How to Find the Right Real Estate Agent in Your Area

Home buying, selling, or even investing is probably the biggest financial decision anyone makes. There are many ways of investing in real estate and benefits you can get from it. Thus, you need to put a lot of effort and work to be successful. From looking for a property, inspecting it, finding a mortgage lender, closing the deal, to a home insurance provider. The work is not easy and can be overwhelming. However, you do not necessarily need to do them all by yourself. There is a professional that can make the process easy for you- the real estate agent. Fundamentally, the real estate agent is the buyer’s, seller’s, and investor’s advocate. He represents them throughout the transaction. In addition, he negotiates and protects consumers from the start until the end of the real estate process. Therefore, careful selection is a must. This leads to an important question: how to find the right real estate agent in your area?

Some may argue that you can do the whole process on your own. With the fast-growing technology, there are tools available online that can help consumers evaluate available properties for sale. As a result, they tend to research on their own and opt not to avail services offered by the agents. While this may be true, there are other tasks that only professionals can do. There is only so much information the technology can provide. For instance, negotiating the price to a seller. It may seem easy, but it is probably the most critical part of a real estate process. To get the best price and terms of the deal, your offer needs to stand out from the rest. In doing so, you need years of expertise and analytical skill. It is a skill that you cannot find and learn on the internet.

Also, there are data that ordinary people do not have access to. For example, the Multiple Listing Service. MLS is an extensive database that is only accessible by real estate agents and brokers. It contains detailed information about the properties in the area, including their listing agents.

How to Find the Right Real Estate Agent?

According to the National Association of Realtors, there are 1,373,931 licensees in the United States as of March 2020. With such a huge number of agents, distinguishing the exceptional ones may be tough. Here are the key tips in finding the right real estate agent:

Interview At Least 3 Agents in the Area

One of the common mistakes that prospective buyers, sellers, and investors make is hiring the agent they first and only talk to. You may find the first agent amusing, but ideally, you need to interview several real estate agents in the area. In that way, you can compare and thoroughly decide which agent has the most relevant skills and experience. Besides, you need the one who perfectly matches your needs and personality. Someone whom you can get along. Because technically, you are “partners” in this transaction. If not, the experience will most likely be a disaster. Like what the saying goes, “it takes two to tango”.

Prepare Interview Questions for the Agent

In line with interviewing agents, you must prepare customized interview questions. It is okay to include generic questions. However, for you to find the right agent, you need to customize the questions based on your needs and preferences. The list of questions should highlight your goals and specific requirements.

Perform a Background Check

Doing a background check can help ease any uncertainties. Review the agent’s credentials, ratings, and experience. Maximize the resources available online to know how the agent interacts with other people and their response rate. You can also check the feedback given to them by their previous clients. Additionally, you can ask for a list of recent references.

Check their Knowledge on the Local Market

As mentioned above, the agent you will choose will be your representative throughout the real estate transaction. Hence, he must know the area very well. If you want to have a successful transaction, hire someone who knows the ins and outs of the local market. This includes the trend of the market, the other properties available, and the recently sold ones.

Attend Open Houses

If you have spare time, go out and attend open houses. It is one of the best ways to pre-qualify an agent. Use this opportunity to determine how an agent presents open houses and deals. Observe how he interacts and communicates with potential clients. Are you comfortable with his communication style? Did he come on time? Was he able to answer the questions about the property? Those are some of the things you must take note of.

Qualities to Look for in a Real Estate Agent

With almost 1.4 million agents in the United States, what sets the best agent from another? Aside from the tips above on how to find the right real estate agent, here are the qualities you must look for:

• Knowledgeable – This is the most crucial quality to look for in an agent. Look for someone who can properly assist and educate you. Make sure he has a good track record to assure he will do a great job.
• Responsive – The right agent will always be available for you anytime you need him. Especially during the critical part of the process. The responsiveness of the agent shows his commitment to the partnership. Above all, you will always get the best results if your agent responds promptly.
• Has Strong Attention to Detail – In real estate, it is important for your agent not to miss any detail. Even in the smallest detail. The best agent listens attentively to their clients. Doing this helps him find the perfect property that matches the client’s unique needs and preferences.
• Honest – Integrity is important in any job. It is a way to show that you have a good work ethic. In finding an agent, hire someone whom you can rely on doing the job even if no one is watching. Also, find an agent that will tell you the reality and other issues you may encounter along the process. If your agent keeps on sugarcoating and set unrealistic goals for you, get a new one.
• Problem-solver – In any case, you come across some problems along the way, your agent should help you overcome them. If your agent comes up with creative solutions, you did a great job in hiring him. A positive mindset is always helpful.

DISCLAIMER:

Neither Alpesh Parmar nor Wealth Matters associated claim to be an expert in tax, legal, or insurance strategies. WE STRONGLY URGE PROSPECTIVE INVESTORS TO CONSULT WITH THEIR OWN ADVISORS PRIOR TO DECIDING WHETHER TO INVEST. Please consult an expert or advisor.