Buying or selling a home is a big financial decision, yet many people avoid putting effort into finding the right real estate agent. Choosing the right agent can save you time and stress whether you are trying to find an affordable house or would like to sell your home for the best price possible.

It’s important to understand what makes an agent reputable, the false assumptions that prevent people from making good choices, and the questions you should ask before “hiring” a real estate agent.

Check out the following information to help you make an informed decision when selecting a realtor:

What is a Realtor?

In order to sell real estate, a person must be licensed by the state in which they work. A license is approved when the individual satisfies all state-determined requirements and exams. After receiving their license, most agents join their local board or association of REALTORS® and the National Association of REALTORS® and must adhere to their Code of Ethics. When a realtor promises to abide by this code, they must share all information they know about a house whether it is positive or negative. If there was previous water damage, the realtor must disclose this information.

Typically, realtors share information on the homes they are marketing through a Multiple Listing Service (MLS), a database used by realtors representing sellers to share information about properties with agents representing potential buyers.

Now that you know a little more about realtors, let’s go over the best way to find one and avoid disaster.

Choose a Realtor: Ignore Assumptions

We’ve all heard stories about how someone saw a house for sale, called the phone number listed, and from that point on, they continued to work with that realtor whether he/she was a good fit or not. Below are a few reasons why folks justify working with a particular agent and how you can avoid suffering from these assumptions.

My cousin, friend (enter any relationship here) works in real estate:

It’s a good idea to ask friends and relatives if they know someone who may be a good fit for the home buying or home selling process. However, the basis of a friend’s opinion of the agent could vary from yours and they may have different standards or needs than you. Don’t choose your friend or family member out of obligation, rather, pick someone based on their credentials. It’s not worth risking your relationship if things don’t go as planned.

As long as the realtor is good, the agency doesn’t matter:

Just like the president with an intelligent cabinet, agents are enhanced by the agency that supports them. Agents who work for well known, established companies have some advantages over little-known agencies. They typically have larger budgets so they can spend more on additional marketing tactics and continued education of their agents. In addition, they tend to have longer office hours to accommodate different schedules, which means greater accessibility when there are questions or concerns.

The agency is well known so the realtor must be good:

Likewise, just because the agent works for a nationally known agency, it doesn’t mean you have the best agent on your side. It’s important to ask how many of their listings were sold and if the price had to be reduced multiple times in order to do so. Also, ask how often communication will occur with you so that it meets your expectations.

The agent agrees with my asking price:

While it feels good to think your agent is on the same page as you, he or she may just be agreeing to earn your business. Rather, it’s better to have an agent who is realistic about the value of your home and the ability to sell your home at a particular price – both of which may be significantly different than what you hoped for. Pricing your home appropriately will ensure you don’t get overlooked for being too high or considered desperate if priced too low.

Frequent open houses mean more traffic and more interest in my property:

Very few homes are sold as a direct result of an open house. Typically, realtors are trying to find out about the needs of the visitors and sell them a home that they love, which may or may not be your home. The best strategy is to get other agents interested in the home, which increases the amount of people advocating for your house as a great catch.

Choose a Realtor:  Ask the Right Questions

Now that you know what to look for, it’s time to determine which agent is a good fit for you. Essentially, you should interview two or three realtors. Here’s a list of questions that may help you feel confident in your choice.

• Do you belong to the MLS? This database is key for finding descriptions of homes in your area.

• Is real estate your full-time career? If he/she only dabbles in real estate on the side, there might not be much time to devote to your needs.

• How long have you been doing this? There’s quite a bit of turnover in the real estate business, so someone who has been doing it for several years has learned how to market/sell during fluctuating market conditions.

• What makes you different/better than another agent? It’s also a good idea to ask about the agency and why you should prefer them versus another in town.

• Are you representing the seller or the buyer? Know their allegiance. In most states, the seller’s agent doesn’t have a confidentiality duty with the buyer, only the seller. So avoid dual-agencies who represent both parties, it could get messy.

• As a seller, how will my home be marketed? Ask how you can avoid being just another house with a sign out front.

• As a buyer, how often will you contact me or show me properties? Make sure the agent communicates via phone, email, or any means convenient for you. Also, if you are only available to look at homes at certain times, confirm that your schedule will be accommodated.

• Do you know the area well? Discuss with them the location, demographics, school system, worship sites, anything that’s of interest to you.

• What have homes in the area sold for recently? Ask this to determine if the agent is in tune with market conditions. Trends can vary just a few blocks apart.

• How many homes have you listed in the last 6 months and how many have sold? If there’s no data to indicate that this agent is successful in your area, it’s probably a sign to move on.

• Will you help with other aspects of the home process? Agents should be able to recommend other professionals in their network, such as mortgage professionals, home inspectors or real estate lawyers.

• Do you have references (past clients) I can contact? There’s nothing wrong with asking to chat with some of the agent’s past clients if they are willing to do so.

The great news is there are resources available to help you with your search.  Carlson Mortgage works with several dozen real estate agents with years of experience, who specialize in different areas. Remember, the best agent for you is the one who will make the process smooth and stress-free, whether you are the buyer or the seller. They must be knowledgeable, accessible, effective at marketing, negotiating and communicating, and willing to go the extra mile to ensure your satisfaction. Contact us at 314-329-7314 for a referral.

Posted by:  Carlson Mortgage – a Saint Louis mortgage broker.  Our Home Loan Experts can be reached at (314) 329-7314 seven days a week. Let us be your source for some of the lowest interest rates in St. Louis on conventional, FHA, Veterans (VA), USDA, Jumbo and HARP 1.0 and 2.0 loans. We have 10 years of experience providing mortgage services that are tailored individually to your unique needs and to your financial situation. We speak English, Spanish and Russian. Call us today!

Original Article can be found here: How to Choose a Realtor