The Right Real Estate Agent
The Right Real Estate Agent. Whether you are selling or buying real estate, the first relocation idea is to call a real estate agent. But which one is the right one?
SO MANY TO CHOOSE FROM
In 2019 over 2 Million licensed real estate agents were active in the United states. Of the 119.7 occupied housing units in the US 5.34 million were sold last year. Many of these sold homes had licensed real estate agents on both sides of the sale, one for the seller and one for the buyer. This means that if every real estate agent got there share, each real estate agent would have be on one side of the other of 5 residential real estate transactions. www.nar.realtor/research-and-statistics/quick-real-estate-statistics
That isn’t actually the case. Like in many industries, the top 20% have most of the clients and experience. The average licensed agent is then party 1 or 2 transactions a year. That is not a lot of experience and exactly what my mother has found relocation after relocation over the years.
Rather than interviewing and hiring agents she was assigned one. In her 7 moves, she only had one good real estate agent. I question that because the one she is referring to is me, and I had only had my license a year or so at that time. With each relocation, she struggled to find anyone to help her figure out communities and match the needs of the family to the area. Rather she felt alone and telling the agent how the current buying process was going to go. Their lack of experience would put the contracts in jeopardy. Their lack of home ownership meant that there were few that could understand looking for a home from personal experience.
It is hard to find a good agent when there are so many and so many that are new.
WHO YOU ARE / WHAT YOU NEED
Who you are and what you need is one of the hardest things for real estate agents to figure out, let alone use to the buyer/seller’s advantage. Real estate agents are trained in contracts, real estate law, broker processes and then given a background check. They are not trained in clients.
Because of this as a real estate client it is imperative that who you are and what you need is well defined and easily communicated. The needs are not 4 bedrooms with a pool in the backyard in a good school district. The typical real estate agents will ask those questions for their search criteria. What they will not ask is about how the family lives, personal values and individual needs beyond the real estate.
Most buyers will tell an agent, “I will know it when I see it.” As confounding as this is to most agents, this is the one undefined directive that makes all of the difference. It sets up both real estate agents and buyers for failure, though most try to make it work.
See, it is not just the 4 beds and a pool. It is the “feel” of the neighborhood OR
- Are there neighborhood parks?
- Are there kids at the park?
- Do the adults look friendly?
- Does everyone keep their lawn well trimmed?
- Are there extra cars on the streets?
Each of these questions will mean different things about the neighborhood and their ability to adapt and become part of the neighborhood to different clients.
Well trimmed lawns could mean uptight neighbors to some, while others could make it mean respectful neighbors worth knowing.
Helping the real estate agent know who you are helps the pre-evaluate neighborhoods, schools, and communities in the way that you think would be easiest to adapt to.
YOUR MANAGEMENT STYLE
Your management style is one of the most important aspect of you and your spouse to communicate to potential real estate agents before a contract is signed. A managerial conflict between client and agent can derail a real estate transaction.
A quick way to help potential agents to understand how you want them to work with you is to choose one of 4 career types to illustrate how you work.
Engineer ~ Teacher ~ CEO ~ Artist
In order for the partnership to be easy and successful the real estate agents need to adapt to the clients’ management styles. These management style dictate the types of communication, types of information and involvement needed as well as how much and frequency.
Some will want control where as others like artist will want almost complete delegation. The engineer will want all the information before each decision is made while the CEO will drive an initial plan and expect it to be executed exactly.
Explain up front what you expect before they are hired and put it in writing for everyone.
THE RIGHT REAL ESTATE AGENT
Not just Good or Competent
During relocation a family does not want good or competent, they need the right real estate agent. One that see what the family needs almost before challenges appears. One that knows the relocation process beyond real estate. One that knows their contract, partners and systems and keeps it running like a clock. And finally, one that adapts to the management style of the family.
First time relocating families do not realize the role the right real estate agent plays in their relocation. These effective agent orchestrate a series of processes almost flawlessly through managing people that they have no authority over. They do this through effective communication, partner accountability and adapting to the needs and management style of the buyers.
The right real estate agents have both hard and soft skills, each of which are required to manage a real estate transaction.
- Contract Knowledge
- Marketing Research
- Sales Training/Experience
- Partner Management experience (up to 10 different partners)
- Project Management
- Critical Thinking
- Emotional Maturity
- Conflict Resolution
- Adaptable Positive Attitude
What is most important and how will they demonstrate these things before the contract is signed?
Thinking ahead and putting this together help the relocating family create a partnership that serves them when they are directly participating and when the partner is on their own.
…and this is just the beginning!
The 3 Step Relocation Workbook goes into detail as to what you need to know in order to relocate well. And it is FREE!!