CARL WATTS & ASSOCIATES
April 19, 2010
Choosing someone to represent you and your interests in buying or selling a property is a very serious matter and you need to make sure you select the right person for the job; the time you spend looking for the right agent may make a big difference later.
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Washington DC
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tel/fax 202 350-9002 |
Real Estate Agent
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See if you can use a licensed realtor. Realtors have additional training, are members of an association and conform to a code of ethics. If they have a broker’s license is even better. |
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Ways to find a real estate agent:
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Ask your friends, family, acquaintances who have gone through this experience what agents they found helpful and productive. |
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Put up a “For Sale by Owner” sign, agents will come to you.
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Contact a Realtor Referral Service.
Make sure the information you submit is accurate and complete.
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Check the Open Houses in the area you’re interested in and ask the agents there questions about the house, market, neighborhood, sales process, etc. |
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Contact several agents and arrange meetings. |
| Prepare a list of questions to ask at the meeting. Here are a few suggestions: |
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How many years of experience do you have?
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Is your license in good standing?
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Are you a member of a professional real estate association? (Make sure they are up-to-date in their field)
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Do you work part-time or full-time? |
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How many actual sales did you have in the past two years? (not just transactions) |
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Can you give me any references from previous transactions? |
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How do you work? How do you get your job done? What marketing strategy do you plan to use? (What is your direct mail campaign? How often do you advertise and where? How do you market online?)
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How long - on average - does it take to sell houses? (Long time marketing periods may indicate overpriced homes and poor planning.) |
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Are you familiar with the neighborhood? What details can you give me about the recent listings in the area? (Your agent should be well informed about the neighborhood where you plan to buy or sell, know the significant landmarks: schools, shopping centers, commuting etc.)
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How many other clients are you handling at this time? (You need someone who is available to answer your questions and you can easily keep in touch with.)
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How do you prefer to communicate and when? |
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How much do you charge? (Fees are negotiable so don’t hesitate to ask for a better deal).
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Will you represent both seller and buyer? (You want to make sure they represent you and your interests.)
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What are the best financing options and rates?
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What industry professionals do you usually work with? (lenders, appraisers, inspectors, remodelers, attorneys, etc.) Will they be able to give me any benefits?
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Will I be able to review documents before being asked to sign them?
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What else do you think I should know?
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Make sure you feel comfortable with your agent, that they clearly understand your wants needs and concerns and your personalities match.
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Lower fees shouldn’t be on top of your criteria for choosing a real estate agent, they usually indicate a lack of experience.
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If you prefer you can sign for a trial period of three to six months.
Do not sign an agreement at the first meeting, but once you decide make sure to add an “out clause” so that you can terminate the contract if your needs aren’t met or you are not satisfied.
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