How to Pick a Real Estate Agent
One of the most challenging parts of buying or selling a home is picking the right real estate agent. How do you know who’s good and who isn’t? Can you rely on word of mouth? Or should you do some investigating on your own? Whether you’re a buyer or a seller, there are things you should do to check out an agent’s past performance. That way, you can gauge their potential success in finding a property to purchase. Or if you’re selling, would they be the right choice so you could make the maximum profit with the least stress. Here are some tips for picking a real estate agent.
Just like when looking for other service professionals, it’s easy to check up on the reputation of potential agents. You can do that through Zillow and Google reviews. That will tell you almost everything you need to know.
Other Ways to Tell if an Agent is a Good Fit
It helps to ask potential Realtor for homes they’ve listed and sold in the last twelve months. Also, get a list of recent references you can call. You’ll have different questions depending on whether you’re looking for a buyer’s agent or a listing agent.
If You’re Selling Your Home
When you speak with past sales clients, ask what their listing price was vs. selling price. You’ll also want to know how long their home was on the market. Although – keep in mind that sales price and the number of days on the market have a lot to do with whether it’s a buyer’s or seller’s market. Make sure the homes sold are similar in price range, location, and other features to yours.
If You’re Buying a Home
You should be looking for an agent specializing in the same type of home you’re looking to buy. If possible, find an agent that is very familiar with the specific neighborhoods you’re interested in. Ask past clients how available the Realtor was, if the negotiations went smoothly and whether there were any problems along the way.
Look Up a Real Estate Agents Credentials
Another way to check a potential real estate agent’s background is to look up their licensing. There are state licensing boards that license and discipline real estate agents in their state.
It’s wise to do a quick check on the agent you’re considering. See if they’ve had any disciplinary actions or complaints. If so, consider those red flags. You can find this information online in some states, like Missouri, Illinois, Kansas, and Texas.
Knowing how to avoid a real estate agent whose record with the state isn’t stellar is one thing. But, how do you pick one that’s a winner? That’s easy. Look to the awards.
Realtor Awards – Local & State
Peer-given awards are huge endorsements. One that speaks mountains is the “Realtor of the Year” award. The local or state branch of the National Association of Realtors awards this honor. These are agents considered to be the best by their peers. You can also check in your local area. For example, St. Louis has a Life Member award that recognizes agents who offer outstanding service in their community.
You wouldn’t select a plumber to put on a new roof. The same is true when it comes to choosing a real estate agent. You want one with the experience and credentials you need. Real estate agents, like contractors, also specialize.
Realtor Designations and Certifications
If you look at an agent’s business card or website profile, there may be quite a few acronyms after their name. Here’s what they mean:
Accredited Buyer’s Representative (4ABR)
If you see 4ABR after their name, they have completed additional coursework to represent buyers in real estate transactions. They are an Accredited Buyers’ Representative.
Seniors Real Estate Specialist (SRES)
An agent with the SRES designation is a Seniors Real Estate Specialist. Their training allows them to better help buyers and sellers aged 50 and up. For example, if a buyer was looking to purchase a home in a 55+ community – they should look for an SRES agent.
National Association of Realtors (R)
An agent with “R” behind their name is a National Association of Realtors (NAR) member. They have formally pledged to support the association’s code of ethics. Nearly 1.5 million agents are part of NAR.
In “Tips for Picking a Real Estate Agent — Part II,” we discuss additional tips for deciding on the most well-suited person to find or list your home.
Let Homestead Financial Help
Whether you’re buying or selling, give us a call. We can help you with your financing. And, if you don’t have a Realtor, we have some great agents that we work with. We can recommend a few that you can talk to and find your perfect pick.
Homestead Financial Mortgage’s low-interest home loans are some of the best in the states we serve. We service Arkansas, Colorado, Florida, Illinois, Indiana, Kansas, Missouri, Ohio, Tennessee, and Texas. Contact us today to learn more about the home loan products we offer that are right for you.