Q. Tom, we are planning to sell our Alamo home. We have lived here for over 15 years so we have no recent experience working directly with a Realtor. My recollection from years ago is that the interview process used to meet and select an agent was tortuous in that the agents just went on and on about themselves, their companies and their marketing plans. What should we really look for in an agent this time around?
Great question! You’re right about the old listing interview process. When I first got into the business in 1989, agents were actually taught to talk endlessly for hours and hours about ourselves and our firms. Essentially, we tried to persuasively exhaust the seller into making a decision to sign a listing contract that night at the kitchen table. Thank goodness times and practices have changed. A professional Realtor should listen more than talk (how else could he/she understand what is important to you), be able to prove a recent track record of successful sales, exhibit strong negotiating and presentation skills, be organized and aggressive in their marketing approach for your home and possess a high degree of integrity as it pertains to representing your best interests. Also, your agent should be well versed in real estate contracts and risk management issues (we are in a highly litigious environment), be excited yet realistic about the saleable features of your home, convey the importance and benefit of pricing your home appropriately for today’s market and finally be someone who after you’ve spoken to for five minutes gives you a feeling of trust and dependability. I absolutely advise you to ask enough questions to verify the agent’s skills, successes and work ethic—remember, you are hiring them to protect one of your largest financial assets so don’t shy away from asking the hard questions that will confirm your best choice. The most qualified agents will, in fact, answer your queries completely and appreciate your diligence in understanding their credentials; the least qualified ones will appear uneasy and provide vague answers. So, get your checklist of questions ready and then trust your gut.
Q. How do you see the summer market shaping up – stronger, weaker or about the same as the last few months?
Right now it appears that the market is getting incrementally stronger which is a good sign for both buyers and sellers. A strengthening job market is not only adding to the number of prospective homebuyers but it’s also giving confidence to local homeowners that now may be a good time to ‘trade up’. Also, mortgage interest rates remain very attractive and some lenders are starting to relax stringent loan approval underwriting requirements. Home sellers whose properties are in above-average condition and premium locations are being rewarded with strong purchase offers from qualified buyers who recognize the long term value of investing in a great neighborhood that is nestled in an award-winning school district. If I’m a seller, I’d get my home on the market pronto because most buyers want to move in before the start of school in August. If I’m a buyer, I’d take the advice of my trusted Realtor and ‘step up’ with a strong offer if the right home in the right location at the right price pops onto the market. Keep in mind that our East Bay real estate market is far stronger than other regions of the state and country. Premium homes are actually selling fairly briskly and at what appears to be sustainable prices, too. As always, seek the best counsel available and get moving!
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