5 Tips for Finding a Real Estate Agent

Licensed real estate agents, independent real estate brokers, and realtors (who are licensed real estate agents that are members of the National Association of Realtors) work to facilitate the legal and financial processes of a real estate transaction. Real estate specialists are responsible for a number of tasks including finding potential buyers for your home, helping with pre-approval from mortgage lenders, drawing up listing agreements, scheduling home inspections and appraisals, opening escrow accounts, and negotiating property pricing and closing costs. Real estate salespeople work on commission for the sale, which means they are incentivized to sell the property expeditiously and in a way that benefits their clients.

Working with a real estate salesperson can streamline the property exchange process, especially for first-time homebuyers. Here are some tips for finding the best agent to help you buy a new home, or help current homeowners sell their homes.

1. 1. Research locations first. If you’re looking to start the home-buying process, research the comps (or comparative properties) in your desired area. It’s best to enter your agent search with a sense of the neighborhoods and home styles that appeal to you. Is walkability important to you? Access to green spaces? A good school system? Are you into Georgians, Tudors, or contemporary-style homes? Determining some of these things ahead of time will allow you to hire a local agent who can steer you in the right direction. For home sellers looking for a listing agent, you can look up the current listing prices in your desired neighborhood, as well as any recent home sales to get a better idea of the average list price range of that particular real estate market. Once you choose a real estate agent, they will give you access to a multiple listing service, which is a search engine for homes in a particular area.
2. 2. Ask for referrals. If you have family members or friends who’ve purchased homes in an area you’re considering, speak to them about the agent they hired; if they had a positive experience, ask for an introduction. Alternatively, you can put out a call to your network on social media. Either way, when it comes time to interview the agent, inquire about how much of their business comes from referrals. If you’re selling your home, try to find a dedicated seller’s agent. If you’re buying, look for a person who has a specialty as a buyer’s agent.
3. 3. Interview three or four agents. Interview a few agents through referrals and a few whom you find via previous local sales. Oftentimes, people go with the first agent they meet; that agent may ultimately be the best, but it’s preferable to compare and contrast a few. Ask for a list of their recent sales and referrals, and reach out to past clients to hear about some in-the-trenches experiences. You may even find a brokerage you like and interview multiple agents from the office.
4. 4. Make sure they’re experienced. Real estate is an apprenticeship business; agents start out working under savvy veterans who share knowledge and connections. If an agent doesn’t have a few years of experience, they’d better be part of a team led by experienced agents who can support and guide them. This doesn’t mean you should go with the oldest agent you interview—experience is a matter of how many homes an agent has helped buyers buy or sellers sell in the neighborhood you’re targeting, so find out what they’ve bought or sold.
5. 5. Check their references. When you’re making a large financial decision like this, you want to know exactly the kind of person you’ll be working with and their track record. If you like a particular agent, ask them for references from previous clients and be sure to check them thoroughly. Look at any relevant websites or online reviews that can give you a better idea of their work ethic or indicate potential red flags.

Asking the right questions can determine who you choose to work with when you’re finding a new house. To ensure you’ve found a good real estate agent, there are a few important questions to ask.

1. 1. “What are the biggest mistakes you can make?” Ask your agent what could go wrong in the process, or what mistakes either party can make that would derail or inhibit the transaction. This also gives you a sense of how a particular real estate agent works.
2. 2. “What will success look like?” Ask your agent what a successful journey with them will look like, as well as what failure, will look like.
3. 3. “How are you going to negotiate the best price for me?” Find out what your agent’s approach will be to a potential deal. You want to get a sense that this person will be able to get you the best sale price if you’re selling a home. If you’re buying, you want to make sure that your agent is getting you the best deal on the property according to its market value.
4. 4. “What other advisors will I need?” Find out who else you’re going to need to help facilitate the home buying or selling process, such as mortgage lenders or inspectors, and make sure you ask about your potential agent’s relationship with these other figures. Ask your agent who the best is and why they’re the best.

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