Thursday, June 06, 2013

Not Created Equal...

Not all licensed real estate agents are created equal. And for good reason.  Not all sellers and buyers are created equal nor do they have the same needs and expectations.  I am saying this because over the past few weeks, as I have attended listing appointments, sellers in particular have been surprised that not all agents do the same things or have the same designations.

First, not all licensed agents are Realtors.  Realtors are members of a trade association that take real estate ethics to the next level.  All agents should abide by real estate law, but the Realtor association lays down an additional layer of ethics through their code of ethics and their adherence to the Golden Rule. In my humble opinion, using a Realtor, asking if your agent is one, and knowing the difference, is pretty important.

Not all companies use a showing service to set appointments.  Make sure yours does.  Nothing is more frustrating to a buyer and a buyers' agent than wanting to see your home and not being able to reach the listing agent or anyone at their firm.  Hire an agent whose company subscribes to a showings service that is open 7 days a week and 364 days of the year. Lost showings are lost offers. Period.

Not all agents in the same firm use the same marketing tools.  Ask when interviewing what your agent is going to do for you, that other agents both in their firm and outside their firm are not going to do.  You want to choose an agent who invests in their brand and business. Agents who have "skin in the game" treat their business like a business and have incentive to sell your home.

Agents do NOT get paid a salary.  We make money only when we sell a home. For the most part we are all self-employed, independent contractors who run a small business under the umbrella of a larger firm.  Usually we pay the firm to work under that umbrella.

Not all agents are FULL-TIME.  Your should be.  You need someone who works on a daily basis and understands the full-time nature and access to availability that the real estate industry demands.  Ask during your interview how much they are in the office and how many hours, on average, they work a week. If they stumble on that question, then they probably don't have a business-plan for their own business and might be challenged when it comes to a marketing plan for your home.

Not all commissions are the same.  There is NO STANDARD fee. It's all negotiable.  However, make sure you know what you are paying for because usually you get what you pay for.  If your agent has a difficult time protecting their fee and income, how do you think they are going to fare on your behalf when an offer comes in and they are negotiating YOUR equity? 

If you have specific questions on interviewing the right agent for you or if you would like to set up an interview please give us a call 336-817-3598 or shoot me an email.  brooke.cashion@allentate.com

Brooke

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