How to Find a Good Agent

[Derrick Thomas]

Looking for tips on finding a good real estate agent without it impacting my seed capital in a meaningful way. Is there a major difference in fees and impact on negotiating or are agents pretty commoditized?

[Charlie MacPherson]

I'd advise that first and foremost, you look for a FULL TIME agent.  Part-time agents are the bane of the business.

Once you find a good candidate, talk with them to take their measure.

As to negotiating, ask them for examples of how they have negotiated for their clients.  War stories, if you will.

For example, I recently helped a client to buy a 3-plex in Brockton, MA.  Not to brag (well, maybe a little), I was able to get the seller to cover all closing costs - which, with prepaid taxes and insurance came to $16,000.  You read that right - the seller covered my client's property taxes and insurance for the best part of a year.

I also got him to lower his price by $10,000 when the property didn't appraise.

I was able to do so because his agent wasn't a good negotiator.  He rolled over like a harbor seal on a flat rock.

If you have an agent like the seller's agent above, he or she will cost you money.  Dump them fast.

If you have an agent with good negotiating skills, you should do whatever it takes to keep a good relationship with him or her.