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What do you think is better, a realtor from a large real estate agency or from a small one?
I ask because the area we are looking to move to, seems to be dominated by one HUGE real estate agency. They are everywhere; at least 1/2 if not 2/3 of all homes for sale in the area seem to be sold by this one company. This seems odd to me, as where I am now has so many real estate agencies that none seem to dominate.
I have major salesperson paranoia...anyone who makes a commission off of what I buy cannot have my best interests at heart, IMO. I have read articles warning of home inspectors who overlook flaws because they get kickbacks from the realtor, who needs to make the sale. I have read of realtors who try to only show homes that are for sale through their company. *yikes*
I am not a first time buyer...I bought a home 5-6 years ago with a realtor and we were her first sale ever. She was wonderful, there were several glitches and she got us through all of them with a cheerful attitude. But the real estate attorney she recommended through her agency was atrocious, and when we had to decide on a price to offer, she strongly advised us to offer the asking price. Maybe she had good reason to, and being younger and naive we listened to her, but now I always wonder if I could have bought the house for less.
Anyway, I digress...do you think it is better to use a realtor from a small company, a large company, or perhaps it doesn't matter and I should just focus on finding the most highly recommended realtor regardless of agency?
Location: Danbury CT covering all of Fairfield County
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Words from an agent
It depends on the individual agent. Like all professionals, there are the good ones and the not-so goods ones. Some of them will return your calls right away while others might take a couple of days. The company that has all the listings in your area could just have the most overall number of agents, one company I interviewed has close to 100 agents, but the office I work out of has about 40.
I don't get any kickbacks from any of the vendors I suggest to my clients (my mortgage person, attorney and inspectors). One of my clients didn't go with my mortgage person, but she looked over the papers (as a free service) and saved them over $3000 in bogus closing costs. They just give great service and I get along with them well. I show my buyers everything that is for sale that meets their needs. It doesn't effect my commision if I sell my own company's listing or not.
Whenever I write up an offer, I made a compartative market analysis by seeing what similiar homes with the same amenties,condition, size and location sold for in the 4 months and suggest a number based on that information. I even got 20% below listing price for one of my buyers because the listing agent considerably overpriced it.
The area that I live in is also dominated by one agency. When we first started looking into the area I met with one of their agents. She was awful! A different agent from the same company showed my house yesterday, and the difference was night & day.
Hi Christina,
I am a commissioned mortgage loan officer and I work with realtors daily. I've found the small ones seem to give more attention to my client and are more appreciative of referrals, etc. In our area, some of the large realtors have started their own mortgage company---does that seem to be in the best interest of the buyer? I have an agent from a small company who hands out my card to buyers. In turn, I refer buyers without agents who call in to me to get pre-qualified to her. Some of the "top producers" may be great sellers agents but are lousy at being buyer's agents. If you can find a highly recommended realtor from a small company you may be the most satisfied. Being completely unfamiliar with the NJ market, just relating my experiences here in KY. best of luck to you!
I've found the small ones seem to give more attention to my client
That's what I am thinking. On one hand, a large real estate firm may have more combined experience and resources to help me...but on the other hand, smaller companies tend to give better customer service. I'm thinking WalMart vs. mom&pop stores, the little guy is usually a little more motivated to help.
Christina0001 said, "I'm thinking WalMart vs. mom&pop stores, the little guy is usually a little more motivated to help."
You are exactly right! That's the back bone to my business module!! Somewhat the same difference between enlisted and officers-We work for a living!!
Poprocksncoke asks, "What's the difference between a real estate agent and a real estate broker?"
The terms can be intermingled but there can be a difference. Often times there are two levels of a real estate agent. One who holds a "sales" license and one who holds a "Brokers" license. To hold a broker's license requires advanced schooling and licensing.
Some states-Like the state I live in, North Carolina-now require all agents to have a Brokers license.
Bill
it really depends on the company I have seen small companies who have awesome service and some who really are bad the key is always have an agent who is willing to talk on the phone with you instead of email so its personal and you know where other is coming from tone of voice is always key thats what professionalism comes from if they are all about email then they are busy doing other things than looking out for you best interest good luck to you
What's the difference between a real estate agent and a real estate broker?
Is one more beneficial than the other?
Bill answered this fairly effectively. Its basically the level of Real Estate License. Oregon requires all agents to have a broker's license, and Washington is adding the same. There is then the "Principal Broker" of the office. What that is, is basically the office owner. They're the ones who can be held responsible if a transaction is screwed up by one of their agents.
I work for a real estate company in their technology group. The thing to know, Real Estate Companies are usually franchised. Meaning each office is individually owned and operated. What this really means is that it doesn't matter if you go with Big Box Company or local company. Because each office is usually owned by a local person. One has just chosen which brand to go with.
There are good agents and bad agents in every single real estate company across the world. The key is to find one that YOU like, and YOU can establish a relationship with. My recommendation to people is to ask your friends in the area who they've used, and if they were excited. My father's agent is also my brother's scout leader. Thats the kind of interpersonal relationships I look for when selecting an agent.
Depending on the state, there are various laws that dictate how agents handle home inspections. You should always be able to call your own company and schedule a fully independent inspection.
Hopefully that helps. To recap, in my opinion.. the company doesn't matter, the agent does.
Also, most companies will push agents to show other agent's listings. However, any agent worth their salt will "show my buyers everything that is for sale that meets their needs." - jdhall1. If you have an agent and all the listings you see are just from that company, I'd address that with the agent and/or find a new agent.
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Words from an agent
