LIMCA - Long Island Comparative Market Analysis

Don’t list with a Realtor because they quote you the highest listing price. The oldest scam in the book is for someone to tell you what you want to hear to get your business then start hammering for a price reduction later. The best way to determine the listing price is to examine a well-researched Comparative Market Analysis combined with a specific marketing strategy, the Realtor’s experience and your individual needs. The Realtor’s marketing strategy will impact the price at which the home should be listed.

Don't list with a Realtor because they quote the lowest commission. As in any transaction, you get what you pay for. An agent who asks you to focus on the commission they will charge instead of the outcome they will produce for you probably doesn't have a sterling record of success for you to view. It makes no sense to pay $1,000 less in commission and receive $10,000 less in sales price. Instead, focus on what the Realtor will do for the commission and how that impacts the likelihood of getting the absolute top dollar for your home. Concentrate on actual performance, not empty promises.

Be careful when using a family friend or relative. It is often unwise to mix business dealings with friendship. If something happens, will the friend be more concerned with the friendship or business? Will they be willing to tell you the hard truth, even when you may not want to hear it? Instead of wondering about the answer, ask the friend to refer you to a good Realtor. They will receive a referral fee and you’ll keep your friendship.

Don’t list with a Realtor who won’t give you a guarantee. Everyone has heard Real Estate horror stories, of being locked in with a Realtor for 120 days, 180 days or even longer without producing the desired or promised result. Sometimes the Real Estate agent stops returning telephone calls or worse. As a consumer, you should are able to cancel a contract if the representations made aren’t fulfilled. If the Realtor doesn’t offer that kind of guarantee (in writing), why? What are they afraid of?

Don’t list with a part-time Realtor. As your home is one of your largest financial assets, make sure that the Realtor doesn’t lose that one stellar opportunity because they were working their other job.

Don’t list with a Realtor that doesn’t have a personal support team. No matter how much we wish it weren’t so, people (and Realtors) can only do one thing at a time. While the Realtor is working with you, whose is handling their other properties? If they’re working with someone else, who is handling yours? How good is the support within their own company can make all the difference in the world.

Don't list with a Realtor that dosen't have a sound marketing plan. A Realtor's job, in part, is to know how to market a property. The purpose of hiring a Realtor is to give your home as much EXPOSURE as possible. Let's face it. Many, small companies cannot give you the exposure you need. If your agent does not have a plan in place to market your home, hire another agent that does.

Don’t list with a Realtor that doesn’t have skill in negotating. This may not sound very important, but, it could mean the difference of thousands of dollars in your pocket. An agent with this valuable skill will more than pay for themselves in the long run. The general rule is, if you can make an agent take less than they want, ie: commision, then they are sure to have you get less than you want.

You should only list with an agency that doesn't get paid until your home is sold at a market price you are satisfied with. Only list with an agency that will bring to you the most services and bring the maximum number of qualified buyers to get your home sold quickly for the best possible price. List with an agency that will give you a written guarantee of satisfaction. If you are dissatisfied, Get a release.