Adventures in First-Time Homebuying #6: The Hunt for a Real Estate Agent, Part 2
Author: Nick
Category: Money
Topics: real estate
Now that you know what a real estate agent is, why you need one, and how they get paid, it’s time to find one! But not just any old real estate agent will do for you. Oh no; you want somebody who’s going to work for you, help you find the home of your dreams, and get you into that house for as little cash as possible.
So here, in order of preference from highest to lowest, is a list of methods you can use to help you locate the real estate agent that’s right for you.
- Ask someone you know. If you know anyone who has recently bought a house, ask them who their agent was and how their purchasing experience went. Make note of agents who your friends or family may say are “good,” but hold out for one that somebody absolutely raves about. And if you’re asking a friend, make sure they’re not related to the agent since anybody will recommend their real estate agent brother no matter how terrible an agent he is.
- Ask your lender. You may not know your lender very well, but it beats asking a stranger for a recommendation. Lucky for you, there are some laws in place to prevent lenders from profiting on referrals to real estate agents, and lenders generally won’t send you to someone who’s not good at what they do. After all, your lender only gets paid once you find and buy a property.
- Walk into a real estate brokerage. Take a trip to your local RE/MAX, Century 21, or other brokerage and you’ll be paired with an agent who will help you locate your new home. Of course, unless you find one of their agents on your own, you’re at the mercy of the brokerage. Hopefully they’ll give you somebody who isn’t right out of real estate school.
- Use the internet. You’ll have no trouble finding plenty of eager agents online, but most agent listing sites won’t carry a big flashing “I’m a Lousy Realtor!” logo next to the crummy ones. If you decide to take your e-chances, I recommend looking through the real estate agent reviews at Homethinking to help you make your decision.
- Pick up a phone book. Start with AAA Real Estate and make your way to Zazzy Realtors. Phone book listings can’t tell you much, but they can give you a decent pool of agents from which to start your search.
You may have noticed that this list is similar to the one we saw earlier for finding a mortgage lender. That’s not by accident. Both your lender and real estate agent are members of the holy trinity of homebuying (with your settlement agent being the third), and finding the best ones are both vital to your happiness and the happiness of your wallet.
In Part 3, we’ll go over some questions you’ll want to ask your prospective real estate agent and what you can expect next once you select an agent.
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22 Responses
1.
Larry Nusbaum
September 20th, 2006 at 9:22 am
Funny, I am about to write a post on how to sell your home and get top dollar, to include how to find a realtor. Trust me, this is a very difficult task. So, in no particular order:
1. Don’t hire a luxury home specialist if you don’t have a luxury home.
2. When interviewing 3-4 realtors, don’t take the one who over prices your house in an effort to “buy your listing”.
3. Discuss a pricing strategy with each prospective agent.
4. Ask each agent their view on the local market (only) so you can eliminate ones that are too optimistic or too pessimistic.
5. Know your market.
6. Do not allow an agent who represents both sides (buyer & seller) known as “Dual Agency”
7. Be ready for your first open house: broker time, signs, ads, staging, cleaning, right price, marketing, broker tours, office tours.
8. Call your prospective agent at home, office and cell phone several times as a test if they are easy to find. Don’t hire an agent who doesn’t answer their cell: Time is of the Essence.
2.
Justin - Focus On Castle Rock
April 7th, 2008 at 5:46 pm
I have another suggestion for the list, although it’s more of a recommendation. I would look at activerain or localism as well to try to find an agent. Blogging has become a big thing for most real estate agents, and one of the best ways to find out about the market in your area is to find a local real estate blogger, and activerain is a great place to start looking. You’ll find transparency, and openess, and you just might find an agent you like based upon their writing personality. Just a thought…
3.
Andrew - Apartment Man
July 26th, 2008 at 10:52 pm
My personal favorite is walking into several brokerages and interviewing prospective agents. Another method is to drive around the area you want to buy a home in. Sometimes you will notice some realtors have many homes listed under their company. You figure they must be doing something right since they have earned several listings from different homeowners. You at least may have some time to interview them and see if they can assist you.
4.
Marketing Ideas
July 28th, 2008 at 3:59 am
I personally put a lot of stock in an agent’s website, not so much what it looks like, but whether it is functional and easy to use, and whether the information is current. This helps me judge how much effort they put into their business and customer relations, and what I can expect from them in terms of attention to detail and level of service. There are a lot of agents out there whose websites completely turn me off.
5.
robert
September 25th, 2008 at 12:53 pm
How about this one. Drive around in the neighborhood you are interested in. See if one real estate agent’s name appears more than any others on the signs in the front yards. This may give you a head start to see who knows what.
6.
David Hood
April 23rd, 2010 at 3:33 pm
I like the idea of using activerain or localism to try to find an agent to interview. Once you find a few take the time to interview them, find out how well they know the market area you are looking to buy or sell in. Ask for some references of clients they have worked with, find out what they specialize in, there are many aspects to real estate.
7.
property wi
May 11th, 2010 at 4:08 am
Updating website with fresh content regularly is essential these days at least from SEO point of view.
8.
Hamilton Builders
August 5th, 2010 at 3:24 pm
Asking for recommendation from close friends and relatives that you know recently purchased a house would be great help. It is also a nice idea to create a list real estate agents that you might want to hire and choose which is the best for you.
Great post.
9.
builders surrey
August 20th, 2010 at 10:31 am
You are very right to be wary of estate agents, i would definitely ask freinds and family and find out if there are any regulatory bodies that can recommend somebody.
10.
وسائط
December 10th, 2010 at 4:43 am
It is really remarkable article, thank you very
11.
Stephen
December 22nd, 2010 at 7:06 pm
Asking people and gaining their insight and experiences with agents has to be the best way to find an agent you will like. Local online directories are now starting to give consumers the chance to tell people about their experiences with customer service in places. I’m assuming that this will also apply to services such as real estate agents.
12.
Virtual Server
July 6th, 2011 at 11:04 am
I hate agents I would rather look myself and work with an attorney
13.
Palmdale real estate agent
August 17th, 2011 at 8:57 pm
If a potential buyer walks up to me while I’m showing houses, I will help them as much as I can, but I also can’t hold my current clients up too long. On the other hand, buyers who walk into the office make everything easier because I can give them 100% of my attention and get them started right away.
Oh, and yes the office staff will sometimes give a new agent a walk in client. In my experience, every dedicated and reliable agent has a chance to work with someone sooner or later whether they are seasoned, or a bit green still.
14.
Property Marbella
August 22nd, 2011 at 1:38 pm
In Part 3, we’ll go over some questions you’ll want to ask your prospective real estate agent and what you can expect next once you select an agent. Property Marbella
15.
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22.
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