Experience Lakefront Living
Not all real estate agents are the same. If you decide to seek the help of an agent when selling or buying your lakefront home, you need some good information before you make any moves.
Picking an agent is one of those critical issues that can cost or save you thousands of dollars. There are very specific questions you should be asking to ensure that you get the best representation for your needs. Some agents may prefer that you don’t ask these questions, since the knowledge you’ll gain from their honest answers will give you a very good idea about what outcome you can expect from using them as an agent.
1.What makes you different? Why should I list my lakefront home with you?
It’s a much tougher real estate market than it was a decade ago. What unique marketing plans and programs does this agent have in place to make sure that your lakefront home stands out favorably versus other competing homes? What things does this agent offer you that others don’t to help you sell your lakefront home in the least amount of time with the least amount of hassle and for the most amount of money?
2. What can you tell me about my lake?
Selling lakefront property is unique in itself. A potential Buyer will want to know all the details of the lake including water quality, size, depth, weed situation and recreational activities. Buyers are buying the lakefront lifestyle, not just a house. Be sure your agent understands that "selling the lake" is as important, if not more important, than selling the home.
3. Have you sold any lakefront homes in the past?
Your agent should be familiar with lakefront property in the area and the "premium" pricing that these properties command. The more they specialize in this area, the more knowledge and passion they will have during your home sale.
4. What are your marketing plans for my home?
How much money does this agent spend in advertising the lakefront homes s/he lists versus the other agents you are interviewing? In what media (newspaper, magazine, TV etc.) does this agent advertise? What does s/he know about the effectiveness of one medium over the other?
5. What negotiation strategies will you use?
Your agent should be well schooled in the art of negotiating. They should be able to talk through the strategies they use when negotiating the price and terms of your sale. Their answer to this question is very important, it could be the difference between costing you or saving you thousands of dollars.
6. How many Lakefront Buyers are you currently working with?
Obviously, the more lakefront buyers your agent is working with, the better your chances are of selling your lakefront home quickly. It will also impact price because an agent with many buyers can set up an auction-like atmosphere where many buyers bid on your home at the same time. Ask them to describe the system they have for attracting buyers. Also, ask them about a discount in commission if they sell the home without another agent involved.
7. Do you have a reference list of clients I could contact?
Ask to see this list, and then proceed to spot check some of the names.
8. What happens if I’m not happy with the job you are doing to get my home sold?
Can I cancel my listing contract? Be wary of agents that lock you into a lengthy listing contract where they can get out of (by ceasing to effectively market your home) but you can’t. There are usually penalties and broker protection periods which safeguard the agent’s interests, but not yours. How confident is your agent in the service s/he will provide you? Will s/he allow you to cancel your contract without penalty if you’re not satisfied with the service provided?
Evaluate each agent’s responses to these questions carefully and objectively. Who will do the best job for you? These questions will help you decide.
Scott Freerksen "The Lake Guy"
211 Main Street, Suite One
Milford, Massachusetts 01757
Office Telephone: 508-269-6623
Email: lakeside01@comcast.net
Important Questions When Choosing a Real Estate Agent
