Choosing A Realtor

Someone much wiser than I once told me that more people than not end up hating their real estate agents. At the time, I didn’t believe that. I can see now, however, that it could very well be true.

My only personal experience with realtors has been from the position of Seller. The view from the other side could be different. I also realize that my experiences may not reflect those of many others. Not all realtors are the same, but most tend to follow a learned course of action. Also, all real estate transactions in a given state must follow established regulations, proceedures, policies and protocols. So similarities will exist between my experiences and those of others, although the circumstances may vary.

Selecting the right real estate agent is critical. This agent will represent you in one of the most monumental decisions of your life. It’s a hugely stressful situation to be selling the home you grew up in, as in my case. It’s almost impossible to put any sort of monetary value on such a home. Yet, that’s exactly what you have to do, and the agent you select must understand that you will likely be offended when he or she tells you what your house is worth in dollars and cents.

So, when choosing a realtor, you want someone sensitive to what you’re about to go through. You do have a right to be choosy, and you should be. You’re about to face what could be a long, difficult road, depending on market conditions, which could change at any moment.

Because it is, or can be, a volatile market, you should choose a realtor with considerable years of experience. Such a realtor will have worked under both seller’s and buyer’s market conditions. He or she will be most qualified to market your home under the market conditions that exist at the time. He or she will also be able to advise you properly, and take the appropriate actions, should the market take a swing while you’re trying to sell it.

An agent who has only been working a few years, or only occasionally and selectively, will likely flounder when faced with situations not encountered before. That’s what happened in my case. When we first put my home on the market, in July of 2007, market conditions were still more in my favor. It’s changed considerably since then, as you may know.

The key in choosing a realtor is actually very simple. It should involve just three things: 1. Interview; 2. Interview; 3. Interview. Then, interview some more. Ask questions about his or her background and experience. Ask how long he or she has been with the agency, and what other agencies he or she has been with. Take down names, and do a little research on your own. If the agent seems to be an agency-hopper, there is likely a reason, and it might not be “upward mobility.”

On the subject of agencies, elect to interview agents with well-known, established companies. Smaller, or individually-owned agencies are less likely to have the reach and resources you might need. An example might be an in-house attorney, or law firm, on permanent retainer to handle legal issues that may arise. Independent agents, like the lady next door who sold Joe’s house up the street last year, might best be avoided, unless you’ve known that person for a long time.

That brings up another point worth consideration, however. The opening sentence in this article should be a clue to this. Avoid choosing friends or relatives as your realtor. As much as you may want to “keep it in the family,” so to speak, when push comes to shove, and it inevitably will, you do not want the personal relationships clouding your judgement, or interfering with harsh decisions you might have to make.

Look for someone who is aggressive, but professional, and not offensive or overbearing. If you find the person you’re interviewing seems to be making your decisions for you, making you uncomfortable saying “no,” then it might be best to thank them for their time, and send them on their way. Be wary of braggarts and big talkers. Keep all business cards and presentation packages, though. You can always talk to them again.

The bottom line is this: You are hiring a professional real estate agent. You are not looking to form a friendship, or a romantic relationship. You will be paying a lot of money for services and representation of your interests. You’re not buying a can of soup or a used car. You are putting your, and your family’s, financial future on the line. It’s a big decision and one that should not be entered into lightly.

This entry was posted on Saturday, May 10th, 2008 at 6:11 pm and is filed under Main Content. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.