Considerations when choosing your real estate agent
Wednesday, 23 April 2014, 11:35:38 AM
Most people assume that working with an agent who lists a lot of houses (i.e. “to list”, is real estate lingo for the selling side of the transaction) would make for a great buyer agent. In some cases that might be true, but in my experience, agents who focus primarily on listings don’t always make for a great buyer agent.
So, why is that? In general, agents who list a lot of houses, focus just on that… listing houses. They might work with potential buyers that come from these listings, but make no mistake their focus is listings and to service their sellers. The main reason for this is that listings are a great way to promote their name and you guessed it… get more listings. Working with buyers, especially in today’s seller’s market, takes a lot more time, energy, and dedication than servicing a listing.
So where do you think this listing agent is going to be spending the majority of their time and efforts? That’s right, the sellers! To some busy listing agents, buyers often don’t get the attention they deserve. In today’s hot seller’s market, it’s now more important than ever to have an agent who’s dedicated and committed in helping you find your next home. So, when interviewing agents, ask them if they prefer working with sellers or buyers. Also, ask them what their “split” is (working with buyers to sellers). That will give you a good understanding as to what type of business they have and where their dedication lies. I don’t think you should necessarily work with a buyer-only agent, but an experienced agent who works with a healthy mix of both buyer and sellers might be your best approach.