In today’s world of complicated and legal real estate transactions, nobody should venture out into the real estate market without the full support and representation of a Professional Realtor. While there are many people who are licensed real estate sales agents, you will find a wide range of professionalism and capabilities within the industry - all realtors do NOT provide the same level of service and excellence! Thus to help you make an informed decision about selecting the right Realtor for selling your home, we have put together some questions to ask agents during your decision making process.
1. What is your broker’s track-record for success? What is their market share in the region? Lyon Real Estate has been rated the #1 Residential Real Estate Broker in the Sacramento region for 6 years in a row by the Sacramento Business Journal! We lead with a 13.1% market share, and we are #1 in Luxury Home Sales with 18.8% of the market share. We have grown into a firm with 17 offices and 900+ agents.
2. Are you a licensed Realtor and a member of the National Association of Realtors (NAR)? Yes, our team of Professional Realtors at The Lamb-Pennington Group are members of NAR.
3. Do you work full-time as a Realtor or is this a part-time job? At our team, both Eric and Margaret are involved with the real estate business full-time. In fact, with our group you not only get one agent working on your behalf, but you get TWO Realtors!
4. How well do you know my neighborhood and the current market values? We are consistently keeping up with the market in many different neighborhoods. While no one person can be fully updated on all neighborhoods, we make a commitment to learn about your neighborhood and will research the latest Market Data and available houses on the market.
5. What is your Marketing Plan, and how do you plan to get my home sold? We have our proven 7 Strategic Keys to Get Your House Sold! It outlines the major elements to our successful strategy of selling your home to achieve the highest sales price in the shortest time possible with the least amount of inconvenience. (See the following pages for additional information).
6. Can you describe to me the TWO different Buyer Pools in marketing real estate and how your Marketing Plan addresses them? Those in Buyer Pool One are buyers ready, able, and willing to purchase you home - NOW. They typically purchase homes in the first 2-3 weeks of NEW listings on the market. They usually have their financing pre-approved, watch the market, and have made offers on other homes. The people in Buyer Pool Two usually purchase homes after 3 weeks on the market. They typically have fewer homes available, and make weaker offers. (See we address the different Buyer Pools in our Marketing Plan).
7. What tools do you offer to help me sell my home and navigate through the selling process? While we offer a variety of tools to assist you, one of the unique tools we offer is our extensive Seller’s Handbook. In it you will find a wealth of information on how prepare your home for marketing, being prepared to show your home, and detailed tips for navigating through the escrow.
8. What systems do you have in place to keep in contact with me during the entire process? Did you know that a LACK OF COMMUNICATION was the biggest complaint people had working with their Realtor? At The Lamb-Pennington Group, we have made a Communication Pledge to our Clients - a pledge with a guarantee to keep them informed and updated on the process.
9. What are the performance data numbers from your listings over the past year? The Multiple Listing Service (MLS) has an exhaustive database with the numbers for each current member. Based upon Residential Properties with 1 House on Lot, here are our performance numbers.
· Price/Sales Price (LP/SP) ratio for comparable homes? We currently have a selling ratio of 97.3%.
· Days On Market (DOM)? Our average DOM is 11.
· Average number of offers or multiple offers on comparable listings? We currently have average 3.0 offers on our sales.
· Closure rate once in escrow? We work hard before and during escrow with our Clients, the Buyers, title companies, inspectors, lenders, etc. to assure your sale gets closed! Our current closure rate is 100%.
10. How do you and your broker keep up-to-date on all the legal issues and other pertinent information to the real estate industry? In addition to the mandatory continuing education required by the California Bureau of Real Estate (CalBRE), Lyon Real Estate has a very thorough education and training program - which includes weekly classroom training, weekly legal updates, quarterly seminars, twice a year legal seminars, and an annual seminar. Plus we personally research for news and information in the real estate industry which will better equip us to help our Clients.
11. What is your typical real estate fee for selling my home and what does that cover? Our standard commission for selling your home is 6% of the sales price. Half of that is shared with the Buying Broker, and the remaining 3% is our Broker’s marketing fee. We receive a percentage of our Broker’s fee which covers our marketing expenses to get your home sold, insurance, association fees, operating costs, and our time to serve you through the home selling process! While some people try to save on commissions, the bottom line may be an overall lower Net Proceeds to you from the sale of your home.
12. Can you provide me references from past clients? Absolutely! For privacy reasons we do not publically list our client’s information, but we can provide some contact information if you request it. You are also welcome to review our website, other real estate websites like Trulia and Zillow, and our social media pages for testimonials.
At The Lamb-Pennington Group, we take the process of selling your home very seriously. It is our goal to help you achieve the highest sales price in the shortest time possible with the least amount of inconvenience. That is why we offer our clients such professionalism, excellence, and expertise. If you want to achieve these same goals and you value a high level of service from your realtor, we are confident you will find our team’s services an exceptional value that deliver results and leaves you satisfied with the outcome!