By Melania Mirzakhanian
Selecting the right real estate agent is a key step in the home buying or selling process.
While the abundant availability of online tools for do-it-yourself (DIY) buyers and sellers may convey the notion that real estate agents are not necessary anymore, most individuals who try the DIY route end up facing unnecessary challenges and pitfalls during the process. So despite available online resources, there are multiple important skills that an agent brings to the process. An experienced and educated real estate agent will be a strong negotiator who has built rapport within the community and is respected by peers and clients.
The role of an agent is to be an advocate for the client and have the client’s best interest at heart. While this seems logical, some agents prioritize their paychecks before the client’s interest. If a transaction needs to be canceled because during the property inspection a major issue is discovered, then so be it! Rather than brushing off the issue, the real estate agent should advise the client to have it further investigated by a specialist.
There are a number of attributes to look for in an agent:
- Negotiations skills: Will my real estate agent fight to get the best terms for me or will he push me into a deal to make a buck?
- Empathy: Will my real estate agent care about my stress level or will he push his personality on to me?
- Experience: Has my real estate agent conducted or been part of many transactions or am I just a hobby to him?
- Easy to reach: Will I have to go through a zillion hoops of voice mails and assistants to speak with my real estate agent or is he responsive and respectful of my time and questions?
To obtain perspective and information from another experienced real estate professional, an interview with Dino Katsiametis was conducted. He is the branch manager of Citywide Home Loans, and began his career as a broker and owner of California Coastal brokerage. He is also the host of the popular radio show “Money Matters.”
According to Katsiametis, the real estate industry “needs more people who have a business mind, a legal and common sense.” A successful real estate agent should not only be a strong negotiator but also understand contract terms and have an understanding of the legal aspects and implications of the home buying or selling process.
“Working in real estate should be your business,” he said. After all, a real estate agent affects your decision to invest hundreds of thousands of dollars if not millions of dollars into a property. So when selecting a real estate agent, Katsiametis urges buyers and sellers to “avoid the ones that just sell here and there.” To him, that’s really scary to trust such an important decision with someone who is not committed full-time.
When selecting a real estate agent, Katsiametis’ view is to look for attributes to avoid.
- Avoid a hobby real estate agent who is not dedicated to the industry and instead work with an agent who is committed to the profession as a career and not just a side gig.
- Don’t feel obligated to work with an agent just because he is family, a friend or promises you a discount. The real estate industry has a low barrier of entry and just because your high school buddy or cousin got their real estate license and used it once doesn’t make him a real estate professional.
- Beware of some agents that go to lengths advertising discounts and deals that are often deceptive. While it makes sense to use coupons for groceries it is not advised to make an important decisions such as home buying or selling solely based on a coupon.
Do your research when selecting real estate agents, ask questions throughout the process and enjoy the journey.
A tip for new real estate agents who are serious and committed to the profession: You should seek out a mentor that can provide and teach you their knowledge of a real estate transaction, what pitfalls to look out for, and how to resolve them for your clients. A mentor will guide you toward your success.
—Melania Mirzakhanian is a local attorney focused on real estate, business and employment questions. She is the designated broker for Tomea Real Estate and also is involved with the Housing Opportunities Collaborative, a San Diego based nonprofit organization. Her blog is at AskMelania.com.