Pick My Agent™
The major benefit is three independent opinions of value. A secondary benefit is a credit against the commission or the purchase price.
You choose the agent you feel most comfortable with.
- Pick from three agents recommended to Dear Monty.
- Each one briefed on your needs.
- each one completed an extensive Dear Monty questionnaire designed to show you what to expect from them.
How It Works
- Upon receipt of your Pick My Agent™ request, Dear Monty reviews your circumstances. If we need additional information, we will contact you at the telephone number you furnished.
- Dear Monty’s search begins in or near the zip code in which your need exists. Dear Monty employs a variety of methods to initially screen potential agents for you to interview, which includes recommendations, telephone interviews, and a written questionnaire.
- Dear Monty communicates with prospective agents to provide them data about how this referral process works, to explain your circumstances (without your name or contact information, of course), and to indicate what they can do to qualify for the chance to work with you. Prospective agents are aware you will be interviewing multiple agents. Dear Monty will halt the search after identifying three qualified candidates.
- Once three fully vetted agents are identified, Dear Monty will convey to you the contact information of the three agents and their answers to Dear Monty’s screening questions.
If you are selling, he recommends that you invite each agent to view your home if you are selling. Their visits allow you to ask them more questions and to see them in action. You will observe how they determine the “range of value” of your home, and you can ask them for any suggestions they have to improve your price potential—and more. It is most likely that each of them will have different value ranges. After conducting these interviews, you will have enough information to make the best decision about which agent to work with.
If you are buying, you may meet with the three candidates and, again, ask questions based on your preferences for price range, neighborhood, and features. Remember, these agents have been “matched” with you and your needs. All you do now is choose one to work with.
- When your transaction closes (whether you are buying or selling or both) with the “Dear Monty Referral Credit™” clause included in your listing or sale contract, the Dear Monty Referral Credit™ will be delivered to you in the form of a credit. The amount of the credit is explained in detail further on. You are responsible for ensuring the Dear Monty Referral Credit™ clause is in your contract. And the agents will have agreed to include it during their interviews with Dear Monty. No surprises.
The Dear Monty team invests about ten hours in identifying three agents with the skills and attributes you requested when asked about your agent expectations. Your payment of just $99 demonstrates good faith and intent, allows Dear Monty to proceed, and also suggests you see the added value in taking this important step to improve the odds of a successful real estate experience.
The listing agent you choose will include the following language in the listing agreement:
“The commission dollar amount will be reduced by .0625 percent, representing a commission credit to the seller.”
Example: For a $230,000 home sold with a 6% commission (this percentage may be negotiable when you list your home but can range from xxx to xxx), the credit shows up as a lower commission on the closing statement.
= $12,937.50 seller adjusted commission
Step 1: Your selling agent will include the following language in the purchase contract: “This offer is subject to the contract purchase price being adjusted downward by .00375 percent to provide a price adjustment credit to the buyer at closing.”
Example: $230,000 sale price
|$230,000 sale price
= $862.50 price adjustment
|$230,000 sale price
= $229,137.50 adjusted sale price.
Step 2: The listing agent must amend the listing contract to allow the home seller to agree to adjust the sale price. The seller will agree to the buyer’s condition because this amendment reduces the commission by the same amount as the price adjustment, so the seller’s net proceeds after commission is the same amount: “Listing agent and listing broker agree to adjust the commission amount down by .0625 percent to retain seller’s proceeds identical with the selling price adjustment.”
Example: $230,000 sale price @ 6% = $13,800 commission
|$230,000 sale price
– $13,800 commission
$216,200 seller net after commission
|$229,137.50 adjusted sale price
-$12,937.50 adjusted commission
$216,200 seller net after commission
Yes, the Dear Monty Referral Credit™ can be utilized in both instances. Dear Monty may recommend engaging another agent for the home purchase depending on the location of the new home. Let him know of your intentions in the comment section of the Pick My Agent™ form on the website.
- As a seller, you gain three opinions of value instead of one. Evaluating a home is the most challenging and least understood step in the real estate process, even for many agents. While there is extra interview time, the few extra hours may be worth thousands or tens of thousands of dollars to you. One Dear Monty client credited him with saving them $50,000 when they sold their home because of the three-interview exercise.
As a home buyer, the extensive Dear Monty agent interview process provides you with insights into the differences among agents in how they view the process and their relationships with their clients and customers. Having three perspectives and three different views about the best home buying strategies and how they go about the business of helping you find a home, on your terms, can make a difference in your home buying experience.
- According to the National Association of Realtors, about 70 percent of home sellers only interview one agent. Dear Monty’s experience suggests about 30 percent of all newly listed homes expire unsold with the first agent. Why? Bad matches between agents and sellers, differing expectations, and often poor home valuations. Repeating the hiring process and additional marketing and home showing time on a failed attempt to sell is a far greater intrusion on your time than interviewing three prequalified agent candidates.
- With Dear Monty, you gain the experience of a team that has worked to choose thousands of real estate agents, where most sellers only select an agent three times in their life. Dear Monty knows the important questions to ask and to listen for the best answers.
- You only have to tell your story once. Dear Monty repeats it to the agents.
- When you have a question as you move through the real estate process, just Ask Dear Monty online or pick up the phone and call him at (920) 445-8911.
- You save money at the closing with the Dear Monty Referral Credit™ on the commission you pay as a seller, or on your home purchase price as a buyer, and your initial $99 fee is money well spent. While saving money is important, the big savings comes with the Dear Monty three prescreened agent interviews.
Between three and seven days. The process is labor-intensive, and Dear Monty’s screening activities often eliminate potential candidates along the way. Sometimes agents exclude themselves. Market activity, contract negotiations, caseload, the price range, neighborhood, or preplanned personal commitments can impact the length of time it takes to identify quality agents.
If you’re a seller, Dear Monty recommends you meet with each agent. From the agent’s point of view, a personal interview gives them the ability to see the property and allows them to share their opinion of value. They also can then answer any questions you have about what furniture and fixtures typically stay, and they can give suggestions about improvements you can make to maximize the desirability of your home. Expect they may have differing opinions about the market and tactical actions to bring potential buyers to your home.
If you’re buying, Dear Monty recommends a similar approach to you as he does a seller. A face-to-face meeting allows you to interact, ask impromptu questions, and observe each of the agents firsthand. You can ask them to expand on the answers to their questionnaire or ask new questions. Where you meet is not as critical as it is when you are a buyer only because they are not evaluating the property. They also may have different methods for you to approach the market. For example, while they will all recommend you seek a preapproval letter from a lender, in a hot market, one of them may ask you to block out a specific time every few days on the calendar that you can look at a new listing.
Most agents are surprised to learn this is part of the process. Dear Monty often hears words like, “Wow, I’ve never heard of this before,” on learning of this requirement. In most real estate referrals, “Will you pay a referral fee?” is the only qualifying question. Because they recognize a Dear Monty referral as a high-quality opportunity, agents are willing to take the necessary steps to help you assess their approach, including rewarding you with the Dear Monty Referral Credit™ to keep your costs down.
Referral fees are common in the real estate industry. Agents refer other agents and expect to get a fee (and agents thank former clients for referrals by sending gift cards). But wouldn’t you rather be referred to an agent whose track record has been investigated than to get a name of someone’s golf partner, sister-in-law, or church member?
If you want a friend or acquaintance in the mix, Dear Monty will include them in the same process as the other candidates. You benefit by putting all of the agents on equal footing. On the few occasions this has occurred, Dear Monty’s customer most often chooses one of his selections instead. Just share the agent’s name in the “other information” box, and if you know them, inform them Dear Monty will be contacting them. You should be aware that some agents may decline the referral if they have an existing relationship with you, which may void the Dear Monty Referral Credit™, should they be your ultimate choice.
You are free to do so. People who utilize Pick My Agent™ recognize the value of Dear Monty’s experience in identifying, screening, interviewing, and selecting agents and the time this saves them. You will have invested just $99 to make sure your hunch was right by comparing your choice to others.
Here are links to articles on this subject you may find helpful:
You can also Ask Monty or call him at (920) 445-8911.
Dear Monty has helped thousands of people find the best agents to meet their needs using the methods described here. While it’s hard to know for certain how well an agent will perform until you hire them, Dear Monty’s unique methods increase the likelihood of a successful transaction.
Get Started Now
Please fill out this short form to get started picking the best agent for you.
Once your form and payment have been submitted, expect a call within 24 hours to clarify any questions we have and to let you know we have begun work. We look forward to working with you!