Considerations when Choosing a Real Estate Agent
Buying real estate is buying a bundle of rights that happens to be associated with a piece of land with may have a structure on the land. The process of buying has three essential parts:
1. A Relationship with you or possibly a partner and those that help “work the deal”. This relationship is nurtured through getting to know one another and eventually getting to know yourself that much more.
2. A Place – in time, over time and evaluated for your time of ownership.
3. Exchange – taking the essence of the relationships to make the best choice of a place while maximizing your resources.
Understanding these three parts while choosing the right professional for the job is much more complicated than simply “opening a door” or “just let me sign quick!” Evaluate, consider and then choose.
Consider these questions as you move forward:
- Was agent prompt to appointments?
- Do you feel that the agent listened to your needs?
- Are you confident that the agent possessed the specialty knowledge for which they said they had?
- Does the agent know their market area?
- Does the agent have additional certifications and licenses beyond the minimum legal requirements to be a Realtor®?
- Rate the agent’s negotiating skills on your behalf.
- Did the agent explain the differences between price, terms and conditions?
- How much time did you spend with the agent outside of house/property showings?
- What was your lasting impression?
- Would you recommend this agent?
Your relationship with a licensed real estate professional is based on trust and transparency in how you want your money to work for you.
It is really important that you know something about the person you are trusting to give you advice on making a purchase. If you do not have a relationship of some real kind you will never be able to take advice on a real level. This is the level upon which your mind is free, open and receptive not deceptive.
When a realtor becomes your trusted advisor the two of you form an unbreakable bond. This bond consists mostly of being able to read each other's gut feelings about a place or a situation within the place before even communicating a verbal or written word. Really any and all people you are working with you should have this connection.
Once you develop this connection your mind will automatically gather the information that becomes your personal basis for making the best possible decision on anything, and in this case it is buying or leasing a space for a period of time that will become part of your limited life on this earth.
With this said, that relationship with a real estate agent needs to be based on trust. That trust needs a solid basis where the agent representing you understands your needs and desires.
Generally most buyers will research the internet to find a house. Most sites will have a house listing and then a random list of people with real estate licenses will show up in the same page.
Unfortunately for you there is no differentiation from one of those head shots from random real estate sites to another. When you call the number, instead of talking to the listing agent you may find yourself talking to an agent that paid to have his or her mugshot there in cyberspace. They may know nothing about the place…the house, the neighborhood, zip code and sometimes what planet we are on.
The question for you is, “Do you trust to have someone you don't know advise you on how to use your money?” This is what most buyers do and the primary reason most buyers experience pain and suffering, unnecessary drama and banter in the buying process.
To establish a firm foundation of trust, the agent must understand your final feelings and what is best for you at this specific time of your life.
Where does your investment fit in this time of your life?
a) What is your exit plan?
b) How long do you or others realistically expect to be living or owning the property being considered?
c) Will this be a significant lifestyle change or just a location change?
d) What is the impact on you and yours and have you anticipated the change?