Maris Grove	UPDATED: Wednesday, June 06, 2007
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10 tips for picking a real estate agent

Posted on Friday, June 01, 2007

By Mark Abromaitis
THE ERICKSON TRIBUNE

The warm weather months are traditionally the best time to sell a house. The grass is green, flowers are blooming, and houses show well. School is out and buyers are ready to negotiate.

So you’ve decided to take the plunge. Now, how do you find a trustworthy real estate agent?

“Simply trust your instincts and do your research,” Pam Matschat, retirement counselor at Maris Grove, says. Matschat says you should pick a real estate agent like you would pick a bank. “Ask around and ask lots of questions.”

She also offers the following advice:

1. Start with referrals. Ask for recommendations from family members, your lawyer, or neighbors who recently sold their homes. “If others had a good experience, you probably will too,” Matschat says.

2. Look for experience. Experience is important in the real estate business. An agent who knows the market well and is “plugged in” to the community is more likely to get you the best possible price.

3. Is the agent full-time or part-time? A full-time agent has more time to devote to your property, and may be more committed to selling your house than someone who is selling real estate as a side job.

4. Find out which agency has sold the most homes in your neighborhood. “A proven track record and familiarity with your neighborhood means a lot in a competitive market,” Matschat says.

5. Interview several agents. Ask for a resume and references from previous clients. You may also want to check them out with the Better Business Bureau. Determine if they are someone you would be compatible working with. “Having good communication is key,” Matschat says. “Make sure you both have the same thoughts about the value of your house.”

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6. Get a preview of performance. Have two or three of your finalists prepare a listing presentation. This should include a comparative market analysis (CMA). A CMA documents recent sales and listings of homes similar to yours in the same area. The agents’ suggested selling price for your house should be based on this. You may also want to do a walkthrough of your house with each agent. “This will give you some idea of how each agent will handle your home with a potential buyer,” Matschat explains.

7. Don’t be tempted by the highest bidder. If one agent is quoting you a much higher price, he or she may be doing it to get your business, then dropping the price later when the house doesn’t sell.

8. Beware the low bidder. Some agents will quote an unusually low price to ensure a speedy sale. You may sell your house in record time, but you are not going to get the best price for your house. If you have the CMAs from the agents you interviewed, you will likely have a realistic notion of the price range for your house.

9. Make sure the agency uses the Multiple Listing System (MLS). This system allows its members to post their listings for all agents to see. This helps give your property maximum exposure to the market.

10. What is the advantage of a realtor over a real estate agent? A realtor is simply a real estate agent or broker who belongs to the National Association of Realtors. Its members are held to a code of ethics that may provide you some assurance that you will be treated fairly.

Once you’ve chosen your agent, Matschat recommends negotiating the broker’s commission before listing your home with an agency, and signing for a limited time (three to six months is typical).

Final points
If you haven’t already received a detailed account during the interview process, insist on a written sales or marketing plan. It should include the schedule of listings, advertising, direct mail, or other forms of promotion the agent will use.

Your agent is your real estate advisor, so he or she should be present at all contract negotiations.

Doing this type of research is time consuming, but remember, you are entrusting one of your most valuable assets to your agent. Take your time and choose wisely.