There are lots of web sites out there promising you all kinds of help you might not need if you are buying or selling a house or condo. It might be access to a gazillion lenders or real estate agents who will cut interest rates or commissions for a crack at your business. It might be the ability to get access to listing information without speaking to some pesky real estate sales person. It might be a free estimate of your home's value.
So you push "Continue". Then a little screen comes up asking for your basics - your name, where you live and how to contact you. Then you're off to this wonderul web site where you can do it yourself or save a few bucks - or maybe not.
What happens next is that the proprietor of this web site sells your information to one or more lenders and real estate agents - maybe even moving companies, interior designers - you name it. Your name gets put out there to people who make money helping other people get moved.
But does your contact information get sold to good, experienced loan officers and agents and others who will provide high-quality, professional service?
Sorry, but probably not.
The experienced professionals get most of their business from people who have done business with them already. Because the lender or agent did a superb job, every time the client hears the word "move" or "real estate", they think of their professionals like you think of Kleenex when you're about to sneeze.
Then they say, "You just have to call so-and-so! She was totally amazing!"
The lenders and agents who can't get business that way, as well as agents who can't attract business through effective marketing efforts, often go to lead generation companies and pay for names of people who actually gave up their contact information.
What are your alternatives? I suggest that if people don't already have an agent, that they assemble a list from the following sources:
- Go to friends or family members who have recently purchased, and ask them it they had a good experience. If they did, ask for their agent's and lender's contact information.
- Look around groups you belong to and see if any members you like and trust are real estate professionals.
- Go to the community where you live (or would like to) on Active Rain. Look at the bloggers in your area and go to their posts. Read them. If their writing gives you a feel for who they are and how they do business, add them to your list.
- Visit Open Houses where you can see agents in action, and if you like what you see, give them your real name and phone number. If they contact you, that's a plus (especially if you are selling - it shows they follow up) or call them.
Once you have compiled your list, narrow it down to the top three or so and interview them in person. And keep going until you find someone fabulous, who makes you comfortable, and when you've found the best fit for you, go for it!
If you think the on-line companies screen agents, they don't - at least not by anything other than zip code and their willingness to pay for the names they receive. Screening lenders and agents yourself isn't all that hard. And it pretty much guarantees a much nicer transaction!
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If you are looking for an agent to help you buy or sell a home in the Washington, DC area, check out my other blog posts. Then, if you'd like, call me at 202-549-5167, and I'll give you the names and numbers of clients I've worked with. Then let's talk to see if we are a good fit!
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