10 Questions to Ask Before You Hire a Listing Agent on Long Island
Ten questions that tell you how an agent will price, market and protect your sale, before you sign anything.
You would not hire a contractor without asking how they work, what it costs and how long it takes. A listing agent is the same kind of hire, and the listing agreement is a contract. Iqra and I would rather you ask us every one of these than sign with anyone, us included, without the answers.
Questions about the rules and the money
1. Will you give me the New York disclosure form first? New York requires a listing agent to give you the agency disclosure form before you sign a listing agreement. It explains who the agent works for. A seller's agent works for you, not for the buyer. If the form shows up after the contract, that tells you something.
2. How did you get to your price? Ask to see the recent sales behind the number and why each one counts. A price with no sales attached is a guess. A good answer names homes, dates and the differences between them and yours.
3. What will I walk away with? The sale price is not the check you get. Ask for a written estimate of your net after the payoff, transfer tax, attorney and other closing costs. You can run your own with our free net sheet before any meeting.
4. How are you paid, and what do I offer a buyer's agent? Get the fee in writing and ask what it covers. Under the national settlement rules, a seller can choose whether to offer compensation to a buyer's agent. Ask your agent to walk you through what each choice can mean for your showings and your net.
5. How long is the agreement, and how do I end it? Read the term and the cancellation clause before you sign. Ask what happens if the agent does not do what was promised.
Questions about the marketing and the sale
6. What is your marketing plan, in writing? Photos, the listing date, where the home will appear and when. A plan you can hold the agent to beats a list of adjectives.
7. When does my home go on the MLS? Under the MLS rule, a listing must be submitted within one business day of marketing it to the public, and a yard sign or an email blast counts as marketing. Ask whether our MLS allows a short delay before wide marketing, and what you give up if you choose it.
8. How will showings and feedback work? Ask who schedules, how much notice you get and how fast you hear what buyers said. Feedback a week late is feedback you cannot use.
9. How do you handle offers? Ask how the agent compares offers beyond price: the mortgage approval, the inspection terms, the closing date and what happens if the buyer's home has to sell first.
10. How often will we talk? Set the rhythm before you list. A weekly call with showings, feedback and next steps keeps surprises small.
What to do next
Write these ten on one page and bring it to every agent you meet. Compare the answers side by side, not the friendliness of the meeting. If you are thinking about selling in the Town of Smithtown, start with your numbers on the net sheet or check what your home may be worth on my home value. Iqra and I will answer all ten before you sign anything.