A Key Question
To Ask an Agent

Question: We're about to list our house and I've heard the most important question to ask when interviewing an agent is, "How much can you get for my home?" Is this right and if so, what's the correct answer?

Dear Sandy: That's the most common question sellers ask, but it's definitely NOT the most important one. Many sellers who believe they know what their home is worth test would-be agents by asking it. If the agent answers too high, they feel he or she is trying to "buy" the listing by giving an inflated price.

If they answer too low, they feel the agent is trying to "steal" the listing by undervaluing the property in order to get a quick sale. The problem is that few sellers really know what their home is worth. That figure is best arrived at by working with an agent to analyze a comparison of other similar homes that have recently sold. Keep in mind, there is no one right answer.

You home will sell within a range of prices. Price it high within that range and it will take longer to sell. Price it low within that range and it will sell faster.

The best question to ask a prospective agent is, "How will you MARKET my home?" The answer you want to hear is that the agent will caravan other agents by, will hold several "open houses" for agents (not the public), will talk up your home at Realty Board meetings, will FAX other agents about your home and so forth. The fact is that more than 90% of buyers are working with agents right now. The best way to get to those buyers is to let their agents know about your home. The best thing a listing agent can do is to spread the word about your house amongst fellow agents in the field.

Of course, you will also want to know that your agent has been in business for a long time, specializes in property in your area, belongs to local and national business and trade associations and can provide you with at least four references of listings he or she recently sold.

Mr. Irwin has more than 25 years' experience as a Los Angeles-area real-estate broker. He is the author of more than two dozen books about real estate and is recognized as one of the most knowledgeable writers in the real-estate field. Mr. Irwin's most recent book is "Find It, Buy It, Fix It," (Dearborn, 2000).

Submit your question about residential real-estate and home-improvement issues to homes.wsj.com. Please include your first name and city and state.

Sandy, Torrance, Calif.

Email your comments to rjeditor@dowjones.com.