Success with your Realtor: Something to think about

From First Call to Closing: How to Work With a Real Estate Agent (and Actually Hit Your Goals)

Buying or selling a home isn’t just a transaction—it’s a project. Projects succeed when roles are clear, goals are realistic, and the plan adapts to market data. Here’s a simple, honest guide to working with a real estate agent so you know what to expect, how decisions get made, and how feedback and trends shape the outcome.

1) Start With a Strategy Session (Not Just a Showing or a CMA)

What we cover in the first meeting:

• Your goals & non-negotiables: timing, price range, must-haves, deal breakers.

• Budget & financing: pre-approval for buyers; estimated net sheet for sellers.

• Timeline: desired close/move dates, milestones, and contingency plans.

• Market snapshot: inventory, days on market, list-to-sale ratios, and interest rates.

• Roles & communication: who does what, how we update you, and how often.

Deliverables you should receive:

• A brief game plan (1 page) summarizing strategy, timeline, and next steps.

• A service-level agreement (SLA) with communication frequency (e.g., “twice-weekly updates + immediate text for material changes”).

• A representation agreement explaining agency duties and how we protect your interests.

2) Set Realistic Goals (Then Anchor Your Decisions to the Data)

For sellers:

• Price to the market, not the wish. Overpricing by even 5–7% can push you into a stale-listing zone, which usually leads to price drops and a lower final number.

• Prep with ROI in mind. Focus on high-impact updates: paint, lighting, landscaping, minor repairs, professional cleaning, and staging/decluttering.

• Timing & thresholds. Understand price bands (e.g., $599k vs. $605k) and buyer search filters. A strategic list price often widens your buyer pool.

For buyers:

• Define the “zone of yes.” A clear budget + pre-approval + closing costs plan + monthly comfort number.

• Trade-offs up front. Location vs. size, new vs. renovated, yard vs. commute. Decide your 1–2 flex points to move quickly on a great fit.

• Offer strategy. Know how you’ll handle competition: escalation clauses, appraisal gap plans, and contingency positioning.

3) Understand the Trends That Actually Matter

You’ll hear lots of headlines. Focus on local data that drives decisions:

• Months of Inventory (MOI):

  • <3 months = seller-leaning (act fast, price to demand)

  • 3–6 months = balanced

  • >6 months = buyer-leaning (negotiate, be patient)

• Days on Market (DOM): Signals how quickly good homes move and how to price or pace your search.

• List-to-Sale Price Ratio: Tells us whether homes are closing above or below asking—and by how much.

• Rate Environment: Affects affordability and buyer activity. Your strategy may shift (e.g., buy now/renovate later vs. wait and risk price/rate changes).

• Micro-market factors: School zones, new roads, major employers, zoning changes, and neighborhood comps within the last 90 days.

Your agent should translate these into clear recommendations: “Given 2.1 MOI and 101% list-to-sale, pricing at $599k maximizes exposure and supports multiple-offer potential.”

4) Agree on the Plan—and the Metrics

For sellers (weekly actions & metrics):

• Actions: pro photography/video, MLS launch, syndication, agent outreach, social/email campaigns, open houses, target-buyer ads.

• Metrics: showings per week, online saves/engagement, agent feedback, price band visibility, comp movement.

• Review cadence: quick mid-week pulse + full weekly review. If showings/feedback don’t match expectations by Day 14, adjust.

For buyers (weekly actions & metrics):

• Actions: new listings watch, private showings, off-market outreach, daily alert tuning, lender check-ins.

• Metrics: homes toured, offer count, average winning terms in your segment.

• Review cadence: short debrief after each tour + weekly recalibration of search criteria.

5) Feedback: The Honest Loop That Gets Results

What honest feedback looks like:

• From the market to sellers: “Buyers loved the layout but felt the price didn’t match finishes.” → Action: price align, offer credit, or update feature.

• From the market to buyers: “At this price point, updated kitchens are winning.” → Action: expand area, increase budget, or plan a post-closing upgrade.

• From you to your agent: “We need same-day updates and a Friday status recap.” → Action: adjust the SLA and stick to it.

How we use it:

1. Gather feedback from showings, agents, and data (views, saves, click-throughs).

2. Identify the pattern by Week 2.

3. Adjust one lever at a time—price, presentation, or promotion—so we can see what drives the change.

6) Communication That Reduces Stress

• Cadence: Agree on a predictable pattern—e.g., “Text for showings/offers immediately, email full report Fridays by 3 PM, optional weekend call.”

• Channel: Your preferred method wins (text, call, email)—but offers and legal docs always get a call confirmation.

• Clarity: You get decision summaries: options, pros/cons, agent recommendation, and timing.

7) Offers, Negotiation, and Risk Management

Buyers:

• Speed + Preparation: Pre-approval, proof of funds, and signed disclosures ready.

• Terms That Win: Tight timelines (when feasible), strong earnest money, inspection posture (informational vs. repair-focused), appraisal strategies.

• Protect the downside: Contingencies that fit the property and your risk tolerance, not a one-size-fits-all checklist.

Sellers:

• Beyond Price: Financing type, appraisal strength, inspection stance, lease-back needs, and close certainty can outweigh a slightly higher number.

• Counteroffers: Target the 1–2 terms that matter most. Keep momentum.

8) From Contract to Close: Where Most Deals Are Won or Lost

Your agent should:

• Coordinate inspections, appraisals, title/escrow, HOA/condo docs, lender updates.

• Keep a closing calendar with all critical dates and reminders.

• Provide issue-and-resolution memos when hiccups appear (they will). Clear options, costs, and timelines minimize surprises.

You should:

• Respond quickly to document requests and repair decisions.

• Keep your lender, insurance, and moving logistics aligned with the timeline.

9) After Closing: Measure the Win

• Sellers: Compare list price vs. net proceeds, days on market vs. plan, and cost of prep vs. return. Capture the lessons for your next move.

• Buyers: Review purchase price vs. appraisal, monthly payment vs. plan, and the cost/timeline of any initial improvements. Log warranties and set reminders for homestead exemptions and tax appeals if relevant.

Quick Checklists

What You Should Expect From Your Agent

• Data-driven pricing/search strategy you can understand.

• Clear weekly plan and measurable checkpoints.

• Pro marketing (for sellers) or proactive property sourcing (for buyers).

• Fast, transparent communication and documented updates.

• Skilled negotiation tailored to the property and the market.

• Calm, competent issue management from contract to close.

What Your Agent Expects From You

• Honest budget and timeline, with documents ready.

• Timely responses and availability for key decisions.

• Openness to feedback and willingness to adjust.

• Respect for the process we agreed on—so we can execute fast.

The Bottom Line

Winning in real estate is a combination of clear goals, market-based decisions, consistent feedback, and decisive execution. When you and your agent align on expectations, measure the right trends, and keep communication honest, you don’t just get to the closing table—you get there on your terms.