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I'm speaking in general terms. My house is about to go on the market. It was professionally deep cleaned earlier. Last week, I called 5 realtors to come and "interview" each one. Then I chose the one with the most positive and enthusiastic attitude that also has a very good record when it comes to selling houses. Yes, I researched on each one.
But really. Aside from doing those things, do we really ever know if we got the right realtor?
Getting the one with the most sales is not always the best idea. I have a friend who used to be a realtor before he went back to school for engineering. He told me that some realtors have a lot of sales because they under-evaluate the value of your house to make a quick sale. This was confirmed by a member on here. And this was further confirmed when the realtor with the most sales listed on the internet also gave me the lowest number for the value of my house. All the other ones came to very similar numbers. Then all of a sudden the number dropped by like 20-some thousand dollars.
Anyway, I really cannot think of how else to know if we picked the right realtor. Am I right to think that there really is no way to ever know we got the right realtor for the job?
Getting the one with the most sales is not always the best idea. I have a friend who used to be a realtor before he went back to school for engineering. He told me that some realtors have a lot of sales because they under-evaluate the value of your house to make a quick sale. This was confirmed by a member on here. And this was further confirmed when the realtor with the most sales listed on the internet also gave me the lowest number for the value of my house. All the other ones came to very similar numbers. Then all of a sudden the number dropped by like 20-some thousand dollars.
Anyway, I really cannot think of how else to know if we picked the right realtor. Am I right to think that there really is no way to ever know we got the right realtor for the job?
While I agree with you that picking the agent with the most sales or the one who claims to be "#1" is no guarantee of success, I would also say that basing your judgement on the value the agent puts on your house is the wrong way to go. Just as there are agents who will undervalue your home to make a quick sale there are also agents out there who will try to "buy" your listing by giving you an over inflated price. In fact, I'd say there are more agents who try to buy your listing than there are ones who will under value it.
Quote:
Originally Posted by MetroWord
I'm speaking in general terms. My house is about to go on the market. It was professionally deep cleaned earlier. Last week, I called 5 realtors to come and "interview" each one. Then I chose the one with the most positive and enthusiastic attitude that also has a very good record when it comes to selling houses. Yes, I researched on each one.
But really. Aside from doing those things, do we really ever know if we got the right realtor?
Did each one provide you a marketing plan? Did any of them educate you on the market conditions in your location? Did they all show you comparable sales in the immediate area of your home?
IMO, a good agent will educate you so that you can informed decisions rather than insisting that they make the decisions on your behalf. A good agent also will not keep a secret what they're doing to try to find a buyer for your home. The bad/ineffective agents don't want to discuss what they're doing because they're not doing anything.
While I agree with you that picking the agent with the most sales or the one who claims to be "#1" is no guarantee of success, I would also say that basing your judgement on the value the agent puts on your house is the wrong way to go. Just as there are agents who will undervalue your home to make a quick sale there are also agents out there who will try to "buy" your listing by giving you an over inflated price. In fact, I'd say there are more agents who try to buy your listing than there are ones who will under value it.
Did each one provide you a marketing plan? Did any of them educate you on the market conditions in your location? Did they all show you comparable sales in the immediate area of your home?
IMO, a good agent will educate you so that you can informed decisions rather than insisting that they make the decisions on your behalf. A good agent also will not keep a secret what they're doing to try to find a buyer for your home. The bad/ineffective agents don't want to discuss what they're doing because they're not doing anything.
2 of them brought plenty of listings and sold properties in my area and explained to me thoroughly. I ended up picking one of these 2.
There's not just one right agent. There's a lot of good agents! Be happy if you're pretty sure you got a good one.
There will potentially be many more decisions and judgment calls in this process. At some point you'll have to trust your own judgment and try to have peace with it.
I'm speaking in general terms. My house is about to go on the market. It was professionally deep cleaned earlier. Last week, I called 5 realtors to come and "interview" each one. Then I chose the one with the most positive and enthusiastic attitude that also has a very good record when it comes to selling houses. Yes, I researched on each one.
But really. Aside from doing those things, do we really ever know if we got the right realtor?
Getting the one with the most sales is not always the best idea. I have a friend who used to be a realtor before he went back to school for engineering. He told me that some realtors have a lot of sales because they under-evaluate the value of your house to make a quick sale. This was confirmed by a member on here. And this was further confirmed when the realtor with the most sales listed on the internet also gave me the lowest number for the value of my house. All the other ones came to very similar numbers. Then all of a sudden the number dropped by like 20-some thousand dollars.
Anyway, I really cannot think of how else to know if we picked the right realtor. Am I right to think that there really is no way to ever know we got the right realtor for the job?
Metro,
When you ran your own comps, how did they compare to the comps from the brokers? We are talking about 5 figures in real estate commissions. My guess is that you haven't done any serious research on comps which is why you are posing the question here. Dive into current listings and recent sales. Become an "expert" in your market. That way you can be confident in the listing price and your broker.
When faced with such a huge conflict of interest, it's a smart move on your part to doubt the broker's motivations. Learn the market. If you are unwilling to do a FSBO, you must become educated or risk being taken advantage if by an unscrupulous agent.
From what I've seen on this forum, the licensed brokers/realtors here are likely highly ethical but by no means representative of your locale. Caveat emptor.
When you ran your own comps, how did they compare to the comps from the brokers? We are talking about 5 figures in real estate commissions. My guess is that you haven't done any serious research on comps which is why you are posing the question here. Dive into current listings and recent sales. Become an "expert" in your market. That way you can be confident in the listing price and your broker.
When faced with such a huge conflict of interest, it's a smart move on your part to doubt the broker's motivations. Learn the market. If you are unwilling to do a FSBO, you must become educated or risk being taken advantage if by an unscrupulous agent.
From what I've seen on this forum, the licensed brokers/realtors here are likely highly ethical but by no means representative of your locale. Caveat emptor.
Here is why it is impossible for us to do a FSBO. I'm almost across the country and the spouse is on a different continent.
But really. Aside from doing those things, do we really ever know if we got the right realtor?
Anyway, I really cannot think of how else to know if we picked the right realtor. Am I right to think that there really is no way to ever know we got the right realtor for the job?
Stop second-guessing yourself. Each house sale is different, even though there are fundamentals that apply to every sale. To me, it seems that most people feel that they have had a good agent experience when their expectations regarding communication frequency and delivering promises on time are met, and transactions are handled efficiently. The minute any of these three main areas start slipping, sellers get anxious and unhappy. You're hiring a professional, not a new best friend -- they should be able to talk you off of cliffs and ceilings, defuse tense situations, and keep you focused on your selling goals.
You will know if you had a good agent if, when you walk away from your closing, you feel as though "ok, that wasn't as bad as I had expected . . . "
When I say, "focused on your selling goals", I have to admit, I was as guilty as anyone of losing focus 30 years ago when we sold our 2 year old house in Florida after a job transfer. Husband had 700 miles away to start job, I was left behind with a baby, flying to meet my husband every other weekend to househunt, and trying to keep the house "show ready" with a baby. We finally got an offer, and the buyers wanted to include my new washer and dryer. I dug my heels in. "NO! they're MINE! they're NEW! NO!" The agent just looked at me, and then pulled a piece of paper over, and said, "How much did they cost?" I told her. She smiled slightly, and said, "OK, let's think this through -- how many more trips are you willing to make to Atlanta with the baby to save that $800?" Each trip was about $300 . . . she scribbled numbers on the paper, and suddenly, the washer and dryer seemed much less of an issue. :-)
But really. Aside from doing those things, do we really ever know if we got the right realtor?...
Anyway, I really cannot think of how else to know if we picked the right realtor. Am I right to think that there really is no way to ever know we got the right realtor for the job?
You don't really know until you get into the transaction or sometimes through with the transaction. You increase your odds by doing the interviews though.
When faced with such a huge conflict of interest, it's a smart move on your part to doubt the broker's motivations. Learn the market. If you are unwilling to do a FSBO, you must become educated or risk being taken advantage if by an unscrupulous agent.
From what I've seen on this forum, the licensed brokers/realtors here are likely highly ethical but by no means representative of your locale. Caveat emptor.
I can't tell you how counterproductive having a paranoid attitude toward your agent is. It saves me a lot of time and breath when my clients trust me implicitly but if you're not the type then I would recommend the "trust but verify" attitude. Feel free to ask as many questions as you want. Especially the kind that start with the word "why." If your agent can't explain themselves . . . well then maybe it's time to find another agent.
Quote:
Originally Posted by dblackga
You will know if you had a good agent if, when you walk away from your closing, you feel as though "ok, that wasn't as bad as I had expected . . . "
Quote:
Originally Posted by Brandon Hoffman
You don't really know until you get into the transaction or sometimes through with the transaction. You increase your odds by doing the interviews though.
As these others have said . . . it's hard to insure that you've hired a good agent. Sometimes, you don't realize your agent is terrible until it's too late to make a change. Do the best you can to weed out the bad ones in the interview process, but if you do hire a bad agent also don't be afraid to fire them.
While I agree with you that picking the agent with the most sales or the one who claims to be "#1" is no guarantee of success, I would also say that basing your judgement on the value the agent puts on your house is the wrong way to go. Just as there are agents who will undervalue your home to make a quick sale there are also agents out there who will try to "buy" your listing by giving you an over inflated price. In fact, I'd say there are more agents who try to buy your listing than there are ones who will undervalue it.
Did each one provide you a marketing plan? Did any of them educate you on the market conditions in your location? Did they all show you comparable sales in the immediate area of your home?
IMO, a good agent will educate you so that you can inform decisions rather than insisting that they make the decisions on your behalf. A good agent also will not keep a secret what they're doing to try to find a buyer for your home. The bad/ineffective agents don't want to discuss what they're doing because they're not doing anything.
I agree with you. A good real estate agent will help you in buying a home according to your requirements at a fair price. He will discuss with you each detail related to property concerns.
Thanks!!
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