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How to Choose a Real Estate Agent
By : Karen Vertigan Pope
One of the most important financial decisions you will ever make is buying or selling a home. Amazingly, few people give finding the right real estate agent much thought. Many times an agent is chosen because of the recommendation from a friend or relative or from an ad in the newspaper. Taking time to select the right agent to meet your needs can save you aggravation and effort in finding a new home or selling your home quickly.
Just picking up the phone book and choosing a real estate agent based on their yellow pages ad is just as smart as choosing a brain surgeon by the same method. Once you make the announcement that you are ready to buy or sell a home, you may be surprised at the number of people who want to represent you. You won't have to worry about finding an agent; you only have to worry about finding a good agent.
Most people are totally backward in the process. They pick up the phone and call about a house they are interested in and from that point on, they are joined at the hip to an agent who may or may not be any good. You have no way of knowing if they are indifferent to your needs, or maybe very new in the business. The only thing you know for a certainty is they are capable of answering a telephone. Find an agent before you find a house.
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This is especially important if you are selling a house. Your house is the most valuable thing you own, so it is imperative that you find an agent your can trust. This agent has a tremendous responsibility to you and a tremendous duty--a duty of trust and confidence.
Where to Start?
Asking friends and family for suggestions is a place to start, but don't hire an agent solely on their recommendations. Don't choose an agent based on their personality alone.
The best way to proceed is to choose an agency first and then ask them to suggest a couple of the top agents. Stick with the person you choose. If you see a sign in front of a house with an agent listed, their responsibility will be to the seller first and you, the buyer, second. Let your agent know which property you are interested in and allow them to take over from that point.
What to Consider
Your real estate agent or broker must be licensed by the state to sell real estate. Choosing an agent that is a Realtor means that person is also licensed by the National Association of Realtors and therefore must abide by a strict code of ethics.
* Avoid dual agencies in which the agency represents the buyer and the seller. It is impossible to be equally represented.
* Choose an agent that handles homes in your price range.
* Choose an agent who listens to what you want and who will take the time to explain things you do not understand. You are paying for their time, so allow them to earn their money and ask the hard questions.
* It is important to choose an agent who is available on your time schedule. If you are only available to look at homes on Sunday, and your agent doesn't work that day, then find one to accommodate you and not the other way around.
* Make sure your agent can assist you with other services, such as arranging a house inspection, refer you to qualified lending professionals who will assist you with needs, and find real estate attorneys.
* If you are buying a home, interview the prospective agent just as if you were hiring them for a job, because you are! Ask questions. Take notes. Interview several agents before making your decision.
* If you are selling your home, ask about the agent's marketing plan. If they are offering just an MLS listing, they are not earning their commission. Make a list of questions and ask every potential agent the same set of questions so you can compare apples to apples. Ask them to explain the market conditions. Ask what makes them different from other agents. Ask why you should choose them. Ask about their firm. Ask for the names and phone numbers of former clients and once you get this list, use it.
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