by CRESTICO | Oct 6, 2009 | CRESTICO
Many people contact me to ask me how to choose the best Real Estate Agent. Choosing the correct Agent can be a daunting task, especially in this economy. With so many foreclosures, short sales, REOs and distressed properties in the market, it makes a potential home buyer's head spin! I have compiled a "checklist" of sorts and put it here for you, Mr. or Ms. Future Homeowner, to use when trying to decide on a Real Estate Agent.
Here is a list of questions and topics you should definitely discuss with an agent you are considering using:
As my Agent, what are the services you will provide me?
This question is meant to be open ended. That Agent sitting across from you is going to make a commission of the sale/purchase of your next home. You will want to know exactly what he or she has to offer. From a sales plan, if you are a seller to a detailed report of the area you are looking to buy in, if you are a Buyer; your Agent should be able to anticipate and address each and every one of your needs and concerns.
What is your plan of action with regard to locating a home for me to purchase?
As a Buyer, you know basically what you want.. but you do not what you do not know. That means your Agent should fill in those blanks. Your Agent should be ready and capable of doing research for you. Do you have children? Your Agent should be prepared with information on the appropriate schools in the area. Are you a jogger? Your Agent should be prepared to show you points of interest that will be in your neighborhood.
How much time will you give me?
We, as Real Estate Agents, LOVE TO TALK. More than talking, we love to talk about ourselves and what we can do. Make sure that when you are having this conversation with your prospective Agent, he/she can talk about what he/she can do FOR YOU and not what he/she has done in the PAST. You do not need to know how he/she did last year, you want to know what he/she is doing this month and how much time he/she has to devote to your needs. An Agent with 20 listings and 10 prospective buyers may not be able to give you the same level of service that an Agent with 2 listings and 2 buyers will be able to give you. Remember, you are looking for a HOME not a pair of shoes…you don't need to scrape the bottom of the bargain bin on this one!
What is the price range you propose for me?
Now this may sound odd to you. Why would you ask your Agent about price ranges when he/she has no idea about your financials. This is where the benefit of working with an Agent that is affiliated with a Broker who has a standing relationship, and in some cases even a dedicated representative, at a Direct Lender comes in handy. When you work with Agents that have outstanding working relationships with Lenders, you get the best of everything in one shot. Your Agent will be able to work with his/her representative at the Lender to make sure your pre-approval letter is ready to go when making offers. When you know how much loan you can get, you know how much home you can buy!
As a Buyer, you will not be paying your Agent, because Buyer's Agents' commissions come from the Seller's proceeds. Even so, you will still need an Agent who will be able to represent your needs accurately and efficiently, while providing you with EXCELLENT customer service. If you encounter an Agent that is not treating you well, GET RID OF HIM/HER – there are too many Agents out there who will be MORE than happy to serve you to the best of their abilities.
by CRESTICO | Apr 2, 2009 | CRESTICO
Many people contact me to ask me how to choose the best Real Estate Agent. Choosing the correct Agent can be a daunting task, especially in this economy. With so many foreclosures, short sales, REOs and distressed properties in the market, it makes a potential home buyer’s head spin! I have compiled a "checklist" of sorts and put it here for you, Mr. or Ms. Future Homeowner, to use when trying to decide on a Real Estate Agent.
Here is a list of questions and topics you should definitely discuss with an agent you are considering using:
As my Agent, what are the services you will provide me?
This question is meant to be open ended. That Agent sitting across from you is going to make a commission of the sale/purchase of your next home. You will want to know exactly what he or she has to offer. From a sales plan, if you are a seller to a detailed report of the area you are looking to buy in, if you are a Buyer; your Agent should be able to anticipate and address each and every one of your needs and concerns.
What is your plan of action with regard to locating a home for me to purchase?
As a Buyer, you know basically what you want.. but you do not what you do not know. That means your Agent should fill in those blanks. Your Agent should be ready and capable of doing research for you. Do you have children? Your Agent should be prepared with information on the appropriate schools in the area. Are you a jogger? Your Agent should be prepared to show you points of interest that will be in your neighborhood.
How much time will you give me?
We, as Real Estate Agents, LOVE TO TALK. More than talking, we love to talk about ourselves and what we can do. Make sure that when you are having this conversation with your prospective Agent, he/she can talk about what he/she can do FOR YOU and not what he/she has done in the PAST. You do not need to know how he/she did last year, you want to know what he/she is doing this month and how much time he/she has to devote to your needs. An Agent with 20 listings and 10 prospective buyers may not be able to give you the same level of service that an Agent with 2 listings and 2 buyers will be able to give you. Remember, you are looking for a HOME not a pair of shoes…you don’t need to scrape the bottom of the bargain bin on this one!
What is the price range you propose for me?
Now this may sound odd to you. Why would you ask your Agent about price ranges when he/she has no idea about your financials. This is where the benefit of working with an Agent that is affiliated with a Broker who has a standing relationship, and in some cases even a dedicated representative, at a Direct Lender comes in handy. When you work with Agents that have outstanding working relationships with Lenders, you get the best of everything in one shot. Your Agent will be able to work with his/her representative at the Lender to make sure your pre-approval letter is ready to go when making offers. When you know how much loan you can get, you know how much home you can buy!
As a Buyer, you will not be paying your Agent, because Buyer’s Agents’ commissions come from the Seller’s proceeds. Even so, you will still need an Agent who will be able to represent your needs accurately and efficiently, while providing you with EXCELLENT customer service. If you encounter an Agent that is not treating you well, GET RID OF HIM/HER – there are too many Agents out there who will be MORE than happy to serve you to the best of their abilities.
by CRESTICO | Mar 15, 2009 | CRESTICO
Being a Real Estate Agent is exhilarating. The rush you feel when a deal finally closes and you are waiting for that wire transfer is unparalleled by any other paycheck you will receive. But this rush does not come easy, nor does it come quick. Being a good agent requires a certain level of patience and stamina. Closing a deal is akin to running a marathon, you have to be in it for the long haul; because it’s rarely a sprint. Here is some advice for Real Estate Agents that will help you endure the marathon and finish with flying colors.
Invest in yourself. The investment you make into your career is one that you make into yourself. From time and effort to clothing and personal hygiene, the more you tend to your own needs, the more your clients will feel that you are capable of tending to their needs. As a Real Estate Agent, you will probably work evenings and weekends. While your schedule will remain flexible, remember to address and exceed your customer’s expectations with regard to your time and availability. It will often become necessary to show a home or take a listing appointment in the evening, or a weekend may be the only time you can write up an offer. Regardless of whether you plan to be a full-time or part-time agent, in order to be successful, you will need to make yourself available when your customers are available. If you are committed to success, and are willing compromise your time, to best serve your customers; there is no limit to the benefits you will enjoy as a result of this career choice.
The amount of time you invest in your career will directly impact what you reap. You’ve heard the saying "you reap what you sow" and real estate is no exception. A great way to maximize the benefits you receive as a result of the time you invest, is to educate yourself. Bu "educate" we mean that you should spend time reading, researching and talking to folks. Get a feel for the wants and needs of buyers and sellers; demonstrate your clear understanding of their concerns early on in conversations and you’re sure to grab their attention. Also, stay on top of industry news and market conditions. Doing this will make you seem like an "expert" and generate a sense of trust and reliance between you and your potential clients. Finally, think about new ways to reach potential customers. You can do this by attending events, networking or even joining social networking sites.
Much of the help and training you will receive will come from your employing broker. This is why it’s so important to choose the RIGHT one. Your real estate broker will help you in many ways, matching your efforts and investments by making some of his/her own and supporting your work and providing direction.
by CRESTICO | Feb 28, 2009 | CRESTICO
Before someone can hold him or herself out as a “Real Estate Agent,” he/she must be licensed by the state in which he/she plans to work, either as an agent/salesperson or as a broker. Before a license is issued, minimum standards for education, examinations and experience, which are determined on a state by state basis, must be met. After receiving a real estate license, most agents go on to join their local board or association of REALTORS® and the NATIONAL ASSOCIATION OF REALTORS®, the world’s largest professional trade association. They can then call themselves REALTORS®. An agent may still practice Real Estate without being a REALTOR®, however this means that the agent has not completed the steps in becoming a REALTOR®.
As a consumer, you are not bound to choosing only REALTORS® or Agents, you may work with either. There are many excellent agents that are not REALTORS®, however read on to discover some strategies in choosing the best REALTOR® or Agent for you. Real Estate Agents, whether REALTORS® or not, are bound by certain legal obligations. Traditionally, Agents must consider and weigh your interests ahead of anyone else’s; maintain the confidentiality of your information; obey your lawful instructions; be responsible for reporting anything that may be useful or of consequence to you; and account for any money involved in your transaction.
A REALTOR® is held to an even higher standard of conduct under the NAR’s Code of Ethics. In recent years, state laws have been passed setting up various duties for different types of agents. As you start working with a REALTOR®, ask for a clear explanation of your state’s current regulations, so that you will know where you stand on these important matters. The term "REALTOR®" is a registered collective membership mark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics (which in many cases goes beyond state law). In most areas, it is the REALTOR® who shares information on the homes he or she is marketing, through a Multiple Listing Service (MLS). Working with a REALTOR® who belongs to an MLS will give you access to the greatest number of homes.
Mitra Karimi-Paydar
Crestico Realty
(310) 362 – 0828 (TEL)
(877) 881-2929 (FAX)
mitra.karimi@crestico.com
P Go Green! Please consider the environment before printing this email
by CRESTICO | Feb 18, 2009 | CRESTICO
In making your decision to work with an agent, there are certain questions you should ask when evaluating a potential agent.
First, you should find out (by asking him/her) whether he/she is a REALTOR®. The term "REALTOR®" is a registered collective membership mark that identifies a Real Estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics (which in many cases goes beyond state law). In most areas, it is the REALTOR® who shares information on the homes he or she is marketing, through a Multiple Listing Service (MLS).
Next, get to know a little about your potential agent's license. In California, you can go to www.dre.ca.gov and do a "license check." This means you can see whether this person (a) has a license, (b) has a license in Good Standing and (c) who is the Broker that your agent is affiliated with. All of this information can be quite useful. Odds are that you do NOT want to work with someone who has a questionable past or too many open complaints or inquiries. In this day and age of rampant fraud and dishonesty, and with the mortgage crisis we are currently in, it would certainly be in your BEST interest to make sure your agent's license is CLEAN!
Next, find out about your agent's access to the Multiple Listing Service (MLS). If he/she is a Realtor® most likely, he/she has access to the MLS in your desired area. If not, you may want to ask him/her to get than access before you agree to use him/her as your agent. A good agent will go to any length to secure your satisfaction. The MLS can be quite useful in helping you to locate your dream home.
Now that you know about his/her license and all that he/she has access to, it is time to find out a little about your actual agent. Remember, this is a person you are going to be working quite closely with for an extended period of time. Many escrows are generally 30 days, and some, especially those for REOs are even longer. Remember, you do not enter escrow until after you have found a home, and sometimes it can take weeks to find the right home, so you want to make sure you are working with an agent that you are pleased with. In order to get to know your agent better, you want to ask him/her if real estate is his/her full time career. An agent who is not fully committed to his/her career, probably cannot be fully committed to your house hunt, either.
Additionally, you will want to find out if this person whom you may be considering as a potential agent, is in fact the seller's agent, as well. What does that mean? Let's say you go to an open house and there is a nice agent there who is extremely helpful and friendly. Now let's say this friendly agent asks you if you have an agent and you say "no." This person will want to be your agent. However, keep in mind, this agent is the Seller's agent, which means that he/she is the Agent who is trying to sell the home you are viewing. You will want to be careful about what kinds of confidential information you give this agent, because he/she has a fiduciary duty to his/her client (the homeowner.) So, it may be in your best interest, to find your own agent so that you can have someone purely interested in YOUR best interest, ONLY.
Finally, before making a final decision regarding an agent, you should ask the prospective agent HOW he/she plans to help you find your dream home. Ask him/her about his plans, you are entitled to know how your agent wants to go about making sure your future home has all of the things you do want and none of the things you do not want.
