How To Find The Right Realtor

Continuing my series on how to buy/sell a home or investment property with a subject that, for some reason, is my favorite......How to Find The Right Realtor®. Should be easy, right? You could just go to Zillow, pick one and hope you get it right. Not so fast. Choosing a Realtor is a very crucial part of the process. Yes, you could find your next property without using one. Find those Off Market Deals, Get with a Wholesaler, Browse the many Facebook Real Estate pages or check out FSBO's. And while it may be tempting to avoid Realtor fees and handle things on your own, having a professional by your side can make the process go more smoothly and provide valuable insight into what's likely one of the biggest purchases of your life. Plus I would be doing a disservice to myself and my profession if I didn't talk about why it is so important to at least consider talking to a Realtor. And not just any Realtor as not all are created equal. Having a real estate license doesn't automatically make someone a great Realtor! So how do you find the right one for you?

Word of mouth is a good start. Have your home buying friends or fellow investors used a Realtor they liked? Ask them who it was and then add at least two others. You can also ask in public forums, call the top brokerages, look at reviews on home sites like Zillow and attend open houses where you can meet them in person. Find out what the Realtor's experience is and what kind of a track record they have. Do they do this full time or part time? Remember, more than likely you want someone dedicated to real estate who does this full time. Most of all you want to really get to know your Realtor, meet with them and ask questions as if it were an interview, because truthfully it is!

What can this Realtor do for you? How will they help you find a home or investment property? What latest technology do they use and how responsive are they? What effort do they put into marketing themselves or their listings? If you are an Investor, does this person understand the market for Investors, the terminology and calculations used to determine if a potential investment is a money maker? Every city is different with regard to the market and areas involved. Here in Pittsburgh PA there are areas that yield more positive results than others, just like every other city. And a market savvy Realtor will know them. So do they also have a proven track record of investment property/home sales? These are just some of the many questions you should be asking the Realtor. Likewise the Realtor should be asking you a lot of questions because that is crucial towards them understanding your specific wants, needs, desires and goals. This is a major purchase you are thinking of making, so the person that represents you should be someone with the qualifications, knowledge, work ethic and rapport that best fits your vision. A relationship no matter what kind has to be a mutual agreement. And once you've made your decision, work with them solely. As your relationship develops, a great Realtor should know your wants and needs and fine tune their work to your specific requirements. So what makes a great Realtor®?

First off, experience working a variety of transactions enables someone to be well versed in various situations. Each deal presents different challenges, so it's preferable to have someone who has been "around the block". You may have noticed that the picture above has the Realtor logo with a circle R. What does that Circle R mean, you might ask? It designates someone who is a part of NAR (The National Association of Realtors®), therefore dedicated to upholding the code of ethics governed by that body. Having someone who works full time as a Realtor with lots of experience proves valuable, as they are typically more in touch with the market. Someone who shows homes every day of their lives and has a proven track record of sales is someone who can be a successful advocate for you. So once you find that someone, stick with your choice.

Remember that Realtors work for every dime they earn, so try to avoid "realtor jumping" from one to the next. Realtor.com has a great article that talks about why you should hire a Realtor. In this article they state "You see a property and make and offer, how hard can that be?" "Since I would not be hiring a Realtor, there's less expense and that should give me a better chance to negotiate the deal, right?". Wrong, you see a good Realtor may know about properties on the market long before you do and guide you through the mountains of paperwork, pointing out potential problems that could save you money down the road. You may be the best negotiator but there are many things that can happen in the real estate transaction that could potentially derail the train. The article goes on to play devil's advocate by questioning "I'll just save money and hire the listing agent right?" Maybe, maybe not. You want someone who is in your corner so be sure to discuss any concerns you may have about the listing agent representing both you and the Seller. A good listing agent will appreciate your concerns and ask another agent to step in and assist so that all parties are treated and represented fairly. Thanks, Realtor.com, for your insight.

Hire a professional that lives and breathes their profession. In this case, real estate. Unless you know what you are doing, you wouldn't do the electrical work yourself, or install siding or do major plumbing work, so why would you buy a home or investment property on your own? Also, are you prepared to negotiate? Do you have information about other similar properties in your desired neighborhood aka comparables? Do you know the difference between a VA loan, FHA loan, conventional loan? Would you leave it to chance on what may potentially be the largest purchase you'll ever make? Do you understand things such as contingencies or inspections and the ramifications of each? How about bidding? Are you prepared to bid something that could be accepted by a seller? How about counteroffers? And what about listing price? When selling your property, do you have it "priced to sell". A good Realtor will help you through the negotiations like the pro they are. And many, many more questions may (and usually do) come up but someone with experience will already have the answer.

So, do your due diligence. This is an important decision you are making and you need a professional with you throughout the buying (or selling) process. Now go find that Realtor®!

Ready for Step 4? Touring your chosen homes with your Realtor® - Stay tuned