7 QUESTIONS TO PICKING A REAL ESTATE AGENT

Choosing Realtor

By now you know me as a real estate appraiser, but since I have to say something about me on this page, I’ll share some ‘trivia’ with you.  I come from a long line of real estate people.  Five generations of my family have made their living in real estate; beginning before the ‘Great Depression’ with my great-grandfather, the Investor.

Then one of my grandfathers, the Broker, built the largest sales office in our part of Florida from the 1940’s to the late 1970’s. Then my father started out in Construction, building homes and later commercial properties around Florida. After that, he became a Realtor, then a Broker and finally an Appraiser. His last career was the most successful and lasted over 25 years, until he retired in his mid-70’s. My dad started each work day at 6am and he thrived on being the Appraiser.

For myself, I started out in property management by leasing apartments, then moved into management and leasing of luxury condominiums on Longboat Key, Florida. After relocating to Tennessee for my husband’s career path, I followed in my dad’s footsteps to become an Appraiser, albeit three states away. Now I appraise residential and commercial properties in Middle Tennessee. Our older daughter remained in Florida and is building her own real estate company, with a specialty in golf-course and waterfront homes.

Now with all these ‘real estate genes’ coursing through my blood, you’d think I could easily guide you in picking the right realtor for you. But I know how to turn over the baton when it’s appropriate. I read an article awhile back by Noel Peebles that explains the process far better than I could have expressed it. Noel has developed seven questions to ask when selecting an agent. It’s easy to read, easy to understand and – most importantly – the questions are easy to ask! So I have decided to share them with you, word for word. I believe Noel has outlined everything you should consider in making this important decision. Here’s are Noel’s own words:

7 Questions To Ask When Selecting A Realtor, by Noel Peebles

These 7 questions will help you decide who the real estate agent is really working for. Visit any open home and test these questions out on a real estate agent. Good or bad, the answers will reveal something about that real estate agent and his or her ability and true loyalties. If the real estate agent betrays the home seller, they will betray you as well. If they defend the home seller, it’s likely they will defend you too. Ask the real estate agent these 7 home buying questions:

Test A Real Estate Agent By Asking:
1. How much do you think the home will sell for?
You may discover that the real estate agent has an opinion less than the asking price.

Test A Real Estate Agent By Asking:
2. How much will the homeowner take?
You may learn the bottom price that the homeowner will accept.

Test A Real Estate Agent By Asking:
3. Why is the homeowner selling?
A real estate agent may reveal a confidential reason for selling.

Test A Real Estate Agent By Asking:
4. When does the homeowner need to move out?
A real estate agent may reveal an urgent deadline. This could be an advantage in negotiating a lower price for the property.

Test A Real Estate Agent By Asking:
5. How long has the property been for sale?
A real estate agent may reveal if, or why, the property has been difficult to sell.

Test A Real Estate Agent By Asking:
6. Who priced the property?
A real estate agent may be quick to deny any involvement and in some cases may blame the homeowner for being greedy.

Test A Real Estate Agent By Asking:
7. What other homes are there in competition to this property?
This is particularly useful information, so long as the real estate agent gives you an honest answer. Ask the real estate agent to show you some of these competing properties.

These questions are simple and not hard to ask. However, failing to ask these types of questions can put a buyer (or seller) at the mercy of a disloyal, dishonest, or incompetent real estate agent. Buying or selling a home is a big investment for most people; so it is well worth the effort to select a real estate agent you can trust and have confidence in.

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