Using Real Estate Agents Wisely

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As a real estate investor, I have my own criteria for selecting real estate agents when I need one for information or a deal. My needs and requirements are very different in many respects from those of the consumer, the normal home buyer or seller.

Sure, your home is an investment, but you are evaluating it based on family, personal needs and your lifestyle. I'm normally just looking at numbers and investment calculations. In fact many investors understand very well the saying "Love the numbers, not the house." We can hate the neighborhood and the house, but love the numbers that result in profits.

So, let's talk about how you as a personal home buyer or seller can evaluate and select a real estate agent. I must confess that I also really don't care much at all if my agent and I get along or connect on any personal level. Many home buyers and sellers do consider it important to have an agent with whom they have a comfortable relationship. So, place the "getting along" part into your priority list wherever it fits best for you.

Real Estate Agent Selection for the Buyer

I would first suggest that you consider a dedicated "buyer agent." This is an agent or the entire brokerage, who doesn't take listings or represent sellers. This way you can be a little more secure in feeling that only your interests are being considered when showing properties.

The first indication that you may need to take that advice is if an agent immediately begins to show you only the listings of his/her brokerage. It is naive to think that this particular brokerage would have EVERY listing in the area that best meet your needs. You may not be seeing a great many more that do, even suiting you better.

You'll have a lot more agent choices though if you don't demand buyer agency, but at least be aware of the possibility of bias toward brokerage in-house listings. They are trying to serve their sellers, but you want to see the listings MOST suitable for your needs.

Real Estate Agent Selection for the Seller

With the Internet, a whole lot about marketing homes changed. So, the first thing I would suggest you look at when interviewing listing agents is how their brokerage will market your property online. They will all place it in the MLS, and most will have some syndication to have it show up on other major sites like Zillow.com.

I'm talking more about quality of images and text. Everybody is shopping for homes on the Web, and most will already find their homes of interest even before they contact a buyer agent to work with them. They will not stay long on a listing with poor photos. What do I mean by poor photos?

• Too dark or bright
• Low resolution
• Too many shots of bathrooms and closets with too few of complete living areas
• Look like they've been over-edited to enrich colors - fakey

Photos are always at the top of the list of what buyers say they value the most when searching listings on the Internet.

For Buyers and Sellers

Real estate agents work hard to generate referrals. They want happy clients to refer them to friends, relatives and others. There is nothing wrong with this, but what made them perfect for that person may not be important to you. Never just take a referral and run with it. You may give them a priority in getting together, but be objective in checking out their suitability.