What to Look for in a Realtor

May 28, 2014 Marc Edelstein FHA mortgages in Michigan, First Time Home Buyers, Michigan Mortgage Banker, Michigan Mortgage Lender, Oakland County Mortgage Banker, Wayne County Mortgage Banker 0 Comments

What to Look for in a RealtorWhen looking to buy or sell a home, it is important to pick the right Realtor. Some are better at selling homes, others at helping you find a home, and still others are not better at either. Clearly, a referral from a friend who recently bought or sold a home and got a great deal is the best way to find an agent. But if you don’t have a referral from a recent transaction, here are some things to look for.

Experience. Now, obviously I mean this in terms of “how long have you been in the industry,” but this really goes far beyond that. If an agent has been a buyer’s agent for 20 years, that does not necessarily make him equipped to be a seller’s agent. If a Realtor just took a three year hiatus, how relevant is a bunch of old experience in the industry? If a Realtor primarily works in Ferndale, will they understand the intricacies of the marketplace in Northville? These are the questions you want answered; if I were looking to buy a new house, I would take a three year agent who specializes in helping buyers in the area I want to live in over a twenty year veteran who acts as a seller’s agent on the other side of town.

Team. Not all great Realtors are on a team, and not all Realty teams are great, but you usually get more from a team. It is nice when you are selling a house and buying a new one, for instance, to have a specific agent who specializes in selling homes to help you sell and another who can help you negotiate as a buyer. Teams also usually carry more clout in the community, as they work on more deals.

Real Estate Firm. You want to look into the brokerage firm your Realtor works for. Realtors working for larger firms often have large networks, allowing you to get insight into the sticking points for potential buyers or sellers. In addition, larger networks can mean you have access to potential houses or potential buyers before anyone else. That being said, some smaller firms also have their benefits if they are a staple in your community; either way, it is important to know who will be working for you.

Trust.  Trust is huge. If you meet with an agent and feel that something is off, run away! The agent may be great, but you will always wonder if you are being taken care of. You need to trust the advice of the Realtor you are working with or you will miss out on opportunities.

I hope these tips help you find the right Realtor; but before you do, make sure you know how much house you can afford. And that’s where I come in, just contact me and I will get you a preapproval letter. If you have any other things to look for in a Realtor, please leave a comment.

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