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Many sellers don't understand agency and how it works. The first thing you should know is that Agency is different from state to state so what you knew in one state can be totally different in Oregon. The second thing is that there are several different types of agency. An agent can work in three types of agency; Buyer's Agent, Seller's Agent or as a disclosed limited dual agent.
A seller should form a relationship with an agent who will work for them as their seller's/listing agent. This type of agent can provide a wealth of knowledge and information about pricing, market placement, disclosure, laws, and they will negotiate on your behalf.
The most important thing for a seller to do when selecting an agent is to find one that they are comfortable asking questions of and feel that the agent gives them informed thorough answers. That comfort level should also include mutual trust and an easy, open line of communication. The agent should ask questions that tell them what you need and want. Example: If you are in a situation where you owe more than what you can get out of the house the agent should be able to present you with several options, one of which may be renting the home which does not give them a listing. By asking you about your future plans the agent can tell you if there are conditions you should put on your sale and what the effect of those conditions will be on a buyer who is looking to purchase your home.
Here are a few questions to ask a prospective agent prior to asking them to work with you:
1) Are they licensed and is their license up to date?
2) Do they work part-time or full-time?
3) What type of training do they take to stay current with the needs of buyers and what marketing techniques do they employ?
4) Do they just take the state required minimum or do they go to additional seminars and conferences?
5) Ask them if they will take a lower commission. If an agent is willing to give away their income, how can they help you to negotiate for the best price on your home?
6) Do they have a written satifaction guarantee and can you see it?
7) Are they willing to do a competitive market analysis for you and explain why pricing is important?
8) How do they intend to keep you up to date on the marketing that is being done on your property?
9) What do they expect from you as a client?
10) Do they have a staging program for your property?
11) If you own a rural property or a specialized type of property such as historic, commercial, business, bare land or industrial ask about their knowledge in that area.
Example: Rural Property - Do they know about well flows, septic systems, joint road agreements, standards for shared wells, exclusive farm and forest use zonings, tax deferrals and financing of rural properties.
12) Ask them how they get paid and see what they tell you.
13) Ask how they handle your property, potential buyers and presentation of offers when they are out of town.
You hire an agent to protect your interests as a seller and they are paid well to do this. If they do not have the knowledge to help you with the decisions that you need to make, when purchasing the home they are not the right agent. If the agent you are talking with recognizes that and tells you, it means they are a good agent who recognizes the type of properties they cannot handle. We as agents have properties that we have decided are not our forte. If I cannot handle a property for you I can always recommend someone who is qualified. Not every agent can be all things to all sellers.
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