With all the REALTORS running around these days it’s hard for a consumer to decide which one is best….and who all these companies are. Used to be we knew who the major players were in the real estate market:
1. RE/MAX: known for top producing agents that paid a fee for their office space and got 100 percent of their commissions.
2. Coldwell Banker: Good Training for their agents and have a good reputation.
3. Century 21: Good training for their agents and have a good reputation.
4. Sotherby Realtors: every major city had at least one office and the agents in those offices tended to sell the higher priced properties.
Now we have almost 14,000 agents in the San Antonio area attached to companies we’ve never even heard of. And the latest? The new MLM agent….your Realtor might not be just selling real estate…it’s like AVON….the more agents they recruit, the more money they make. Do you want an agent that sells houses or an agent that recruits other agents?
So…how do you pick your real estate agent when their are 14,000 of them and almost as many companies?
Ask these questions:
1. Are you fulltime? Do you work nights and weekends?
I promise you….about 10,000 of these agents aren’t available 100 percent of the time to manage you or your house. When you have an offer come in….do you want to wait until Monday morning to find out about it? In today’s busy market…that buyer may get anxious and have moved on if they wrote the offer on your house on Friday night and had to wait until Monday to find out if the offer was accepted. If you’re the buyer…do you want to wait 3 days to find out if your offer was accepted? If they work at a fulltime job during the week….how can they negotiate the offer that comes in before their shift starts? I’ve met REALTORS that are also UBER drivers….do you think that REALTOR can negotiate while driving to the airport with people in the backseat? And….do you want the people in the backseat knowing about your personal business?
2. How many people are on your team?
If they are on a “team” you get them right now…and then another person takes over for inspections, and then a third person might take over for the closing process…..do you really want to work with someone you don’t know on the most important purchase of your life or the largest sale of your life? Be sure to ask about the transfer process and confirm they are still available 100 percent of the time for ALL your questions.
3. Tell me about your office…..this might be a really great question. If the office just opened up and has 2 people in it or if the office has been in business for 25 years….I can promise you that the office that has been in business for 25 years has probably done a lot of great things to stay in business that long. How does their office operate? An office that recruits for a percentage of stocks might not be the right fit for you if your house sale isn’t as important as the next recruiting session or training of their agents.
4. How long have you been in the business? With 30,000 sales a year in San Antonio and almost 14,000 agents…..the only agents that have been in the business for 10 years or more are agents that sold more than 2 houses a year. Currently 5,000 agents wash out and leave real estate within their first 3 years….and that’s been happening for over a century in San Antonio.
Make sure who you choose to represent you is one of the agents that has been around a while…in an office that has been around a while who job is to sell real estate…..lots of real estate!
The odds are in your favor for a favorable closing when you stack the odds in YOUR favor!