Chosing the right agent
Finding the right real estate agent to help you sell your home is everything. Real estate transactions are complicated, and if you're like most home buyers, all your assets are on the line. But all real estate agents aren't created equal. Some realtors get personally involved every step of the way, while some farm out a lot of the work to other brokers. The amount of formal education a realtor has, the knowledge they have about the neighborhoods you want to buy into and the real estate listings they have access to vary widely.
- Know what type of representation you're looking for. Most real estate agents are seller's agents, meaning they only represent sellers' interests (to the disadvantage of buyers). This is great if you're a seller, but if you're looking to buy a home inquire about buyer's agents - brokers who represent the buyer's interests in real estate transactions - at any agency you look at.
- To find the right agency, do some legwork. There are lots of real estate agencies listed in the phonebook (and online). But if you pick one at random you'll probably regret it. Explore the neighborhoods you're interested in buying into and look for realtors/brokers nearby.
- Search for real estate agents, not individual homes or properties. You may be looking through your newspaper's real estate section one day and fall in love with a home that a particular real estate agent is listing. However, the agent might tell you that property is taken, but they have others you'd love. Less reputable agencies will often use this bait and switch trick to lure in customers. Chances are you're not going to get the first home you fall for anyway. The long-term relationship you have with your real estate agent is more important than any particular home.
- Look for experience. The real estate profession has a high rate of turnover, which means lots of untested agents are constantly moving in and out of agencies. If you're considering working with a particular realtor or broker, ask how long they've been practicing. If it's been less than two years, keep looking.
- Look for commitment. Many real estate agents only practice on a part-time basis and they might not have the time or drive to give you the attention you deserve. Also, many brokers are only interested in representing properties within a certain price range. If your home isn't in it, they might not give it their all.