Follow these simple steps to find an honest real estate agent and distinguish between the good from the bad.
Step 1: Look to the past. What are the agent’s actual results?
Agents can buy ads online, list their properties, or even insert testimonials. However, you’re missing out on the whole picture if you only look at an agent’s online presence. Results are a great way to determine if an agent is effective. A company’s past success is a strong indicator of its future.
Think about the factors that are most important to you before hiring a realtor: sale speed, ratio of sales to listing price, and knowledge of your neighborhood. What is the speed of sale for homes sold in your neighborhood? Did they sell at the list price or more than that? Use the results of an agent to help you narrow down your search once you’ve determined your top priorities.
A realtor’s sales history will show all of these qualities, but how many people have the time to sift through months of listings?
Realpro NJ, for example, can do the work quickly and efficiently. The agent matching platform offers personalized agent recommendations based on the top-performing real estate agents within your locality. Tell us about the property you’re looking to purchase or sell. We will run a search, analyze data, and check reviews to provide up to three qualified and relevant agents in two minutes.
This powerful tool uses data to analyze millions of sales in order to identify the top-performing agents. The tool’s results are not based on shady surveys, testimonials submitted, ranking systems that pay for rankings, or recommendations from friends. They’re based solely on how well they serve their clients. You can browse agent profiles and read the results quickly and easily with this tool. Click “Find an Agent” and enter your location to begin.
Step 2: Look at the now. Is the agent engaged in the current market?
Successful agents are those who actively list and sell now. They will have a pulse on the current market and updated strategies and skills to help buyers and sellers connect. After narrowing down your list based on their past successes, look at the current pipeline of agents.
Finding an experienced agent is even more crucial, especially in light of the current economic climate. Inflation and high mortgage rates are still problems for the market.
Mattes recommends that sellers “look for active agents” who “have a business flow that can be seen online.”
Are there any pending sales or listings? How many sales have they closed in the past few months? You can see the market’s activity by looking at their profiles online.
Step 3: Interview at least three designated top agents
Take the time to meet and interview a few great agents in your locality. You may be speaking to your agent several times per day once you have decided to sell or list. It’s important to establish a rapport with the agent and communicate clearly. Pay attention to the way they react when you interview them.
Do you answer your questions using concrete and factual information? Agents who give vague responses should be avoided. It is important to find an agent who can give you a clear answer.
You can tell if they know your local market by their references to the recent property value changes or mentions of a new supermarket opening in the area. Good agents are aware of the changes that affect your property’s value.
Step 4: Ask agents the right questions
You could ask agents more than twenty questions in order to find out if they are the best fit. If you are short of time, these five questions will help.
Q: What is your “days on the market” average?
Realpro NJ provides local DOM information for cities across the nation.
At the top, you’ll see a list of popular cities. Below that are cities from each state, scroll down to find the graph with “days on the market” numbers. Also, you’ll find more information on what the top agents in your area can do.
Q: How many homes have you sold in the past 12 months?
James Silver, the top agent in Detroit, Michigan, who sells 76% more homes, says that a team of real estate agents should be able to sell 200-300 homes annually. According to him, a reasonable number of homes for one agent would be between 30 and 50. The range will differ for other markets, so you should compare the agent’s sales to what is expected in your area.
Q: What is your sale-to-list price ratio?
This percentage is the final sales price divided by the previous list price. Positive ratios indicate that the agent sells homes at a higher price than their listing. Search for agents with higher ratios of sale-to-list price than the average.
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