Imagine that you need complex surgery and you have an amazing insurance plan that lets you choose your doctor from among every surgeon in your city. Not only that, you will pay the same amount for whomever you choose.
Would you decide on a fresh-from-residency or part-time doc or surgeon who has been cutting people openly for decades, with a proven track record of the type of operation you need?
While selling your home is not a life or death proposition, it is a worthwhile financial transaction and the ability to take the time to do the necessary research.
1. Ten years of silence
After studying thousands of symphonies produced between 185 and 10000, John Hayes, a psychologist at Carnegie Mellon University, compressed the 500 into what is today considered “masterwork.”
Hayes referred to this decade of hard work and education as “10 years of silence” and saw it as equally applicable to famous poets, artists, and others.
Another study claims that to be an expert in any field you need to work at least 10,000 hours (K. Anders Eriksson and Malcolm Gladwell).
But that’s more than just showing ten years or 10,000 hours (seems like a warranty, doesn’t it?). For the most part, being an expert requires deliberate practice.
Kobe Bryant can walk on the basketball court and make the game easier. However, he did not hold more than one world record in his part-time job. In the off-season, Bryant spends at least six hours a day, six days a week, for six months in deliberate practice.
The real estate listing agents work only on weekends and do not become expert marketers and negotiators. Taking the time to study the current housing market and local economy for the skills and top dollars needed to sell your home quickly, they are learning how it affects their customers and their real estate. They have used various negotiation techniques over the years and have perfected this aspect of their business. They inspect the current crop of available homes instead of relying on MLS. Photos of their comparisons.
Now, the best-listed agents are not always experienced and they don’t all work full time. In fact, rookie listing agents usually work on their first few transactions with their brokers so that you actually benefit from the broker experience. But if your transaction is complicated, such as selling a luxury home, making a small sale, or listing a farm or farms, you should rely on a listing agent with a lot of experience.
2. He is happy to answer questions
How well do enrollment agents handle your queries? Even homeowners who have sold a home before listing and asking questions about the sale process. A professional agent will take the time to answer this question in his English and make sure you understand the whole process.
3. The agent has a plan, and it proves to work
A listing agent has a lot of work to do, from the ink drying in the listing contract to the final walk-through. The most important of these, especially in slow markets, is marketing. Make sure the agent you hire has a proven marketing plan and funds to implement it.
Ask the agent for a printout of the last three lists and check out the photos – they should be clear, interesting and they should be plentiful. See the agent’s comments about each listing. Do they tempt you?
The agents you are interviewing can use a variety of strategies to list your home, from raising the price of the home.
Everything you knew before you called the listing agent
I am interested in a home found online. Should I call the listing agent and arrange a visit?
Nowadays, many home buyers start searching their homes from the comfort of their own homes using online home search tools. These sites conveniently provide contact information for a home sales agent so you can schedule a home visit.
Sites that don’t tell you conveniently (and often, neither do agents) are that if you see a home with a listing agent, you may get stuck working with a listing agent.
This is not a good idea from the home buyer’s point of view because the home buyer will not protect their interests through negotiation, inspection, and inspection resolution, and closure. There is an inherent conflict of interest between a dual entity (where an agent represents both the buyer and the seller). Weak protection for buyers through this approach has created the need for exclusive buyer agents.
If a listed agent shows me the house they want to buy, am I obliged to work with them?
Even if you do not sign a written agreement with the listed agent, it will be very difficult to change agents or work with an exclusive buyer’s agent at this time. For one thing, it violates the rules, and for another, there is the problem of “gathering cause”.
“Purchase because” is basically a payment problem. Traditionally, half the list of commissions is reserved for the agent and half for the buyer’s agent. If a home buyer has seen a home with a listed agent, the listed agent may hold a commission that would normally pay to the buyer’s agent.
It then presents you as a hesitant home buyer. You want representation, and someone to protect your interests. But, the commission being gives to someone who is protecting the interests of the home seller.
I have seen a home with a listed agent but I want a home buyer agent. What can I do?
Find, interview, and sign an agreement with the buyer’s agent you trust before visiting the house with anyone else. But, once the damage does, there is still hope!
The “cause purchase” is quite complex and has some gray areas. The best way to do this is to allow professionals to do it. Your buyer’s agent can specifically discuss your case with the listed agent. Come up with a solution that protects everyone’s interests.
The best type of agent to protect my interests as a home buyer
Buyer agencies introduce to protect the interests of home buyers. There is a conflict of interest when a listing agent represents the seller. For example, during the discussion: the seller wants the possible selling price, the buyer wants the lowest possible price. How can a person represent these two conflicting interests?
The best kind of representation for home buyers is to work with an exclusive buyer agent. An exclusive buyer agent does not have its own list, which eliminates conflicts of interest and provides maximum protection.