In this classic scene from “Hamlet,” Shakespeare offers his perspective on the way in which people abandon one who is down on his luck. Conversely, when a person advances to a position of importance, he attracts people of all kinds, including those he used to hate. Furthermore, a person with a lot of money will always have friends galore, while one who doesn’t will make enemies of any friend that he turns to for financial assistance.
Therein Lies The Rub
Shakespeare’s commentary, interestingly enough, offers a synopsis of one of the conundrums facing homeowners who are in the process of selling their home. Homeowners are often in the unenviable position of feeling that they should list with their friend or the “popular” Realtor. But is that really in their best interest?
Perhaps Not
I write unenviable because such a decision can turn into a real “hornet’s nest” for the homeowner. The virtues of such a choice depends on the Realtor. If the homeowner performs his or her due diligence and is confident that the “popular” one is best suited for them and equipped to procure the highest price for their home, then that’s a fairly good start. The homeowner must also ask herself, however, if she will be able to have a candid discussion with her friend if her home doesn’t sell and a different marketing strategy may be warranted.
Cavalier Approach
This is not a decision that can be made cavalierly. A poor choice of Realtors can literally cost you, the homeowner, hundreds of thousands of dollars. Ask yourself, what is more important to you? Choosing your friend/popular realtor or your family? In it’s simplest form, that’s really what the decision comes down to. You are making a decision that can have a dramatic affect on the financial state of your household.
Tips
Below are simple questions you should ask when considering Realtors. Questions that homeowners seldom ask:
- How do you handle the negotiating process once an offer is made on one of your listings?
- What is your perspective on confidentiality?
- Describe your approach with multiple offers.
- What is your sale price to list price ratio and how does that compare to your competition in town?
- What is the average market time of your listings and how does that compare to your competition in town?
Once you have completed the vetting process with responses to the questions above, determine with whom you will be most comfortable working and that will lead to the most prudent choice for you and your family.
What’s your opinion about the nuances involved in the process of selecting a realtor?
Can you think of any uncommon yet helpful questions that homeowners should ask?
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