| 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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