How to Find a Real Estate Agent
Dependable Agent = Results
The key to making your investment processes smooth and reliable is a dependable agent. There are many sources you can use to find a quality real estate agent that can work with you to help obtain the best deals on foreclosure properties. Here are some key factors to consider along with steps to find an agent that you can develop a long-term investment relationship with.
Online Resources
There are many directories online to locate real estate agents who are looking to work with buyers. However, the quality of the sources varies greatly. As you are looking for an agent, do your research before making a commitment and consider the following factors:
- What real estate company do they work for? Is it successful, a top-rated company?
- Where is the office located? Try to find an agent who is near you if you are hoping to establish a long-term working relationship.
- How much experience do they have?- When working with foreclosures, a realtor who has experience negotiating these sales is a must.
- What do customer testimonials say? - These are wonderful tools for getting an honest, personal view of someone’s experience with this particular agent.
REALTORS®
Realtors® are individuals who have been licensed to sell properties and belong to the National Association of Realtors. These individuals have committed to follow a code of ethics and a higher level of performance. While there are many Realtors®, nearly half of all real estate agents are practicing independently. Be sure to ask when you are interviewing prospective candidates.
Open Houses
There are many advantages for investors when they attend open houses and meeting with agents is one of them. These functions offer excellent opportunities for you to talk with different real estate agents and get a better understanding of their work style and ethic. Watch how the agent works with prospective buyers.
- How do they interact with the sellers?
- What priority do they give to the property?
- Are they knowledgeable?
- How active are they in presenting the home?
- Are they eagerly pulling people in or are they standing and observing from the sidelines?
Referrals
The best way to get a good idea of how a real estate agent performs is by talking with some of their clients. Real estate agents who put customers first and ensure quality interactions have customers who are happy to talk about their experiences. Listen carefully when clients describe their experiences with their agent. Did the agent make the experience personal, or just treat the client as another sale? Was the agent knowledgeable and efficient? Did they go above and beyond the expectations?
You can also ask for referrals from other real estate agents. Foreclosures are a special category that not all agents are qualified to work with. If the agent you talk to is not experienced in foreclosures, ask them for a recommendation of someone who is. They will be able to identify the “best of the best” in their company.
Track Yard Signs
As you are going around neighborhoods to survey properties, take note of when signs are placed in yards and which agent is in charge of the property. When you see the property is sold, make note of that as well. You may see a pattern for certain agents. Some of them may clearly sell properties faster than others. This is a sign that the agent takes the extra time and initiative to spread the word about an available property and work with potential buyers to close a deal in a timely manner.
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