The purchase of a home, for the vast majority of individuals, is the single biggest financial decision made in their lives. Clearly, then, it becomes evident that the selection of a real estate agent is a serious consideration which should not be taken lightly. But what factors should be considered in the selection of a real estate agent?
Not all real estate agents are the same. Some real estate agents have a reputation for being difficult to work with. For example, an agent that is pushy, argumentative, unprofessional, is late for appointments, or misses deadlines can frustrate the buying process. A real estate agent should have a reputation for getting along well with all parties to a transaction, buyers and sellers included. An agent that takes a lawyer-like approach of zealous advocacy for one side in a real estate transaction cause the other side to walk away from the deal. Communication and “people” skills are important, as well as diplomacy and tact in the event a difficult situation should arise. And clearly, honesty is tantamount. london commercial property to rent
Communication skills involve more than just communicating information – in fact, the primary test of effective communication skills is the ability to listen. An agent should listen to your needs, consider them, and then use that information to guide you to the neighborhood and home that is perfect for you.
Ascertaing the reputation of a real estate agent requires some detective work. It is wise to ask for references, on both sides of the transaction. Ask about problems that occurred during the process, and how they were handled. Talking to both buyers and sellers about their experience in dealing with a particular agent can provide insight as to how you can expect your real estate experience to unfold.
Geographical Area of Expertise
It is important as well to ensure you are dealing with a real estate agent who is a “local specialist”. Many states technically allow licensed real estate agents to participate in real estate transactions anywhere within the state. However, a local specialist will be familiar with local selling practices. For instance, property transfer taxes vary by locale, as do the party responsible for paying them. In some locations, there may be different customs for the division of city and county property transfer taxes. You want to be sure that you are dealing with an agent familiar in local custom so as to avoid paying unnecessary fees.
One idea is to canvass the neighborhoods in which you are considering buying. If you see lots of yard signs for a particular agent in those neighborhoods, it is a good bet that the agent is a local specialist.
A local specialist will also be able to provide you information on schools, recreation, churches and synagogues, shopping and entertainment options in the area.
How to Select a Real Estate Agent
Word of mouth is usually the best and most reliable source of information regarding any particular real estate agent. This type of information is reliable in that it has not been “spun” by the agent and the source of the information has no particular motivation one way or the other, except to relate his or her experiences.