Agent Relationship – a valuable part of your home search
September 2nd, 2009 Categories: Buyer's Corner, Relocating, Selling Thoughts
Recently someone said to me, “Wow, real estate agents are really abused, they get tossed aside and run around like there’s no tomorrow”. I hadn’t especially thought of it that way before because we’re always running around like chickens, however, this financial recession certainly has had it’s ups and downs for everyone, including real estate agents. Think about your relationship with your real estate agent like the relationship you’d make with your financial advisor, doctor or dentist.
Residential Real Estate is a hard business to get into and it’s a hard business to stay in. You have to have a genuine interest in working with people and know when to put your business hat on and enjoy the art of negotiation. Listening to each other, rather than just talking promotes insight, driving through neighborhoods and looking at different styles of homes for days narrows the search down; wearing your interior decorating hat helps visualize the possible renovation, and not to mention keeping your car clean are all big parts of the residential real estate agents life and business. However, creating a relationship with your clients is by far the most important. Getting to know them, what their likes and dislikes are, what their lifestyles are like and family needs are play an important part of being able to find the “right” home. It’s also very important to incorporate good communication skills into the real estate transaction to be successful for everyone involved in the negotiations. These essential components are necessary to establish a successful relationship between agent and Buyers or Sellers, plus the other real estate agent working the other side. If the relationship isn’t working, the real estate transaction most likely won’t either.
Here’s a big …question. Why do people flit between agents while they’re looking for a home to buy or sell? This is one of the most important money transactions you make during your life! Hopefully they are looking to find the “right” fit; the right personality, the right connection, and the right combination of intelligence in the agent that they choose to represent them. The end result should be that you find an agent that you feel comfortable with so that you can create a relationship with that person. Think of it like a “partnership” with that person. Its human nature folks, if you care about them and their interests – they will care about you too! Get to know them personally a little bit and that will bring all kinds of insights into the search as to what kind of home ”everyone” is looking for. I say “everyone”, because “everyone” is working together to find that perfect home.
Some important things to think about when picking a real estate agent to work with:
1. Do they have access to show you all the properties that you want to see and are they a member of the local board of Realtors that adhere to high ethical standards?
2. Do they ask a lot of questions, do they seem interested in you, or are they just interested in talking about themselves?
3. Do they seem to be updated on local real estate news and markets?
4. Are they a full time agent or a part time agent? (that makes a difference sometimes)
5. Do they seem to be a “know it all” or pushy, or do they listen to what you have to say and make thoughtful suggestions and offer insightful advice.
6. Are they professional in their personal presentation? That says a lot folks…this is a business.
7. Do they come prepared to meet with you, whether buying or selling?
8. Do they seem to care about working with you? It is a profession, it is a business, it is how agents make their living, but do they really care? They should.
9. Do they treat you with respect and are you willing to do the same for the agent? You and your agent should have dialog up front about issues concerning commissions, negotiating procedures, response times and general transaction expectations on both sides.
10. Do you enjoy your agents company and do you feel that they are promoting your interests with good faith, loyalty and fidelity? If not, and if you have already signed a working agreement with them, ask to be released (should be in writing) from your agreement and move on. (There is usually a holdover period of 30-60 days so check the fine print). 
While no one likes to be “let go”, ultimately if the relationship runs into problems this usually impacts the way the real estate transaction will be handled.
Don’t forget to let you agent know what a good job they are doing. I try to make a point of asking my buyers and sellers when the real estate transaction is done – what they liked and what they thought needed improvement. There’s always room for improvement and it strengthens the relationship even more so you than can feel comfortable referring your real estate agent to family, friends or work associates. It’s a known fact that your relationship with a good real estate agent by far out weighs going it alone, both financially and emotionally.
