Find the Agent that Fits Your Needs!
This is the person you will trust to guide you to the right home or find the best buyer so don’t just hire the first relative or neighbor that offers to help. Agents are trained professionals who can add significant value if you take the time to find the right one.
The next time you need to hire an agent, use these 10 tips and you will increase your chances of landing the perfect real estate agent.
1. Interview agents who work in your neighborhood of choice; ask if s/he works full time and for how long.
Things to watch for:
- Going with an agent whose normal territory is “close” to where you are looking could mean you get someone who is “close” to understanding where to find the home for you. In other words, close is not close enough in this situation. A local agent has a better chance of having a pocket listing or of steering you to the right part of the neighborhood.
- Just because an agent isn’t full time doesn’t mean they are bad. Still, you should be comfortable that the agent is knowledgeable, well-trained, and ambitious. Someone who only does one or two listings a year or is new to the job may not be any of the above.
2. Inquire about the number of homes s/he has listed and SOLD in the past year and request references.
Things to watch for:
- An agent who has a strong track record will be able to provide references instantly.
- Looking at the list of homes sold in the past year will tell you a lot about the agent. What price range are they most comfortable with, what areas do they focus on, how many homes have they sold? There is no right or wrong answer here, it is just information to help you effectively compare different agents.
3. Sellers’ and buyers’ agents represent conflicting interests. As a seller, hire a listing agent with a marketing plan you embrace; as a buyer, hire a buyer’s agent who is on board with your objectives and budget before committing.
Things to watch for:
- A top agent is going to have a top marketing plan. It should include all the channels they will use to get your home in front of people, a clear plan for pricing and negotiation, objectives and deadlines, and this should all be documented. Do not rely on a kitchen table chat and a few notes on a yellow pad.
4. Good agents have good information on mortgage professionals, insurance, building inspectors, local schools, worship and shopping centers, renovating professionals and more. Get the answers you need.
Things to watch for:
- This list should be prepared and available to you. In addition, the agent should be able to speak to their personal experience with contactors, mortgage brokers, etc. If they can’t then the recommendations are of little value.
5. Ask to see a couple of key metrics. List time to market average and list price to sales price ratio. While neither of these ratios tell the whole picture, they are good indicators of an agent’s ability to price a home accurately and of their aggressiveness in the market.
Things to watch for:
- If an agent’s list price to sales price ratio is way off, meaning their average sales price is significantly higher or lower than list, you will want to understand why. Similarly, if the average time on the market is higher than the market average, you will want to investigate why.
6. Choose a positive person who will respond in a timely manner. Trust your instincts.
Things to watch out for:
- Agents live by their cell phones and email. If they do not get back to your initial requests quickly, what are the chances they will get back to you when it really matters?
7. Ask about guarantees. Do they stand behind their promises? What happens if they don’t and you want to change agents? Has anyone ever asked out of a contract before?
Things to watch for:
- This one is self-explanatory. Find an agent who guarantees they will do the work. If you are unhappy you should be able to move on.
8. Ask what fee the agent will charge. A fee is always negotiable but it’s a lot more comfortable to discuss this at the beginning of the process than at the end.
Things to watch for:
- If an agent tells you that their agency doesn’t allow fee negotiation, they are probably telling the truth. The agency may not allow the agent to negotiate, but that doesn’t mean you can’t negotiate. Simply ask the agent who in their agency is authorized to discuss fees and ask to speak directly with that person.
9. Find out how the agent works. Do they spell out objectives for every meeting? How often do they plan to contact you? If plan A doesn’t work, is there a plan B?
Things to watch for?
- A good agent will have answers to these questions. If they are winging it, they are either so good that you have nothing to worry about or more likely, they do not know what they are doing.
10. And finally, find out how many listing they will be working along with yours. You want to know how much time they can dedicate to you and whether or not they are representing someone else at your same price range.
Things to watch out for:
- An agent who has multiple listings may or may not have the time for you. Ask them if they think there is any issue with you being the top priority.
- An agent who is representing multiple buyers or sellers in the same price range could face a tough decision. Whose interest do they serve first? You need to make the call on whether you are comfortable in this situation.
Best of luck in finding an agent!
If you need any help with the process, need a referral, or just have questions, feel free to contact us at 1(800) 293-1102.
