Choosing the right real estate agent

In today’s complex world buyers and sellers of real property should always use a real estate agent. Apart from the more seasoned real estate sale DIY-er who delve in the “by owner” listings, there is simply no reason for a purchaser (especially a first time purchaser) to go it solo. So once the decision to hire an agent is made, you must find the right person for the job. As one could imagine, real estate agents and brokers come in all sort of flavors and the informed consumer must do a little legwork to make sure that they’re getting the best representation. This short guide should serve as a tool to buyers and sellers in finding the right agent.

The items below apply to both sales and purchases:

1. Local gold – find an agent that knows and specializes in your neighborhood, or the neighborhood(s) where you are looking to purchase. Yes, nana’s friend’ son Bobby who lives and works in New Jersey sure is a nice kid, but how is he an expert of real estate sales in Nassau County, New York? He simply isn’t. Find yourself someone who works in the area and is familiar with it. Ask friends and family for a referral, look online, in the local newspapers, and drive around to see what “for sale” signs are posted around that neighborhood. Local agents are always a better choice. They can tell you more about neighborhood real estate trends, values, neighborhood traits, schools and even what watering hole has the 99 cent wings on Wednesday night.

2. Consider a REALTOR and look at their specialty– every real estate agent in NY has to adhere to state licensing requirements, however REALTORs (with capital R), have taken the extra step of being members of the National Association of Realtors and adhere to their code of ethics. When looking at REALTORS make sure you look at their designation. Below are some samples:
a. ABR – Accredited Buyer Representatives
b. CRE – Counselor of Real Estate
c. CRS – Certified Residential Specialist
Take a look at their website for more information. www.Realtor.com. Use these designations to your advantage.
3. Check out their reviews – Look online – Google, Yelp, Zillow, Redfin, Trulia etc, all have rating systems for real estate agents. Make sure you take the time to read some of them and see their experience with the person. You’re not only looking for their performance in their field but also their customer service. The agent might be a superstar, but what good is he to you if he doesn’t answer his calls? Speak to people that have dealt with this agent in the past and vet their experience.

Sales:
1. Take a look at current listings – if you find an agent that you might be interested in hiring, look up their current listings. Check out their open houses and go to them. Take note of how the agent interacts with potential buyers, what their setup and staging looks like; what their printed ads look like and whether they are informative and knowledgeable of the property.

2. Ask for their statistics – Agents should be able to quote their performance. How many houses did they sell; how much did they sell for; how much wiggle room was there on the asking price;; how long did it take to sell;

3. Ask for their strategies – how will they advertise the property; where will they advertise; what information goes into each listing; how many open houses will they hold; will they take pictures; what websites do they use to list the property; ask them to show you samples of previous listings;

4. Multiple interviews – before selecting the agent you will use, interview at least three. Make sure that you note their pros and cons so that you can make an informed decision as to whom to use.

5. Have your attorney look up the brokerage agreement before signing an exclusive. Our firm often reviews and negotiates brokerage agreements for our clients who are selling real estate.

Purchases:
1. Questions, questions, questions – if you are a first time buyer, make sure you ask your agent if they’ve worked with first time homebuyers before. Set your expectations in terms of communication and availability to see properties.

2. Scope out their negotiating skills – ask them to give you a list of homes that they have recently helped buy and find out about the listing price and ultimately the sale price.

3. Find out whether they know about local trends like whether the fire department siren that goes off in the middle of the night can rattle your windows, or where the best elementary school is, or even commute times and parking availability. Your agent should be a great resource.

4. Think of going with an exclusive buyer’s agent – these folks simply don’t represent sellers; they are on the buy side only. So you know they’re not just showing you listings on which they have exclusives or otherwise benefit them or their company.

If after all your hard work at researching and trying to find someone, you’re still not sure whether you’ve found “the one”, give us a call at Annunziata & Asllani, LLP and we will make sure to provide a few referrals of real estate agents that we work with on an ongoing basis and who deliver consistent results.