7 Ways to Identify A Good Real Estate Agent
When selling, finding the right agent to help you through the process is critical to a successful outcome.
Here are 7 tips to help you to identify a good real estate agent.
1. Good Real Estate Agents Are Experts at Negotiation
A real estate agent acts as the representative for sellers to any potential buyers interested in their property.
This role is about negotiating a deal so that both the sellers and the buyers can have their needs met.
Negotiating is the key role of your real estate agent, things to consider include :
* All sellers want to get as high a price as possible
* Buyers want to pay no more than necessary
* Negotiation involves creating the right environment
* Personalities play a big part in negotiation
* Has the agent studied negotiation.
* What proof do they have of their negotiation skill.
* Ask for examples of how they negotiate.
Negotiation of the sale of residential real estate is different to nearly every other purchase we make because real estate has no set retail price.
Every single property is unique, even in a new subdivision the blocks of land are all different.
It is true that one block of land of the same size is better than the block right next door to it, even though it is the same size because the 2nd block has a better aspect, or accessibility, or slope etc.
So when we consider what is the market value of this piece of property or that piece of property is, we have to acknowledge that the ultimate value of the property will only be determined by what a potential purchaser will agree to pay for it.
The only way we will find that out is by entering into negotiations with potential buyers.
Unlike most things that are bought and sold property is not mass produced.
It is not a product that simply can be replicated when one item is sold.
This is why it is different most other purchases transactions.
For example : Say you wanted to buy a new television, if you didn’t buy the television at retailer 1 “Bing Lee ” then you can just go down the road to perhaps retailer 2 ”Harvey Norman” or any other television retailer, and get the same television for a different deal possibly at a lower price.
You can not do this with real estate, every single property is unique, and so every single property has a unique selling price.
Which is largely determined by how the negotiation of the sale is handled.
You want a real estate agent that knows and understands the principles of negotiation and can use this knowledge to get the best selling result.
2. Good Real Estate Agents Are Area Specialists
It is good if a real estate agent can sell property in the same area where they live.
It helps when you are talking to potential buyers to be able to give personal anecdotes about schools and local facilities such as shopping and local eateries.
It is good when real estate agents focus on particular areas, and become area specialists.
You want to deal with an agent who is an area specialist.
Most buyers buy based on specific areas, so doesn’t it make sense that agents focus on specific areas too.
If they do this and list more properties in one area they can deal with the same buyers for the same area.
Deal with a local and deal with an area specialist.
3. Good Real Estate Agents Have Positive Customer Reviews on This Site
What really identifies the best real estate agents is what their customers say about them.
The agents with good customer reviews are therefore worthy of serious consideration.
Positive reviews from other consumers is social proof the agents have demonstrated good value to other consumers.
You can add your feedback on local agents by using the search facility at the bottom of the page.
4. Good Real Estate Agents Understand How Important It Is To Market Effectively Online
All agents will acknowledge the importance of the internet marketing.
You can't argue with the statistics and recent figures indicate approximately 90% of all real estate buyers research property information online.
If you are selling you have to make sure your online marketing campaign is outstanding and well considered.
A massive 90% of all your potential buyers do their property homework online, this is your most important area of marketing.
You want a thorough explanation of the online marketing plan from your agent.
It is critical that your property gets the online exposure it deserves.
5. Good Real Estate Agents Understand The Difference Between Smart Modern Marketing And Advertising
Smart modern marketing is one of your agents key roles.
Smart modern marketing is a lot more than just organizing good photos and putting together advertisements.
Smart modern marketing includes setting the scene for perfect buyer inspections.
Another example of what is meant by smart modern marketing would be a real estate agent who matches a new property with an existing buyer they have in their database.
Perhaps they have been working with this buyer for some time.
This is smart because the new property has all the features the agent knows the buyer is wanting to buy.
This is still marketing, it may be very targeted and very specific, but it is definately still marketing and it really can work for you the seller with great results.
In this example the agent may introduce the buyer to the property as the first stage of marketing, suggesting to the buyer that " i had to tell you about it because this property has all the features i know you were after".
The buyer is really grateful that the agent thought of them.
More importantly if the buyer is interested it creates a genuine sense of urgency to proceed, and when the buyers have urgency, you the seller are in a strong negotiating position.
It can result in the buyer paying a premium price because they are getting exactly what they are after.
In this instance the buyer is will still be happy because buying property is normally an emotional purchase more than it is a financial purchase.
This means for most buyers getting what they want is more important than how much it costs.
You the seller will be happy too because the agent will have negotiated you a fabulous high selling price.
This is a very realistic scenario and it happens a lot in real estate when there is a good real estate agent involved.
Look for an agent who keeps very detailed buyer database.
Maybe they may already have a specific buyer who will pay a premium price for your property.
Marketing can take many forms and it should be done with planning and with care.
Make sure your agent understands the difference between advertising and smart modern marketing.
6. Good Real Estate Agents Can Answer The Tough Questions
When you meet the agents ask them the right questions.
For a guide to what to say and the questions to ask the real estate agents see Best Questions To Ask The Real Estate Agents At Appraisal.
An example of a good question is :
"What will you do to get the highest price for my property?"
Then don't say anything.
Allow the agent plenty of time to answer this question.
If the agent can easily answer the tough questions with you chances are they have the strength of conviction to be able to answer the tough questions from the buyers.
If you ask the right questions it will give you a great insight into whether you are speaking to a good agent.
7. Good Real Estate Agents Are Helpful And Likeable
Thankfully this is a characteristic that most agents do have.
Most real estate agents arrive into the industry with an understanding that it is a customer service industry and that if they are going to survive they will need to be friendly and helpful to their customers.
Most real estate agent certainly start out doing this right.
The key is when they get busy do they continue to function this way.
Do they return your phone calls, and are they able to answer your property inquiries correctly and honestly.
All real estate agents should have these basic customer skills correct.
Find a good agent in your area by searching below.