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Questions Every Seller Should Ask

Their Real Estate Broker

(And the answers you should receive)

COMPANY STRUCTURE

1.    How long has your company been in business in the Riverside area? Since 1985…20 years. Real estate companies typically experience high agent turnover rates and high failure rates. It’s important your company has the stability to weather any economic storm and be here for you whenever you may need them…now and in the future.

2.    How many agents are licensed with your company, and what is their average years experience in the business? Westcoe has 61 agents with an average experience of 16 years. There is nothing wrong with an inexperienced agent…but there is something wrong if newer agents are not surrounded by experienced agents to assist them. The company representing you to the buying public must have the experience to handle whatever problems that are sure to arise in any real estate transaction.

3.    Is your immediate manager the owner of the company as well? Yes. At Westcoe, our owner is our primary manager. Real estate transactions can get very frantic. Client needs must be met immediately, and many times, lawsuits can be prevented by a quick response to your particular situation. Does the onsite management have the power and authority to solve the problem and provide a solution now?...or does it need to move through multi-levels of management and voice/e-mails, taking valuable time that can make matters worse? Westcoe agents do not have to get decisions from a cumbersome corporate structure located offsite in another city or county.

4.    If there is more than one branch to your company, is your headquarters located in the Riverside area, or another city/county? Westcoe has only one location, in the City of Riverside. The Riverside area real estate market is very unique. A local company with a local presence adapts more quickly and easily to a constantly changing environment. What works in Orange County or Los Angeles County does not necessarily work in the Riverside area, and your company should be aware of that.

5.    Does your company share it’s name with others (franchise), or are you the only business entity with your name? Westcoe Realtors, Inc. is a singular company, owned and operated in Riverside. The proliferation of franchise names is very confusing to potential buyers.   In our local board of Realtors, [Inland Valleys Association of Realtors, Inc.] there are currently 23 Century 21 companies, 16 Coldwell Banker companies, 11 separate Remax companies, 9 Tarbells, 5 Prudentials, and 3 Realty Executive companies. They all have different locations, many with separate owners, and this can be very confusing to a potential buyer. The real estate transaction is complicated enough without having trouble just finding the correct phone number.

OFFICE PROCEDURES

1.    Has your broker ever been disciplined by the Department of Real Estate, or ever had their license suspended or revoked? Westcoe Realtors, Inc. has never been the subject of DRE investigation or action. This goes to the heart of your company’s ethics, supervision, and management practices…things which should be of paramount importance to a seller.

2.    Are your phones ever answered by an automated attendant during business hours? At Westcoe, our phones are always answered by real people, not machines. Your broker should be about service, not streamlined operations. Automated attendants are the bane of customer service, and are universally disliked by the general public. In selling your home, you need to attract potential buyers, not alienate them.

3.    How often does your office meet as a group? With the exception of holidays, Westcoe meets every week as a formal group. Our regular meetings are critical for two reasons. First, management can quickly voice any legal issues, changes, or trends that could adversely affect our clients. Secondly, our meetings are a vital forum for the agents to promote properties just listed for sale, discuss new loan sources, market trends, etc., and to try and match agents working with new buyers to properties Westcoe has for sale. If an office meets only once per month or once per quarter, then they are not able to react as quickly as a seller should expect.

4.    Does your office tour their listings as a group? At Westcoe, after every weekly meeting, the entire office, as a group, drives to the properties we have listed for sale that week. This is critical. Many companies have eliminated this procedure to save time, gas, etc. for their agents. At Westcoe, we feel it is a foundation for the proper marketing of your home. How can the other agents in the office represent your home to potential buyers if they have never seen it? Your brokerage company should be about service to you, not ease of business practices for them.

5.    How many real estate support staff does your company have (not including escrow)? How many staff is that per agent? At Westcoe, we have 8 support staff for our agents, which translates to 1 staff member for every 7 agents. As an informational item, our escrow department has an additional 6 staff members. Staff support is critical to the smooth operation of a real estate company. The staff members, by supporting the agents, allow the agents to spend more time and effort assisting our clients, and less time on administrative duties.

ADVERTISING POLICIES AND PROCEDURES

1.    When your company or you run your ads, is the phone number offered for the buyer to call ever answered by automated attendant, voice mail, or voice pager? No…Westcoe always has our ads answered by a live person. This is huge in the customer service arena. Buyers call on ads, and they will not wait for an automated attendant, or for an agent to be paged, or to leave a message for some future call-back. Buyers want answers now, and will simply call another company if they cannot get them. Again, it’s about service to our sellers and buyers, not administrative convenience or cost.

2.    Do you have an agent available at all times to answer a phone call from a prospective buyer, or are calls routed to the agent whose property is being advertised? Yes. At Westcoe, there is always an agent designated to be at the office, available for whatever needs or questions a buyer may have about any property listed by our company. Some companies route potential buyer calls to the listing agent…which is fine, except no one, no matter who they are, is available every business hour of every day. We realize the benefit of pagers, cell phones, and voice mail, but a potential buyer should never have to wait for a return phone call. In our experience, they simply won’t. Good service on a seller’s behalf requires that potential buyers be helped immediately, at their convenience…and not be kept waiting until an agent can be found.

3.    Who pays for your property advertising…the company, or the agent? At Westcoe, the company pays for the majority of the advertising, not the individual agent. In over 20 years of tracking ads, it is our experience that when the advertising is left to the individual agent, the advertising is sporadic and minimal. {See advertising comparison of top rated Riverside companies}. Our company views the cost and time to prepare advertising as a seller’s right, not an option. Consistent advertising is in your best interest…make sure your realty company understands that.

Benefits

Listing property with Steven Kirkpatrick of WESTCOE REALTORS, INC. means receiving the following benefits:

Experience • Honesty • Integrity • Skill • Effectiveness • Advanced Techniques and Aids

• Intimate Knowledge of the Marketplace • Financial Counsel and Assistance

• Working With Riverside’s No. 1 Real Estate Company Since 1986

So, there is something special about selecting Steven Kirkpatrick of WESTCOE REALTORS, INC. as your Realtor®. In addition, you should know about the many beneficial services you will also receive as part of working with Westcoe Realtors, Inc.

We have…

n REPUTATION… Westcoe is locally owned an operated and has recently celebrated over 20 years of real estate excellence and is know for setting the professional standard of excellence higher than the competition.

n PROFESSIONALISM… Our associates are all highly professional and well trained.

n EXPERIENCE… Our superior personalized service and record of excellence of over 20 years have established a reputation of trust and fairness, which many of our clients have come to depend upon again and again.

n LOCATIONS…Westcoe Realtors, Inc. is locally owned and operated in Riverside, California

n COMPUTERIZED MULTIPLE LISTING SERVICE… To give our sellers the widest array of computerized exposure, your home will be advertised in our local association of Realtors® Multiple Listing Service, the Southern California MLS Alliance, REALTOR®.com, and our company’s website.

n MARKET ANALYSIS… We will determine the realistic value of your home in three ways:1. An opinion by a qualified REALTOR® of Westcoe Realtors, Inc.2. A written compilation, comparison and analysis of recent homes sold, present listings for sale, pending sales as well as recent homes no longer for sale that whereby the listing period has expired.3. We will supplement these with an office tour with an opinion of value from over 50 agents.

n ADVERTISING… Westcoe is extremely competitive when it come to advertising homes for sale attracting readership that is actively searching for homes in the local area.

n CORPORATE RELOCATION… Riverside brings buyers from across state and county lines, whereby our real estate professionals are active and successful in attracting for the benefit of selling our listings faster than the competition.

Key Market Factors

How long does it take to sell a home? There is no easy answer – some homes sell in a few days, others may take several months. Recognizing the key factors influencing a sale can give you significant control over market time.

The proper balance of these factors will expedite your sale:

LOCATION…

n Location is the single greatest factor affecting value.

n Neighborhood desirability is fundamental to a property’s fair market value.

COMPETITION…

n Buyers compare your property against competing properties.

n Buyers interpret value based on available properties.

TIMING…

n The real estate market may reflect a seller’s market or a buyer’s market.

n Market conditions cannot be manipulated; an individually tailored marketing plan must be developed accordingly.

CONDITION…

n Property condition affects price and speed of sale.

n Optimizing physical appearances and advance preparation for marketing maximizes value.

TERMS…

n The more flexible the financing, the broader the market, the quicker the sale and the higher the price.

n Terms structured to meet your objectives are important to successful marketing.

PRICE…

n If the property is not properly priced, a sale may be delayed or even prevented. Westcoe Realtors, Inc.'s comprehensive market study will assist you in determining the best possible price.

The Westcoe Realtors, Inc. Story

WESTCOE REALTORS, INC. …

Westcoe Realtors, Inc. was formed in 1986, and every single year since, the company has been No. 1 in closed sales volume, No. 1 in listings sold, and No. 1 in listings serviced for the Riverside/Moreno Valley area. That is an enormous statement and accomplishment. Westcoe is locally owned and operated, and is fiercely proud of it’s Riverside roots, having declined merger and franchise requests from every major national real estate organization. The fundamental foundation of Westcoe Realtors, Inc. is our real estate professionals. Westcoe hires soley upon the character and integrity of the individual Realtor®, not simply the sales production. This allows us to create a supportive atmosphere where the long-term interests of our clients is our only concern, not the short-term benefits of immediate sales production. This emphasis on the individual instead of the numbers leads to a stronger organization with increased sales success for our clients. We understand that deciding upon a real estate company is difficult. We realize you have a choice in whom to trust your real estate needs. In fact, it’s that choice that reminds us we must earn your business every day. We care about the families we work for, understand the enormity of your buying and selling situation, and are committed to constantly testing new ideas and programs to continue our position as the most successful independent real estate brokerage organization in Riverside County. This booklet, prepared for you, is an example of the quality of professional service you can expect as a client of Westcoe, and we think you will enjoy the information contained herein. WESTCOE REALTORS, INC. consists of people… and it is because of these dedicated people you can feel confident that all of your real estate needs will be handled in a most trustworthy, professional and efficient manner unsurpassed by the competition.

Advertising Mythology Revealed

Many people think that to sell a home you place an ad in the paper
and wait for a person to call and buy the home...NOT SO!
If that were true, real estate professionals would be out of work.

The basic law of real estate is this

ADS DON'T SELL HOMES...PEOPLE DO!!!

I am trying to educate sellers and the public about the tremendous changes in REAL ESTATE MARKETING. A recent study by the National Association of REALTORS® uncovered some interesting statistics about WHERE BUYERS COME FROM.

40%		Purchased because they recognized a SALESPERSON or firm name and were serviced by them.
20%		Purchased because they saw a sign in the lawn and approved the home's exterior and location.
18%		Responded to an ad but eventually purchased a different home.
7%		Were referred through a relocation service.
3%		Bought the home they saw advertised.
* 1%		Bought the home they saw at an Open House.
3%		Bought for a combination of the above reasons

ABOUT PRICE…
The best way to ensure a quick sale is to price your home COMPETITIVELY. Buyers purchase homes by comparison and will usually make an offer on a fairly priced property BEFORE making a low offer on an overpriced listing. Price and possible terms are important buyer motivators.

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AboutRiverside.com

You can find many great Riverside real estate agents and loan officers on ActiveRain.com Steven Kirkpatrick, an insurance agency principle with Farmers Insruance Group, is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.