Many first-time real estate purchasers and sellers take the easy route when it comes to finding a real estate agent. They ask someone they know for a name and contact information, call/email the agent and ask a few questions (mostly how much in commissions they pay) and then they sign the contract.
If only life were this easy we’d all be happier. This situation reminds me of a sign I once saw in a popular local restaurant, “we don’t make fast food, we make good food”. Nothing worthwhile comes so quick and easy and not taking the time to do your due diligence can cost you in time and money.
Before signing an agreement with a real estate agent invest a little of your time in getting to know more about your agent to ensure you’re getting what you pay for. Below are six questions that you need answers to so that you can increase your chances of finding the right real estate agent.
Who knows this agent?
Start with the referral process. I know what you’re thinking, “didn’t you just say not to use the referral process to find an agent?”. No I didn’t. I said don’t solely use the referral process. Getting a referral is a great starting point but don’t be lazy, you have more legwork to do. Having friends, colleagues, or family share their experience is helpful in narrowing down your search but be mindful that everyone has different circumstances and just because your cousin loved his agent doesn’t mean you’re going to get the same level of service. And even if you get the same level of service you have to take into account that everyone has different standards. Don’t let someone’s lower standards influence your decision.
How many years of experience in my marketplace?
How connected is your agent with the local community? Some of the best deals occur when somebody knows some “inside” knowledge. I’m not talking about unethical behavior but there are times when knowing the gossip or backstory of why a person is selling/buying or how flexible/inflexible they are helps move the deal along. You also want the inside scoop so you don’t waste your time on a deal that will never take place. The agent may also know industry people in other trades (inspections, construction, banking) that could strengthen you negotiating position or cut through red tape. Remember that the true value of a real estate agent is not just showing real estate, it’s their ability to seamlessly guide you through the process.
How many years of experience in other market places?
Having experience outside of your market gives an agent a different perspective and approach to navigating through difficult situations. Being a real estate agent is like any other profession. If you do the same thing over and over again you tend to get stuck in a box and lessen your creative problem solving skills. You also don’t want an agent who is so boxed into their own market that they don’t try new idea (i.e. social media to sell) because “it’s never worked in the past”.
What licensing & certifications does this agent bave?
Each state has it’s own state agency that oversees the licensing requirements for real estate agents. Check with your state’s real estate regulator to find out if your agent is licensed and if so, does the agent have any disciplinary actions. Make sure your agent at a very minimum is a member of the National Associate of Realtors (NAR). The NAR has a code of ethics that every member has agreed to abide by. There are other certifications that realtors have: CRS (Certified Residential Specialist): Completed additional training in handling residential real estate, ABR (Accredited Buyer’s Representative): Completed additional training in representing buyers in transactions, SRES (Seniors Real Estate Specialist): Completed training aimed at helping buyers and sellers aged 50 and older. If a realtor you really like does not have one of these additional certifications it shouldn’t be a deal breaker but having additional certifications does show the realtor is committed to expanding their knowledge in their profession. At the bottom of the article there is a link to the National Association of Realtors member search.
Is this the agents sole source of income?
This question may seem intrusive but knowing that your agent’s sole source of income comes from being an agent will tell you (1) how successful they are at their job and (2) how much of their time can be devoted to your needs. I’ve personally experienced dealing with an agent who was a yoga instructor. She used real estate as a “side gig”. After our contract expired, with no results, I found a full time real estate agent who showed me what a professional realtor experience was. You want an agent who is free to provide you service when you need it (i.e. during working hours or after hours) and not have to wait until your realtor gets off from their other job(s). You don’t need to know how much money your realtor makes but you should know if he/she has divided loyalties that may get in the way of serving you.
What is the agent’s social media presence?
When you search their name what do I find? Does the broker have no online presence? Does their social media content give you a better feeling for who they are? If available, read online reviews with a grain of salt. Anomalous online review websites can be manipulated by posting exaggerated negative comments by dissatisfied customers or excessively positive comments by friends and family.
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After you’ve done your homework and found all the answers to the above questions satisfactory schedule a face-to-face meeting with your final choices. Ask for, and check, their references If all things are equal choose the agent who makes you feel most comfortable and trust the process.
‘’If you’re interested in finding a member of the National Association of Realtors click on the link to begin your search.
https://www.nar.realtor/rofindrealtor.nsf/pages/FS_FOFFICE?OpenDocument