| Many of the same questions,
hesitations and strategies connected with seeking
out professional assistance in any field
whether you're looking for a doctor, dentist,
lawyer or accountant come into play when
you're selecting a real estate agent. Some people
find an agent through a family member or friend.
This is often a reliable approach. But you might
not always find the most compatible assistance
this way. And in a transaction as important and
intensive as buying and selling a home, that can
be critical.
A referral from
a family member or friend doesn't guarantee
a perfect match. Just think of something as
simple as a movie or restaurant recommendation.
Your close friends rave about a new Chinese
food place downtown so you check it out.
Could this possibly be the same restaurant they
were describing? Mediocre service. No chopsticks.
Bland flavors. It's the same restaurant. Same
cook. Same waiters. Just different perceptions.
Regardless of
how you get an agent's name, it might be worth
interviewing at least a couple before you make
a final decision or at least arming yourself
with some criteria to go over with any agent
who has been recommended to you.
A few things to look for:
- If you're
looking for an agent to list your home, be
wary of anyone who suggests they can get an
unreasonably high sales price. An agent might
use a high listing price to secure a contract,
only to seek a lower price later, after little
traffic is generated at the initial price
level. Meanwhile, you've lost what can be
the most critical time period in selling a
home the first weeks immediately after
it's listed.
- Check on experience,
education and productivity. As with most professions,
experience pays in real estate. Experienced
agents know the market and the marketing process.
They'll have the best chance of quickly and
smoothly helping you to buy or sell your home.
- Designations
such as the Graduate Realtor Institute
(GRI); Certified Residential Specialist (CRS);
Certified Relocation Professional (CRP); Leadership
Training Graduate (LTG); and, in Canada, the
Registered Relocation Specialist (RRS)
suggest an expertise and commitment that goes
beyond just earning and maintaining a real
estate license.
- The number
of transactions an agent is handling monthly
or yearly is going to give you an indication
of how committed the agent is to the profession.
Is the agent a part-timer who's just dabbling
in real estate sales or is the agent
a full-time professional whose livelihood
depends entirely on an ability to successfully
and repeatedly close real estate transactions?
- If you're
a buyer does the agent offer buyer
agency? More and more buyers are deciding
they want full contractual representation
on the same level as the seller. Be sure to
discuss buyer agency with any agent you're
thinking about working with.
- Does the agent
know the market? Is the agent active in soliciting
business in your neighborhood? Do you see
the agent's yard signs around the neighborhood?
- Is the agent
part of a national network? This can be especially
important if you're selling in one city in
preparation of moving to another. Your selling
agent can refer you to a professional, compatible
agent in your destination city and
keep in close contact with that agent so both
your selling and buying efforts are closely
coordinated.
- And a final point: Does the
agent seem primarily interested in sharing
expertise and market knowledge in an honest
and straightforward manner? Or does the agent
seem more interested in telling you what you
want to hear or spend a lot of effort
trying to market additional products and services?
The worst time to secure the services of a
"yes-man" or an agent who seems
to have a bit too many irons in the fire is
when you're entering a transaction involving
something as expensive as your home. You need
straightforward, reliable information
even if it's not necessarily flattering regarding
the home you're selling or very encouraging
regarding a home you think you might want
to buy.
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