Tuesday, July 29, 2008

Choosing A Real Estate Professional

When it comes to choosing a service professional, real estate agents are a big decision. One of the largest investments of your hard-earned money deserves a carefully selected professional. So what do you look for in a real estate agent? To most people it is simple: somebody who will put them in the house of their dreams, without problems, without charging too much for their services. However, being an agent and having an insider perspective, there is so much more to it than that. 95% percent of the items we purchase as consumers are pretty straightforward as a transaction. You figure out what it is you want, find the cheapest one, and buy it. Return it if you change your mind or it is dysfunctional. With houses, it’s a thorough challenge to meet all of your needs. Figuring out what you want is only half of the battle, not to mention the challenge of shopping around and coming to terms on an acceptable price. A small army of people are usually involved in the transaction; lawyers, other realtors, inspectors, appraisers, lenders, underwriters, etc. Everything above contributes to why choosing your real estate agent is so important. They are your “go-to guy” for getting questions answered and making sure all of the small processes move seamlessly for you, the buyer or seller.

Of course you want an agent who is friendly, easy to work with, and knows the ropes of the business. On the other hand if this person doesn’t have attention to detail, responsive communication skills, and a full-time work ethic, you probably deserve better. Many agents only work in this business part-time, as supplemental income or as a hobby. This agent may lack a current market knowledge, the time you deserve, or timely communication to keep things moving. Having a full-time and involved agent benefits clients with the latest knowledge of the market and where it is heading. An agent with professional designations and who is current with legal and ethical topics is also key. Lastly, with as many issues that can come up as in real estate, experience will usually speak for itself. An agent who has successfully negotiated situations like yours, or has overcome an unforeseen issue before can sometimes keep a sale together that normally might fall apart.

As you can probably guess, The Steve Bock Team is composed of more than a single agent, and for good reasons. As agents we are licensed to handle a transaction from both ends, whether representing buyers or sellers. The traditional agent has a primary focus on obtaining listings and maintaining the relationship with their sellers, while helping homebuyers in their additional time. Our team specializes one step further, with one agent representing sellers and the other buyers. Each agent spends their time representing one type of client on one side of the transaction. The end result is a more exceptional and personal service to those clients. A single agent can only do so much, but 2 realtors and 2 service coordinators working together really delivers 4 person service for the price of one agent.

So the criteria to choose a real estate professional on are many, and we only covered a handful of them today. Just keep in mind when choosing your realtor that there should be more to it than a friendly face, somebody you know, or a relative. Find an experienced agent that works hard and is trustworthy. Don’t be afraid to ask them how they can differentiate themselves from other agents, and don’t commit to an agent that won’t commit to you. That’s all for this week, but check again soon to learn more about our team, and more about real estate, because the more knowledgeable you are the better!

3 comments:

Anonymous said...

Nice blog. I can just fully agree with points mention in an article. I am also working like a Toronto realtor on a full time bases. I think that is impossible to work just part time. Especially now when the crisis is going on and it requires lot of information, unless you don’t want to tell just sweet lies. So my recommendation is same. Hire a real professional!

Anonymous said...

Is there a good way to choose a real estate agent in another city?

Steve Bock said...

Great question! So if you will be buying in another city in the near future and are looking to hook the right realtor, you will certainly want them to have the same qualities mentioned in the blog. However, if you are currently using an agent local to where you are, there is a simple and effective fix -- a referral. Your current local agent may not be able to serve you where you are moving, but they can do the necessary research to connect you to one who can. It's a win-win-win situation for you and each realtor. The local realtor will find you an agent that matches your personality and is successfully working in their market, and get a referral fee for it. You get a hand-chosen real estate professional chosen by another professional who knows what they are looking for. The selected agent gets clients "by referral" who they can work with immediately, knowing their situation. Everybody is better off.