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Internet Technology Advice for Real Estate Professionals

Blog by Julie Ryan
Alabama

I regularly get stopped around my office with questions from other realtors regarding how to build and market their internet presence. I will be using this blog to share my ideas and information that I have found.

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Internet Technology Advice for Real Estate Professionals

8 Questions to Ask Your Real Estate Agent

May. 27, 2007
Categorized in: Real Estate

 

I ran across this article geared towards those seeking an agent, and I wanted to address the questions that it tells you to ask.

This article stood out to me because recently I did have someone write an email to me asking me several of these questions, some in a way that I really wasn't sure what they were asking for what they were looking for.  Now I know.

1. How long have you been in the business?
"Pretty much any average person could decide they want to get their license today, and have that license in their mailbox a month later. Because of this, your Real Estate Agent's experience is VERY important. A new Agent will learn a LOT their first year, and will continue to learn more with every transaction. Don't automatically choose against a newer Agent - they typically bring a lot of energy to the transaction, and they will have LOTS of time for you. However, if you do decide to use a newer Agent, make sure they have a great support system behind them."

As of today, May 27 2007, I've been in the business 1 year and 5 months.  I did learn a LOT my first year in the business and I will continue to learn more about this business every day.  Even 10 years from now I will probably encounter issues in this business that I have not encountered previously.  I had a great first year and I see several reasons why that was the case: 1. I did some homework before getting into this business.  The quote above is right it is TOO easy to get a real estate license and because of that many people think that they can just jump in.  However, while it's easy to get your license it's not cheap and most people are not prepared for what they will experience in their first few months nor are they prepared for what they will spend.  Most agents don't last their first year, let alone their first 6 months because they were not prepared.  Only 1 in 5 agents are still standing after their first year.  Prior to getting my license I did a lot of research, I took the time to read MANY books on what to expect and what I needed to know as an agent.  Sadly, most of the other people who surrounded me in my classes were only reading the book they were given to study for the license exam.  The license exam only ensures one thing that you have a basic grasp on terminology and law related to real estate in the state you live in.  It gives you no real information about how to do the job.  There is no business where you can just pass a test and do the job, you have to take the time to learn what you need to know, and while you can learn a lot through on-the-job training, you can learn a lot more if you are prepared for what you will experience during that on-the-job training.

2. Are you a Realtor?
Not all Real Estate Agents are Realtors. Members of the National Association of Realtors have to adhere to a strict code of ethics, or otherwise face having their membership revoked. Also, you must be a member of the National Association of Realtors to have access to the MLS (Multiple Listing Service) which is what gives Realtors access to almost every home for sale in their market area.

In this area (North Alabama - specifically the Huntsville/ Madison County market) ALL agents are Realtors. If you join the local association then you are also joining NAR and to have your license here you must join the local association.  So, YES, I am a Realtor.

3. What certifications do you hold?
There is an "alphabet soup" of advanced certifications that Real Estate Agents can earn. While it doesn't automatically mean that they are a good Agent, it does mean they are serious about their job. Keep an eye out for GRI - this is the most time consuming certification to obtain.

While most agents that you talk to only get the education that is required - typically 15 hours of CE every 2 years - I try to get every bit of education I can possibly find, whether I "need" it or not. I feel that I need and can use any education I can get.  That said, any certification I can get, I will get not because I want the letters but because I hope to learn something from the classes that I take to get that certification.  Some certs require nothing more than classes, while others have base sales requirements along with classes.  I currently hold two designations, e-PRO and ABR, and am working towards my GRI.  As the quote above states it is time consuming and since they only offer the classes for it locally every 2 years, it will probably be another year before I finish it. I took half the required classes when they offered it here a year ago.  I am hoping to travel this fall to take a few more classes and finish the certification up by mid-2008.  I will obtain other certifications as the classes are offered to me and as my sales meet the qualifications.  I expect to obtain the CRS designation by mid-2008, as well.

4. What is your specialty?
Real Estate Agents typically categorize themselves as either "commercial" or "residential" which are vastly different. Even among Residential Real Estate Agents, though, agents will specialize in Buyers, Sellers, or Renters. Some Residential Agents successfully handle Buyers & Sellers, but make sure they come with plenty of satisfied customers. Agents typically cut their teeth working with renters.

I specialize in residential real estate, I especially enjoy working with buyers of any level.

5. Can I have a list of past customers?
Take the time to call a few of an Agent's past customers. Ask for their strengths and weaknesses (and make sure they don't share the Agent's last name.)

I really don't like this question.  While I do have Letters of Recomendation from many of my past clients, I do not feel it is ethical to give out my past clients names and contact information.  It is part of our code of ethics that we provide our clients with loyalty and fiduciary, the same as lawyers and doctors provide to their clients.  I will be happy to provide you with copies of my letters of recomendation, but just as I don't want my phone number and contact info being given out I wouldn't give out yours.

6. Who is your Broker? Can I call him/her?
Real Estate Agencies are moving towards the "mega-brokerage" mentality which means that many Agents today have never met their Broker. If an agent doesn't have their Broker's cell phone number, find out who they will call if they run into questions.

My broker is Larry Perrault and yes please do call him.  I can't even imagine working for a brokerage where I didn't see my broker on a regular basis and where I couldn't walk into his/her office with any question at any time.  That, I am happy to say, is exactly what I have with my broker and that is why I chose them.  When I first got my license I interviewed at over a half dozen brokerages.  Most of them had brokers who were so busy out selling property, how could they possibly be there to help me when I have questions?  That is not the case with Larry, both he and his wife, as well as many of the other agents in my office are always there to help or to answer any question I have.  So, I know that no matter what issues I come up against, they will be there to help me through them.

7. How many sales did you complete last year?
A good agent will complete at least 25 sales per calendar year. You want to make sure that the agent helping you through the largest purchase or sale of your life is a GOOD agent.

I only completed 13 sales last year, however it was my first year in real estate, and that was my goal.  Everything I have read states that the AVERAGE agent does 12 sales a year.... that takes into account a lot of agents who do NONE.  I believe that there are many ways that you judge a good agent, but that it goes to more than just how many transactions they completed. I know many agents who will take any listing just to have listings, guess what? If you take enough listings you will sell more houses, and quite often those sales had nothing to do with how well you did your job.  My goal for year 2 is 24 sales, I don't know if I will meet it simply because I've had a lot of distractions the first half of the yaer (new marriage and all), but I am working towards it.   The most important thing for me is that I give every client my complete attention and if I'm working with more clients than I can handle then there is no way that I can do that. 

8. Is this your full-time job?
It always surprises me how many people are willing to let their office mate down the hall handle the purchase or sale of their home. You need someone who handles real estate transactions full-time, day in and day out, to make sure that your best interests are taken care of.

Yes, this is my full-time job.  There is nothing that annoys me more than trying to work out a sale with an agent who doesn't have time to answer their phone or return phone calls.  We all get busy sometimes, we all have lives outside of our business, but I will tell you that no matter what is going on with me I will find time to return your call and answer your questions.  I do work a pretty standard schedule and I don't work 24/7 but I will be there when you need me.

 

 

 

 

 

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