Picking a Broker

It is always a good practice to sit down and meet with your potential broker and hear their marketing pitch. Signing an agreement – up to six months - with someone who often times is a stranger isn’t always an easy proposition. The well-read New York City based blog, BrickUnderground recently put together a comprehensive guide for consumers when it comes time to hire a broker.

We found many of the questions to be helpful for both prospective home sellers and brokers looking to acquire listings.

First, everything comes down to examples and anecdotes. People gravitate toward and buy into concepts with the use of stories. Two of the first three questions the guide poses begin with “Give me an example of.” As a home seller, you want to know what the broker has done in specific detail, especially during their interactions with clients. After all, you will be the one working with the broker to get your home off the market.

The same goes for asking about how you will communicate. It is good to set a fair and balanced schedule for updates on the property’s progress. While some agents will be in constant contact with you, others work on a difference schedule. Before hiring a broker, set guidelines to track the status of your home.

Make sure you have the broker explain their specific value as well. Many brokerages are equipped with the same tools in terms of databases and Internet presence. Ask what separates them from the competition. What can they do that the others cannot? This will help differentiate the good brokers from the great ones with something extra.

Lastly, like any good interview, ask for references and/or search for testimonials. This is usually the final check and if you are at this point you probably know who you want to hire. But, as always, it’s good to be thorough during the entire process. Buying or selling a home is often one of the largest financial and personal decisions of your life. Treat it like one when you choose a broker to work with.

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