The decision to buy or sell a home is one of the most important financial decisions most people make, yet many give little thought to finding the real estate agent best suited to their needs.
Agents are often chosen solely on the recommendation of a friend or an ad in the newspaper. But choosing the right agent can save you time, effort and aggravation in finding the perfect home at a price you can afford or selling your home quickly for top dollar.
Real estate has always been a mark of independence and freedom in this country, owning property is very important, and when you deal with someone who is going to help you buy or sell a piece of property, you'd better find someone that knows what they're doing.
If you pick up the phone book and choose from the yellow pages, you won't make a better decision than if you picked up the telephone book to choose a brain surgeon.
When you announce your desire to sell a property, you may be surprised at the number of real estate people who want to represent you. Agents come out of the woodwork. You won't have to worry too much about finding an agent
Buying a house is the most important financial transaction most people will make in a lifetime.
The most important thing when either buying or selling a home is to select the right real estate agent, but people usually go about it backwards.
If you're selling, your property may be the most valuable thing you own and it is of utmost importance to find an agent you can trust. A real estate agent has a high fiduciary duty
Getting Started
Whether you are planning to buy or sell a home, follow the guidelines below:
* Ask friends for referrals. Friends can give you a starting point, but don't hire an agent solely on a friend's recommendation.
* Choose the real estate agency first, and then ask the agency to recommend a couple of their best agents. Then stick with him/her. If you see a house for sale and call the agent listed on the sign, that agent's first concern will be representing the seller, not you, the buyer. Sometimes the agency is associated with a franchise. If you select a franchised agent, you have the advantage of national name recognition and usually a strong national advertising campaign. But beware. You aren't guaranteed a great agent just because you selected a well-known real estate franchise. You should select an agency based on that office's reputation
* Consider choosing an agent who is a Real Estate Institute Member. In addition to being licensed by the state to sell real estate, REI members must abide by a strict Code of Ethics. Brenner says.
* Choose an agent that handles homes in your price range. Some agents specialize in high-end properties and won't give their best effort on properties under a set value. If they usually deal in fixer-uppers, they won't have the experience to navigate "Millionaire's Row".
* Choose an agent who listens to your needs and takes the time to explain things you might not understand. Real estate transactions can be complicated and the terminology confusing. You need an agent who will both know the answers to your questions and takes the time to explain them. It's extremely important to find an agent whose personality you like, an agency with professional, trustworthy agents. You want them to be bright, professional, trained, and someone who works in the business full-time, but personality is important. You're going to spend a lot of time with this person whether you are buying or selling. If you hate the agent and the agent hates you, you may be too far along in the process to correct it.
* Choose an agent who works on your time schedule. If you can only look at homes on Sundays and your agent doesn't work that day, look elsewhere. If a listing agent doesn't work on weekends, consider who will be responsible for showing the house on weekends or holding open houses.
Interviewing Prospects
The biggest challenge is to find the agent that will work the hardest for you.
The only way to find the agent that's right for you is to sit down with them and ask questions.
You should interview agents just as though you are hiring them for a job, because you are! And remember that you are doing the agent a favor by giving him your business.
When interviewing agents who want to list your home ask them how they would earn their fee. What is their marketing plan? How many buyers do they have on their books currently?
Interview three different agents from three different agencies is a good idea.
Ask all of them questions
Here are five more questions, the experts agree, you should ask any agent:
* How long have you been in the real estate business? Real estate is a field where people come and go quite often. Selling real estate isn't an easy thing to do, and many agents get discouraged and quit. You should choose an agent with several years of good experience.
* How many homes have you listed during the past year? Or, how many have you sold in the past three months?
* Have you ever had any complaints from your clients? It's a tough, but necessary question.
* Can you give me the names and phone numbers of past clients for references? Once you get the list
* How often will I hear from you? How frequently does the agent normally communicate with his clients and how (phone, e-mail, fax)? If you don't like the answers you should discuss this at length until you're satisfied you're on the same wavelength.