Not hiring a real estate agent when buying a house is akin to self-diagnosing a health condition instead of going to see a doctor. Often, self-diagnosis and do-it-yourself methods in both arenas produce unfavorable results. Without the sheer know-how, connections, and skills of a skilled real estate agent, finding and buying a home can potentially become an unproductive, complicated, and ultimately unrewarding experience. The tricky part, however, isn’t getting an agent; after all, there are nearly 400,000 active in the USA alone. The real challenge lies in finding a good one.
Open houses showcase agents at their best. Retter & Company Sotheby’s International Realty regularly host events for their luxury homes. It is recommended to attend a few events to observe the agents in action – look out for these signs of an expert in their field:
Armed and Ready
It wasn’t raining when Noah built the ark. Likewise, an agent does not prepare their facts after a conversation with a potential buyer. A good agent knows the property, the neighborhood, and the community like the back of his or her hand. It follows that with careful research comes accurate pricing. A good agent can determine how much a property would sell for without underestimating, or worse, overestimating the value.
Their preparedness extends beyond business conversations, as well. The property in their listing is always spic and span for a presentation, for instance. Simple details, such as a balanced temperature, snacks, and drinks, aren’t overlooked as these keep potential buyers comfortable and interested. A good real estate agent is never one to leave destiny to chance.
Client Priorities vs. Personal Incentives
Agents are often better informed than the clients who hire them: this is called information asymmetry. There are agents who will exploit this information gap and use it to their financial advantage. Legally, they are not allowed to lie, but if no one asks the right questions they don’t need to give the correct answers.
Agents who are more interested in tailoring the experience to the client’s needs, however, keep their best interest at heart. Observe the real estate agent and look for someone who listens intently and offers different cost-benefit analyses for the client’s situation. Look for someone who pushes for the best offer instead of the first, most convenient one.