List of Licensed Real Estate Developers

Let me tell you from the start you don’t need a real estate agent to help you buy a home. However, having a real estate agent representing your needs in buying a home is a wise decision. Here are a few tips on what to look for in hiring a real estate agent and what things to try to avoid.

Tip #1: Specialization in the area you want.

Like doctors, lawyers and other professionals, some real estate agents specialize in their field. There are as many specializations in the field as you can imagine. A few examples are commercial properties, farming, retail, management, and residential – those selling homes.

You want to find an agent that specializes in what you are looking to buy. For example: If you wanted to by a farm, you would want an agent that has experience marketing and selling farms. Someone savvy in the field can give you an edge in finding and negotiating a good deal. Those people who have the most experience in the area know what decisions are advantageous and which ones are not.

Tip #2: Training, Certifications, and Memberships in the area you want.

There are many professional organizations and certifications that one can belong or earn to demonstrate professionalism and specialized training. The largest and best know professional organization is The National Association of Realtors. (www.Realtor.org) Being a Realtor entitles the agent access to specialized training, research material, marketing and selling tools, but more than anything else it means that the real estate agent needs to abide by a strict code of ethics.

The National Association of Realtors has several affiliated groups of interest to those selling or buying homes. One is the Council of Residential Specialist (www.CRS.com) that awards a Certified Residential Specialist – CSR, designation. This is specialization tells the public that the person is an expert selling and marketing homes – (residential properties). The other is the Real Estate Buyer’s Agent Council - REBAC (www.REBAC.net) that awards the Accredited Buyer’s Representative – ABR. The ABR designation tells the public that the agent has specialized skills and training working especially with Buyers and helping them find and purchase their home.

Tip #3: Hire an Experienced Agent.

Finding a real estate agent with general experience is good, but finding one with specific and local experience is better. It has been said that all real estate is local. That is why someone that has their finger on the local pulse of the market is able to provide local, inside information on what is happening in the real estate market that someone not familiar with the local market might miss.

Just being licensed and not knowing the local market puts the real estate agent, and you, at a disadvantage. Simply said, you want to pick someone that has worked the areas where you want to buy.

Tip #4: Someone that Knows How to Negotiate Well.

Once you find a home, negotiating to buy the house is next. This is where having someone with good negotiating skills is an asset.

It has been said that the key to a successful negotiation is knowledge. The agent can easily research many valuable items. Such as: Determining if the property is priced correctly. Finding out how long it has been on the market – too long may mean there are problems. The search may lead to finding out the property is in default or over-encumbered where the sale may require doing a Short Sale. This implies the Seller needs to quickly sell the property and may be willing to look at low price offers. Such information discovered can significantly help in the negotiations.

Lastly, a good negotiating real estate agent is dispassionate about buying the property. The goal is simply to help you get the best deal in buying your home. Let us say you want to offer $5,000 less than the asking price. Your real estate agent can determine if making an offer for $5,000 less will work. Who knows you might get your dream home for $5,000 less!

What to Avoid

#1 Avoid having a family member act as your agent… Problems and issues always arise and they can spill into the family relationship. You want to avoid this.

#2 Avoid agents with less than a few years experience… It is good to give people their start, but their lack of experience and knowledge may cost you lost opportunities in negotiating a good deal.

#3 Avoid agents who are too busy… When buying real estate it’s important to hire a real estate agent that has the time for you. If you have to constantly deal with their assistant, you may want to reconsider hiring someone else.

#4 Avoid agents not familiar with the area of your interest… Knowledge is power and the lack leads to lost opportunities and costly mistakes.

#5 Avoid listing agents representing the seller… This, I believe, is a conflict of interest. Let me ask you this: Would you hire a lawyer to represent you and the person you want to sue.

#6 Check references… Check with the local real estate association to see about their licensing status and about any complaints filed.

#7 Avoid real estate agents with weak negotiating skills… Ask to speak with former clients to see how well they negotiated on their behalf. This will enable you to get a good idea if they were strong or weak negotiators.

The most important factor is working with someone you like and has a personality that works well with you. If you are not comfortable with the person representing you the stressful process of buying a home becomes more stressful. I strongly recommend working with someone you like, and someone you feel you can trust.

Hope these tips help and good luck.