Selecting Your Real Estate Agent
- The Agent brings the market to you. The market decides the price.
- The right Agent is the one who knows the market and can get you the best price possible - not the one who promises you the highest price just to get you to list with them!
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. However, you might not always find the
most compatible assistance this way. 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 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.
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?
Does the agent know the market ?
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 worse still are they getting you to sign up with them just
to pass you off to an assistant who will deal with the “trivia” of actually
selling your home ? The worst time to secure the services of a "yes-man"
or an agent who seems to have too many irons in the fire is when you're
entering a transaction involving something as important 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.