Selecting a Broker to Buy a Home

There is a great difference in the quality and experience of agents in the marketplace. The realtor population has an attrition (turn-over) rate of over 80% every two years. If someone survives two years in the business, it is a good start EXCEPT during the past 3-5 years the agent population has increased two and a half times. Simply stated the average agent in the business today is new to the business. Most of them have never experienced a “Buyer’s market. For the past five years they have been order takers in a marketplace where multiple offers were common-place.

As market conditions change and become more normal, a large number of these agents will, unfortunately, fail in the business as our industry statistics indicate. What does this mean to you, as a buyer? It means, more than ever, that you must carefully select the agent who will be representing you in the purchase of a home. Really examine their qualifications and look for an experienced agent with a good track record of representing buyers in your chosen marketplace.

The following is a list of “qualifiers” for anyone you may interview to hire.

AGENT is experienced and successful and has been practicing for at least 10 years.

AGENT invests annually in professional training/coaching/continuing education.

AGENT belongs to, and is active in, local, state and national real estate associations.

AGENT is a “real” Top Producer in his/her local real estate association.

AGENT has a very high career sales volume.

AGENT consistently works and volunteers in your area/neighborhood.

AGENT represents a lot of buyers every month in your home’s price range.

AGENT sells a large number of homes every year.

AGENT currently has only a few committed buyers with whom he/she is working.

AGENT enters into a buyer-broker contract to represent you.

AGENT is a buyer specialist.

AGENT knows the inventory in your area of interest.

AGENT previews homes before showing them to you.

AGENT knows neighborhood amenities and special features.

AGENT is technologically savvy.

AGENT e-mails you new properties, as soon as they come on the market.

AGENT is E-certified.

AGENT will provide you with digital photographs of homes you choose.

AGENT has good relationships with other agents.

AGENT pro-actively seeks out homes not on the market to show you.

AGENT makes sure you are pre-approved for a loan before making an offer.

AGENT provides an intranet for you to track the progress of your transaction.

AGENT has a website that is fully interactive with local MLS.

AGENT has a superior team.

AGENT employs a transaction coordinator.

AGENT employs an office coordinator.

AGENT provides you with comparable sales information.

AGENT counsels you on a purchase price based on the comparables.

AGENT provides extended telephone and office hours, if needed, to accommodate your  

            schedule.

AGENT answers phones live or returns calls within 10-15 minutes.

AGENT has a communication system in place to keep you informed and up-to-date.

AGENT has a list of reliable inspectors, painters etc. to serve you.

AGENT negotiates well and writes a good contract that protects you.

AGENT negotiates repairs effectively for you.

AGENT makes sure you meet all important time frames in your contract.

AGENT is available to you for frequent visits to your new home during the transaction
            process for measuring, showing friends and relatives or for any reason.

AGENT provides you with 5 or more testimonials from RECENT past clients.

AGENT provides you with his/her resume.

AGENT provides an easy exit agreement if you are not fully satisfied.

Choosing the right agent is the most important step in the purchase process, so BE SURE to qualify and hire the right agent. Willingness and enthusiasm are engaging, but there is no substitute for experience and a solid track record.

The right agent will save you money on the purchase price and all of the services required to complete a transaction.

The right agent will, also, have established relationships in the brokerage community that can help dramatically in producing inventory not listed and getting your contract accepted.

Good agents like to work with good agents, so it gives you an absolute “leg-up” when an agent knows you are represented by a good agent. When working with a top agent and there are multiple offers, you will get much higher consideration from the other agent. It is not unusual for that agent to suggest to a seller that you are represented by an agent with a great reputation and one who only works with qualified buyers. That one factor can make the entire difference in you having your dream home. Best of all, it doesn’t cost you anything more to have the best.

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