Whether you are selling or buying a home, it is likely to be the largest dollar transaction you will ever be apart of. With it being such a large chunk of change, who you choose to navigate this process is essential.
The reality of the Real Estate industry is that it is a fairly straightforward process to get your license inorder to call yourself a Realtor, hence why so many people do it part-time. With so many people available to help you with your transaction how do you pick your Realtor? Scott, a member of our team says “Realtors are like hair stylists, everyone knows one” and he is right! The initial reaction of most people is to go with a friend who has their license no matter their level of experience, area of focus or standing within the profession. This selection does make sense though, they already know them personally and they feel comfortable with them. However, using a friend who has their license and is part-time has its drawbacks.
Does their other employment impact their ability to help?
This past year I’ve met individuals who started out their property search or sale with a friend. The initial part of the process is great, no awkward ice-breaker or getting to know you period, but it becomes tough when the Realtors alternate employment schedule starts to hamper progress. One lady was searching in midtown Tulsa, a hot, fast paced market. She was missing out on multiple listings because the market moves so quickly and you had to view the homes the day they list. Her agent couldn’t show because she worked out of the city in Claremore and could only show after 5:30.
Had this lady been working with an agent who was able to show her a property as soon as it hit the market she may have been in her dream home sooner than later.
It should be pointed out that part-time agents on a team are able to count on their teammates to cover for them should they ever need it. If the agent is part-time it’s worth checking whether they’re apart of a team who can help out when needed.
Are they putting the reps in?
A good Realtor is the Quarterback of a transaction, and like any good Quarterback they need the reps to get better. The benefits of doing multiple transactions are extensive. They know what to do if a deal starts to go sideways. The more contracts they write the more adept they will be at using a contract to their clients benefit. Attending more inspections mean they’ll see more things that can be wrong with a home and know how to forewarn clients about them in the future. On the listing side the more homes they sell, the more appraisal packets they’ll have to produce to help an appraiser understand their rationale behind price, therefore helping reduce the risk of a home not appraising for sales value- a huge problem!
How to choose your Realtor?
If you are someone who is looking to buy/sell a home choosing between a friend who does real estate on the side and a full-time professional can be tough. Ultimately doing what is best for you is what needs to be done. We’ve talked before about the Realtor selection process and for this the advice remains the same.
Take a moment to review their past sales and transactions. You need an individual who knows the market well where you have interest and has a proven track record. Have they transacted there in the past? If they haven’t but they come recommended to you, meet with them in person. Interview them and read up on them online. They will have a Zillow profile, maybe a social media account so you can see how they market.
Buying or Selling a home is one of the most stressful things you will ever do, be sure to use someone who will be able to help you navigate the ups and downs of it to ultimately achieve your property goals.