Buying or selling a home will be one of the biggest moments of your life. It’s no wonder you want to find the best real estate agent.
The right agent makes all the difference with getting what you want.
Want to learn the process of finding an agent stellar at real estate services?
Read on to understand how you’ll use a combination of factors that lead to thousands of extra dollars in your pocket (and peace of mind).
Real Estate Services: Factors of a Good Agent
Consider the 2+ million active real estate licensees in the U.S. This can pose a difficult challenge of finding the right one for your needs.
Here are five crucial factors of a good agent and their services:
Every state has different licensing requirements for real estate services. Training & education varies from state-to-state going from 20 hours to upwards of 200+.
An agent must work under a broker to be considered an active licensee. Other requirements in effect are the individual’s background, meaning a felony is an automatic ‘no’ in many states. Check to learn about licensing requirements and make sure the agent is in good standing with their state.
Who has the agent worked with?
An agent who’s been active for many years doesn’t automatically make them a professional. It’s important to check their references.
- What are their current and past listings?
- Who do they associate or affiliate with?
- What do past clients say about their services?
Also, consider references from their peers. Those that have won “Realtor of the Year” for their area are judged by other professionals meaning they’re a major player in the market. This is a good sign for you!
Buying or selling a home is dependant on timing. If a real estate agent is lagging with communication then they’re not going to be the right choice. Measure how well they communicate by testing them.
Record the timing of their responses to your questions, comments, and requests. Compare that to past experiences (from you or others) and use that as the main factor if and when you decide to sell your house.
Know what you’ll pay for the real estate services.
- Do they combine fees?
- Will they split the commission?
- What do you get that others don’t provide?
This is the moment to shop around since it’s always better to have a large sample size to choose from rather than picking the first or second to come through.
Real estate agents develop specialties depending on their area and focus. Go with the agent that’s not enamored by a specific area but avoid a realtor who seems ignorant of the community.
Still not sure? Bring up the important questions and shop around (5-10 realtors) while recording their responses. This will give you a median set of data and understanding of the options in your area.
Why It Matters
The book Freakonomics has a wonderful insight about these services and how hard agents are willing to fight for the best deals.
Basically, there’s a “sweet spot” in the closing where the effort (extra weeks or months) in buying or selling isn’t always worth the time & resources compared to the commission.
The authors suggested this:
“Measure the difference between the sales data for houses that belong to real-estate agents themselves and the houses they sold on behalf of clients.”
The data from this exercise will reveal those agents willing to put in the extra effort. This could lead to earning thousands of more dollars. All the more reasons to consider the deciding factors of agents and the real estate services.
What are your suggestions on finding the best agent?