Expert: Karyn Foley - 5/24/2005

Question
How does one go about looking for an agent?  Are there any keys to look for?  Any signs?  Thank you.

Answer
Dear Miguel:
 If you are considering listing your home, look around and see what top three agents and/or top three companies are the leading ones in your neighborhood.
 If you are seeking a new home, drive around the areas of choice and make the same determination.
 Then, call the three agents and ask them to sit down for an interview.  If you are calling three different companies, ask for the manager and have the manager recommend the agent who knows your area best.
 Have the agents tell you how long they have been working in real estate, and if they are a full time working agent.  Ask them how many homes they sell each year approximatelyi.  Keep in mind, the inventory has been low in many communities so many of them, while successful, have less sales to their credit this year and last year.  They should, however, be at the top 10% of their company.  Sometimes the very top agent is just too busy with just too many customers, and they cannot give you the personalized attention you deserve.  So you may do better with some one who is number 2, 3 or 4.
 If you are listing a home, have the condidates give you a personalized marketing plan, and commit to a program of advertising, both in local papers and in major city paper.  Discuss the broshure, the feed back they receive from other agents and clients, and how many open houses they plan  to schedule, for the agents and Sunday open houses for the public.  Make certain that they are aware of the dynamics of your community, the schools, local laws, and so forth.
 If you are seeking a new home, the agent should let you know their expertise in obtaining new listings the moment they are signed up, plus their own familiarization of the areas, schools, businesses, and so forth.
 What is very important as well, is how you feel about the company, how you related personally and professionally with the agent.  Also, ask friends and neighbors who they would recommend.  Many tines the same company or the same agent's name comes up more than once.
 Plus, sign up with an agent for no more than three months.  Or, a six month period with your unilateral right to cancel if you are not pleased with their performance or the results of their efforts.
 During this period, you should also shoulder the responsibility to keep up with the market.  Even though your agent is expected to keep you aprised of the new listings, sales and current market conditions on at least a weekly basis, you should also read your local and major paper on a regular basis.  Real estate is on everybody's mind, so the papers are filled with important information.  Keep track as well of the interest rates, because of they rise then it could be that prices will decrease.  
 The summer is a busy and active market, so if you are a seller, now is the time to begin.  If you are a buyer, you may face increased competition although it may be compensated by an increase in properties made avilable.  Sometimes buyer do better at the end of the year during the holidays when less people are concentrating on real estate.  This is something you have to determine yourself, and "play it by ear".
 If you are a seller, in addition to a market analysis of your home and area, consider having a home inspector do a pre-sale inspection, and get your termite and pest control inspection done before you list.  This way, you know what you have to lay out when the house is sold.  If you are buying, make certain that you have a home inspection contingency, and have the pest control work handled - the former is your expense, the latter usually is paid for by the seller.
 So when you read this response, pick up your car keys and go to your local book store and begin your education.  The more informed you become, the more you will understand your agent and command his or her respect.
 Good luck to you!
KARYN FOLEY