Choosing a Real Estate Broker
Tips to Consider
First you want to consider the individual real estate broker and not the agency they work for. There are a number of agencies ranging from small to large, but the important part is to get the individual that meets your needs and works for you.Next you should know specifically what representation you need. Are you buying or selling. There are many agents who only represent the interests of one side of the market. So if you want to buy a home you probably won't have the best service from a selling agent. Rather find an agent that will represent your specific interests. It is a good idea to avoid a real estate broker that specializes in both buying and selling since they would have a difficult time equally representing both aspects of the market.
Always consider the experience of a real estate broker. There is a high turnover rate in the real estate profession which means many agencies can have a lot of untested agents. So before you work with any real estate broker you should ask them how long they have been practicing. Don't work with any real estate broker that has been working less than two years.
Check for commitment from your real estate broker. Some agents are only practicing part time and may not be able to give you the attention you deserve when buying or selling a home. Sometimes agents will also have limits, such as only representing properties in a certain price range. So make sure you are choosing the right agent so you get their full attention and commitment.
Interviewing the real estate broker is as important as inspecting the house you are considering. You should interview with at least three prospective brokers so you can get a good feel for your best choice. Ask them how well they know their neighborhood and how often they will communicate with you. Be sure to get references and check several of them. Also be sure to evaluate the personality of the agents. If you can't work well with your real estate broker then you should consider another broker. A good place to start is with friends who have had good experiences with real estate agents.
Be sure you choose a real estate broker that will be able to work with your schedule. If you can only view homes on the evenings and weekends then you need to make this clear to the broker. You don't want to end up choosing a broker who can only work days. Nothing productive would ever get done and you would only end up frustrated.
When considering a real estate broker be sure to ask them what they will do to sell your home. Not all agents will sell a home in the same way. Some advertise, some spread through word of mouth. Some just place your home in the listings and wait for someone to call. Make sure you choose a real estate broker that will be very proactive if you want to sell your home quick for a good price.
If you are new to the housing market then it would be a good idea to choose a real estate broker who also has the ability to help you with other services. This can include a home inspection, referring you to highly qualified lending professionals and to find real estate attorneys if needed.
Be sure to talk with your real estate broker about mortgages. By explaining your needs and talking with the broker they can likely tell you about special loan programs, creative financing or other unique financial details that you don't know about. Always keep in mind to ask about insurance and taxes.
As with other purchases and services you should never hire a real estate broker based on an open house, looking up a listing in the Yellow Pages or discovering them through the internet. Rather you should choose your real estate broker only after you have carefully checked their credentials, experience and practice.
