How Do You Choose a Real Estate Listing Agent?

Save 6% When Selling in NYC: https://www.hauseit.com/agent-assisted-fsbo/
NYC Seller Closing Cost Calculator: https://www.hauseit.com/closing-cost-estimator-for-seller-nyc/

How do you choose a real estate listing agent? We'll demystify this topic in the following video. My name is Chris at Hauseit. Hauseit is the largest For Sale By Owner and Buyer Commission Rebate company in New York City. To start with, sellers must choose what kind of commission structure they wish to work with. There are three main options to choose from when it comes to cost: there is a traditional full-service listing for full commission typically 5% or 6% as you've heard of in many parts of New York City.

Number two is a discounted Full Service Listing option. The commission rates are typically lower: for example 1% to the listing agent and a market rate commission say 2.5% or 3% to buyers agents but for full service. 3 is a Flat Fee MLS or an Assisted FSBO listing option where you pay a flat fee for a brokerage to list your property on the local MLS plus associated public third-party websites for a small flat fee versus 5% or 6% in total commission. Keep in mind in the flat fee option you still want to offer a market rate commission to buyer's agents such as 2.5% or 3%, so if you sell to a represented buyer you may still owe a buyer agent commission. However, if you find a direct buyer you will end up owing 0% in broker commission at closing.

Besides costs there are a few important traits to keep a lookout for when interviewing potential real estate listing agents. The first of them is competence. Is your real estate listing agent professional, well-spoken and well-mannered when speaking with you and potentially other people? Does your real estate listing agent communicate with you promptly and in a professional manner over email? Another important trait is responsiveness. How quickly does your potential listing agent respond to your emails during the scheduling of your interview? Does he or she check out at 5 p.m. every day? If so, this may be an issue because for a listing, many buyers will be coming from out of town or maybe international buyers who are only available for a specific time slot or even will only be in town for one day.

If your agent checks out regularly at 4 or 5 p.m. on any given day or simply takes days to respond, well you may end up missing on a lot more than simply just a buyer. You may end up missing on potential offers altogether. Another important trait to watch out for is experience. Does your potential listing agent have experienced with condos coops? Has he or she done deals before in New York City or ideally in your neighborhood or your section of your borough? For example, if you live in the FiDi has your listing agent done do is in FiDi or at least in lower Manhattan? The last thing you'll want is a real estate listing agent working on your listing who is unfamiliar with how the process works for selling a condo or a co-op apartment. Perhaps he or she is from out of town again this is a real or some wrench to throw into the process and you certainly don't want that for yourself.

Another important criteria to consider is exposure. Will your potential listing agent give you full exposure to all potential represented and unrepresented buyers? Well the most important criteria to remember is to check whether he or she is a member of the dominant local MLS system. For example, if you have a property in Manhattan or in most New York City check to see if your listing agent is a member of the Real Estate Board of New York or REBNY. REBNY is the predominant MLS defacto organization here in New York City.. Even though it is not technically affiliated with the National Association of Realtors, it operates as the primary broker database here and is based in Manhattan and you certainly need exposure in the REBNY RLS broker database to gain access to over 17,000 Real Estate Board of New York agents.

Once you've confirmed that the listing agent is a member of the main MLS system in your area well then you can rest assured that their syndication to various third-party websites such as Zillow, Realtor.com, the New York Times and such will be rather standard. That's because once the listing is uploaded into a MLS system usually the MLS system will have a means of syndicating listing automatically to an industry standard set of sites or market places. As a result, as long as your agent is a member of the MLS well any agent will have the same exposure on that MLS.

Save 6% When Selling in NYC: https://www.hauseit.com/agent-assisted-fsbo/
NYC Seller Closing Cost Calculator: https://www.hauseit.com/closing-cost-estimator-for-seller-nyc/
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Hauseit LLC, Licensed Real Estate Broker
Tel: (888) 494-8258 | https://www.hauseit.com
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