Real Estate 101 from RE/MAX Regency

Working With Your Real Estate Agent

Selecting the right real estate agent to help you buy or sell your home is essential to
a smooth transaction. For the best possible experience, you should consider a
professional's experience, personality and responsiveness.

Here are some tips to help you choose and work with your real estate agent.

How to choose a real estate agent

1. When it comes to choosing a real estate agent, consumers who do their homework
   can save thousands of dollars and experience a smooth financial and physical transition.
   So don't slack off - decide what is most important to you, and then find a professional
   who specializes in that area. Are you buying or selling a loft? A condo? A horse
   property? Raw land? An investment property? Perhaps cost is your main concern.
   Or timing. Whatever you decide, there is a RE/MAX Regency Associate to help you.
2. Ask friends and family members for referrals.
3. If you've found the general area in which you'd like to move, do an informal survey by
   driving through neighborhoods and viewing yard signs. Seeing the same name pop up
   time after time may indicate that person is a specialist in the area.
4. If you've found the general area in which you'd like to live, do an informal survey by
   driving through neighborhoods and viewing for-sale signs. Seeing the same name pop
   up time after time may indicate that real estate agent is a specialist in the area. If
   you're thinking about selling, monitor the signs in your own neighborhood.
5. Pay attention to credentials. This will help you determine areas of expertise. You
   may be interested in these designations: ABR (Accredited Buyer Representative),
   CLHMS (Certified Luxury Home Marketing Specialist), CRP (Certified Relocation
   Professional), CRS (Certified Residential Specialist) and SRES (Seniors Real Estate
   Specialist). There are dozens of designations pursued for continuing education, so
   identify one or more that fit your needs.

What to ask in the interview

1. If selling, ask the real estate agent how he or she would establish a price. You may
   request a Comparative Market Analysis, also called a CMA, which shows the
   market value of similar homes in the area that are for sale or have recently sold.
2. If selling, ask the real estate agent how he or she would market your property.
3. Ask the real estate agent how often you should expect to hear from him or her.
   Know how and when you will communicate to avoid unrealistic expectations. Pay
   attention to office hours and whether or not you will be invited to stay in touch via
   a cell phone, pager or e-mail.
4. Ask how long the real estate agent has been licensed and how many buyers and
   sellers he or she has helped. While time is not the most important factor, it may
   demonstrate experience.
5. Ask about awards and designations.
6. Pay attention to the agent's listening skills. Does he or she cut you off before you've
   finished a sentence? There's nothing worse than looking at houses you have no
   interest in because the real estate agent has not listened carefully to your needs or
   having your home on the market too long because the wrong buyers are being targeted.
7. Ask the real estate agent what his or her fee structure is. Do they require a percentage
   of the sales price, do they work for a flat fee, or will they be paid another way?
8. If you are unsatisfied with prospects' plans or personalities, thank them for taking
   the time to meet with you, and repeat the process with another real estate agent. It
   is time-consuming to meet with multiple prospects, but it's worthwhile to find the right one.
   
   Once you've found the right real estate agent to represent you, hold up your end of
   the relationship. There are simple things you can do to help your real estate agent get
   you the best deal.

How to work with your real estate agent

1. If you are selling, create an information sheet that lists your home's features and best
   qualities, especially those that people might otherwise overlook. Give this to your real
   estate agent, who may be able to use the information when marketing or talking with
   potential purchasers.
2. When selling, talk to the real estate agent about cosmetic improvements. Your home
   may need fresh paint or new carpet. (Make sure you choose neutral colors.)
3. If selling, keep it clean. Eliminate cobwebs and dust. Keep the bathroom counters and
   mirrors wiped down. Vacuum and sweep daily during the selling process.
4. If buying, be clear about what you want. Make a list of your priorities numbered one
   through 10 and give it to your real estate agent. You can always revise the list, but give y
   our real estate agent something concrete so he or she can research available listings effectively.

Helpful tips

1. Office environment can say a lot about a business person. Are things organized or cluttered?
   Do the office hours make it easily accessible? Is it clean?
2. Your real estate agent is an authority you hire to help you make the right decisions, but you
   have the final word.
3. Hiring a Realtor will give you the best advantage. Although many practitioners work part time,
   RE/MAX Regency Associates are industry professionals who can provide their complete
   attention and expertise. This gives you an enormous advantage.
4. Your residence is likely to be the biggest single investment you'll ever make. Buy and sell wisely.
5. Remember that home values fluctuate with the economy.