When is it okay to switch Realtors
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Dear Phyllis,
As trustee, I will be listing my uncle’s home for sale. My question is it ok to switch Realtors before the contract is signed? The probate attorney recommended a Realtor that they often work with. We met at the home, and he provided me with a pricing recommendation. He emailed me the listing contract, but I thought the asking price was too low. A neighbor recommended another Realtor whom I contacted, and they suggested a much higher asking price. I want to hire the second Realtor, but I feel an obligation to the first Realtor. When is it okay to switch Realtors? LGT
Dear LGT,
Hiring a real estate agent is similar to a job interview. Ethically, you can choose either agent. You can tell the first one that although you truly appreciated his time, you decided on another agent. If you are uncomfortable making that phone call, you can do so in an email or have the agent you hire make the call. But a little advice, if I may:
The biggest mistake a seller can make in this market is overpricing a property. Many homes are selling quickly over asking price. The asking price is your decision, not the Realtors. I suggest that you first compare both real estate agents’ marketing plans:
- Review each agent’s open house schedule, including broker open houses. Homes that sell quickly usually receive maximum exposure through weekend open houses and the Broker’s Caravan.
- Examine each agent’s advertising plan. In addition to online marketing, make sure they advertise open houses in print media to reach the widest audience possible.
- Compare the recommendations each Realtor makes regarding repairs, cleaning, landscaping, and other improvements. Even a simple landscape cleanup can significantly boost curb appeal and increase the final sales price.
Unfortunately, some agents suggest an inflated listing price to win the listing. Later, they encourage the seller to accept a lower offer. Therefore, discuss pricing and comparable sales carefully with the agent who presents the strongest marketing plan. This conversation should help you better understand the pricing strategy and market value of your home.
Most importantly, remember that regardless of which real estate agent you hire, you make the final decision on the asking price.
Be certain that the Realtor you hire understands the probate process. An experienced agent will simplify the process for you. My condolences to your family.
Call Phyllis @ 818 790-7325 or email her at [email protected] with your real estate questions.
