This is a guest post from Jeff Hammerberg, the founder of GayRealEstate.com, the largest company in the nation representing the rights of queer home buyers and sellers. These are his words’¦

Choose a Realtor Wisely to Save Money

Any time somebody decides to sell their home the cost of hiring a professional real estate agent is one of the biggest bottom line factors, and that is doubly true during a real estate recession like the one faced by Americans at the moment.

Real estate brokerage fees contribute a substantial portion of overall costs and may be the most expensive line item charge on a real estate sales closing statement, so homeowners should carefully evaluate any potential cost-cutting alternative.

But while the decision about whether or not to employ a broker is a question many Americans face right now, the best answer can be difficult to arrive at because there are many contributing factors. Here are a few things to consider to help make decisions regarding hiring Realtors easier:

Not All Realtors are Created Equal
Pick a real estate agent who is a good match, not just in terms of personal chemistry and professional credentials but also in their particular specialty and expertise. Some brokers, for example, only represent sellers, and they never accept a commission payment from a buyer. If you are worried about whether or not your fiduciary interests come first, consider hiring an Exclusive Seller Agent.

Rapport is Key to the Homeowner/Broker Relationship
Rapport is critical, and without it a homeowner can wind up confused, frustrated, and disappointed. If you cannot communicate easily, comfortably, and openly with a broker, don’t waste your money or your time. Continue looking, keep asking friends for recommendations, and interview other brokers until you find the right one for you.

Homeowners Can Still Change their Minds
Signing a listing agreement does not mean carving your future in stone, especially if you negotiate a short listing timeframe. Try out a broker for a month or two. If you don’t see results, let the listing expire and hire somebody else. If you do get results, extend the listing. But don’t hesitate to fire a broker who is not working to your satisfaction. If you have problems with one agent, you can also request a different Realtor from the same office by talking to the broker/owner of a firm.

Get it in Writing
Always communicate important ideas in writing. If a Realtor promises to do a certain number of open houses or run ads every week, get them to put it in writing. That helps keep them accountable for performance with verifiable benchmarks and goals.

When weighing the cost of hiring a professional Realtor against the potential for savings, here are three of the most important things to consider – which are often overlooked by homeowners.

#1 Negotiations
Many sellers – especially first timers – fail to recognize the value of paying for expert professional negotiations, but this is one of the most compelling reasons to hire a Realtor. The value of a professional negotiator is underscored by the fact that many experienced and highly trained real estate professionals still hire other Realtors to represent them when they sell their own homes. That may sound rather peculiar and ironic on the surface, but third party negotiations are generally more successful, more objective, and more readily accepted by buyers – which means they accomplish better results in terms of higher prices and more favorable terms. Plus, if you have a paid professional doing your selling it will be his or her responsibility to iron out wrinkles or solve unforeseen problems that may arise before the sale is successfully completed.

#2 Time is Money
Those buyers who are on a serious house hunting expedition expect to tour property on their schedule, not yours. And if they schedule an appointment and then fail to show up, it is your loss, not theirs, even if you had to jump through hoops and hire a housecleaner on short notice to make it happen. Realtors are used to working evenings and weekends, put you may not be, so consider how assuming their role will affect your lifestyle before you open your house to strangers and yourself to the imposition of phone calls, emails, and broken appointments.

#3 Special Alternatives
Brokerage firms offer many different kinds of programs and services as alternatives to the ones typically associated with the full service real estate business. Some brokers offer a limited menu of services for a discounted rate but will still advertise the home prominently in the Multiple Listing Service (MLS). Others will provide assistance with contracts and negotiations if you do your own showing appointments and tours; and there are a number of variations on this theme of partial service in exchange for a discounted fee.

Crunch the numbers and tally up the pros and cons based on your own situation, and you can more easily decide what kind of Realtor is best for you – or whether you want to go it alone as a seller.

For experienced Realtors to help you market and sell a home even in challenging times, visit www.GayRealEstate.com or call toll free 1-888-420-MOVE (6683).

More about Jeffery Hammerberg
Jeffery Hammerberg is Founder and President of Gay Real Estate, Inc. – the nation’s largest group of companies connecting gay & lesbian home buyers and sellers to gay, lesbian and gay friendly real estate agents. Since 1997, Hammerberg has created a virtual real estate marketplace for the LGBT community.

Photo credit: GayRealEstate.com.