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What does the realtor think your house will sell for?

Here’s where a lot of people make their first mistake. Everyone wants to think that their house is fantastic and worth a lot of money — and that they’ll actually get that high asking price. So the knee-jerk reaction might be to choose the realtor who gives you the highest estimate. In order to get an accurate idea of what your house is worth, you should have two or three people look at it. If two come back with a price of $400,000 and the third says $500,000, of course you’ll want to believe the latter! But it could be that the high estimate is too high. And if you start with a price that’s out of reach, many potential buyers won’t even look at your house. Ultimately, it could end up on the market longer (which you don’t want) and you’ll have to lower the price anyway which not only leaves buyers with a bad impression, but also puts you right back to that lower price anyway. Ask potential realtors how they came up with their figure and what a realistic offer might be.

Ask for referrals from friends, relatives or neighbors who've bought or sold a house in the last few years.

Did they work with a realtor that they’d recommend? Did they have any bad experiences with anyone? While a good match for someone else might not be the one for you, it helps to get a sense of the big picture. If the house is in the same neighborhood, the couple got a good price and they liked their agent, well then they might be your match, too. If their property was vastly different, the economy was different or they like to work with a Type-A go-getter and you prefer a more laid back approach, then keep looking. 

Ask for references from your potential realtor.

Can he or she provide you with the names and contact information of some happy former clients? Ask these people why they were satisfied. Note how long their house was on the market.  Find out how close the asking price was to the accepted offer.

Does the real estate agent have experience with your type of property?

If Uncle Joe’s wife’s cousin sells commercial real estate and you have a 4-bedroom house in the country, you might be better off going with someone else. Not that this relative-a-few-times-removed isn't a good guy — or even a good realtor — but you’re going to want someone who knows the comparables in your area. Someone who has experience selling houses like yours and who would be able to speak about the neighborhood, businesses and schools in your area.  

How would the real estate agent market your house?

Your realtor should be able to justify why their suggestion would be the best action plan for you — by explaining what works and what doesn't in terms of generating interest in similar homes. Keep in mind that National Association of Realtor surveys consistently show that 90% of homebuyers begin their search on the Internet. So make sure that a strong online presence is part of the plan! Open house or no open house? Some sellers feel strongly one way or another, but take a few minutes to listen to the agent’s reasoning behind whether it’s a worthwhile option for you.

What do they expect from you?

It’s pretty well understood that when you’re selling your house, you need to keep it reasonably clean and tidy. But what else? Do you need to make major changes to get the price you want? Do you need to fix any maintenance issues? Would cosmetic changes get you a larger offer?  How about professionally staging your home — does the agent think it would be helpful and are you willing to do it? 

Before you make your final selection take a minute to check out their current listings. Ask about credentials and specialties and how long they've been in business. Experience is important, but so is success with your type of listing. And finally, is this someone you can trust? Do they do what they say? Will they give you support and answer your questions? That’s how you’ll know which realtor is right for you.