How NOT to Pick a Real Estate Agent!
January 10th, 2008categories: Chico Buyers, Chico Sellers
Hiring the right real estate agent in Chico can mean the difference between a successful transaction and a potential financial and emotional disaster.
For most people, finding the right real estate agent is a difficult process. Successful Realtors and mortgage brokers alike witness the frustration and despair of buyers and sellers that are poorly represented. Honestly, it’s painful to watch. Save yourself the nightmare! Read on.
I ran across an article written by Rob K. Blake over at The Mortgage Insider Blog who sounded an awful lot like me! His article explained how NOT to hire a realtor, while mine specified how TO hire a Realtor!
Rob: Real Estate Help - How NOT to Pick a Real Estate Agent
Sandi: How to Hire a Chico, CA Realtor and Make More Money!
Rob says “Don’t be lazy. Do your own research. A significant chunk of finding good real estate help is getting educated yourself.”
Rob and I agree that your family, friends, and neighbors may not be your best choices when hiring a Realtor. Don’t feel obligated to entrust the largest investment of your life to Aunt Ethel, Cousin Clyde or neighbor Nate, just because you “know” a Realtor.
Rob made a very astute observation when interpreting information from the Bureau of Labor Statistics.
If the average Chico real estate agent earns about $35,000 per year, they are only completing about 5 transactions!
Ouch!
Rob says, “Five closed deals per year hardly makes one a “pro.” In my mind, it makes them a rookie and at that pace, they’d stay a rookie for over 20 years. Hire the most experienced professional you can lay your hands on! The best way to determine experience is by the number of transactions an agent is handling monthly or yearly. The agent’s production is going to give you the best indication of how committed they are and how much real estate help they’ll provide.
I fully agree that experience and competence are highly critical attributes to consider when searching for a Realtor. However, I would also urge you to consider that not ALL top producers will be a good fit for each consumer. Some are ethical, nice people… some are not.
Depending on what you’re looking for in a Realtor, it’s important that you also connect with your real estate agent of choice on a personal level.
Shake their hand, look them in the eye, listen to them talk, and READ their blog! You can gain a lot of perspective about how your Realtor will work to protect YOU by investing just a few valuable minutes getting to know them.
Like what you’re reading?
I LOVE IT! Your entire blog site, that is. Excellent article, and I thought your two links to the diferent perspectives on this subject were a brilliant touch.
The # 1 reason people tell pollsters they pick an Agent? “They had a friend in the business.” Competence? well no. Integrity? Yes there are agents you can trust who also have a high degree of competence in what they do, number of transactions is a good benchmark for starters, but like you I think it is not the be all end all.Terry McDonald
Sounds to me like this Chico, CA Realtor is on top of her profession. How fortunate for those looking to buy or sell real estate in the Chico, CA. market.
Chad
I always like to check with local title companies to see which agents are still closing homes in the area. That is where I start my search for a agent.
I just found a cool new way to market properties.
http://www.beekast.com
Sandi - You show your real estate knowledge in every article I read of yours - I loved both articles and home home buyers and sellers will do their research in 2008!
Sandi - You are so right! - At five closed transactions a year, it would take years to acquire the knowledge necessary to be considered a pro.
Most people only talk to one realtor - then are dissatisfied. I don’t get it. Folks shop around 3 places for the best price on a pizza. Why not a large contract like a house??
This is a great post. Most people don’t know how to pick a Realtor. I have many friends who picked me just because they know I’m very reliable and trustworthy. But I’ve seen other people pick friends for Realtors who shouldn’t be managing the corner ice cream stand. You are obviously an excellent choice if someone needs a good Chico real estate agent. Just looking at your blog shows your experience and knowledge with the area and the real estate business.
“Five closed deals per year hardly makes one a “pro.”
Sandi, I am sure you know there are a lot of realtors that do fewer sales that that!
I think these agents make us all look bad and these are sucking the financial life out of the full time professionals.
Unfortunately many people still choose a friend or a relative with no regard to professional qualifications.
Would you choose a surgeon that way, I think not.