How to Find a Good Real Estate Agent and what Traits should you look For….

Question

First off, let me say that there are a lot of good Realtors out there, with many different brokerages. There is not just one brokerage that is good and there is not only one good Realtor out there. Many go to work every day taking care of their clients and doing the best job they can.

A good real estate agent is similar in nature to a conductor of a symphony, coordinating the different players to make a successful transaction a reality. At different points in the process, the real estate agent is a salesperson, a buyer’s advocate, an analyst, a business manager, a consultant, a negotiator, and a marketer, just to name a few. We have found there are a number of qualities and traits that successful real estate professionals share.

10. Problem solver mindset. Do you enjoy coming up with creative solutions to problems or issues? Many successful real estate agents know how to properly showcase a house to make it more marketable and develop creative MLS listings to attract the right buyers.

9. Self-motivated entrepreneur. Having a desire to control your own professional destiny and be your own boss is a trait shared by top real estate professionals. To be successful in real estate requires a high degree of self-motivation, drive, and smart decision making.

8. Honesty and integrity. Your professional reputation is crucial to a long and successful career in real estate. Becoming a member of the National Association of REALTORS® is one way to show you practice high ethical standards. To become a member, you must pledge to a strict Code of Ethics and Standards of Practice.

7. Hustle and tenacity. Being a top producing real estate agent requires a great work ethic. You must have the tenacity to pursue every lead and the hustle to aggressively market your clients’ properties in order to have success. It’s not just about putting in a lot of time—it’s about working smart, putting in the right amount of time, and doing whatever is necessary to close the deal.

6. Interest in houses and architecture. Having a true interest in houses and architecture can give you an advantage over other brokers and salespersons. If your knowledge and interest level is apparent in conversations, your clients will see that you care about the industry you’re in.

5. Engaging personality. A good real estate agent doesn’t just sell properties—they sell themselves. It’s important to show your real personality. People will respond to you if you have a great attitude, are personable and honest, have confidence in your abilities, and get a sense of fulfillment by serving others.

4. Attention to detail. Paying close attention to the details is imperative for your real estate career. A complete real estate agent is attentive to the unique needs of their individual clients. If you are organized, follow up with leads, communicate well, and pay attention to the needs of your clients, you will close more deals.

3. Understand the local housing market. A top producing real estate agent appreciates and utilizes the nuances that make a specific community’s housing market and pricing strategy unique. Success comes from identifying and developing a focus or niche in the local real estate market that allows you to distinguish yourself from the competition.

2. Build a network of connections. Successful real estate agents have a vast network of contacts within the market they serve. This list of connections should include other real estate agents and brokers, potential buyers and sellers, and all the other players in the real estate industry, such as appraisers, home inspectors, and mortgage loan officers.

1. Knowledge is power. Staying up-to-date on the latest topics in real estate and in the local market will allow you to service clients more effectively. Continuing education and professional development are doors to opportunity that you can utilize to expand your business options and stay at the forefront of the real estate field.

At the end of the day, you get out of it what you put into it. There is a certain level investment needed (time, energy, and money) to make any business venture successful. Real estate is no different. If you are passionate about real estate and have similar traits to those outlined here, you have a great shot at having a long and successful real estate career.

Joel Owens · Answer

Depends on if you are talking a residential agent working with homeowners, investors, or a commercial broker working with investors.

Brokers in demand set standards.

I might not close 3 deals in a month but I am working on 5 to 10 million dollar transactions that take longer in scope.

I could see asking that question for a buyer looking at 50k properties.

Presenting low offers that are not close to market would be a NO for most busy brokers/agents.

Again when you are in demand a broker/agent can set business model standards to go by.

A newbie just entering the business has nothing generally so they will do a "numbers investors" bidding hoping to get some crumbs on a small sale. Long term that is not a way to stay profitable as a broker/agent in real estate looking for a needle in a haystack.

Joe Villeneuve · Answer

I have three questions I ask, in this order.  If I get a "No" answer to any of them, I stop asking questions and move onto a different agent.

Q1:  Have you closed at least 3 REI deals in the last month?

Q2:  Will you present all the offers I want to make...no matter how low they are?

Q3: (...and this is the big one)  Will you present all of my offers before I inspect the property?

Nhrai Jordan · Answer

@Joseph Scorese completely agreed. It's also worth adding that besides being genuine and knowledgable, a REALTOR should also add value to the transaction. The best relationships I have come from being able to learn from my clients as much as they learn from me.  And also being able to say no. Your clients may not like to hear no, but they will respect your ability to negotiate especially when you are representing their best interest.

Brian P. · Answer

In reply to Joe Villeneuve's three questions there are plenty of times when he would have put me on his reject list. I understand the logic of his questions and he is basically right but at certain times his list would have led to rejecting a seasoned investor and broker with 60 years of investment experience, and 50 years of broker-agent experience and the kind of agent he is looking for.

But the true purpose of his questions are to screen out certain types and if he throws out the baby with the bathwater once in a while so be it. But as others have mentioned I would be qualifying him and and he would have to  prove to me that he wasn't a waste of my time and effort before I would accept him, it is always a two way street with a good agent.

Joseph Scorese · Answer

Hi Joe,

I agree with you the need to work with a transactional real estate agent. Otherwise, I think your not getting someone that understands completely what you are trying to do as a Real Estate Professional.

In regards to placing offers, if they won't place your offer. Move on.

Finally, in regards to the offers sight unseen. This is based on your experience and knowledge of the market more than the property. Also, a trustworthy contractor with proper estimates could not hurt.

Joseph V. Scorese

NMLS# 391784

Joel Owens · Answer

(1. Knowledge is power.)

I do not use this definition.

What I like to use is  ( APPLIED accurate knowledge is power ).

You can learn lots of new things constantly which may be 100% accurate, somewhat accurate, or not accurate at all. You have to vet the source and make sure what you are learning is correct.

Next once you have determined you have the correct knowledge you need to implement it to have an impact in your life.

Example: You could read the best exercise book in the world but until you place in action the newly learned accurate knowledge is going to waste.

How to Find a Good Real Estate Agent and what Traits should you look For….

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