Selecting A Chesterfield Real Estate Agent
For Sellers

There are over 10,000 active REALTORS^® in Chesterfield and the surrounding St. Louis area (and this is not all of the licensed real estate agents). What you probably do not know is that the National Association of Realtors^® tells us that in 1-5 years, over 80% of those REALTORS^® will have gotten out of the business. That is a national statistic. You’ve probably heard a family member or friend say, “I’m going to get into real estate and make a pile of money!” That’s probably why there are so many “real estate agents”. In some cities, almost one percent of the population either has or at one time had a real estate license. The truth is, you can make excellent money selling real estate – but few agents actually do. Most agents are part time, and only a small percentage of real estate agents do the majority of the business.

You need a full-time real estate agent who loves to sell real estate. For them, it isn’t work . . . it’s a pleasure. They are up early every morning, out in the field, going to preview other agent’s listings. They know the inventory in your market. And when it comes time to sell your home, your agent packages and markets the property well. Your agent is at local meetings, making sure other agents know about your home and learning about new listings so they can share the information with their buyers.
 
You also need a real estate professional . . . after all, if you have a $1,000 tax question; you would seek an accountant’s advice, right? If you have a $100,000+ real estate question, you need a real estate professional! As with most professions, experience pays in real estate. Experienced agents know the market and the marketing process. They'll have the best chance of quickly and smoothly helping you to buy or sell your home. The easiest and most effective way to narrow the field is to check out their credentials. Agents that have a CRS (Certified Residential Specialist) designation have completed a mandatory curriculum of course work, and have met performance requirements proving their experience. That’s why the CRS is considered the CPA of real estate. When you are ready to buy or sell, whether you have a cousin who is a real estate agent or not, you owe it to yourself, and your family, to at least call a real estate professional for an interview. This is a business transaction!

Some “authorities” will suggest that home sellers ask questions about how many homes the agent sold in the last 12 months, their time on market, and similar questions. Unfortunately, their answers may not be accurate, and you have no easy way of verifying them. Worse, you really don’t know if 4 is worse than 15 or if 25 is too many. Determining quality is a little easier and a lot more important, so ask for references and look at marketing materials they have produced for homes they have sold. Unfortunately, the references may be the agent’s cousin and mother-in-law; however, the marketing materials will give you some reasonably good insight. Your best and most reliable assurance is whether you see the CRS designation on the agent’s business card and other materials.

 

Your First Step – Call them on the phone (maybe even 2 or 3 times)

 
Make a note of how quickly they return your call(s). Remember they are supposed to return calls to you when you call them. Anyone who takes over one day to return your call will probably not be the person you want. Also, pay attention to who returns your call(s). If it is an assistant and not the agent, you may be discovering that the agent you want to hire is not really the person that will be providing the service to you. They may have other agents who work for them who actually do the work. If you don’t mind buying one product and being given a substitute, then this isn’t a problem; however, if you want to actually get what you are paying to get, you may want to look for someone else.
 
Ask them for their web site address and check it out. (If you have the address before you call, check it out first.) If they don’t have a web site, they are missing a vital area of marketing they probably aren’t really full time real estate professionals. If they have a web site, see if it offers useful and worthwhile information and services. Specifically, look for the ability to search the local MLS, not just realtor.com or some other delayed aggregation site. Does it provide community, school, and other information or just self-promotion?
 
Ask if they have a CRS – if not, talk to another agent.
 
Is the agent part of a national network? This can be especially important if you're selling in one city in preparation of moving to another. Your selling agent can refer you to a professional, compatible agent in your destination city — and keep in close contact with that agent so both your selling and buying efforts are closely coordinated.
 
Tell them what plans you are considering and give some background information. Ask them what they suggest as a course of action.
 
Ask if they like doing real estate? The answers you get to this one might surprise you.
 
Are they going to sell you a house or are they going to help you find and purchase the home you want?
 
Get a feel for their personalities over the phone. You will be spending a lot of time with them to finalize all of your plans. Do you think you can work with them? If you’re not comfortable, talk to someone else.

Your Second Step - When You Finally Meet
 
Does the agent take time to do a thorough inspection of your property? Do they take notes and REALLY LISTEN to your particular needs and concerns? 

Does the agent seem primarily interested in sharing expertise and market knowledge in an honest and straightforward manner? Or does the agent seem more interested in telling you what you want to hear? The worst time to secure the services of a "yes-man" is when you're entering a transaction involving something as important as your home. You need straightforward, reliable information — even if it's not especially flattering regarding the home you're selling — or very encouraging regarding a home you think you might want to buy.

Be cautious if the agent is recommending a listing price on the first visit. While a good real estate agent knows the market in detail, none are so good that they can consider all of the varied differences of other properties in comparison to your property without some thought and analysis AFTER seeing your property. If they are recommending the price and expecting you to list your house on this first meeting, they may be more interested in their time and income than they are in your getting the best value for your property. You should expect the first meeting to be for them to learn about your property and your needs, and having a second meeting to discuss a detailed comparative market analysis and a comprehensive marketing plan. 

Also, be cautious of anyone who suggests they can get an unusually high sales price that is not supported by market data. An agent might use a high listing price to secure a contract, only to seek a lower price later, after little traffic is generated at the initial price level. Meanwhile, you've lost what can be the most critical time period in selling a home — the first weeks immediately after it's listed! 

Ask your Chesterfield or surrounding St. Louis area real estate agent to discuss their marketing plan. How do they plan to sell your house? If the agent does not discuss marketing channels like the Multiple Listing Service, sending info about your home out to the agent community, classified advertising, and the Internet, most likely she or he doesn’t have much of a strategy. The marketing program is critical to generating demand for your home!

Check to make sure that the agent that you are interviewing will be the person who works with you and returns your calls. Do they seem to have too many irons in the fire or will they have time to give you the attention you need and deserve? 

For a detailed checklist to use in selecting a Chesterfield real estate agent to market and sell your property, take a look at our printable checklist.

Contact us via the web, or call us at (636) 861-3790!