Cookie McCullough - Northern Michigan Real Estate - Traverse City Real Estate

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CHOOSING YOUR REAL ESTATE AGENT

Record-Eagle, February 17, 2007 Cookie McCullough

You’ve heard the term, “You get what you pay for,” and that doesn’t go wasted on real estate agents as well. Many sellers would love to get through transactions themselves, without any help from a “middle man,” to save the commission dollars. It sounds like it makes sense, “Hey, why pay thousands of dollars of your money to sell a house when you can do it yourself?”

Licensed real estate professional bring state-mandated training and knowledge to the table for buyers and sellers. In fact, agents have to get as much, or more, training than what it would take for some college degrees before being given permission by the state to represent buyers and sellers in real estate transactions.

Consider using a REALTOR® (a trademark used by members of the National Association of Realtors), not just a licensee. You will know that you will be working with a professional who is taking their career selling real estate seriously and who adheres to a strict code of ethics.

While full-time status is generally accepted as a better deal than part-time status, especially when the market calls for that extra effort, there is some disagreement over the level of experience or accomplishments your agent should have.

Real Estate Agents Are Knowledgeable About Various Aspects of Real Estate such as:

Helping You Buy a Home – making your home buying process simple and enjoyable. Agents will help present you as a preferred buyer. Using today’s most powerful real estate technology, they will help you search for homes that fit your personal criteria and then walk you through the buying process.

Writing The Offer - - once you find a home, the next step is to write an offer – which is not as easy as it sounds. In an offer to purchase, you include not only the price you are willing to pay, but other details of the purchase as well - - such as inspections to be performed, timetables, any personal property that might be included in the purchase, and terms of possession of property.

Helping You Find a Lender – strengthening your negotiating power and recommending that you receive a pre-approval letter or approval letter from a lender. Finding what you qualify for early will save you hours of unproductive time viewing properties that you may not qualify for in the end. By including a pre-approval letter with any offers you submit, the sellers and their agent will recognize that you are a serious buyer.

The Inspection – most offers to purchase contain an inspection contingency outlining the inspections to be performed. General home inspections are usually performed by “home inspectors.” The purpose of a home inspection is to find any unexpected defects. It is not to form a “honey do” list for the seller.

Working with Sellers or Buyers Through the Entire Buying Process – pre-qualification, submitting the offer, all the way through the closing and until possession, agents are there every step of the way to ensure a pleasant and successful experience for both sellers and buyers.

Offering Comparative Market Analysis (CMA) - - a financial breakdown of recently sold and currently listed properties similar to yours in location, floor plan, square footage and other details. The CMA assures you that you will get a competitive price tag placed on your home rather a pie-in-the-sky price or a “low-baller” looking to lure multiple offers.

Pricing Your Home - - It is vital in a slowing market that your home is properly priced when you first put it on the market. Homes that are ideally priced right from the start will sell more quickly, often with multiple offers. Homes that are overpriced, sit on the market much longer and end up having price reductions. One of the biggest mistakes I see sellers making today is in allowing their listing to be “bought” - - making their hiring based on which agent’s estimated price is highest.

Marketing Your Home - - a history of more print advertising does not mean a particular agent is better at marketing. In fact, excellent marketing may not include any newspaper or magazine efforts, depending on the media available. Dollar for dollar, many agents have better success with specialized signs, 800 numbers and special virtual tours.

Don’t Forget the “Click Factor”. You need a real estate agent whose personality clicks with yours in a symbiotic relationship that allows constructive criticism, debate and cajoling. Your listing agent is the expert, but you are the boss handing out the paycheck. You want an employee with whom you enjoy working, but who can put his or her ego aside to get the job done based on mutual respect and agreement - - that means give and take!