Here\u2019s How You\u2019ll Know You\u2019ve Found the Right Agent
\nBy: HouseLogic<\/p>\n
Published: February 27, 2018<\/p>\n
A great real estate agent is like an Oprah for living your best real estate life.<\/p>\n
For every journey, there is a guide. To explore the West, Lewis and Clark had Sacagawea. To navigate his magical powers, Harry Potter had Dumbledore. And to discover our best lives, America has Oprah.<\/p>\n
Then there\u2019s the all-too-real journey of buying a home. For that, you have an Oprah of your own: your real estate agent \u2014 a licensed professional who\u2019s familiar with local home values and neighborhood perks, understands real estate trends, can write an offer on your behalf, and who negotiates with home sellers so you don\u2019t have to. <\/p>\n
Think of your agent as a therapist\/consultant for your home search. A collaborator. A co-conspirator. A mentor. Someone who amps up your confidence and counsels you through big decisions (teamwork makes the dream work, after all). And, someone who wants you to find a house you can be happy in because they\u2019re invested in your happiness. <\/p>\n
If the housing market doesn\u2019t line up with your needs and budget, your agent will go back to the drawing board with you. They interpret raw housing data through the filter of your unique search, then tell you what\u2019s important and why. They help you map the path to your goal, and connect you with trusted experts who can get you into your dream home. (Cue selfie of you drinking wine in your new living room. First like on Instagram? Probably your agent.)<\/p>\n
That\u2019s a lot of responsibility. And a lot of pressure. There\u2019s obviously a lot at stake: money and time, of course, but also your happiness. So reach out to an agent sooner in the process rather than later, and you\u2019ll be on the fast track to picking out paint swatches for your new kitchen.<\/p>\n
Agents, Brokers, and REALTORS\u00ae: What\u2019s the Difference?
\n\u201cAgent\u201d is a catchall phrase that is used, in casual conversation, to describe the three types of professionals who buy and sell real estate: agents, brokers, and REALTORS\u00ae.<\/p>\n
No, they\u2019re not really the same. Yes, you should care about what makes them different. Here\u2019s a breakdown:<\/p>\n
A real estate agent is a licensed professional who helps people buy, sell, rent, or invest in homes. To become an agent, a person must take pre-licensing training from a certified institution (these vary from state to state) and pass their state\u2019s real estate licensing exam. Once they have their license, an agent must affiliate themselves with a real estate brokerage. <\/p>\n
Some agents specialize in representing buyers, some specialize in representing sellers. Some do both. An agent who represents both the buyer and the seller in the same real estate transaction is called a dual agent. By law, a dual agent must disclose dual agency to both parties. (If an agent is seeing other people, you obviously need to know.)<\/p>\n
A real estate broker is a professional who has additional education beyond the agent level, as required by state law, and who has passed a broker\u2019s exam. In some cases, brokers also have more years of experience than agents. The biggest difference between a broker and an agent is that a broker may work independently. An agent must be overseen by a broker. <\/p>\n
A REALTOR\u00ae is a broker or agent who belongs to the National Association of REALTORS\u00ae (NAR), the largest trade group in the country. (Full disclosure: NAR publishes HouseLogic.com). A REALTOR\u00ae commits to following a strict Code of Ethics intended to protect buyers and sellers; for example, REALTORS\u00ae pledge themselves to protect and promote the interests of their client. Agents and brokers who are not NAR members can\u2019t call themselves REALTORS\u00ae. There are more than 1 million REALTORS\u00ae in the United States. You can use realtor.com\u00ae\u2019s Find a REALTOR\u00ae tool to connect with one in your area.<\/p>\n
In most cases, using an agent, broker, or REALTOR\u00ae won\u2019t cost you a penny because the seller typically pays both the listing agent and buyer\u2019s agent\u2019s commissions. However, some buyers\u2019 agents request a representation fee from the buyer. That\u2019s rare.<\/p>\n
The Best Agent for You Depends on … You
\nBefore you seriously partner with anyone, you\u2019ll probably survey family, friends, and trusted acquaintances for at least some input. Finding a real estate agent is no different: A great starting point is to ask your inner circle and neighbors for recommendations. According to recent NAR research, 52% of buyers 36 and younger found their real estate agent through a referral.<\/p>\n
Then there\u2019s the internet.<\/p>\n
Each of the major property listing websites \u2014 realtor.com\u00ae, Zillow, Redfin, and Trulia \u2014 has an agent-finder tool that lets you search for agents in your area. These property sites also collect reviews and ratings from an agent\u2019s past clients, which gives you insight into an agent\u2019s reputation. Keep in mind, though, that the sites vary in their policies about whether agents can edit or remove reviews. (Like with Yelp, use your own discretion.)<\/p>\n
The sites also show an agent\u2019s sales history, so you can see how many homes a person has sold. In general, it\u2019s best to choose an agent who has a large number of sales under his or her belt (a sign they\u2019re committed to real estate work). Perhaps even more important: an agent who has sold homes at the price point and in the neighborhood where you\u2019re looking to buy \u2014 a sign they understand the local market.<\/p>\n
Whatever you do, don\u2019t rely on online listings alone. Always interview prospective agents \u2014 at least three \u2014 in person. A meet-and-greet will give you the perspective you need on the agent\u2019s personality and style. Is this someone you\u2019ll like working with? Who has a sense of humor? Who has your back? Who communicates in the ways you want to be communicated with? Best to find out in person.<\/p>\n
Explore More Topics:<\/p>\n
Find an Agent & View Homes<\/p>\n
Buy a Home: Step-by-Step<\/p>\n
How to Know If An Agent Is Knowledgeable
\nOnce you\u2019ve gathered all the information, listen to your gut: It won\u2019t steer you wrong about who\u2019s the best agent for you.<\/p>\n
But, that said, there are a few qualities you\u2019ll want to look for in any agent (your gut would agree):<\/p>\n
Local expertise. Does this person know their stuff about neighborhood home value trends, shops and restaurants, schools, commute times, and geographic factors such as floodplains? These things are important, especially if you\u2019re looking for a home in a new city or town. If the agent seems lost or like they\u2019re winging it, keep looking.
\nResponsiveness. You\u2019ll have a lot of questions, and will be asked to produce documents at certain steps during the buying process. Think about how available you want your agent to be, and how quickly you want him or her to respond. One way to figure that out? Contact a prospective agent online or by phone and see how long it takes them to reply. If you don\u2019t hear back within a timeframe that works for you, it\u2019s probably best to move on.
\nReputation. This is when to consult your inner circle again. The agent-finder tool mentioned above can also help. In addition, you\u2019ll want to verify the agent\u2019s license; search \u201c[state] real estate license lookup\u201d to find a resource for your state. If you want to confirm whether an agent is a REALTOR\u00ae, you can call NAR at 1-800-874-6500.
\nThere are a number of professional designations that indicate an agent has obtained additional education beyond their licensing work. An accredited buyer\u2019s representative (ABR\u00ae), for instance, is someone who specializes in working with home buyers and has taken a course on buyer-client relationships. You can search the different types of designations here.<\/p>\n
Don\u2019t Be Afraid to Ask a Lot of Questions
\nCongratulations! You now have a list of agents you like based on their stats, and you\u2019re ready to get to know the finalists. Binge a few episodes of “The Bachelor” for pointers \u2014 just kidding, don\u2019t do that.<\/p>\n
What to really do: Schedule interviews with the top three agents, at least. During each conversation, your goal is to understand the agent\u2019s experience, personality, and working style. <\/p>\n
Here are 13 questions that will help the vetting:<\/p>\n
How many years have you been in the business? Having more experience doesn\u2019t guarantee that someone is a great real estate agent, but a lot of the business is learned on the job.
\nHow many homes have you sold in the last year? Volume isn\u2019t the most important factor when choosing an agent, but you want someone who is active in the industry. Also, the more transactions an agent has under their belt, the more adept the person should be at solving complicated problems that can crop up during a home sale. Remember: Your transaction is unique.
\nHow will you help me determine my needs and priorities? The agent\u2019s first task is to help you identify your list of \u201cmusts\u201d and \u201cwants\u201d \u2014 the home features that you need, versus the features that you\u2019d like to have but can live without.
\nIs your real estate license in good standing? You can also check with your state\u2019s Real Estate Commission to confirm the agent has no disciplinary actions.
\nHow will you stay in touch with me? Your agent\u2019s communication style should align with yours. If you prefer to be contacted via text when new listings crop up, make sure your agent is able to do that.
\nWhat neighborhoods do you specialize in? You want an agent who\u2019s intimately familiar with the neighborhood(s) you\u2019re interested in. Another way of framing this question is to ask, \u201cHow many homes have you sold in this neighborhood in the last year?\u201d
\nWhat price range do you typically work in? In addition to being a neighborhood expert, your agent should do a large portion of their business with home buyers in your price range. It\u2019s important because challenges and negotiation strategies can vary based on what type of home you\u2019re buying.
\nHow many other clients are you working with? You want someone who can give you quality, {{ start_tip 72 }}one-on-one customer service{{ end_tip }} when you buy your first home. If the agent seems spread thin, it\u2019s probably because they are.
\nHow are you a good agent for first-time buyers? First-time home buyers face specific challenges. Every buyer has a unique transaction. Good agents can explain what you should expect and how they\u2019re going to help you navigate your special circumstances.
\nHow will you find homes that match my criteria? Seasoned real estate agents don\u2019t just use the local Multiple Listing Service (MLS) \u2014 a regional database of registered property listings \u2014 to help home buyers find homes. They also keep track of listings through colleagues, door-knocking, and canvassing neighborhoods to find the right properties for their buyers. They\u2019ll also work their industry connections.
\nHave you ever recommended that a buyer not buy a property? Why? An agent should work in your best interest, which means being honest with you about when to pass on a house that will not meet your needs \u2014 even if you\u2019re starry-eyed about it. It\u2019s your choice, obvs, but they should empower you to make a sound decision.
\nDo you have a list of recommended vendors who can help me get a mortgage, inspect a home, and so on? To buy a home, you\u2019re going to need other important players on your team \u2014 specifically a mortgage lender, home inspector, settlement\/title company, and attorney. An experienced agent has already developed relationships with reputable pros, and should provide you with several references for each; though it\u2019s ultimately your decision to choose who you want to work with.
\nCan you provide contact information for your three most recent buyers? Past clients can offer valuable insight into an agent\u2019s skills. Don\u2019t just ask an agent for references, or you\u2019ll get three pre-vetted clients who are guaranteed to sing their praises. Instead, ask for phone numbers and email addresses of the agent\u2019s three most recent buyers. Contact those people directly to learn about their experiences.
\nWhew, you made it through the interviews. (Are you thirsty? We could use a glass of water.)<\/p>\n
By now, there\u2019s likely one agent left standing. Someone you can trust. Someone who listens. Someone who knows more about real estate than you, but who also really cares about finding your house.<\/p>\n
Now that you\u2019ve got a partner in buying a home, it won\u2019t be long before you own it.<\/p>\n","protected":false},"excerpt":{"rendered":"
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