Choosing a Real Estate Agent

By Fareen Effendi | March 15, 2012

Are you in the market to buy or sell a home, and are now looking for the perfect real estate agent? Since the process of becoming an agent is fairly easy (in most states a real estate license can be obtained with merely 40 hours of instruction) – it’s a good idea to do your homework before choosing.

Choose your real estate agent carefully © Monkey Business - Fotolia.com

Here are some key things to look for when selecting an agent to handle your buying, selling and investment needs:

Absorption Rate

How many homes do they sell in any given month? What is their average in a given year? The more time an agent devotes to the profession, the more you can count on their experience and knowledge to support your real estate needs. Ask the agents you are considering for information about their absorption rate.

Marketing Style

Find out what the agent’s preferred style of marketing is – whether proactive or reactive. Proactive agents are the ones that will go out and get your home sold rather than wait for someone to respond to your listing. The best real estate agents are the ones that actively engage in fulfilling your requirements.

Time and Money

As a seller, two very important aspects of the process are how long it takes to sell your home and how close to the asking price the home actually sells. Ask the agent you are thinking of hiring how close they typically get to the listing price and also request client referrals to corroborate that information. Next, find out the average Days on Market for homes they have listed. If this figure is higher than the industry average for your area, think twice about hiring this agent.

Past Client Experiences

Anyone can generate a list of references but the key to checking out your potential real estate agent is to find out how the most recent clients would rate their experiences. Request a list of the ten most recent real estate clients serviced by the agent you are considering hiring, contact each one and find out how their experiences compare to your standards.

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There are a plethora of real estate agents to choose from so it is best to itemize your priorities and then seek the one that meets all or most of those requirements.