What to look for in a good real estate agent?
Sunday, 2. May 2010
My dad is a public school teacher but he became a millionare investing in real estate. His advise is to hire the “youngest and hottest real estate dame in town”. He says they get more people interested in their properties and they are harder to say no to when working through a deal. He sounds like a pig to me on this one but it has worked for him. Any one with experience on this one because I need to find a good agent.
Liza Says:
I found my agent through a coworker. I would recommend asking friends, coworkers, and family members and see if they can recommend a realtor that they had a good experience with. I would choose a realtor based on personality rather than looks. A realtor can be homely, but they have to be a people person in order to be successful.
Pepijn D Says:
I do not have experience in this… but I read a book entitled Feakonomics by Steven Levitt an Stephen Dubner. In this book it explained why we should have an agent like you father had.
Here are the basics of earning a few extra dollars on the purchase of a home. (sounds strange: but on any investment, the profit is made on the purchase of a deal).
Work to find an agent who is an excellent salesman/woman.
—-like your dad mentioned.—
Then write up a contract on the side that states that if they get you into the home for 20K less than the asking price you’ll give your agent an extra 5k. If he/she get you in for 40K less you’ll give him 10K. etc. etc. (make it realative to the ammount you save) Because you are going to pay him/her anyway… this will have to be done on the side so that they will work hard for you and not their realtor. This process will save you 15K or 30K and give the agent more will power to work to get YOU that great deal.
Be sure you write this up outside of their contract with their Realtor, just to insure that your agent gets the full 5K or 10K and not just the typical 2%.
I hope this works for you.
krisjb1 Says:
That is pretty ridiculous. Although it is true that people like to look at good looking people more than they like to look at unattractive ones, when it comes down to it they are not going to buy anything they don’t truly want to buy just because the agent is attractive. And the youngest agent is not likely to be very good either because practice makes perfect in representing clients well. I am a real estate agent/broker, but before that I was a consumer who had purchased 4 houses from agents who weren’t young or hot. I like to feel that an agent is interested in my needs and is totally involved in real estate so they not only know what is on the market but also how much it is worth-a go getter.
Searchlight Crusade Says:
There are no silver bullets, either for listing agents or buyer’s agents. Buyer’s agents are easier – just give a few of them non-exclusive buyer’s agent agreements, tell them what you want, and the one that finds the place you want gets paid, while the others don’t.
Listing agency has to be exclusive for a time, so that’s harder. I’d build a downwards sliding scale of compensation in, both with value and time, and require an agent to agree in writing to release you from the listing agreement if they suggest a price drop. The number one scam agents pull is “I can get you a million bucks” for the property, then within a couple of weeks they are pressuring you to drop the price – after you’ve wasted the time of highest interest in your property. Most folks have deadlines they need to sell by, and agents who price the property right in the first place are far likelier to get your property sold for a better price.
Karen R Says:
Yep, he’s a pig.
Ask people you know. You will find the best agents by referrals from friends, co-workers and neighbors.