What qualities and skills should you look for in a real estate agent? This question is an excellent one to think about before committing to a real estate agent. Far too often, clients find out that their realtor is not quite suited for their deal when it is too late.
Failing to ask the right questions of your real estate agent can mean delays in deal closings and even in the loss of earnest money and appraisal fees. Don’t let your failure to do your due diligence cost you; use the following guide to find the right real estate agent for you.
Knowledgeable About the Market
Find out how familiar a real estate agent is about your particular area early in the process. Some agents are willing to do deals in any area they cover, yet do not have in-depth knowledge about the area they may find themselves in.
You want to find an agent that has specific knowledge about your particular area of interest. They will understand the local market trends and history in a way that will be extremely valuable to you.
Experience
Everyone has to start somewhere, but you do not want to place your deal in the hands of a rookie. Find out how long your prospective agent has been working as a real estate agent. While the length of time they have been working in the industry does not necessarily equate to success, having little to no experience does not make them a safe option.
Number of Current Clients
While you want to find someone with experience, you also want to find an agent that has enough time to tend to your needs. It is common for experienced agents to take on too many clients at one time; this results in being overbooked.
You do not want a real estate agent with too many time conflicts. If your agent is really good, yet overbooked, find out if they have a strong supporting team or assistants to help carry the weight.
Willing to Assess Property Values Promptly
When you are selling a property, you want to pose the question, “What is my home worth?” When you want to know the market value of your home, your real estate agent can conduct a Comparative Market Analysis (CMA). This analysis is a report that evaluates the area that the subject property is located in, and uses comparable properties (called “comps”) to give an estimate of the current market value of your home.
The CMA is a thorough report that includes details about recently sold homes with similar characteristics to your home. If this report is not able to be produced within 24 hours of the request, this is an issue.
Conclusion
Selecting the right real estate agent can mean the difference between a smooth process and one that is drawn out over an extended period. Use the tips provided above the weed through prospective real estate agents to find the one that is best for your deal.
