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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