Choosing Your Las Vegas Real Estate Agent

Realtor versus real estate people?

All real estate people are not Realtors. The term Realtor can only be used by members of the association. There is some additional education as well as conformance to a code of ethics required. I would strongly recommend only using a Realtor.

 

Does your agent have any written referrals?

Be sure to ask for referrals and testimonial letters. This should include letters specifically for selling or buying homes. Some agents have a natural knack for buying or selling. I would recommend finding out the agent’s ratio of buying versus selling a home.

 

Referrals versus Confidentiality.

If you ask for the names and numbers of past clients for referrals, there is a confidentiality problem here. Client information is supposed to be confidential. This is why written referrals are a common practice in the industry. If a agent provides names and phone number without prior consent of the past clients, this may be a agent you do not want to work with in buying or selling your home.

 

Is your agent a residential expert?

How well does the agent know the neighborhoods? To fill the specific residential needs of home buyers and sellers, I would recommend selecting an agent that is familiar with the area. You want an agent that, not only has lived in the area, but is active in the neighborhood events. Make a list of things that are important (i.e. schools, transportation, churches), and make sure they are familiar with your requirements in the selected area.

 

How many homes has your agent SOLD in the past 2 years?

Another thing to make sure of is that the agent you select has a strong personal sales record. This shows they have the skills, knowledge, and experience to get result. How many sales transactions has the agent personally (not company) completed in each of the past 2 years? Make sure the number provided is the sales and not transactions including purchases. Some agents excel more in selling then purchasing, or the opposite. How do their sales compare to the industry averages in the area?

 

How many buyers does your agent currently represent exclusively?

Don't ask for anything less than extraordinary service. Make sure your agent has the time and dedication to your needs. Your agent my have too may clients at one time, and your needs may get lost in the shuffle.

 

Do they have great accessibility?

Does the agent have a pager, voicemail, and/or cellular phone? This is critical when time is not on your side and a quick yet effective means of communication is necessary.

 

Are you comfortable with your agent?

Buying or selling a home is one of the most crucial financial transactions of your life. It can be a confusing and sometimes difficult process. It does pay to leave as little to chance as you can.

Does the agent have the qualities important to you?

Integrity, market knowledge, and thoroughness, are characteristics of someone who succeeds where others have failed.

 

Interviewing Agents on the phone first

This is a good way to eliminate some of the agents before you have spent too much of your valuable time with them. When calling, don't always expect the agent to be in the office, you may have to leave a message, and have him/her call you back. The reason is that the agent you want to choose is most likely to spend less time in the office, not at a desk. Call at least 6 people until you have least 2 or 3 likely people you feel comfortable enough to handle all aspects of your home.

 

Questions to ask on a phone interview.

1.      How long have you been in the business?  If less than 2 years, you may consider another agent.

2.      What type of license do you have? If they respond with a type of broker’s license, (the exact name varies by state, usually broker, associate broker, broker-salesman, etc.) you are on the right track.

3.      If they respond with an agent’s license or a salespersons license, this may be a warning flag to consider another agent.  If they respond with the answer "licensed Realtor" is a concern. The term Realtor is a designation, not a license. The reasoning behind this is that an agent’s license is relatively easy to get, whereas a broker’s license requires additional education (usually more experience).

4.      Are you a part time agent? Would you want to work with someone that is part time agent? Actually, how many part time doctors have you met?

5.      What additional education pertaining to Real Estate do you have? Any additional education beyond a simple licensing course such as GRI, CRS, or possibly a B.A. or better in real estate. Any of these is an indication that you're dealing with an educated professional. However, some people are great at passing a test, but fail in the business world. Don’t base your entire decision on awards alone.

6.      Where do you get most of your clients from? A good answer is personal referrals. A satisfactory answer is advertising.

7.      Can you come over right now? If yes, keep in mind most top agents will be busy and will need to schedule an appointment with you.

 

The SECOND interview of an Agent

·        Narrow the qualified agent list down to 2 or 3 agents after selecting several agents that have passed the "phone interview" (at least 6 agents).

·        Invite them over to your home. As you invite them over to your home, make sure that they know this is a second interview, and that you are not promising anything. Take this opportunity to get a feel for them as a person and as an agent. I went through several agents before I found the one that met all of my expectations, and I never felt disappointed with my Realtor's performance.

·        When you make appointments for the agents to inspect your property, allow at least one hour with each agent.

 

Things to prepare and expect during an agent interview

·        Treat this first meeting like a job interview. The agent is applying for the job to sell your home.

·        Provide a tour before discussing anything in detail. It’s nice to be familiar with your property before being able to discuss it.

·        Expect the agent to do homework about your home BEFORE they arrive for the first contact. They should have already obtained a great deal of information on your home before they arrived. i.e. - taxes, age, square footage, schools etc.

·        Point out any improvements you've made, as well as any defects that you know about. Be honest. It's best that your agent has accurate information to advice a possible solution or prepare for any problems that may arise.

·        For home improvement referrals, I would also recommend shopping around. Your agent maybe getting kickbacks from referred contractors. It’s always best to have at least 3 estimates. Please see our contractor referral section for more details on selecting a contractor.