When trying to identify a real estate agent to either list or find a new home to purcahse, it is important to consider who you are hiring. It was not too long ago that I heard a statistic (and we all know 70% of statistics are rumors) that one out of every five people held a real estate license in our State of California. That is a staggering statistic if in fact it is true. Throw a rock and you'll hit a licensed real estate agent.
Most of us laugh at a statistic like this, and then dismiss it as a useless piece of trivia. Realistically this statistic is a little scary... because most people will end up working with someone, despite their being licensed, that does not have the experience, resources, systems, etc... in place to secure the absolute best terms for their client.
Contracts, what is included, how they are structured and written, and even presented to the listing agent is imperative. Counter offers need to be well structured as well. The listing should be fairly priced commanding offers while securing the highest possible sale point. The responsibilities that a real estate agent has are significant.
So how do you identify the right real estate agent to represent you? Start with what you are trying to accomplish. Selling a home or buying a home? Their are specific agents that specialize in these independent fields. In addition understand what you are looking to sell or buy... a primary residence, investment property or second home. Again agents focus in these niches.
The most important thing you can do is find an agent that works exclusively in your market. This will ensure they have the resources and connections necessary to fulfill your expectations.
Ask for references. Get references from past clients.
Interview more than one real estate agent. You would be surpirsed how many people do not do this. Finding someone that you get along with and see eye to eye with is important. You do not want to be butting heads with your agent.
Test their negotiating skills, after all this is what you hired them for - negotiating. Remember all fees in real estate are negotiable. A buyer's agent can credit part (or all but good luck with that) of their commission to help you with closing. Don't be afraid to ask, and see how they handle your inquiry. I am not suggesting you not work with them if they are not willing to lower the commission, on the contrary, this type of questioning is meant to determine how good that agent is under pressure, and if they possess the capacity to justify they're earning their full commission. If they can't how can they justify selling your home for full list price, or justify your low purchase offer.
Negotiating skills by in large is the most important quality your agent should possess so make sure to test them on these abilities.
Full time. This should be a requirement for whatever agent you contract. Part time agents working real estate on the side simply are not involved enough in the day to day of the market to represent you and provide you the best/top level of service.
Focus in your area. Let's be honest Oceanside has very little in common with Chula Vista and Poway. Make sure your agent operates in the region you are interested in. Operating inside their area will ensure maximum knowledge about the market. Pull an agent out of their comfort zone and their resources may not apply. This is critical and should not be ignored.
This is a list that is by ne means complete, but does touch on the more important aspects of agency. I encourage professionals and consumers alike to add comments to this post sharing stories - good and bad - regarding agent experiences. Please refrain from using specific names unless you are prepared to identify yourself as well. This is not meant to call out bad agents, but rather provide the resources necessary for consumers to identify bad agents on their own.
Happy house hunting, and if you have any questions or are looking for an agent, I am happy to refer agents I know and trust inside our community.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment