If you're looking for an agent to list your home,
be wary of anyone who suggests he or she 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 the agent's 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 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.