Choosing a Realtor
Choosing a real estate representative (agents, realtors or brokers) is important to meet your real estate goals. Either when selling or purchasing a home selecting the best fit for you like finding shoes that feel great and provide you with the best support. Fancy or popular shoes like realtors may or may not fit well past the first week.
Word of mouth is the best recommendation that a realtor can get as well as providing you with the best service since you become aware of them through your common circles of friends, family and workplace.
Do you want to work with one competent person from the kitchen table where you initially meet to the closing table at the title company or are you comfortable working with a team of people i.e., list agent (the Face), managing agent (takes the file through the process), close agent (finishes the deal). Many of the big-name realtors use this approach.
Ask the prospective realtors the following questions. Their responses will provide you with information that will help you find the partnership and representation that you are looking for.
· How well do you know the area? Have you done prior business in this neighborhood?
· Are you a full-time or part-time real estate agent? (full-time brokers give you full-time business.)
· How many transactions on average do you complete yearly? (This is a better question than ‘How long have you been in the real estate business.’ The national average for agents is 12 transactions. That is really not very many real estate deals. (www.theclose.com/real-estate-statistics)
· How do you handle negotiations? Their answer will provide insight into the agent’s philosophy and approach to of business. Does it match your style? Do you want a “people person” or an aggressive personality or perhaps they have difficulty providing an answer due to a lack of experience?
· What is their preferred form of communication? Are they willing to communicate with YOUR preferred method of communication? I had a realtor respond to me recently that email was “So 90’s. Everyone texts today!” Ouch. Being the one who is selling or buying, you are the boss. Realtors work for you.
· Have you ever lost a home listing to another agent? If the prospective realtor says “no”, they have not done much business. Has Tiger Woods ever hit a bad golf shot? Of course, he has because he has hit so many shots in his career!
· Can you provide me with service providers to complete the transaction as well as beyond? Good realtors have a team of recommendations to assist you in many areas such as obtaining a mortgage, suggesting a great attorney, making home repairs and updates, to finding pest exterminators.
Your questions that come to mind during the interview that are not listed here are certainly valid. Topics of duel agency, commission or compensation rate, and past references are important.
Be wise. Find a good fit and keep in mind that in the scheme of life this is a short-term business relationship that can either be extended or terminated. It will all work out.