Improve Your Chances of Selecting a Good Real Estate Agent
/Your goal is to form an alliance with a licensed qualified real estate agent that communicates well and works to represent you in the purchase or sale of real estate. They are not attorneys, but should look out for your interest by explaining, assisting, and guiding you thru the process. Their representation works best as a teamwork event whereas the customer provides as much information to the agent and they in turn advise the process and information to get you to a closing. These principles are true, whether you are in Panama City Beach Florida where we are or another city in other state.
It is important to know that all States, including Florida where we are, require an agent to be licensed by that state to work as a Real Estate Agent or Broker. A licensee’s information can then be confirmed by research into each state’s online licensing portal. Agents most often join a professional association and become REALTORS®, which establishes higher ethics standards, training and access to listing services. Every licensed agent is not a REALTOR®. Realtors belong to both local, State and National Realtor Associations who’s goal is professionalism and enhanced training.
In contrast to the flood of advertising, there is no better judge of performance, than the word of a friend who has been thru the real estate process. Although every transaction has obstacles, the MOST important concern is trust and the agent’s relationship and communications with the customer during the process.
Before venturing into a contract to sell your property or asking any agent to find you that perfect home, here are a few tips on interviewing for an agent:
Ask people you trust, if they had an experience selling or buying a home and how well did the agent work for them.
Many people look at the biggest ads for franchised Real Estate companies, but don’t rule out smaller companies that often offer better, individual service. Often a non-franchise company can provide custom tailored service to you as a customer that a huge company will not. Recent surveys show that only 2% of customers pick an agent because of the Brand. Also, sometimes the oldest and most senior agent is not the most motivated. Trust your gut feeling.
Nothing is better than a face to face meeting with your potential agent to find out if it “feels right”. Although not always possible, try to feel out the sincerity before moving forward. Trust and honesty are the building blocks of a great customer-agent relationship. If it doesn’t feel right, tell the agent you intend to interview others before deciding.
Ask a potential agent if they are a Realtor and do they work full time. You want an agent that focuses on your needs, is committed to service and has experience to back it up. Ask if they have either references or testimonials from previous customers.
Ask the agent what services they provide and what are the associated costs. As a buyer you normally should not pay anything for representation, however some brokerages require a Broker Buyer Agreement before they show properties (to protect them). As a Seller, you will be required to sign a listing agreement defining the terms. Sellers Listing Agreements will be covered in a future article.
If you are a buyer, ask how they will communicate with you and how they will set up searches that meet your criteria and not only direct you to just their listings. As a seller, ask the agent how they will market your property and what websites or other resources they will use.
Any agent should ask “what are YOUR goals and time frames for moving forward”. This tells them the urgency to locate or market your property as well as direct you in preparing to move or getting you prequalified to buy.
Lastly, whether you are a buyer or seller, ask the agent to give you a step by step process from beginning to end.
We as agents explain to buyers the process of prequalifying the buyer with a lender if financing is needed, we make a list of the buyers desired criteria, search available properties, identify and schedule showing of properties, eliminate undesirable listings, research necessary issues including home owner associations, fees, flood zones, seller disclosures and values based on recent sales. We generate a contract and negotiate to the buyer’s satisfaction. Once the parties agree and the contract is effective it is presented to the title company and all inspections and surveys are obtained. When all issues are resolved and lending is approved, the property is scheduled for closing and the buyer takes possession. For sellers, we develop a comparative market analysis to determine a home’s value. A listing agreement is written between the brokerage and the sellers. The sellers complete any disclosures necessary and the listing agent places the listing into a multiple list service which markets the property and distributes to other advertising. The agent coaches the seller on home preparation for showing and establishes a showing protocol for prospective buyers. Once an offer is received, the agent presents it to the sellers in a timely manner and facilitates a response for the seller. Once a contract is accepted it is transferred to the title agency and processed for closing.
As real estate professionals, we have been affiliated with both major franchises as well as an independent brokerage. Our commitment to quality service is unwavering. Experience has shown us and our testimonials attest, that customer service is not defined by the size of the brokerage or amount of advertising seen. It is defined by customers that return time and time again because we care.
Thank you for letting us share.