Photo: SMRPHOTO (Shutterstock)
There are tons of things you can do on your own without professional help. This website is full of them. One thing you should not try to do by yourself, though—especially as a newbie—is buy or sell a home. There’s a lot of money on the line here and a lot of things you, a regular person, do not know about this process and are not authorized to do. Selecting a Realtor or real estate agent is a task you can handle on your own, and it’s arguably one of the most important parts.
What is the difference between a Realtor and a real estate agent?
A real estate agent has a real estate license. A Realtor is a real estate agent who is an active member of the National Association of Realtors. That’s the difference there. To get into the NAR, a real estate agent has to have a valid license and a great record. Once inside, they have to adhere to an ethical code, but beyond the assurances that can give buyers and sellers, there’s also an element of clout to being involved with the organization. But a real estate agent who isn’t in the NAR can still be great. In fact, they have to be if they ever want to become a Realtor.
You should focus on the specialty you’d like your agent to have. Listing agents help you list a home, buying agents help you look for properties, and rental agents can help you find a rental unit. According to Zillow, 85% of sellers say that an agent’s ability to find interested buyers was very or extremely valuable to them while 80% said the agent’s ability to guide them through the selling process was. Dealings in contract negotiations also appealed to 80% of sellers.
Decide what you want
You have to be certain not only of what you want to achieve—buying or selling a home—but all the details around that, though they may be subject to change. You also have to go into the search for an agent with list of what you’re looking for in a potential partner in this endeavor. Do you prefer phone calls to emails? Do you want to meet face to face and go to a bunch of showings, or do you want to be able to rely on this person to select the ones that are most appropriate for you to see?
Having a strong sense of what you want is important, but you also need to be open to suggestions from an agent. They might see something you don’t in your plan. They could find a home that’s perfect for you, but not in the neighborhood you selected. They could have experiences that give them insight into why something on your “must have” list isn’t such a great idea for you or your family. You never know and it doesn’t hurt to hear them out, but having a predetermined list of what you do want is a key starting point.
Compare and contrast agents
There are quite a few agents out there, and if you live in a densely populated area, there will be a ton around you. Call a few and have some chats. Go into the conversation armed with knowledge. Explain that you’re looking to sell your home or where you’re hoping to buy one, what you’ll use the property for, whether you’ve already been pre-approved for a mortgage, and what you’re looking to make or spend.
Talk to as many agents as you can or want to. This is someone you’ll be working closely with for a while, so you want to make sure they understand your needs and constraints and are someone you can personally get along with, too. You have to explain who you are and what you’re looking for, but also gauge who they are and what they’ve accomplished. Ask how long they’ve been working in real estate, whether they tend to work with buyers or sellers, and whether they’ve worked with someone like you before. Hell, ask them for references.
You can look at reviews online, too. Zillow has an agent-finding tool or you can use another one like RateMyAgent. Check reviews across websites like Google and Yelp.
Ask your friends and family members for referrals, too. An honest review from someone you know is always really helpful. And when you are done buying or selling a home, don’t forget to refer your agent to your own contacts if they did a good job.
