The TRIBUNE, Real Estate Weekly, November 29, 2003

How to choose a Realtor to sell your home?

By Rob Feder, Patterson Realty

SAN LUIS OBISPO-  It is important to choose a real estate agent for the right reasons.

Two of the most important services an agent provides are assistance in pricing to maximize your investment, and his or her ability to market your property.

The most important thing I discovered in 25 years of corporate marketing management for some of the world’s largest corporations is that if you copy how other companies market and advertise you can get lost in the “noise.”  That is true in real estate marketing as well.

When you choose a real estate agent to sell your home, you should ask yourself, “Will they do anything especially creative to market my home, particularly to perspective buyers?  Will my agent just run a few ads, or do they have a creative plan for target marketing perspective buyers for my property?  Are they going to do an open house with an ad and a few signs, or will my agent invite a few hundred prospects who prefer my type of home…even bake cookies or offer some other incentive to encourage potential buyers to drop by?  Is there a unique strategy for marketing my home?”

Your real estate agent’s ability to judge your market and help you assess the value of your property is also critical for you getting all you can for the sale of your house.  If you price your home too high, it may not sell, and become a “cold property.”  Frequently the question is asked, “How long has this house been on the market?”

On the other hand, if you price your home too low to sell quickly, you run the risk of leaving money on the table. And to complicate matters, home values can change up or down while your home is on the market.  Interest rates change, inventory increases and decreases, the economy fluctuates, zoning and planned developments are announced, and more.  A good real estate agent is constantly monitoring market dynamics, and will recommend price adjustments, if required.

If you have had a good experience with a real estate agent, that is an excellent reason to stay with your agent.  If you do not already have a real estate agent, it is your responsibility to seek out the most capable real estate agent you can.  Just remember, when your real estate agent lists your home, his or her work just begins. 

Rob Feder is a licensed Realtor with Patterson Realty, with a real estate practice that covers San Luis Obispo County.  He is formerly a marketing officer and senior marketing advisor for companies such as IBM, Carrier Air Conditioning, AT&T, Butler Buildings , Pizza Hut and First Interstate Bank (now Wells Fargo). For more ideas on selling your home, visit www.robfeder.com.