Temecula's Real Estate Blog

How To Hire a Real Estate Agent – Tips and Track Record

Always review the track record of an agent before signing a contract with them

HOW DO I CHOOSE AN AGENT?
So you have made the smart decision to hire the best agent you can get, but .. where do you start? Ask, ask, ask —  Consult neighbors, friends and coworkers. Ask how long it took to sell their homes, as well as how reliable and responsive the agent was. Would they use the same agent again?

Track Record
Ask the agent for proof of what they have done in the past; actual statistics from the Real Estate Board, addresses, etc. Don’t just believe the hype on a printed advertisement. Surprisingly enough, there is little or no penalty for false advertisement among real estate agents. Haven’t you noticed just how many agents claim to be #1? Ask them to prove it!!

Listing Presentations
Compare sales history, marketing, pricing strategies, and your net proceeds after the sale (don’t ever sign a contract without knowing the approximate net, in writing). After the show is over, follow your instincts, as they are usually right on. If you can’t really trust that this person can represent your interests to your expectations—then pass!!! Remember that this will be a close relationship, and if the agent bugs you, it is only likely to get worse

Don’t look for:

• Agency size: The number of agents working within the company of your agent generally has little or nothing to do with the quality of the efforts of your agent. A part time agent in the company of 150 other agents will not increase your chances of selling.
• Highest bidder: Don’t automatically go with the agent who gives you the highest price. Numbers don’t mean much if your home is overpriced and nobody buys it. Be cautious of the agent who asks you where you want to price the property. That’s a lot like telling your mechanic how fix your car. If your agent doesn’t have enough experience to price the property correctly….think twice.
• Lowest Commission: Even though there is no legal standard for commission, you should be curious why someone would charge a fee 20-30% below the average. If you think about it…if a cheaper commission would guarantee a higher net to the seller, how would it be possible for the most effective agents, like myself, to have so many satisfied clients?

WHY SHOULD YOU HIRE A PRO?
Selling your home is always a stressful time, whether you are relocating for your job, moving the family to the next big house, or you just lost your nest egg in the market. Working with a great agent is probably the absolute best thing you can do to make the whole proposition easier.

Naturally, you want to put as much in your pocket as possible, and selling on your own (FSBO) might sound pretty appealing. And selling that way can be successful, providing you have lots of free time, a unshakable commitment, and a thorough understanding of financial and legal issues, and contracts and your local real estate market. At first glance, hiring the best agent, like the best attorney, can seem costly. But a great agent is always worth the fee—saving you from the common pitfalls that could cost you more, or even cause litigation.

Some Good Reasons To Hire A Pro

• Get advice on inspections, repairs and presentation before selling.
• Because of local market knowledge, a great agent can get the highest realistic price for the property, saving the owner time and money.
• * Most buyers, particularly first time buyers, are reluctant to work with amateur sellers.
• * Great agents are always up to date with financial and legal issues, essential information for smooth escrows.
• Agents are available to show and sell the property during the week, so you don’t risk losing the sale because you have a day job.
• Agents pay for costly advertising and promotion.
• Great agents can handle offers and negotiations-situations that allow buyers and sellers to allow emotion into the negotiation and potentially lose the sale.

Agents can screen potential buyers for their qualifications and advise them on the right financing to guide a successful closing.

In most cases, you already know that the best thing to do is have the best representation that you can. And really…when you have just made a 50% profit, is 6% really too much to spend to guarantee the windfall?