What are best qualities of a good real estate agent?
Best Answer
904 points
jillybeansisme answered 10 months ago …
A good agent LISTENS and then figures out what you really want/need and shows it to you or does it for you rather than throwing stuff in the air and hoping it will stick. A good agent will educate you on what's going on in the market now and how it pertains to you and your situation. A good agent will not allow you to buy more than you can afford. A good agent will help with your due diligence, even if it is just to refer you to professionals who know what to look for in an inspection.
The list goes on.
Answers
192 points
seyobnats answered 10 months ago …
I agree with jillybeansisme about all the qualities she has enumerated, but there are a number of factors I should add as it sometimes depends on whether you are buying, aelling or both.
NEVER expect your friend or relative who is "in the business" to be of much more than perfunctory help. Their priorities are seldom yours. They think you want to do the transaction "on the cheap" so they won't expect to make their usual commission due to being your friend or relative.. The best you can hope for is that they will act as "listing broker" and not much else because they think a "half-commission" is better than none so they list you on MLS and wait for someone else to do the sale so they get their cut. Even if they aren't a friend or relative the business is full of "listing seekers" only. They will take your listing, get you to sign a contract and you never hear from them again.
Before you sign a listing contract you should interview several brokers and after they see the property, ask them specifically what they propose to do for you including providing you with a list of services their agency provides. Will they help you "stage" the property for showing? Do they have a good local knowledge of current market conditions and prices? What about "open house" showings? Does your broker take a personal interest in you as a person? The best "full Service" brokers will not only take your listing but as they put your house on the market via MLS , will throw a "brokers only" open house party for the local real estate community. Does he have a good reputation locally and at nearby banks? How about appraisal services?
Don't try to do a sale "on the cheap" because, like everything else in life, you get what you pay for. A good real estate broker will earn their fees and more. Expect to pay 5-6% commission in most areas.
If you are also buying another house, does your broker have an affiliate in your prospective new area? He will work even harder if he does in order that he can get a "referral fee" from the affiliate if the affiliate is able to satisfy your new home requirements.and sell you a house.
Above all, avoid "Exclusive Contracts" for an unlimited amount of time. Exclusive listings should be limited to 60-90 days and should only be given if you can wait longer than that to move out. In my opinion, if there is no "action" by then they should be fired as an exclusive broker. If there is no action when the listing is "fresh" it is time to have a frank discussion with your broker as to why. Is the price too high? What are customer objections? Are prospects having a problem with financing? Are cosmetic repairs required inside and/or out? What can he and you do to stimulate interest? Is he featuring your property in his adverising and did he make a video of your home to show on-line?
Remember, for most people, buying a house is a compromise betwen needs and wants.The buyer would maybe like a McMansion with a 3-car garage but can only afford a 4-room cottage witn no garage. You get the idea. Good luck! I hope these observations and my experience helps you find a broker who gets you the McMansion at a 4-room cottage price. Maybe it is possible in this market but don't expect it and remember, the Seller always thinks his house is worth MORE! The Buyer always wants to pay LESS!
Most important, make sure your broker is a "Realtor" and a member of local and national "Realtor" associations. Realtors have a code of ethics to which they subscribe. Some are "Realty" agents who buy and sell for their own accounts and are just looking to "flip" your property at the lowest possible purchase price and sell it for much what you really deserve to get. Good Luck!
678 points
BoxCar answered 10 months ago …
Prior qualities mentioned are essentially those of professional realtors, but what I've
found out is more importantly than anything else in buying property is LOCATION.
IF a good home is located in a desireable area, everything else can be adjusted to
make the realtors job to sell or buy a home much easier. No one wants to live in a
crummy area or unsafe area and you have to keep in mind, if you ever have to sell,
you need customers to get a good price (or these days, to just sell the place) Most
people who need a home start by going to the areas they'd like to live in, close to
work, schools, shopping, easy access to freeways, etc. and not under a flight path.
Best buys I've made were when realtor got to know us, our personality, and could
guide us to properties that would suit our preferences, like they listen & understand
4085 points
EthanR answered 10 months ago …
Since I am a Realtor, I think I know a few things about this question. First, I will say that Jillybean's answer is very good, although I'm not sure that I agree with the statement that a good agent will not allow you to buy more than yoiu can afford. What a buyer can afford is more often dictated by the mortgage company, and the customer will be aware of their price limit from what the lender tells them. Often, the buyer wishes to find something even below their level of qualification. But Jilly's first sentence is excellent.
Seyobnats answer is also good, except for the part about the friend or relative. I don't know where he came up with that, and I have not found that to be the case. In fact, a friend or relative is usually more motivated to help you get your home sold or to find you a good deal on one you are buying. The main problem with having a friend/relative list your home for sale is bad feelings could emerge if the home doesn't sell or their are problems during the deal, and then the personal relationship could be strained or even damaged.
As for "listing seekers" that you never hear from once you sign the contract, that most often occurs with companies who charge nominal fees just to get you on the Multiple Listing Service. And Open Houses are basically a joke. Except when the market is red hot, they seldom sell a house. Most of the time an Open House is done for two reasons: 1) appease the seller 2) Listing agent hopes to pick up some new customers who do not have an agent and who do not want to buy the home that is having the Open House. Holding an Open House is NOT the sign of a good agent, although the seller will tell everyone how good their agent is because he/she had the Open House this past weekend.
So what is a good agent? A good agent is all of the things that Jilly and Seyobnats have written, minus the things I questioned, PLUS one more thing. A good listing agent is someone who knows how to MARKET the property well. That means skill in the following areas:
Writing a clear and interesting listing sheet that will attract other REALTORS to show your home to their customers. Customers themselves do not usually see the listing sheets on the MLS unless their agent prints them out and e-mails them to the customer.
Putting a color flyer together that goes into a sign box in the home's front yard. The flyer should have pictures of the exterior and interior of the home, and a nice layout, with clear and crisp information, including price, that can be read quickly and easily. The flyer is to attract customers who are out driving the neighborhoods to look at homes.
As for the agent who is just helping you to buy a home, the main thing to look for is an agent who puts your needs and interests ahead of their own. It's that simple.
