6 Tips to Hire the Right Real Estate Agent
There’s no doubt about it. Buying property — whether it’s your first home or an established business — is a hallmark of the American Dream. But thanks to today’s economy and volatile real estate market, there are as many risks as there are rewards.
Which means, when it comes to hiring a new real estate agent for your company or firm, there are numerous factors to consider. A trusted and experienced agent will help clients cut through the hype and earn themselves and your company a healthy commission. Here are six tips to help you select the ideal agent for your team.
Rule No. 1: Don’t get scammed. Easier said than done, right? The simplest way to protect yourself from an unscrupulous real estate agent is to check their legitimacy. Visit your state’s bureau of real estate agents’ website and verify a potential agent’s license. You will also be able to see any complaints and also list your own. After all, the last thing you want is for your company’s reputation to be tarnished by one of your agents.
Experience in any industry is a plus — but in real estate, it can mean access to exclusive properties and pricing. If a realtor has worked in an area for more than five years, it’s likely that they will be very familiar with the local opportunities and price ranges. Look at what locations you’d like to expand to and see how agents have performed in those areas.
Spy Current Listings
You only shop at stores which carries merchandise you like — so why should it be any different when it comes to real estate? Start your realtor search by finding which properties they currently have listed or have recently sold. Doing this will help you determine their typical price range and selection. And it can also help you fill any holes that you might have in your company’s current portfolio of properties.
Choose Award Winners
It never hurts to be associated with an award-winning realtor. Real estate honors are typically designated to individual agents by larger, established agencies. While these accolades may not necessarily be formal, they do tell buyers who are the highest-performing agents in a local community. Plus, it makes your entire company look good and is a great conversation starter for potential property buyers.
Learn Marketing Strategy
Every real estate agent has his own strategy for finding or selling homes for clients. As a hiring manager, pretend to be the client, and ask the agent about how they interact and operate with clients: delve into how they find new listings, how many properties one might expect to see before finding “the one,” and how they deal with multiple offers.
Ask What Sets Them Apart
This is a classic interview question that works when hiring for any position: Why should I hire you? While there is no one correct answer, if the agent is good at her job, she will be able to cogently articulate all the ways she is best suited for the task. Depending on what your company is prioritizing at the moment, you may want to look for someone who is assertive, skilled at negotiations, or extremely responsive.
By following these six tips, you will feel more confident and prepared as you bring on board new real estate agents to expand your firm and represent your brand.