Ten Tips for Selecting a REALTOR

Tue, 25 Jul 2006 11:58:04 -0700

10 Recommendations for Choosing your Licensed Professional Real Estate Agent.

As a prospective homeowner, selecting the right real estate agent is critical. Your REALTOR^® will keep you abreast of this rapidly changing industry, swings in market conditions, and the availability and demand for property inventory in Monmouth county communities such as Colts Neck, Long Branch, Little Silver, Rumson, Spring Lake or Belmar. Your agent also guards your legal interests (along with your attorney) when facing tough negotiations or confusing contracts.

The safest way to hire a strong real estate agent is to interview more than one specialist.

Here are 10 tips to guide you:

Identify at least three licensed real estate professionals.

Look around your neighborhood. Do you see realtor's signs? Call these realtors and arrange interviews.
Use the Internet. It's easy to search for a REALTOR® using your favorite search-engine.
Ask a neighbor or friend. Who helped them buy their home? Which real estate agent in Monmouth County would they hire if they decided to buy in Sea Bright, Shrewsbury, Fair Haven or Oceanport?

Interview the real estate professionals you have identified. Having a conversation with the person is a good way to find out if your personalities and goals match. Here are things you want to ask:

"Are you a REALTOR^®?" You will have the best luck finding the right home if you work with a REALTOR^®, not simply a real estate agent. REALTORS are members of the National Association of Realtors. They are generally full-time agents who have committed financially, educationally and professionally to being an expert in the real estate industry.
"How often will you notify me of new listings?" In some markets, houses enter the market and sell within the first hour. You need a REALTOR^® who is serious about finding a home you'll love. Buyers should expect to hear from their agent whenever a home matching their description appears on the market.
"How often can I expect to hear from you?" Just because your dream house isn't on the market yet doesn't mean you won't have questions. Be sure to work out an arrangement with your REALTOR^® from the beginning.
"How quickly can I expect you to return phone calls?" You don't want to be ignored. If the REALTOR^® doesn't have a callback policy ("You'll hear back from me within two hours/30 minutes/before the day ends"), you may not get the service you expect.
"Are you a full-time professional REALTOR^®?" "Hobby agents" aren't as capable of meeting your expectations because their attention is divided by other responsibilities. Limit your search to full-time real estate agents.
"Who will you represent in my real estate transaction?" The REALTOR^® representing you may be a subagent for the seller (not what you want as a buyer). Find an agent who can truly represent your interests without having to bow to another client. You may want to consider hiring a Buyer's Agent.
"Will you give me your honest feedback?" Avoid "yes-men." If you can't find your dream house because it simply doesn't exist at the price you've quoted, you need more options. When you find a strong Monmouth County real estate agent, you get more out of each meeting.
"How long have you actively worked in the area?" While the answer to this question shouldn't necessarily be a deal-breaker, a Monmouth County REALTOR^® who has worked in the area a long time may be more aware of properties that match your description.

Compare interview notes. Think about each agent, and decide which one is right for you. You should choose someone aggressive, but who doesn't make you feel anxious or pressured.

Experience pays. Experienced real estate agents in Long Branch, Deal, Little Silver, Ocean Township, Rumson, Sea Bright and throughout Monmouth County often earn designations that separate them from the pack. These designations are earned through training that helps the agent become a specialist in certain areas. Pay attention to agents who have designations listed after their names on business cards. Specifically ask the agent what each one means.

Find a Monmouth County REALTOR^® who is savvy about technology. Through the online tools available to agents these days, you can expect nearly immediate e-mails about new property listings and quick replies to your queries.

Ask for references from your REALTOR^®. This shouldn't be a big deal; it's a last-step investigation that could confirm or reject your impression of the agent.

Before signing a contract, know that the term "Disclosed Dual Agent" often means that the real estate agency does not represent your interests 100 percent. Try using a Buyers Agent to represent you.

Buyer agency agreements are common, but be careful. What if the Realtor doesn't follow up with you? What if you don't get along? What if the agent doesn't understand your needs? Remember that a buyer agency agreement is negotiable, and you can help negotiate the specific terms.

Select a strong negotiator. Ask your Monmouth REALTOR^® whether he or she has ever been in a tough negotiation and how he or she negotiated a fair price.

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Ten Tips for Selecting a REALTOR