this buyer.  Even if the listing company does not want to seek their payment, they will be sued by the buyers broker.  This is why many times listing companies are not left with much choice about whether or not they request compensation.  

For those buyers who are reading this because they are currently in the process of dealing with this, my best advice to you would be to try and salvage the deal if you can.  Keep in mind that life can throw curve balls at homeowners that they did not expect, and they may really not be able to sell.  It is obviously upsetting to lose the home, but there are many homes on the market your buyers broker will work hard for you but their was no way for them to predict this happening even for the listing agent many times this call comes as quite the shock. For all parties involved open communication and honesty is the best way to deal with this kind of situation!

What Your Should Ask Before Re-Listing Your Home

Many of my listings happen to come from expired listings, because of that I meet a lot of homeowners that are hoping a new Realtor will get their home sold.  Let me first off by pointing out that I am going to list the questions you should be asking in order and the most important !

1.  What Kind Of Company Do They Work For ? 
The very first question I hear from a homeowner is "What Is Your Commission" ? This should actually be your LAST question, it does not matter what a Realtors commission rate is if they don't do what needs to be done to sell your home.

• Is the company individually owned, or is it owned by a company ? In most cases bigger is always better because they are affiliated with other companies that can help get your home sold.  You can't just assume that because they have the named Century 21, Coldwell Banker, or Prudential does not mean owned by a company because these are franchises.   Coldwell Banker Residential Brokerage is company owned, that is why and how we are able to offer so many options like in-house mortgages, home warranties, insurance, and a title agency. 

2. What Is Their Internet Presence, and How Do They Create Your Listing ? 

• What do they do for online advertising ? Everyone puts their listings onto MLS, what you want to know is how many other sites will your home be on, and who will be the point of contact on each of those websites ! Many homeowners don't realize but the ad space around all listings need to be purchased by your agent otherwise the point of contact is not your agent, but rather the agent who did purchase it.  Another important part of Internet presence is do you know if your listing is actually coming up in a search and being viewed, you should find a company that can track at least the number of views your getting or how many times your home came up in someones search.  

• What do they do to create your listing ? The first impression your house gives is by it's listing does the agent stage your home or professional photos, buyers are very visual so you want to be sure that you catch their attention right away ! Another often overlooked aspect is what your listing will actually have written on it ? You want to make sure that it has a detailed description and directions many buyers look to the directions to figure out the area that it is in.  The best way to gauge all of these things is to ask to see the agents other listings and see how they present ! 

3. How Available Would Your Agent Be ? 

• How available are they to you ? This is another question that homeowners often forget to ask, you want to know how often your realtor will be following up with you to give you updates on your home, feedback from Realtors, and most importantly what is going on with other homes that are selling and coming onto the market while your on the market ! You want a realtor who has a system to keep you up to date on all of those things going on in the market around you, this way you know how and when you will hear from them.  

• How available are they to buyers ? This is a very important question to ask because how quickly they respond to inquiries will decide how many buyers stay interested in your home.  Statistics show that 60 minutes after an inquiry is sent, the chance of reaching that potential buyer decreases to less than 50% !  The best way to find this out is after your appointment place an inquiry with them about one of their listings and see how long it takes for them to get in touch with you !  You will also want to see if they will attend showings that are being done by other brokers.  Granted the other brokers will be the ones talking to the buyers you want any questions they have, or any pertinent information about your home to be answered accurately and the only way they can be sure that happens is if your agent is there.  Now, this is my disclaimer, even the best agent will not be able to attend all showings but you should make sure they have a follow up plan in place for the ones they won't be able to attend.  

4. What Technology Do They Use To Help Their Listings ? 

• This question is more of a general question, you want an agent who uses all the tools that are available out there to help get your home sold.  You also want someone who understands the basic technology that is being used in today's market such as the social marketing, virtual presentations, online newspapers and forums ! These are the tools that bring buyers to your home, the more places your home and your agent are the more chance the right buyer for your home will come across it.  I happen to offer some additional tools for buyers who look at my listings like that ability to chat with me online, or giving them the ability to actually schedule an appointment anytime at their convenience! 

5. What Is Your Home Worth ? 

• I am sure your wondering why this at the bottom of the list, the reason why is because as long as the agent has provided you with a Comparative Market Analysis than the price of your home should not vary by very much.  If the agent has not performed an actual CMA and presented it to you, than that should make your decision for you ! The one part of this you do want to make note of is what kind of pricing style they would suggest for your home and area Market Priced or Action Priced !

These are the most important questions you should be getting the answers too, and the very last question should be that of "What Is Your Commission", don't discount a company or agent because of this answer decide who you think will do the best job and get your home sold ! If you hire an agent that your not sure can actually sell your home to save 1% on commission you will only end up spending more time and money living and maintaining it rather than moving onto your next home ! 

What To Do When Your Home Isn't Selling

Now you might be thinking, here is another real estate agent trying to get a price break but I am actually going to give your some other insight onto why your home might not be selling ! Price is just one aspect but condition and availability are just as important !

So let's begin with the "Condition" this does not only apply to what your home looks like when it is seen in person, but also about how your listing presents itself to those looking online !

Pictures

• Prepare For The Photos: You want your home to show well so before your photos speak to your Realtor about some staging.  This doesn't mean you need to hire a professional or rent furniture many times simply re-arranging your existing furniture and a bit of de-cluttering can go a long way.  

• Professional Photos: I am a firm believer in spending the time and having a professional photographer come and take pictures of your home.   They are able to showcase your homes attributes with angles, and staging that can make a huge difference.  

• Updated Photos: - Keep your photos up to date with the changes in season, this is very important for those homes listed in the winter because spring gives you the opportunity to show off your "outdoor living space"! 

Now "Availability" this covers much more than just "How easy it to show your home", so let's take a look at some of the other aspects you as the homeowner may not think of.  

Internet Presence

• Where Does Your Home Place? This is a very simple thing to check and correct, go on as a buyer and search for homes that share the same basic characteristics (style, bedrooms, baths).  If your home does not show up within the first 10-15 houses than you should consider finding a way to get your home up to the top.  You should do this with your agent so they can rule out homes that may come up before you, but are not the "competition" you may think.  

• Where Is Your Home Listed?  The most common place you ask about your home being listed is Multiple Listing but where else are they being promoted ? Many buyers from the city & the boroughs look at publications like New York Times and Redfin.  Others will utilitize quick apps while they are around town viewing other properties or open houses on websites like Trulia or Zillow.  You should also be tracking how many views your home is getting on at least the top 6 or 7 sites that are used which also include Optimum Homes, Realtor.Com, and Yahoo Homes to name a few.  
• • How Quickly Do Buyers Receive Information: Buyers who make online inquiries expect a timely response. Statistics show that buyers who do not receive a response within an hour of placing the inquiry will likely not return the call of your agent.  Your agent simply calling them immediately to at least acknowledge the inquiry and than setting up a time to speak with them more about the home can be the difference ! You will want to find out what set-up they have to receive these leads do they receive it via email, voicemail, or does the office handle the inquiries.  

  • Who Receives The Inquiries On Your Home? This is often a big problem for most homeowners and they don't even realize it.  No matter what site your home is on with the exception of MLS SELLS the ad space surrounding your listing ! If your agent has not purchased this space they will not be the contact person for inquiries ! 

  • How Often Do You Invite The Buyers? How do you invite the buyers your asking, its very simple you hold an advertised open house.  Often times buyers will spend their weekends visiting open houses so why not take the opportunity and the chance to let them see yours !  
  
  
  If your home has been on the market for over 6 months and did not receive any offers, than unfortunately the only remaining factor is the price.  There are very rare exceptions where this is not the case, but you should take the time and speak with your Realtor for their professional opinion.