Did you know that Orlando has over 8,500 registered REALTORS? How many are actually good?
It used to be that you could usually find a trusted advisor in a REALTOR, but with more and more inexperienced agents in the business, how does the consumer find the right agent? It's more than just experience. It's character and education for the most part. Many buyers and sellers "end up" with an agent instead of choosing them. I have been involved in numerous transactions where I have wondered how in the world did this buyer or seller end up with their agent. Truth be told, many buyers simply call off of a sign and work with the first agent that picks up the phone. That is amazing to me. The biggest purchase most of us will ever make, and we leave it to chance or luck of the draw! Just because an agent manages to get a listing, does not mean they are qualified to help you purchase a home. The dirty little secret about real estate is that agents learn as they go and rarely do agents come right out of their educational classes to get the license, knowing the in's and out's of real estate. Statistically, most of the complaints from buyers and sellers about agents, has to do with agents with 3 years or less experience. Don't be fooled by a company name either. Sadly, a new agent can join a major franchise and have access to the same marketing and promo materials to make them look like a 15 year vetran. That does not make them an equal agent anymore than me putting on scrubs and saying I am qualified for brain surgury. Do your homework! Ask for credentials. Ask for past clients recommendations or other referral sources. A good agent will have a list of people to talk to. A good agent will know their stats and be able to produce them. There is a lot of talk that goes on with agents, but a good agent will have the facts to back up their claims. I find the best way to get a good service person is to ask a person you trust for a referral. This not only helps you locate a person they have done business with, but it also makes that service person work extra hard to help you since they know you were a referral.
You should also look for an agent who takes the time to market their business. If they don't spend a dime on marketing, chances are they are either not able to afford it and are desperate for cash, or they don't care enough about their business to do so. A good agent will spend at least 10% of their income towards marketing. Having an agent that is desperate for cash is not a person you should have representing you. Let's think about that. If your agent is desperate for a sale, don't you think that puts them in a compromising position to get your sale pushed through? Do you think they would say just about anything to get the deal done? Look for an agent with a steady flow of business. It's the same concept as not going to the grocery store when you are hungry!
If you are selling a home, make sure your agent has experience. It's great that you have a friend in the business or a family member that just got their license, but make sure they are qualified (see above) and know the process. Once you hire them, make them show you your listing and the marketing. Don't just take their word for it. I hate to say it, but many agents will lie through their teeth about what they are actually doing, just to get a listing. Make sure they are a good negotiator. A difference of a a percent or two may not sound like much but when you are selling a home, you want to get every dollar you can out of the home. Make sure your agents spends money to market your home. Ask them how much they spend. A good agent will know. They will also have systems to market properly. Take it a step further and ask if they are a certified agent. Have they had a background check? Sounds simple, but most consumers don't verify who they are working with. It's important.
The bottom line is simple. Take your time and make good choices. Do your research. Google your agent and see where they rank. Ask for references. Don't make an emotional decision and once you do hire the agent, make sure they do what they said they would do. If they don't, fire them. By the way, a good agent will rarely ask you for a cancellation fee if you cancel the contract. There are exceptions, but if your agent wants to charge you a 1% cancellation fee, you should be wary and ask why. I don't know many jobs where you can get away with getting paid for not doing your job!
If you want to find a CERTIFIED agent to help you buy or sell, go to www.parentrelocationcouncil.org. These agents are all certified and background checked. PRC is building a network of quality agents across the nation. They can't buy their way in, they have to pass inspection! The agents are reviewed after each transaction as well and if they don't perform, they are out of the organization.
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