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Feb 14
2011
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Tips for Finding the Right Realtor
Posted by: Buildium LLC on Feb 14, 2011 10:58 Tagged in: Residents , Resident Satisfaction , Resident Retention , Property Management Software , Property Management Companies , Property Management , Occupancy , Multifamily Executive , Multifamily , Lease Termination , Lease Renewal , Lease Agreement , ForRentByOwner.com , Apartment Search , Apartment Residential , Apartment Marketing , Apartment Leasing , Apartment Jobs , Apartment Industry , Apartment Community Website , Apartment Community , Aparments for Sale
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Getting ready to purchase or sell property? The first step to a smooth real estate transaction is finding the right real estate agent. Throughout the property selling and purchasing processes, your real estate agent will be your eyes, your sounding board, and your advocate. Here are some things to consider when selecting your real estate agent.
Referrals from Trusted Sources
Nothing is a better testament to a realtors ability than a proven track record. Ask friends and associates for agent referrals. It’s particularly helpful to speak with trusted sources whose situations are similar to your own. For example, if you are looking to purchase a multi-unit investment property, seeking referrals from other multi-unit investors may lead you toward a better match than asking someone who used a realtor to sell a single-family dwelling.
Trust yourself too. Try visiting some open houses and meeting agents one-on-one. Open houses will give you the opportunity to meet a variety of agents and to get a feel for them, the properties they work with, and how your personalities mesh.
Online Resources
You can further narrow your search by doing some online research on sites like Yelp and Realtor.com to identify local realty companies and specific agents respectively. Also be sure to check out ActiveRain, a social networking platform for real estate agents that provides consumers with the opportunity to acquaint themselves with agents through professional blogs, profiles, and other online resources. Finally, keep an eye on relevant real estate transactions in your area (vis-a-vis local newspapers, web sites, MLS listings, etc.) to see what names frequently pop up. This should give you a good idea of which realtors have specific expertise in your area.
Area Expertise
Particularly in larger towns and cities, it’s wise to find a realtor that specializes in your neighborhood. A realtor’s neighborhood-specific knowledge can assist you with making savvy investments that account for factors other than just the property itself (schools, local amenities, neighborhood culture, etc.).
When it comes to selling your property, a realtor who specializes in your area will have a particularly distinct knowledge of what the neighborhood market is like, comparable recent sales, and winning strategies. While realtors who cover a more wide-ranging area can certainly also obtain this information through industry databases, personal experience within a smaller area will give you that extra edge.
Request a Plan of Action
When selecting a listing agent for your current property, ask potential realtors to give you an idea of the strategy they would recommend for the sales process. Pricing a home is, to some degree, subjective. Some realtors recommend erring toward the lower end of the pricing spectrum to obtain more buyer interest and drive the price upward with competition, while others aim for a higher listing price from the offset. Verse yourself in different strategies, and go with the one that feels right for you. It’s important to have a thorough knowledge of how the process will work before you commit to an agent.
And, of course, always trust your gut. You are entrusting your realtor with a significant investment — aside from expertise and a proven track record, the ideal realtor will be someone you enjoy working with and feel good about as well.
