First Time Home Buyer Archives | Page 6 of 6

Buying a home is one of the most exciting times of most people’s lives. Choosing the right real estate team is essential in making sure the process runs smoothly and you end up in your dream home. If you do not do your due diligence before hiring your real estate agent you can end up having an agent that has terrible communication skills. This could cause you to be the middleman throughout the whole buying process and will make your buying experience exponentially worse. A bad real estate agent lacks the communication and personable skills to successfully close a deal. They do not understand their services are customer-oriented and can not elaborate on delivering property updates on a timely basis while maintaining a direct and open environment that a buyer or seller can communicate freely on. It is necessary to have an experienced real estate agent when you are buying a new home in order to go about living your life without having to worry about dealing with the stress of being a middleman between yourself and the buyers/sellers. In order to avoid having an inexperienced and untrustworthy agent, perform research on the history and reputation of the individual before hiring them. A Reputable Online Presence Real estate agents understand that having a presence on the internet is a great way to showcase past successful closings and generate new leads. You should dedicate time to analyze these posted accomplishments to get an idea of how qualified they are to perform the tasks at hand. The agents fit into one of two categories, independent agents and those who work for a company. Real Estate Agents Who Work Independently These types of agents should have a website to highlight individual achievements within their announced area of expertise. You can search through their website to see other properties they closed on prior to working with you and educate yourself on the reviews of their past clients to see if concerning activities are listed. Real Estate Agents Who Work for A Company Real estate agents that work for a company still have a profile there can be accessed. However, it may require a little more time navigating around the company's website. A few important aspects to look for are: · Customer Service Awards · Certifications · Resume or Portfolio People have mixed reviews about which type of real estate agent you should consider hiring because each one can perform duties successfully. Some benefits of working with a real estate agent who works independently are: Local - When agents live within the same area that you are looking to buy or sell a property, they have advanced knowledge of the location because they see it firsthand every day. They also can fill you in on school zones, traffic congestion, and other market data for the region. Lower Costs - Some independent real estate agents are known to charge less to provide their service. Some benefits of working with a real estate agent who works for a company are: Company Information – A real estate company has certain valuable expectations from employees, and they have a hiring process. Therefore, there are certain qualifications that need to be met to even apply for the position. Certifications - The company has its own reputation to look out for and grow, so you know they only accept certified professionals to work for them. The benefits associated with the two types of real estate agents vary among locations and are subject to change. Nevertheless, the negative qualities of a bad agent should not be overlooked. Negative Qualities to Look Out For A huge characteristic that very successful real estate agents have revolves around having excellent communication skills. However, this attribute can be overthrown by possessing negative characteristics. A few to look out for include: Unresponsiveness When you are buying/selling a house, it is typical to try to move forward with the closing process within 5 to 7 months, or as soon as possible. During this time, it is normal for individuals to stay in touch with their agents on a regular basis because they simply want to make sure that their house or property is being posted for people to see. An experienced real estate agent knows this and should be aware that new clients are going to have a lot of questions to ask. If your agent is unresponsive, they obviously lack proper communication skills, and you might want to start considering getting a different agent. Poor Listening Skills The agent treats you as if you are additional paperwork and everything you say is in one ear and out the other, his personable skills are questionable. You can only imagine how poorly he listens to potential buyers or sellers on the phone Unprofessionalism Being a real estate agent, it's a fulltime job! You must make sure that this is not your agent's part-time position. Make sure your agent has any certifications to verify that he or she can perform successfully. Poor Research This has to do with market analysis. Your agent should be able to provide locational data regarding where your buying or selling your house. If they can not give you accurate data about the demographics of a region, it is a red flag. If you are even the slightest bit skeptical about your agent’s ability to communicate professionally, get a second opinion and meet someone else. Question Your Real Estate Agent Should Ask As soon as you sit down with your potential real estate agent, you should feel that you have just entered a counseling session. You should feel confident that your agent will be behind you every step of the way. You'll know the agent is listening if he asked you a lot of questions including: · What is the time frame that you might try to buy or sell your property? · What additions were constructed on the property? · Have you ever worked with another realtor before? · What kind of neighbors are you interested in having? · Tell me about your ideal house or tell me the characteristics of a house that you are looking to buy? · What are your expectations of me? · How often should we be in touch? It is important to understand that a real estate agent is not just a salesman; he or she is somebody who is providing a service. Therefore, your first consultation should feel like a customer service experience. What to Do If You Have A Bad Real Estate Agent There is absolutely no shame in reaching out to another person to become your real estate agent if you feel that the original one you have is not able to perform the activities needed. It is considerate to allow someone with a smaller portfolio to take you as their client and use you as an opportunity as a learning experience, but this is a major process that has significant importance for your future. After all, you may not have the patience or the time to allow this to be a learning experience for an inexperienced candidate. You may want results and to stay up to date on a normal basis with an experienced and certified agent. This is completely understandable, and why shifting your way to hire a real estate agent through a reputable company would be better for you. If you have a bad real estate agent, you should: Switch Your Agent Type - If you had a local real estate agent that worked independently try finding a new one that works for a company and vice versa. Even though you have a mindset of using a certain type of real estate agent, you may want to consider switching. Ask for Assistance - This can simply be reaching out to family members, neighbors, and friends to see if they know of any reputable real estate agents. Leave A Review – It is easy and free to write a review, and it can save people in the future time and heartache from using this real estate agent by shining light on their negative traits. It is unfortunate that you must find a new agent, but you now know what to look out for. Additionally, you might consider viewing if a potential agent has any certifications. Types of Certifications Real Estate Agents Should Have There are many certifications available to real estate agents, but not all of them are necessary for an individual to obtain to receive the title as a real estate agent. The certifications earned by agents show that they specialize in different types of situations that deal with closing properties or houses. Some accreditations include: Seller Representative Specialist (SRS) A real estate has this certification if they specialize in selling houses or properties. It is accredited by the Council of Real Estate Brokerage Managers. It is also recognized by the National Association of Realtors. Real Estate Brokerage Managers (CRB) – It is designed to target owners, brokers, managers, and supervisors with a goal of raising professional standards and strengthen individual and office practices while sharpening expertise in brokerage management. In order to qualify to receive an SRS, real estate agents must excel in coursework that gives different scenarios they might face while trying to close a deal. Furthermore, they must also submit proof of transactions they successfully administered in the past. Certified Investor Agent Specialist (CIAS) This is a type of certification that is obtained to show that you are an agent that can give knowledge and assistance on the value of a house or property now or in the future. They are current with market trends for an area and can be valued greatly by land investors. You may want to or may have already purchased a primary home; however, you decide to purchase an additional house or property, hoping that its value will rise over time. Buyer Representative Specialist (BRS) This is like the Seller Representative Specialist but emphasizes on the buyer side of things. This certification is only given to agents if they went through coursework and provide a list of past closings they successfully had. It is recommended to find a realtor with this certification if you are a first-time homebuyer. Certified Residential Specialist (CRS) This is valuable for a real estate agent to have. It is awarded by the Council of Residential Specialists. It announces that the realtor has more experience within their specialty, has roughly three times as many successful transactions for clients, and has generated three times as much sales revenue than the average agent. Council of Residential Specialists – This organization is the largest affiliate NPO of the National Association of Realtors. They nationally recognize the top 3 percent of real estate agents regarding reputation, the overall amount of revenue they generate, and how experienced they are. Certified Property Manager (CPM) This is a type of certification that is awarded to individuals that understand the complications of owning a property that is rented out. It is given by the Institute of Real Estate Management and provides extensive training in rental properties, collecting rent, and dealing with the repair and maintenance issues of the building. Certified Probate Real Estate Specialist (CPS) These are agents that handle the sales of property which belong to somebody that recently deceased. The certification is administered by the Universal Probate Services. These agents specialize in making sure finances are in-line to pay creditors as well. Universal Probate Services - It is an organization dedicated to helping individuals deal with the stress of having to deal with these types of transactions while in the mourning process. Military Relocation Professional (MRP) This is another certification that is recognized by the National Association of Realtors that primarily focuses on finding properties for people that are currently involved in the military and are moving from base to base. National Association of Realtors (NAR) - It is a North American trade association for those who work in the real estate industry. Members consist of experienced brokers and realtors. Accredited Land Consultant (ALC) The individuals that acquired this certification specialize in helping clients find large amounts of acreage to build a house on within the whole country. These are consultants that have at least 100 hours of training and be knowledgeable on topics relating to the fertileness of the land. NAR’s Green Designation (Green) Real estate agents have the Green certification if they specialize in trying to find a client a sustainable house or a solar-powered mansion. They also stay current on different materials that are used to build sustainable homes. They have the research ability to figure out if advertised homes labeled as sustainable in fact are. Whichever real estate agent you decide to move forward with, always remember that superb communication skills are a prime character trait of a successful realtor.[PD1] How to Avoid Hiring a Bad Realtor After you considered each valuable qualification of a potential real estate agent, take crucial steps during the hiring process, which include: Determining Your Goals There are many different types of real estate agents. There is an abundance of certifications a realtor can obtain, so it is mandatory to know exactly what it is you're trying to accomplish. You may be buying a piece of land or selling a small condo. Either way, there are individuals that specialize in each scenario. Only Settle for The Best Do not underestimate your gut feeling! This is the agent’s career and should be able to make you feel comfortable choosing him or her to become your realtor. You should rest easy at night, knowing that you have an agent that is motivated to find you a buyer or seller. Pay Attention Be aware of how the real estate agent presents themselves. This is the same personable skills that are going to be presented to potential buyer or seller. Anything less than perfect is a red flag and should be brought to the person's attention. If you are currently a real estate agent and business is seeming to plateau out or even decline, you may want to consider reevaluating your customer service skills to grow possible leads and develop a notable reputation.