A Crossroads of real estate experience, and what you should ask your agent...
Change is in the air. Can you feel it? Can you smell it?
The real estate industry is at a crossroads point - and there is a clear divide between the "old school" and the "new school." The plain fact of the matter is this ain't your mom and dad's real estate industry anymore.
From a consumer perspective, if you are looking to buy or sell a home, it is critical that you align yourself with an agent who knows how to get your transaction closed! How many of you have worked with an agent who just can't seem to get your offers accepted? The problem isn't you. Most likely you're working with an agent who lacks the experience and hunger necessary to get your offer accepted!
Here's the irony though: Its the concept of Experience. As a home buyer or seller, you can no longer feel confident working with an agent who says they have "25 years of experience in the industry." In many cases, what we learn is that these agents continue to do things the "old" way, and as a result, do their clients more harm than good. Their "old school" experience actually can do their clients a disservice.
Those 25 years can mean nothing if the agent doesn't truly understand the process of a "short sale," for example, or if they simply don't have the drive and hunger necessary to go to bat for you the way they need to in today's market.
If an agent tries to convince you to work with them because they have "years of experience," be wary.
If you're looking to purchase a home, here are some great questions you should ask your perspective agent to truly gauge just how right of a fit they are for you...
Q: How familiar are you with the areas I'm interested in?
Q: I will most likely be competing against several other buyers on any given property. What do you do differently that will make my offer stand out from the rest?
Q: How many other clients are you working with simultaneously? How often will we go look at properties? Will you go with me or do I go on my own?
Q: What do you recommend in terms of submitting offers? One at a time and wait for the results?
Q: Please explain to me how making an offer on a short sale works. Do you recommend we continue to submit offers on other properties even if we get an acceptance on a short sale?
Q: I'd like to see a sample of an offer package you've put together in the past to see how professional your offer presentations are.
Q: How do you come up with an accurate home price in this market? How do you do your research?
Q: What makes you stand out as an agent from the rest? What makes your brokerage stand out from the rest?
As a consumer, you're asking these questions for very specific reasons. You want to know that your agent is literate, articulate, and can present themselves well - how agents sell themselves to a seller and listing agent can be just as important as how they sell you and your offer.
You also want to make sure they, and their brokerage, stand out from the rest. Believe it or not, an agent with a unique identity can make them unique in the mind of a listing agent and seller. Not only that, but you want to make sure the brokerage your agent is associated with has a stellar reputation - not a reputation with any sort of negative connotation.
You're listening to hear that the agent is willing to dedicate the time and energy necessary to close your deal. You don't want them sending you out on your own to find properties for them. You also don't want them to submit one offer at a time and wait for the results - especially on short sale listings! And even if your offer on a short sale is accepted!
Most importantly, you want to know that your agent has your best interests at heart - that they are two steps ahead of everyone else - and that they are keeping you educated and informed about every step of the process.
Stay tuned for some great questions to test your agents on the listing side of things if you're looking to sell your home!
- Jeremy
Jeremy Howard is the Founder and CEO of Real Estate Dynamic (www.RealEstateDynamic.com), the most progressive and influential Social Club for entrepreneurial real estate professionals on the planet. He is also the Broker & President of several successful prestige real estate brokerages, including Casa Latino Southern California (www.CasaLatino.com/SoCal) of which he is the Territory Owner for franchise development for Los Angeles County and Orange County, and H Premiere Properties (www.HPremiereProperties.com), specializing in a wide variety of higher-end prestige properties and a celebrity clientele.
www.jerhow.com
