The Consumer’s
Guide to Hiring an Amazing Real Estate Agent
When you’re buying or selling a home, it’s
crucial to work with a qualified real estate agent. Not just a professional,
but an amazing agent and a market expert. So
how do you ensure you’re hiring an amazing real estate agent?
There are currently more than two million real
estate professionals in North America.1,2 With so many options to choose from, how
does a prospective home buyer or seller choose the right agent or broker? According
to the National Association of Realtors®, trust and reputation are the top
deciding factors consumers use when hiring an agent.3
But how do you measure trust and reputation ...
and what criteria can be used to help you make your decision?
In this guide, we've outlined the top attributes
that amazing agents possess, as well as the questions you can ask to make sure
you’re working with the right market expert to achieve your real estate goals.
5
ATTRIBUTES OF AN AMAZING AGENT
As we mentioned above, not all real estate
professionals are the same. And it’s easy to be overwhelmed by the options and
information about working with real estate professionals to buy or sell your
home. In fact, many real estate markets are oversaturated with agents.
To help you understand what makes top agents and
market experts stand apart from the competition, following are five key
attributes of an amazing agent:
1. A
Pricing Specialist
If an agent has their real estate license, they
know the basics of the transaction process. They know what goes into buying and
selling a home. However, there’s a difference between knowing the process and
navigating it for an ideal result. This ideal result often means buying or
selling a home for the best price.
For buyers, amazing agents have a strong
understanding of market trends, competition, and how to make your offer
attractive to sellers. They can help you identify and secure a deal to ensure
you get the home you want, within your desired budget.
If you’re selling a home, market experts have
experience pricing homes optimally for the market, and creating pricing plans
to minimize the time spent selling the home. This will help you sell for your
desired price, and avoid costs like additional mortgage and utility payments.
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Takeaway: Whether buying or selling a home, pricing can be tricky. Market
experts can help navigate best-possible pricing strategies, and also secure
the home you want within your budget.
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2. An
Effective Time Manager
It’s common to underestimate the amount of time
it takes to buy or sell your home. The average real estate agent may not be
utilizing the latest tools and technology to make the transaction easier and
more cost effective for their clients. Market experts have tools and strategies
at their disposal to minimize the amount of time you spend on the process.
For sellers, market experts can make sure you
only deal with qualified buyers, not the “window shoppers” who can waste your
time. We also utilize the latest marketing practices to advertise and price
your home effectively, ensuring it gets sold quickly.
When looking to buy a home, inexperienced agents
may waste your time by showing you homes that are not a good fit for you. A
market expert knows how to prioritize your needs and wants to find you the
ideal home within your budget. They also know how to spot “red flags” and can
steer you away from homes that are likely to turn up major issues in a real
estate inspection, saving you time and money.
In addition, well-networked Realtors can gain
access to the hottest listings before many websites do. Their extensive
professional networks can help identify “pre-list” homes before they’re
officially on the market. This can be invaluable in a highly-competitive real
estate market.
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Takeaway: Even a well-intentioned agent may not have the skills, tools or
technology to make the experience easy for you. There are lots of hidden
activities that may take up unexpected time, and a market expert will save
you time and energy.
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3. A
Market Insider
While most agents can pull market stats about a
neighborhood, community or city, they may not understand important trends or
developments that would affect your transaction. These can include the state of
the school district, issues with a homeowner association, new businesses in the
area, zoning rules or trends in home prices.
Market experts live and breathe local real estate
and know the trigger points for buying and selling in this market. We also stay
current on effective marketing and negotiation practices, resulting in our
track record of success.
For sellers, we understand what features of your
home and neighborhood are assets in the selling process. And for buyers, we
share a deep understanding of market factors, including school and neighborhood
quality, crime statistics, speed of sales and more.
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Takeaway: Getting relevant and specific market knowledge can be difficult and
time consuming, which is why many real estate agents don’t have it. Whether
you’re buying or selling a home, an experienced real estate agent is often
the best source of information about a city, neighborhood, or even street …
we’re literally conducting market research every day.
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4. A
Strong Negotiator
Amazing agents truly set themselves apart in
their ability to negotiate. Unfortunately, a large portion of agents don’t
commit their full time to increasing this key skill.
Real estate negotiations can be challenging, even
for seasoned professionals. It takes skill, experience and a knowledge of how
to fight for your client’s best interests. While any agent can enter
negotiations to buy or sell a home, they may not know the effective strategies
to exit those negotiations with the result you want.
Experienced Realtors focus on negotiation as a
key skill. We understand what to do before entering negotiations (establishing
the upper hand to set up the best outcome), as well as during the process (when
to offer or accept concessions).
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Takeaway: Many agents can feel the stress of the negotiation process, and may
agree to terms of the buyer/seller. Working with a market expert will help
ensure you get the best deal, not just the fastest deal.
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5. An
Effective Closer
Closing a deal fast is often a good thing. For
buyers, it means you found the home you wanted quickly. For sellers, it often
means you can avoid the added expenses of mortgage and utility payments, and
maximize the value of your home sale.
However, an agent solely focused on speed can
make decisions that aren’t in your best interests. Top real estate
professionals know how to not only achieve your real estate goals quickly, but
in the right way to avoid potential pitfalls.
Just like negotiations, the paperwork and process
of closing a real estate transaction are complicated. And they can be
overwhelming for the average agent who hasn’t handled a lot of transactions.
Sales contracts, property disclosures, occupancy agreements and even lead paint
records need to be executed with precision. Your agent not only needs to be
familiar with these, but also stay current on any changes in requirements or
regulations.
Market experts have a strong understanding of
real estate contracts, timelines, clauses and contingencies within the closing
process. In fact, avoiding pitfalls during the closing process is where many
sellers find an experienced Realtor is a huge asset.
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Takeaway: Many agents don’t have a firm understanding of contracts. Because a
real estate transaction often involves a significant investment, even a small
mistake can mean serious trouble. With that in mind, it’s often best, and
most responsible, to work with a true market expert.
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5
QUESTIONS TO ASK YOUR REAL ESTATE AGENT
So how do you know if you’re working with an
amazing agent?
The first step would be to “shop around.” Many
people work with the first agent they come across without a firm understanding
of their level of experience. It’s always a good idea to interview a number of
agents before selecting one. If you’ve gotten referrals from people you trust,
then you may only need to interview 2-3 agents.
However, it can be tough to know what to ask in
the interview process. Here are some questions that can help you qualify the
best agent to help you achieve your real estate goals:
1. Can you send
me some information about yourself?
Look for professionalism and consistency. What
are their professional accomplishments? Also, try to identify how they approach
their work. Look for a business person who has a strategy and solid support
system. If they’re a newer agent, ask about their team’s dynamic and
accomplishments.
2. How long
have you been in real estate?
The average Realtor has 10 years of experience4.
But while longevity is important, even more telling are the number of
transactions they have closed or been involved in. So feel free to also ask:
“How many homes have you sold in this area?”
3. What will
you do to keep me informed?
Do you want daily or weekly reports from your
agent? Will the agent be able to meet these expectations? Determine how much
communication you want, and then find an agent who will give you the attention
and time you want and deserve.
4. Can you
provide me with further resources I may need?
From market reports and pricing trends to school
performance and crime statistics, top agents have resources at their disposal.
In addition, market experts have built strong relationships with their extended
team of professionals, and can often get expedient service or be able to “cash
in a favor” for you should a need arise.
5. Seller only:
Can you share with me your plan to market my property? Many agents will simply put
your home in the MLS and wait for it to sell. An amazing agent should have a
detailed plan of how to get your home exposure on social media, to their local
networks, and more.
GET
STARTED
Now that you’re armed with the 5 Attributes of Amazing Agents and the Top Questions to ensure you work with
the best possible real estate agent, you’re ready to start interviewing agents.
We’d love an opportunity to win your business.
Schedule a free consultation with us to find out how true market experts can
help you achieve your real estate goals!
Sources:
1. National Association of
REALTORS – https://www.nar.realtor/field-guides/field-guide-to-quick-real-estate-statistics
2. Financial Post – http://business.financialpost.com/personal-finance/mortgages-real-estate/canada-housing-bubble-agents/wcm/b49d4e3a-bd8d-4d1c-9566-bd3d80c8e23a
3. National Association of
REALTORS –
4. National Association of
REALTORS – https://www.nar.realtor/field-guides/field-guide-to-quick-real-estate-statistics
