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Old 05-26-2009, 05:10 PM
jpq jpq started this thread
 
48 posts, read 139,664 times
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I'm now in the process of finding a new realtor. How do I go about getting a good one?? I'm so jaded by this whole thing that I'm having a hard time putting my feelings aside. How do I know I can trust the next realtor? How can I ensure they'll do a good job? I don't know if there are truly any answers to these questions or if it's rhetorical but my head is spinning.....
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Old 05-26-2009, 05:24 PM
 
Location: Illinois
718 posts, read 1,963,716 times
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Find the one with the Crystal Ball sticking out of his briefcase.
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Old 05-26-2009, 05:49 PM
 
982 posts, read 989,717 times
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Quote:
Originally Posted by jpq View Post
I'm now in the process of finding a new realtor. How do I go about getting a good one?? I'm so jaded by this whole thing that I'm having a hard time putting my feelings aside. How do I know I can trust the next realtor? How can I ensure they'll do a good job? I don't know if there are truly any answers to these questions or if it's rhetorical but my head is spinning.....

That is exactly how I came to go to real estate licensing school and now buy and sell my own property. It's really not that difficult. You may want to give it a try. If you don't mind putting in some hours reading, there are plenty of books on the subject. You don't have to do it completely alone. There are limited service agencies that will put your listing in the MLS for a flat fee of anywhere from about $200 to $800 for six months. Just do some careful research. You can order a lockbox from an online site, so you don't have to be there for showings either. You can always pay a real estate atty a few hundred bucks to go over your contract once you settle on your price and you have negotiated the sale. Depends on, like I said, if you're willing to do some homework and due diligence.

Good luck!

If you're not comfortable doing it yourself, then I suggest you interview a handful of agents from a lot of different agencies. I'd ask to speak to their most successful (in terms of sold listings) agents. Interview them on the phone. Then ask the ones you like the best for an in-home interview. Tell them up front you don't want CMAs until AFTER the interview. I am a firm believer that anyone who comes up with a price for your house sight unseen is not a pro. Ask them their ENTIRE marketing plan, where your house will be advertised, how often they'll hold it open, if they're willing to cut their commission based on how long it takes to sell. For instance, if you agree to start at 6% and it doesn't sell in let's say 90 days, would they be willing to go to 5% after that? They take 2 and the buyer's agent takes 3. Ask them how they will communicate with you about traffic, feedback, etc., and how often. Ask them what networking sites, clubs, activities they belong to to get the word out about your house. ASK FOR REFERENCES! And then call those references and talk to them. Go to their websites and find out what listings they have. Drive by them. Knock on the door and talk to the sellers and ask them if they're happy with the guy. They will only give you good references, find out the rest on your own.

Those are off the top of my head. I'm sure others can add to the list of things to ask.
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Old 05-26-2009, 08:27 PM
 
Location: Barrington
61,219 posts, read 41,999,482 times
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Quote:
Originally Posted by MsFancyPants View Post

I'd ask to speak to their most successful (in terms of sold listings) agents.
What is a successful agent?

The most productive agents do a few things better than the less productive agents......they persuade potential clients to become clients and then persuade those clients to do what is necessary to get sold.

Agents know that sellers tend to be interested in the price more so than anything else. Some agents play to this and buy the listing by suggesting a price that is often substantially greater than it will eventually sell for.

In depreciating markets, the longer you sit, the greater the spread between the original ask and final sale price. An agent who knows their local market has a crystal ball and can tell you how to obtain the maximum net proceeds by pricing it correctly, right out of the box.

And some of them will not take the listing if the seller has unrealistic expectations.

If you and /or your agent is unwilling or unable to create a perception of value within your local market, why bother? Your property will be used to sell the competition. It's a waste of everyone's time.

Agents and consumers have bought into this "average days on market" and "absorbtion rate" businesss. What's really going on is that it's taking agents and sellers XXX days on the market to come to grips with the market, before they do what they need to do, to get sold. And during that elapsed time, they lost opportunities to get sold, because buyers took a pass and bought something else.

A heck of a lot of long time successful agents are having a challenging time adjusting their own perspective from an ever appreciating market to a depreciating market. Sellers persist in testing the waters/ not going to give it away/ a buyer can always make an offer all the while, they are loosing money.

Real estate brokerage/agency is a high risk/high reward career. Consumers are not willing to reduce the risk and thus, the cost of brokerage is what it is. If an agent cannot defend their fee, they are not going to be able to defend much of anything else. Most people get what they pay for. If you want a discounter, do not expect full service. If you want a flat fee and DIY, go for it. They are occasionally sucessful at certain price points and in some geographical areas. They have no business risk and charge rock bottom prices, regardless of the result.

A good agent is going to tell you what they are going to do, when they are going to do it and why they are doing it. A good agent is going to want to know how you prefer to communicate and how frequently.

Many agents claim to be number one and/or top dog. Believe them all. Find the agent that makes you number one.
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Old 05-26-2009, 09:43 PM
 
Location: Atlanta/Decatur/Emory area
1,320 posts, read 4,029,163 times
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Quote:
Originally Posted by jpq View Post
I'm now in the process of finding a new realtor. How do I go about getting a good one?? I'm so jaded by this whole thing that I'm having a hard time putting my feelings aside. How do I know I can trust the next realtor? How can I ensure they'll do a good job? I don't know if there are truly any answers to these questions or if it's rhetorical but my head is spinning.....
A new agent to list your home for sale or a new agent to help you find a home to buy?

I don't know what your story is, so I don't know why you're looking for a new agent, but clearly you were dissatisfied with your previous agent. Why? What did that agent do (or fail to do) that you consider a "bad job"?

You might have an easier time finding an agent who will live up to your expectations if you can clearly define those expectations, both to yourself and to the agents you interview.

If you're trying to sell a home, is it simply the fact that your home did not sell that you consider bad? Or are there specific things that you believe your agent should have done. Define those and then make sure that the new agents understand that these are things you consider important and you require that they meet these expectations if they are to get your listing. Was marketing a problem? Get specifics on their marketing plan. Was it communication? Find out how they communicate and then test them -- do they pick up the phone when you try to reach them and do they call or e-mail you back quickly if they don't pick up immediately? Was the problem follow-up after showings? Ask how each agent handles this.

If you have a clear sense of what constitutes a good job, listen to the potential agents as you interview them and try to ferret out their practices about those different aspects of the job.

As with most service businesses, personal referrals from people you trust are generally a good way to start but because real estate is usually hyper-local, make sure you limit your inquiries to friends and associates in your immediate area so you can find an agent with expert knowledge about your community.

Best of luck!
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Old 05-26-2009, 10:48 PM
 
Location: Hermoso y tranquilo Panam√°
11,874 posts, read 10,430,466 times
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Quote:
Originally Posted by jpq View Post
I'm now in the process of finding a new realtor. How do I go about getting a good one?? I'm so jaded by this whole thing that I'm having a hard time putting my feelings aside. How do I know I can trust the next realtor? How can I ensure they'll do a good job? I don't know if there are truly any answers to these questions or if it's rhetorical but my head is spinning.....
Hi again, JPG. like someone else mentioned interview several first - who's the biggest 'player' brokerage wise in your area (selling the most property) then once you find the brokerage, then interview several of the Realtors there to find the one that will fit your needs. I know your situation from previous post, so you do need to clearly let them know what happened in the past and what your expectations are.

Ask them how are they going to market your house (other than basic MLS, etc.) and be realistic about list price. Competitive market out there so depending on your motivating factors, keep all of that in mind. Not sure I agree with another poster about not having the Realtors bring comps of recent sales, because that can help you determine the going rate so to speak (of course, until they see your actual house in person they shouldn't be spewing numbers out of their you know what) - if you're motivated then price it where you're one of the lower priced comps on the market. But be very, very clear to your new Realtor about the levels of service you expect, including timely responses, inputting 'correct' data the FIRST time, doing open houses, and if you're lowering the price, then send out updated info to other local brokerages so they know you've had a price change. I know this shows up on MLS, but a nice flyer notification might get their attention faster. And, of course, have nice flyers in flyer box on the For Sale sign for 'drive by' buyers. JMO. Good luck!
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Old 05-26-2009, 10:52 PM
 
Location: Just south of Denver since 1989
11,606 posts, read 32,101,361 times
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I look for local Realtors with an ABR, CRS and/or e-PRO designation.

Personally, I am partial to Women's Council of Realtors members.
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Old 05-27-2009, 07:19 AM
jpq jpq started this thread
 
48 posts, read 139,664 times
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Thank you for your responses. I already have my list of questions and my expectations. I hope I can get past my trust issues. After all, our realtor did say all the right things, it's just that she didn't follow through on any of them.
I told my husband I was going to call a company and ask to speak with an agent who specializes in my area and is a top seller (i have learned that some agents are better at buying houses than selling). He doesn't think that's the way to go about it. Then how am I going to find someone?
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Old 05-27-2009, 07:32 AM
Status: "Functionally obsolete" (set 3 days ago)
 
Location: Coastal Georgia
43,945 posts, read 54,767,802 times
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I know how you feel. We had one realtor for a year, then a different one for a year. I know our present realtor would love to sell our house, since he's a friend and needs the money, but I feel we must shop yet again for a third one.
Since there was only one sold comp in our price range in the past year, I wonder if switching will do any good?
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Old 05-27-2009, 08:39 AM
 
Location: Barrington
61,219 posts, read 41,999,482 times
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Quote:
Originally Posted by jpq View Post

I told my husband I was going to call a company and ask to speak with an agent who specializes in my area and is a top seller (i have learned that some agents are better at buying houses than selling). He doesn't think that's the way to go about it. Then how am I going to find someone?
Listing agents do not sell property.

The best listing agents negotiate with and persuade their clients, the sellers, to do whatever is necessary to create the best perception of value in the local market.

There is no amount of marketing or effort that can overcome a bad price.
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