| 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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