How to Choose the Right Real Estate Agent for Downsizing?

Many folks who are downsizing haven’t done a real estate transaction in decades. If this describes your recent (or… not so recent) real estate experience, you may not even remember who your last real estate agent was. Or that agent might have long retired from the business. The way real estate sales works has also changed pretty significantly over the last couple of decades.

When you’re ready to downsize, if you can’t just call the agent you worked with 40 years ago to hire them again, where do you begin when searching for a new agent? How do you decide who will be the right person to guide you through the downsizing process?

Let’s first think about what tasks, skills, and resources might be required from you AND your agent for a downsizing move:

Tasks

• Decluttering
• Home improvements
• Planning

Skills/Resources

• Time
• Physical and mental stamina
• Patience
• Emotional composure

A downsizing move requires much more time and physical and emotional effort than a regular move. The agent you choose must be suited for and ready to walk with you through this intricate process. You will want someone experienced and patient. They should have a track record of working with people downsizing and the references to prove it.  

Don’t be afraid to check references! Has the realtor worked with other clients in the same situation as you? Ask if you can call and talk to those past clients about their experiences with their downsizing move. 

Your agent should also be connected to other resources and service providers that you can tap into for the process. We’re not just talking about people like electricians and HVAC contractors. You may also need resources like art/collectible appraisers, information on how to sell or donate certain things, junk removers, and more. A good real estate agent will have resources to refer you to for any projects that you can’t handle and may even help with some of the communication and coordination of the projects with those professionals.

Let’s face it - sometimes in overwhelming situations, information can be hard to keep track of. When taking on your first real estate transaction in decades, there will be SO MUCH information! Do you want an agent who makes you feel like a nuisance when you ask questions they might have already answered? Or would it be better to have someone who is in the trenches with you and ready for whatever is thrown their way, even if it means walking you through something 2 or 3 times to make sure you fully understand? 

Your agent should have infinite patience and emotional composure. You likely will need 2-3x more time from your agent than the “average” client. Is the agent willing to give you that time and extend patience, grace, and emotional support where needed? Pick an agent who will be a calming influence and won’t feed off of your stress and multiply it.

Working with someone who is a skill and personality match is hugely important. But there is also money involved in this business relationship. Let’s make sure you get the most out of your real estate investment by thinking about a couple of additional things: sales statistics and commissions/fees.

Ask about the agent’s sales statistics. Most importantly, you’ll want to know that agent’s “list to sales price ratios.” You’ve invested a lot of time and money into your home and will want to work with an agent who can protect as much of that investment as possible during your sale.

Each agent may charge a slightly different commission rate for their services. With those thoughts in mind, should you choose the cheapest agent you can find? Not necessarily. An agent that costs more may be a better negotiator than a cheaper agent, keeping more money in your pocket. Or you may get more services for your money from one agent compared to another. 

In my opinion, skills/resources and personality are the biggest contributors to helping you have a pleasant and successful real estate experience. At Jess Lex Homes, we’d welcome the opportunity to show you what we do and see if we’d be a good match to help you through the process. Connect with us.