Many of the same questions, hesitations
and strategies connected with seeking out professional assistance
in any field — whether you're looking for a doctor, dentist,
lawyer or accountant — 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 you might
not 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. Just think of something as simple as a movie or
restaurant recommendation. Your close friends rave about a new
Chinese food place downtown — so you check it out. Could this
possibly be the same restaurant they were describing? Mediocre
service. No chopsticks. Bland flavors. It's the same restaurant.
Same cook. Same waiters. Just different perceptions.
Regardless of how you get an agent's name, it might be worth
interviewing at least a couple before you make a final decision
— or at least arming yourself with some criteria to go over with
any agent who has been recommended to you.
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. An agent might use a high listing price to secure a
contract, only to seek a lower price later, after little
traffic is generated at the initial price level. 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 the market and the marketing process. They'll have
the best chance of quickly and smoothly helping you to buy or
sell your home.
Designations — such as the Graduate REALTOR® Institute (GRI);
Certified Residential Specialist (CRS); Certified Relocation
Professional (CRP); Leadership Training Graduate (LTG); and,
in Canada, the Registered Relocation Specialist (RRS) —
suggest an expertise and commitment that goes beyond just
earning and maintaining a real estate license.
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 agent you're thinking about
working with.
- Does the agent know the market? Is the agent active in
soliciting business in your neighborhood? Do you see the
agent's yard signs around the neighborhood?
- Is the agent part of a national network? This can be
especially important if you're selling in one city in
preparation of moving 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? Or does the agent seem more interested
in telling you what you want to hear — or spend a lot of
effort trying to market additional products and services? The
worst time to secure the services of a "yes-man" or
an agent who seems to have a bit too many irons in the fire is
when you're entering a transaction involving something as
expensive as your home. 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.
