Working With An Agent Category

CRS, which stands for Certified Residential Specialist, is a designation that recognizes a high level of professional accomplishments in real estate experience and education. The Residential Sales Council grants the CRS designation only to the most outstanding sales associates in the residential sales field. Besides the completion of a rigorous course of study, the candidate must be able to demonstrate 75 successful transactions or average sales of $1 million per year of experience. Only 4% of all real estate agents are awarded the CRS designation.

GRI stands for Graduate, REALTOR Institute. The REALTOR Institute offers a series of 90 hours of required and elective courses conducted by the local Board or Association of REALTORS. These courses cover all areas of real estate — residential, investment, construction and mortgage. The GRI designation is a prerequisite of many specialized courses in the REALTOR organization.

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When you buy your first home, you want the best advice you can get. You want to show the house to friends and relatives before you commit. They will probably tell you about all of the things that went wrong during their own transactions so you can avoid the same mistakes. These experts all have good intentions, but so much advice can put you into a state of high anxiety.

Real estate transactions are very complex, and difficulties can arise. If you are buying your home with the help of a professional real estate agent, your agent will know how to make sure that any minor upsets do not turn into major problems. A real estate agent’s expertise is based on formal training and experience in many real estate transactions. Their reputation is on the line with each sale, so they are highly motivated to make your purchase or sale go as smoothly as possible. When you are dealing with a professional real estate agent, you can worry about what might go wrong if you wish, but you don’t have to!

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When you buy or sell a home, you want to work with a real estate agent who has the experience and expertise to handle such a complex transaction with a minimum amount of stress. When choosing a real estate agent, you should look for technical competence and interpersonal skills.

Ask prospective real estate agents several questions. How long have you been in the business? How do your services differ from those of your colleagues? Do you have a principal broker/owner who works closely with you and serves as a backup person if you are not available?

Keep in mind that there are no “right” answers to these questions. Don’t rule out a less-experienced agent who brings energy and enthusiasm to the job. You want personalized professional service from someone whom you can trust to lead you through the process.

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Sometimes a good real estate agent may remind you of a favorite aunt who is always trying to fix up her single nieces or nephews with her friends’ sons or daughters. She really gets inspired when her efforts result in a great marriage. Real estate agents match prospective buyers with the perfect home for their family–and when it works, they feel terrific! And more important, their buyers and sellers feel terrific.

Sellers often have a strong attachment to a home that holds many memories for them. It is important for them to know that the new buyers will love it, too. While any sale can potentially become complicated and difficult, problems seem to work themselves out more easily if you have started out on a positive note. This is one important reason why agents work hard to maintain a good rapport between the parties involved in every transaction.

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People who try to sell their own homes begin to appreciate the expertise of professional real estate agents as soon as their first offer comes in. They want to sell their home, and they have found prospects who want to buy. But what happens next?

When the negotiating process begins, things can get “sticky”. First, there are personalities involved, and real estate transactions can be stressful and challenging. The buyers may seem unreasonable if they make an offer that is considerably less than the sellers are willing to accept. At that point the buyers may become offended by the sellers’ attitude.

When professional real estate agents are involved, the process is much less adversarial. The two parties see very little of each other until the rough edges have been smoothed out and there has been a meeting of the minds. Good real estate agents know how to keep personalities out of the transaction and to help both sides reach a mutually agreeable compromise.

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Recent reforms in the disclosure laws and real estate practices around the country have resulted in new options for buyers and sellers. Real estate agents can take different roles with buyers and sellers.

A seller’s agent works with loyalty and fidelity as the seller’s advocate and negotiator, and is obligated to disclose to potential buyers all adverse material facts that are known about the property.

A buyer’s agent works exclusively to negotiate the lowest purchase price and best terms for the buyer. This agent serves the buyer with undivided loyalty, confidentiality, and full disclosure. The agent would know the highest price that the buyer would be willing to offer for a home, but could not disclose that information to the seller.

A dual agent can work for both the buyer and the seller by written, informed consent of both parties and has fiduciary obligations to both. The agent can only disclose to one party what the other party allows to be revealed.

A transaction broker assists the buyer or seller or both throughout a real estate transaction without being an agent or advocate for any of the parties.

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It takes a lot more than a “For Sale” sign in the front yard, a Multiple Listing entry, and an occasional ad in the classifieds to get a home listing sold. Be sure to discuss the details of the marketing plan with the companies and real estate agents you interview about selling your home.

Real estate agents who provide high quality service will usually have a written marketing plan tailored to fit your home and your individual needs. A good marketing plan begins with pricing the home appropriately. It involves exposing your home to as many real estate professionals and qualified buyers as possible. The agent’s job is to get buyers through your front door; your job is to ensure that the buyers like what they see. Top agents are very active in finding prospective buyers and in coaching sellers about how to enhance their home’s presentation. There are differences in the marketing approaches of companies and individual agents, so ask for a written plan to give you a clear idea of what you can expect of your agent.

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The process of guiding a home sales transaction is in reality more complex than many people realize. When qualified buyers present an offer on your home, it might seem that the deal is done, but this is only the beginning of the negotiations process. Ideally, this aspect of the transaction culminates in a meeting of the minds. At no point can the real estate agent just sit back and relax, because the “glue” that holds each transaction together is subject to a variety of factors and forces that may cause the deal to fall apart.

We can only hope that there are no surprises during the home inspections. We have to presume that the appraiser will think the house is worth as much as the buyer and seller do, but this is never guaranteed. As the buyers make their loan application, we cross our fingers that the credit report reveals they always pay their bills on time.

Rarely is a transaction completed without a few problems. A real estate agent’s professional skills come into play primarily during the time between contract ratification and the closing. At this point, we use our creativity, patience and negotiating skills to achieve a happy resolution to your transaction.

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If you are using the services of a professional real estate agent to find a new home, good communication is crucial to the transaction. A real estate agent who knows your most significant criteria can work much more effectively to show you homes that will meet your needs.

Let the real estate agent know why you are interested in a specific location. Discuss specific requirements such as proximity to your job, good schools, or recreational activities. If there are no houses available in your price range, the agent may suggest alternate neighborhoods with the same amenities. Do you need a home office or do you have hobbies that you want to accommodate? Is there a particular style of architecture that you prefer?
Agents sometimes have to be intuitive when we work with buyers. The more you can describe to your agent what elements in the home are essential and where you are willing to compromise, the easier it will be to use their expertise to find a home that’s perfect for you.

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Buying real estate can sometimes involve tricky timing. For example, you may have found the perfect house and are thinking about making an offer, but are feeling pressured to make a decision just when you want time to consider the matter. The agent tells you that another party is thinking about making an offer, so you shouldn’t hesitate if you really want the house. What should you do? Trust your agent!

It is natural to feel some pressure from even the most easy-going real estate agent–and some uncertainty about making an offer. If you really like a house, there is always the possibility that someone else will share your enthusiasm for it. Whether your local market is active or sluggish, it is sensible to assume that another offer is likely to come in. Perhaps you can afford to “sleep on it”, but moving as quickly as possible will minimize the possibility that the house will go to another buyer.

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