Big real estate firms put big-time money into marketing which is why when people need a real estate agent most of them go right for the big names that they see on billboards and in TV commercials. There are some problems, however, with using the larger firms that have been brought to my attention enough times to finally write about it.
When brokerages put a ton of money into marketing then they end up getting a massive amount of leads from it. The problem with that is that some brokerages are just not equipped to handle all those new buyers and sellers they just spent a ton of money marketing to. When this happens real estate agents tend to put most of their effort into the deals that are going to make them the most money,… that’s just human nature. Unfortunately, for buyers with lower incomes and sellers with cheaper houses, this can potentially turn into a very bad experience for them.
Real estate agents get paid on commission which means the lower the purchase or sale price, the lower their commission will be. So when the leads get assigned or referred to the agents in the office the buyers with the most money to spend or the seller with the most expensive house to sell will get most of the attention. The rest of the potential buyers or sellers end up getting put to the bottom of the stack. The “when I get around to it” file.
Buying your first home is one of the most important decisions of your life and should be a very happy and exciting experience. The problem is that many people lack the knowledge needed to find the right real estate agent for them.
Is it time to fire your Realtor? Here are some tips that will help you find the best real estate agent for you
1- Google them! – A good agent will have a strong online presence and you should be able to pull up a world of information on them. Take some extra time and read reviews that people have written about them. If they have negative reviews or none at all, then it’s time to move on to your next candidate. From your online search, you should be able to come up with at least 3 good candidates.
2- Set up an in-person interview. – Once you’ve chosen you three candidates now it’s time to meet them in person. They should ask you questions like “are you pre-approved for a loan and how much?” What kind of house are you looking for? How much do you want to spend? What neighborhood?, etc.
Then pay close attention to what the agent shows you. Is it what you’re looking for? Was the agent paying attention to what you said? If the agent starts showing you properties that are far from what you asked to see then…..”NEXT”
3- What’s their track record? – Don’t be afraid to ask questions like.
*How many houses have they sold?
*How many have they sold in the last 6 months
*What do they specialize in? Are they a short-sale specialist? A buyer’s agent?, etc. It’s important that your agent specializes in whatever it is that you’re trying to accomplish. You wouldn’t go see a foot Doctor for a toothache, would you?
*Do they have any testimonials from past clients?
4- Make sure that real estate is their full-time job. A good real estate agent works full time as a real estate agent and there’s just no exception to this rule. If you’re working with a realtor that works part-time as anything else in order to make ends meet then it’s time to cut them loose.
5-Follow Your Instincts. You may have found the most successful real estate agent in town, but if you don’t feel comfortable around them or you just have that feeling in your gut telling you that they aren’t the one for you, then go with it. An agent/client relationship is kinda like a marriage…you’re in it for the long haul. On the bright side, it’s a lot easier to divorce your real estate agent.
So you see, it’s not at all about going for the biggest name with the biggest marketing budget. It’s about you putting in the time and doing the necessary research that it takes to find the right real estate agent for you. Good luck!
