The Skinny on Real Estate Agents
When it comes time to sell your home, finding a real estate agent can be a daunting task. Who do you choose and what’s the difference? Real estate transactions are complicated, and if you’re like most home buyers, all your assets are on the line.
But all real estate agents aren’t created equal. Some realtors get personally involved every step of the way, while some farm out a lot of the work to other brokers. The amount of formal education a realtor has, the knowledge they have about the neighborhoods you want to buy into and the real estate listings they have access to vary widely.
Many people use the terms “realtor,” “real estate agent” and “real estate broker” interchangeably, but they aren’t all the same. A real estate agent is a person who has a real estate license from the state in which they practice (keep in mind, though, that the requirements for getting a real estate license in most states are pretty minimal). A realtor is a real estate agent who has earned additional certification from the National Association of Realtors. And a real estate broker is a realtor who has yet more training and a different license than either real estate agents or realtors.
For the most part, the exact title of the real estate professional you work with isn’t as important as the level of commitment, energy and local knowledge he or she may have. But trying to find the real estate agent who embodies all the above can still be a challenge. Read over the following tips for choosing a realtor (or real estate agent, or broker) and you’ll be ahead of the game:
- The individual agent is more important than the real estate agency.
- There are lots of real estate agencies listed in the phonebook (and online). But if you pick one at random you’ll probably regret it. Explore the neighborhoods you’re interested in buying into and look for realtors/brokers nearby.
- Search for real estate agents, not individual homes or properties. You may be looking through your newspaper’s real estate section one day and fall in love with a home that a particular real estate agent is listing. However, the agent might tell you that property is taken, but they have others you’d love. Less reputable agencies will often use this bait and switch trick to lure in customers.
- Look for commitment. Many real estate agents only practice on a part-time basis and they might not have the time or drive to give you the attention you deserve.
- Ask friends to refer you to real estate agents they’ve had good experiences with.
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