Ok, the Holidays, and Superbowl, are Past....

With the distractions of these big events out of the way, you can revisit you plans to sell your home. But, how do you choose a competent Agent to represent you? Here are some guidelines you might want to think about.

How To Choose A Realtor

By Nancy Canfield

Referrals

As Realtors, it is paramount to Ethics requirements to do our best for the client we represent. But how can you predict who the best person for your needs will be? You may get all kinds of postcards in the mail that look great. You see ads in the paper, or a sign For Sale down the street. But stop and think about it, whenever you are going to make a major purchase, change doctors or dentists, choose your children’s school, don’t you ask someone whom you know and trust for a recommendation? This is probably a better approach than a glance in a phone directory, or an Ad in the paper.

Licensed

Expect candidates should be licensed by the CalBRE, (California Bureau of Real Estate), and members of SDAR, (San Diego Association of Realtors). These are the agencies that regulate Agents in California and San Diego County. They perform fingerprinting, training, and ongoing testing to ensure Agents are safe and have the basic competence to do the job. Sandicor® is San Diego County’s Regional Multiple Listing Service (MLS), and Licensed Realtors must be members in order to access their database. 85% of homes are sold through the MLS. That is, a Sandicor member can list a home for sale in the MLS, and browse the MLS for homes to show clients, and to assess value of properties. Agents should have Errors and Omissions Insurance because mistakes can happen, and both you and the Agent should be protected.

Experience

As with all jobs that have serious consequences, both financial and otherwise, you want to ensure that you choose someone with experience. Experience comes from doing the job. Doctors usually take 12 years before they can practice medicine as a full doctor. They have 4 years of college, followed by 4 years of medical school, followed by 2 years training under a qualified doctor, not just filling out prescriptions and taking pulses, but increasing their hands-on experience. The consequences of their making a mistake could be considerably higher than buying or selling a house, but your house could be the biggest financial transaction of your life, and there can be legal ramifications for mistakes.

So what should you expect Agents to know about, or at least have an expert resource for in their extended team:

Appraisals

Current Laws

Disclosures

Documentation

Escrow

Inspections

Marketing of the home

Neighborhood Statistics

Negotiating

People skills

Lending

Staging for sale

Title

Wood Destroying Pests (Termites, Wood Rot, Fungus)

Teams or Not?

Speaking of Teams, you may feel that when you hire a team, you don’t get the services of the
Agent you chose, but rather someone less qualified, who frees up your Agent to secure new business. A building contractor has a whole team of people working with her - electrical, plumbing, finishing, roofing - but she is responsible for the workmanship, safety, and client satisfaction. Likewise, an agent.

An Agent who works alone has a less visible team of reputable Title, Escrow, Lending, Termite Inspection, Home Inspection, and Appraiser, to work or consult with. As with the contractor, these individuals have expertise that are often licensed and regulated, and have years of experience. Your agent is responsible for their results.

Real Estate Companies

What about the Company the Agent works for, how important is it? That depends. A small company with a sterling reputation is at least as valuable as a large company that gets a lot of criticism for being too lax. Why I chose Windermere Homes & Estates is because their standards are strict about ethics, legalities, and client care. They provide extensive training almost daily, to help ensure agents don’t make errors, or provide slipshod work. The SD Business Journal publishes an annual Directory of Real Estate Agencies, and is a great resource for your selection.

What Will this Representation Cost Me?

Agents are not regulated for what they charge, but the market has some bearing. In a market where an agent can get all the business they want, they may charge 6% (3% for buyer’s agent and 3% for seller’s agent). For the higher commission, they may provide extra advertising and for higher priced homes, advertise in more expensive magazines. They may offer staging, cleaning, and/or repairs. At the lower end of the spectrum, you may see an agent advertising 1%. That is what the agent will receive for themselves. They may recommend an amount you should plan to pay the buying agent, usually 2 ½ % as a minimum. Their fee may include listing your home in the MLS under their membership, and “advice” to seller how to do an Open House, stage the house, and tell them where to buy Open House signs. Be sure that, in any scenario, you understand what they will and won’t do for the commission you pay them, in any case. Be sure everything is covered in the contract, preferably from the California Association of Realtors.

References

Lastly, you should ask for a list of references of people whom the Agent you are considering has helped buy or sell a home recently, say, in the last year. You want to know that the Agent did a good job. Ask that reference to give examples of how the agent handled an unusual circumstance from one of the categories above. Satisfy yourself that you have made the right choice. Perhaps interview two or three Agents before making a choice.

Naturally, there are many more aspects to buying or selling a home, but I believe the above guidelines will certainly get you headed in the right direction.

If I can answer any questions for you please email me at NancyCanfield.realtor@gmail.com

Call or txt 619-871-9333, or visit my web site at www.NancyCanfield.com. You can browse all of the homes in the MLS system and use a mortgage calculator to figure out your payment at different interest rates and down payments. Check out my blog for interesting articles that may be of help to you, and Testimonials from clients I’ve worked with. Also, check me out on Facebook. #CaBRE628323

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