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How to Select a Realtor
It doesn't matter if you're looking for a doctor, dentist, lawyer or accountant. Many of the same questions, hesitations and strategies connected with seeking out professional assistance in any field come into play when you're selecting a real estate agent.
Some people find an agent through a family member or friend. This is often a reliable approach. But experience suggests that you can't always find the most compatible assistance this way. And in a transaction as important and intensive as buying and selling a home, that can be critical. A referral from a family member or friend doesn't guarantee a perfect match.
Regardless of how you get an agent's name, it might be worth interviewing at least a couple before you make a final decision. After all, there's a lot at stake.
A few things to look for:
- If you're looking for an agent to list your home, be wary of anyone who suggests they can get an unreasonably high sales price. The strategy of setting a list price too high, then lowering it later often produces disappointing buyer traffic. Meanwhile, you've lost what can be the most critical time period in selling a home - the first weeks immediately after it's listed.
- Check on experience, education and productivity. As with most professions, experience pays in real estate. Experienced agents know both the market and the marketing process. They'll have the best chance of quickly and smoothly helping you to buy or sell your home.
- Professional designations suggest a level of expertise and commitment that goes beyond just earning and maintaining a real estate license. Look for such as designations as Graduate Realtor Institute (GRI); Certified Residential Specialist (CRS); Certified Relocation Professional (CRP); Leadership Training Graduate (LTG); and, Accredited Buyer Representative (ABR).
- The number of transactions an agent is handling monthly or yearly is going to give you an indication of how committed the agent is to the profession. Is the agent a part-timer who's just dabbling in real estate sales - or is the agent a full-time professional whose livelihood depends entirely on an ability to successfully and repeatedly close real estate transactions?
- If you're a buyer - does the agent offer buyer agency? More and more buyers are deciding they want full contractual representation on the same level as the seller. Be sure to discuss buyer agency with any Realtor you're thinking about working with.
- Does the agent know the market?
- Do you see the agent's yard signs in the area?
- Is the agent part of a national network? This is especially important if you're selling in one city and preparing to move to another. Your selling agent can refer you to a professional, compatible agent in your destination city - and keep in close contact with that agent so both your selling and buying efforts are closely coordinated.
- And a final point: Does the agent seem primarily interested in sharing expertise and market knowledge in an honest and straightforward manner? You need straightforward, reliable information - even if it's not necessarily flattering regarding the home you're selling - or very encouraging regarding a home you think you might want to buy. Honesty and integrity can pay big dividends long after the transaction has closed.
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