Choosing the Right Real Estate Agent
Pick up a rock, throw it, and most likely you will hit a Real Estate agent because they are everywhere. In fact there are an estimated 3 million licensed real estate agents in the U.S., but out of that number it is estimated that 71%-74% didn’t close a single deal last year. You also have a high turn over ratio in the real estate industry, with 75% to 87% failing within the first fiveyears. So with those crazy numbers to think about, how do you choose one that knows what they are doing, will help you be successful in your search to purchase a property, or will do a great job in selling your property? Plus with those statistics, will that agent be around next year to help you if a question or concern comes up?
With everything in mind there are some ways to find a great agent, and some questions to ask when interviewing agents to make sure you find one that has experience, the knowledge needed to make sure the deal follows all laws, and will make sure your search or sale is as successful as it can be. The first suggestion is to interview 3 different agents to ask them about their experience, negotiating strategies along with some hiccups/wins they have had, and find out their communication style. A key thing to find out is if they are a full time agent, or is this a side gig where they will help you when off of their regular job. A full time agent should be more responsive, be able to help when needed, and be more up to date with the market. A suggestion I have is to text the agent a couple of different times and see how quickly they respond, because if an agent doesn’t respond to you in a timely manner they might not get back to agents who want to show your home..
How do you find those 3 agents to interview? Ask friends and family who they have used, not just who their 2nd cousin from their step dad’s side of the family who is a realtor and maybe did a good job bringing a good tasting turkey to Thanksgiving. You want actual first hand experience working with the agent, and ask why would they recommend that person/what did they do good for them? Once you have gathered some names look them up on google to see articles or information about them, check out their social media to see if they truly do business or just share things that won’t mesh with you, and if listing a home look to see how many shares their listing posts get as you don’t want to only rely on the MLS to find your buyer. There are a lot of groups on facebook for an agent to share your home to, and if you find an agent who doesn’t share their listings at all then run as they are most likely lazy and are not willing to put in the extra effort to sell your home.
The same goes for the brokerage they work for, as not all brokerages are the same. They might brag about being at the biggest brokerage in town, but we are past the days of who has the back page of the newspaper on Sunday so the open houses and new listings can be found. See if the brokerages website has a search feature, how good is that website to navigate, and does the website have their listings on it to help potential buyers find your home? Once again check their social media to see if they are sharing their agents listings, as many brokerages don’t take the time to promote their agents' business, which means your listing isn’t getting promoted.
Lastly, go with your instincts as this is a relationship you are entering into, and you need to be able to work with the agent through what can be a very stressful process. A home is one of your biggest assets, so don’t just sign to work with your friend's kid because they need money and recently got out of school. Interview, research, and go with your gut to have a very successful transaction on your next Real Estate Journey!
Theron Ahlman
Realtor, Certified Senior Advisor, & Co-Owner of Avid Realty
