What to consider when choosing a real estate agent

You have decided to move but now what? Many homeowners are inundated with solicitation from real estate agents. How many real estate agents to you know? Do you use a friend or family member?

The industry is saturated with real estate agents each of which fall into one of three catergories. Many agents are holding a license but are not particularly active in buying or selling. Then there are part-time agents who often have another job and practice real estate on the side. Lastly, there are full-time agents whose sole focus is assisting buyers & sellers with their real estate needs.

My first general piece of advice is this: Don’t feel pressured into using a family member or a friend who has just got their licence. If your friend or family member has what it takes, great! Otherwise, you are doing yourself a big disservice by not hiring the most qualified person for the job.

Specific strategies for selling your home:

Interview at least three agents. Talk to people who have experience in your neighbourhood and understand the nuances of that specific market. When interviewing, go beyond statistics and track record; rapport and comfort level are key.

Ask specific questions about their strategies to market your home: A competent agent will be able to confidently speak about the way they work, with specific reference to how they will market your home.

Ask for references from previous clients in your neighbourhood: Homeowners rarely ask for references from agents. 

If you interview a team, how are they set up? Will you be working with them, a member of their team or the whole team? Not all teams are set up the same way. Make sure you know what you're getting and are comfortable with that.

What list price have you been given? The highest doesn't always mean the best. All real estate agents have access to the same information and should all be in the same ballpark when providing a list price. Be wary if an agent comes in a lot higher or lower than the others.

Finally, cheap doesn’t equal good: Many sellers today are concerned only with the fees they are paying an agent. In our opinion, the old adage of “You get what you pay for” extends to real estate services.

If someone is offering a discounted rate, ask what they will be offering co-operating brokers (i.e. buyer’s agent). Are they offsetting their discount to you by offering less to the co-operating broker you may not get motivated agents wanting to show and sell your property. Find out what other aspects of service are being sacrificed by offering discounted services. Here are a just a few things to consider:

· What kind of marketing materials and tools will be used? (Brochures, postcard delivery, website, etc).

· Will they be hiring a professional photographer/videographer, or taking photos themselves using a smartphone or point-and-shoot camera?

· Will they be providing staging services and/or consultation?

· What are the office hours to handle inquiries and appointments?

Whichever real estate agent you choose in end, make sure you do your homework and figure out what services and what qualities are important to you.