By Teri Silver
Source
Buying or selling property is a major financial transaction. Choosing a real estate agent is simple if you know what you’re looking for, but picking through local listings isn’t the best way to do it. Not all real estate companies are the same, and not all agents have the best type of experience to get the job done.
No matter what type of deal you’re looking for, you want a trustworthy agent who has your best interest in mind. Check out 8 top qualities to look for when choosing your real estate agent.
1. Honesty
Are real estate agents honest? The truth is, that the National Association of Realtors requires agents to complete 2½ hours of ethics training every 3 years and abide by a strict code of
ethics. Real estate agents are required to be honest, demonstrate integrity, and not mislead clients.
Use your best judgment — and check out what other clients have to say — when gauging the honesty of local agents.
2. Experience
Hiring an agent who knows the ropes is a good starting point. Experienced agents have long-term relationships with agents in other companies, and people who know each other may work a little harder to get the job done.
Ask these questions when vetting potential candidates:
● How many years have you been a real estate agent?
● Is this a full or part-time job?
● What is the ratio between your representation of buyers and sellers?
● How many homes do you sell in a calendar year?
● What is your understanding of today’s market?
● How will you make my home stand out?
● Can you explain the contract’s important points?
● Have you ever bought and sold your own personal property?
3. Local Expertise
Good real estate agents know the local market. They can compare the housing sales trends in a particular neighborhood and stay up-to-date on everything when it comes to buying and selling houses and commercial properties.
Unlike large real estate companies. local agents are more in tune with the areas they represent. Local agencies keep up with the details of nearby developments and neighborhoods. Property values may vary, even in adjacent subdivisions — local agents will know the comps (sales price comparisons).
Whether you want to purchase a home in a small town with a tight-knit community or a large city where you can enjoy the nightlife and dining scene, your real estate agent knows where to look. And a good agent also knows about nearby school districts, parks, shopping, churches, mosques, synagogues, and other amenities.
4. Negotiation Skills
Experienced real estate professionals know how to talk a good game when it comes to negotiating prices, contingencies, and the bottom line. Coming to terms on a house may be as simple as agreeing on a price, but often there is more to it. For example, does the house need
serious structural repair? How about a carpet allowance or new appliances? Your agent needs to be a skilled negotiator to help you navigate contingency terms and get the best deal.
5. The Agency Matters Good real estate agencies work with their employees to push consumer interest, especially if the property has been on the sales market for a long time. Ask yourself, if my agent isn’t getting the job done, will the company step in to help? If there is a small, but unmoveable, price standoff, will my real estate agent take a cut to get the deal done?
Good real estate agents – and their parent companies – know what terms of a deal are negotiable, and how to offer creative solutions. If they will.
6. Details Matter
Even the smallest detail can become a big issue if it’s overlooked. Being detail-oriented and having a strong comprehension of legal contracts is extremely important for real estate agents. Although these representatives are NOT attorneys, they should know how to complete all real estate contracts and paperwork.
7. Communication Skills
Buyers and sellers want to be heard. Good real estate agents listen to the wants and needs of their clients. When talking to potential agents, how well do you understand what they’re saying? Are they talking at you, or are they engaging your interest? Do your personalities mesh?
Good agents teach their clients the ins and outs of buying and selling property. A truly interested representative won’t merely negotiate the best deal, they will involve you every step of the way.
8. Resources
People buy and sell properties every day. Licensed real estate agents have access to the National Association of Realtors’ Multiple Listing Service (MLS), providing information on property value, taxes, and average utility costs.
Creative and smart agents can also help you with several extras, like finding the right insurance policy and locating information for building permits. They’ll find solutions to seemingly small but important matters.
Finding the best real estate agent is a personal decision and one that may take a little time to determine. But connecting with someone you like and trust is the first step to making a great real estate deal.