The reason most people pick a real estate agent is as diverse as the population. We had previous experience with the agent, the agent was recommended by a family member or friend, the agent works for a well known broker, the agent was the first person we met when we walked into the broker's office, the agent's name was on a for sale sign, we met the agent at an open house, I saw the agent on the web, etc. Although many of these reasons may be valid for making initial contact with an agent, they are not alone sufficient to make a decision on which agent you should choose to represent you in a real estate transaction.
For most people, buying or selling a home is the greatest investment decision they will ever make. That being the case, it is remarkable how many people don't make sure that they are contracting with the most professional and experienced real estate agent that they can find. How do you do that ? It is simple. Interview !!
No matter how you find an agent(s), you should interview at least three of them to determine which one, if any, meets your needs. What do you look for and what questions should you ask will vary depending on your needs. Sometimes compatibility of personalities may be the most important thing to you. Whatever, you should ask yourself, what type of person you want representing you in the most important investment you will ever make.
First let's examine what you should be looking for when interviewing an agent to list your property. The only assumption here is that you are only interviewing agents from full service brokers. Discount brokers generally do not offer all of the services that are offered by full service brokers. Was the agent on time ? Promptness is an indication of a persons work ethic and his or her ability to handle many tasks simultaneously. The good agents are always busy and always get the job done efficiently and effectively. Does the agent have a professional appearance ? Who do you want representing you ? An agent in blue jeans or one in a coat and tie ? Of course if you are selling a farm, perhaps the blue jeans would be apropos. Did the agent ask to see your property and did the agent take notes during the tour. Some agents get so wrapped up in trying to get the listing they forget to see what they are selling. If your agent doesn't show a desire to know everything possible about your property, then you have the wrong agent. Is the agent prepared? If an agent walks into a listing presentation unprepared, does not have a formal presentation, has not done a comparable analysis to predetermine the relative value of your property, does not have good knowledge of the real estate industry and its local market conditions such as days of inventory on hand and is unable to speak clearly yet congenially, then that agent is probably not a good choice.
After you have had time to size up the agent, you should ask questions from a previously prepared list. Questions that may be asked are; How many years of experience does the agent have? Does the agent have references ( unless you got the agent's name from a reference)?
What is the agents sales volume? What is the size of the broker ? Is the broker a full service company ? What is the broker's customer satisfaction rating ? How will the property be marketed ? Will the property be listed in the MLS ( multiple listing service), Realtor.com, Craigs List, etc. ? How many web sites will your listing be placed on ? The agent should be able to give you at least 20 websites. Ask for examples of some of these web sites so that you can view the listings for yourself. Will there be a virtual tour of your home ? Will the agent prepare a home book and / or professional brochure for all potential buyers to take. Ask to look at a brochure from a previous listing. Will your listing be advertised in the newspaper ? Will the agent send out any direct mailings to neighbors and potential target areas ? Will there be a for sale sign place on the property ? What will it look like ? Is the broker a cooperating broker ? Will the agent hold open houses for both other brokers and potential buyers ? Who will sit the open houses ? How often will I hear from you ? How do you negotiate an offer ? Do you verify the buyer's financials ? Do you verify the viability of the buyer's mortgage broker ? Who will do the conveyancing ? What do you do to ensure that all contingencies are met ? Will you be at the closing ? At what price should we list the property ? At what price will the property sell ? How were these prices determined ? What is your estimate as to how long will it take to sell the property ? What is the commission being charged, and the duration of the listing contract ? ( these are always negotiable) What do I need to do to get my property ready for sale ?
If some of these questions and terms are confusing to you that's okay. A good agent will be able to explain what they are and how they handle them.
When interviewing an agent to represent you in buying a property, many of the above questions are good to ask. However, you should really hone in on the agents knowledge of the market, negotiating skills and technological skills. A good agent will spend a good deal of time interviewing you to determine the exact home you want. The agent should make sure that you are pre-qualified by a reputable mortgage company and that you know exactly what you can afford to buy. The agent should be able to search the MLS and e-mail, fax or mail you properties that meet your criteria. This allows you to preview properties from your home or office and eliminates a lot of wasteful time looking at properties that are undesirable. Finally, the agent should be able to negotiate a great deal for you . Ask them how many homes they have negotiated the sale price on and what were the price ranges and locations of these homes.
As you can see, it is not easy to choose a real estate agent. however, it can be one of the most important choices you will ever make.
If you have any other questions on real estate, contact us at JerryGea@comcast.net or visit our web site at http://www.sheilagea.com/
or visit our web site at http://www.sheilagea.com/
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