How to Pick a Real Estate Agent
One of the most challenging parts of buying or selling a home is picking a good real estate agent. How do you know who’s good and who’s not? Can you rely on word of mouth or should youdo some investigating of your own? Whether you’re a buyer or a seller, there are things you can and should do to assess a real estate agent’s past performance in order to gauge their potential success for finding or selling your home. Here are some tips for picking a real estate agent.
Because we don’t typically have the information about real estate agents that we have about other service professionals, it helps to ask potential agents for a list of what they’ve listed and sold the last twelve months. Be sure to ask the agent if any of the clients listed will be pleased or disappointed before you begin making phone calls. When you speak with past clients ask what the asking price was and then what the sales price was. You’ll also want to ask how long their home was on the market. If you are selling your home, you’ll want to ask if the properties on the list are similar in price, location and other salient features to yours. What you should be looking for is an agent who specializes in the same type of home you’re selling.
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 boards that license and discipline real estate agents in every state. To find out if the person you’re considering is licensed and if they have experienced any disciplinary actions or complaints you’ll want to check with your state’s regulatory body. In some states, like Virginia, Arizona and California, this information is accessible through online databases.
Knowing how to avoid a real estate agent who has been disciplined is one thing but, how do you pick one that’s a winner? Look to the awards. Peer-given awards are huge endorsements. One that speaks mountains is the “Realtor of the Year” designation award. This is awarded by the local or state branch of the National Association of Realtors. These are agents who have been judged to be the best by their peers.
You wouldn’t select a brain surgeon to perform your heart surgery and the same is true when it comes to selecting a real estate agent. You want one with the right credentials. Real estate agents, like doctors, also specialize. When you see alphabet soup after an agent’s name, this indicated this person has taken additional classes and are specialized in certain areas. For example, an agent with CRS (Certified Residential Specialist) behind their name is someone who has completed additional training for handling residential real estate.
If you see 4ABR after their name, this means they have completed additional coursework to represent buyers in real estate transactions. They are an Accredited Buyer’s Representative. An agent with the SRES designation is a Seniors Real Estate Specialist who has completed training that allows them to better help buyers and sellers who are aged 50 and up. An agent with “R” behind their name is a member of the National Association of Realtors. This is an individual who has formally pledged to support the association’s code of ethics. Nearly half of real estate agents out there are realtors compared to one-third five years ago.
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.