Seven Ways on How to Qualify a Real Estate Agent Before Listing The Family Home
Introduction
Buying or selling your property is a significant financial and emotional undertaking. This is especially true if you are helping your parents come to the conclusion that it’s time to sell the family home. I can assure you that from my own personal experience with my own mom, the minute the word got out that mom was toying with the idea of selling the house my dad built, she was inundated with countless calls, unsolicited visits, and a slew of business cards and flyers like confetti after a New Years Eve party. I’m sure many of these agents were competent but how do you really know for sure? What do you need to ask?
To navigate the complex real estate market successfully it is crucial to enlist the services of a qualified real estate agent who knows what they are doing.
A competent real estate agent can make the difference between a smooth transaction and a stressful one. Here are some suggestions that are essential for qualifying a real estate agent who is knowledgeable and experienced in the field that I looked for when helping my mom in the sale of her house.
1. Licensing and Credentials
The first step in qualifying a real estate agent is to ensure that they are licensed to practice in your jurisdiction. Licensing requirements vary from state to state and country to country, so it is important to verify that the agent holds the necessary credentials and is in good standing with the local regulatory authority. Additionally, look for any relevant certifications or designations, such as the Certified Residential Specialist (CRS) or Accredited Buyer’s Representative (ABR) designation, or Senior Real Estate Specialist (SRES) which demonstrate a commitment to professionalism and specialized knowledge. We ended up going with my sisters friend who specialized in Senior Citizens. You can always ask them what their specialty is and then go online and see if there license is still up to date.
2. Experience and Track Record vs New Agents
Experience is a critical factor when evaluating a real estate agent’s qualifications, but don’t base your decision on that alone. An agent with a solid track record is more likely to have the knowledge and expertise needed to handle various situations that may arise during a real estate transaction, but also may not always be available 24/7 that some of the newer agents would be. Ask potential agents about their years in the business, the number of transactions they have completed, and their success rate and if they have an experienced team member that can also assist in case that agent unavailable for potential showings. A new agent may have other real estate experience such as coming to the table as an investor, so their eye will be more from the place of experiencing what a potential buyer would be looking for, as well as how to get through the inspection phase. New agents are hungry, care, and will be very eager to please.
3. Local Market Knowledge
A competent real estate agent should have a thorough understanding of the local real estate market. They should be able to provide you with information on current market conditions, property values, neighborhood trends, and the availability of schools, amenities, and transportation options. An agent who is intimately familiar with the area in which you are buying or selling can offer valuable insights and guide you in making informed decisions. They should have an understanding or at least ways to find out about zoning ordinances, new developments, and building codes.
4. Communication and Availability
Effective communication is essential when working with a real estate agent. A qualified agent should be responsive, accessible, and able to adapt their communication style to suit your preferences. They should listen to your needs, answer your questions promptly, and keep you informed throughout the transaction process. If they talk more about themselves and listen less to you, that’s a red flag. It’s like dating. You will have a natural ebb and flow of a conversation and the right chemistry should kick in, if it’s there at all. Clear and transparent communication is key to a successful real estate experience. I usually give an agent that I’m seriously considering one break if they don’t pick up the phone during business hours. If it’s hard to reach them or their brokerage house, I’m done and on to the next agent. Don’t be shy to walk away or express how you feel. It’s your life.
5. Negotiation Skills
Real estate transactions often involve negotiation, and a skilled agent can make a substantial difference in your bottom line. Ask potential agents about their negotiation strategies and experiences. A competent agent should be able to demonstrate their ability to negotiate favorable terms, whether you are buying or selling a property. They should also have a deep understanding of contract language to protect your interests. They should prepare you for all the low ball offers that will come in and off the wall requests from buyers and how to handle that. It’s good for the agent to role play as if you were buying your own house and the things you would want.
6. References and Reviews
One of the best ways to gauge an agent’s competence is by seeking references and reading reviews from past clients. Reach out to the agent’s previous clients to inquire about their experiences and satisfaction with the agent’s services. Online reviews on platforms like Yelp, Zillow, or Google can also provide valuable insights into an agent’s reputation and performance. Be proactive and pick up the phone and call past clients.
7. Over Friendly
Don’t get caught up in the over friendly agent who brings you flowers and gifts and stays all day with you baking cookies. It can be misleading and can cloud your judgement if you start looking at them like they are your friend. They have a fiduciary obligation to put your needs above their own, so yes, it is a friendship that will develop but business is still business, and make sure all the other boxes check. Don’t hire an agent just because you like them or they are your relative. You will have to rely on your gut for this one.
Conclusion
Qualifying a real estate agent who knows what they are doing is a crucial step in ensuring a successful and stress-free property transaction. By considering factors such as licensing, experience, local market knowledge, communication skills, negotiation abilities, and references, you can make an informed decision when choosing a real estate agent. A qualified and competent agent will not only save you time and money but also provide peace of mind throughout the real estate journey, making it a rewarding and positive experience. When one door closes another one is waiting just for you.
Hedda Muskat is a California Notary and Licensed Real Estate Agent in the Los Angeles area. She’s a former Emmy Award winning TV producer from talk shows, a WGA writer, a Real Estate Investor with 40 years of buying and selling her own properties. Call 310–413–2861 or write: heddamuskat@gmail.com
https://abovethelinenotarialservices.yolasite.com/
