The following are ways you can evaluate a real-estate agent’s potential success to represent you to buy or help you sell your home before you engage their services.
- Check references
Ask the agent to give you a list of properties they’ve sold or helped the buyer obtain in the past year, along with their contact information. Find out how long the home was on the market, what the list price was and then see how much the final contract price was.
- Check their licensing status
Find out if the prospective real-estate agent has had any complaints or disciplinary actions. Simply navigate to the Bureau of Real Estate. Make sure their license hasn’t expired as well.
- Pick a winner to represent you
One item that goes a long way is winning an award by your industry peers. Did they receive a “Realtor of the Year Ward” by a recognized state or local agency.
- Review Credentials
Real-estate agents can specialize in one area just like engineers. The following are some professional designations to look for:
- CRS (Certified Residential Specialist): Successful completion of educational courses in dealing with residential real estate.
- ABR (Accredited Buyer’s Representative): Completed further education in buyer representation.
- SRES (Seniors Real Estate Specialist): Fulfilled classes focused at helping buyers and sellers who are 50-years and above.
- How many years of experience do they have
The CA BRE has a consumer section that allows you to see for yourself how long they have been licensed and at what companies.
Ideally, you’re looking for an agent is very knowledgeable about the neighborhood and has more than five years’ experience unless their first impression simply dazzles you and they have a support team to ensure success.
- Check where the agent markets their listings
See what websites and media the agent uses to effectively market properties. Zillow and Realtor.com are top websites where should find their current listings and sold properties.
The majority of home buyers begin their search on the Internet, and you need an agent who utilizes that platform to the maximum.
- Ask test questions
A good real estate agent should know about other area properties in the neighborhood that sold or are still listed. If the agent knows about a property you bring up and can provide you with some details, that is a good sign he or she does know your area, and the neighborhood.
- Do You Work with a Team?
An agent who is part of a team can offer a lot of advantages. Some team members will have more in-depth knowledge of specific situations than another. Most will have broad knowledge and experience that will help in numerous situations. However, you don’t want to work with one agent one week then be tossed around to a second agent and another after that.
- Would You Reduce Your Commission?
Not all real estate agents are equal; Keep in mind that around 10% of the agents do about 90-percent of the transactions. Each agent his or her own budget for advertising and marketing your property. By going with an agent who has a big budget, you might gain more exposure to a larger pool of buyers. The more buyers and bidding on your property in increases the odds of a full-price offer (or above list price).
If you’re buying a home and selling a home simultaneously, giving both transaction commissions to one agent may seem excessive. You may want to stipulate you get a full-price offer on your home and purchase the new home a certain percentage below list price.