Wednesday, June 9, 2010
6/09/2010 10:46:00 AM | Posted by
Arbor Mortgage
If you don’t know anyone in the real estate business, how do you choose a real estate agent? It doesn’t have to be a drawn out process. Try these easy steps:
- Start by asking friends or family for a personal referral. If you know someone has had a good experience with a person, chances are good you will, too. If you can’t find a personal referral, speak to your loan officer about a referral. Arbor Mortgage has a list of Preferred Real Estate Agents all over the state of Michigan. Try to interview a couple of agents to find a good fit.
- Gauge the agents level of expertise by how many/what questions they ask you. Try to let them direct the conversation; it will tell you a lot. Example: Are they positive in their outlook of market or down right away about your ability to sell? You don’t want someone too eager to tell you what you want to hear, but at the same time, there are agents that don’t want to put the work in on the tougher or lower dollar cases. Use your judgment about their attitude and level of excitement.
- Do they talk money right away? Or are they asking personal questions about your lifestyle? Good agents will want to find out all they can about you first, to help you make the right choices, before they even bring up sale prices or commissions.
- Are they on their phone during your meeting or do you have their undivided attention?
- How much do they talk about themselves? You want someone successful, but not an egomaniac.
- Ask how long they've been in the business. You want some with a good level of experience.
- Ask how many transactions they close per month. You want to know that they are closing at least a few a month, but not too many. They might be great, but you might not get the level of attention you want.
- What hours are they available? You want a full time agent that can work your schedule. Also, ask them when you expect to hear from them. You want to set expectations for regular contact.
- If selling your home, ask about their marketing plan.
- Are they using the most up to date tools/technology available?
- Will they be doing open houses – why or why not? Open houses aren’t a necessity depending on the market, but you want to know their reasoning. You’ll know if it makes sense.
- Ask them for a comparative marketing analysis, so you can see what price other homes have sold or are listed.
- If buying a home, avoid "dual agencies" when possible. A dual agency is when the agent represents both the buyer and the seller in the transaction. You want an agent that works only for your interests, not the seller's.
Above all, go with your gut. Is the person friendly, knowledgeable, easily accessible and passionate about their work? If so, you’ve found your guy/gal.
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- Arbor Mortgage
- Arbor Mortgage is a Michigan based mortgage lender that has been providing mortgage solutions for more than a decade. Since 1998, Arbor Mortgage has helped more than 20,000 people purchase or refinance their homes. Arbor offers a variety of mortgage programs including FHA, USDA Rural Development, VA, Conventional and Alternative loans.
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