Long Island Real Estate Market - Choosing The Right Real Estate Agent 
Yeah, I know, writing a blog about this has been done before. I am hoping it will be different or at the very least, it will get you thinking.
You and your real estate agent will be “married” for a while so asking the right questions is imperative. Think of it as conducting a job interview. After all, you are hiring someone to do a job for you!
1. An agent should be respectful and genuine. Listen to your instincts (ladies, our instincts are there to protect us so listen to them). We owe you fiduciary duties: Care, Confidentiality, Loyalty, Obedience, Accounting and Disclosure: CCLOAD. This is what New York State expects of us.
2. Do not be afraid to ask questions. Ask what training they have had, how many hours was the real estate pre-licensing course they took, and what continuing education have they completed. A lot of agents have to take courses in order to renew their licenses with their State Department. Here in New York, we have to complete 22.5 hours of continuing education in order to renew our licenses every two years. Make sure they are a full-time agent or the marketing of your home will be part-time.
3. Let’s talk credentials! Most consumers do not know what ABR (Accredited Buyers Representative), GRI (Graduate REALTOR® Institute), CRS (Certified Residential Specialist) are. Now you know what they stand for. You can research credentials at http://www.realtor.org and this is the best place to start. Sometimes, credentials do not mean a lot. I feel if my clients will not benefit from it, I will not get the credential. The credentials that I listed above mean a lot!
4. Pricing Your Home – Most agents will come to you with a Comparative Market Analysis (CMA). They will show you your competitors and where they are priced at. They should also show you the homes that took longer to close because those homes were priced too high for the market. We are here to guide you and give you our sound advice. You, the seller, actually set the price based on our guidance, or at least we hope you do. If you do not, you can set the price too high and your home will just sit and sit for months on end with very little showings and offers. And it’s also our job to make sure you do not price the home too low. Some agents will have you do that so they can have a quick sale. I have told prospective clients that given how much they owe on their mortgage in relation to the market value of their home, that they are not ready to place their home on the market because they will lose money. I wouldn’t be able to sleep at night if I tried to convince a homeowner to list their home knowing this information. This is what you need to look for in your Real Estate Agent, pure honesty and what is best for you.
5. Is the agent a salesperson or not? I do not consider myself a salesperson. If a seller is ready to list their home on the market, they will. I do not use high-pressure tactics. For buyers, if you signed a Buyer Agreement then the agent is working for you, not the seller. Make sure they sit down with you to find out what kind of home you want, school district, etc. And make sure they show you those homes that are on your want list. You do not want your time wasted. This is what you need to look for in your agent. Again, listen to your instincts!
6. Communication – This is THE biggest complaint from consumers. A lot of people tell me that they have to hunt their agent down in order to get a return phone call or email. Now, during your interview the agent will tell you they will always stay in contact with you. Hold them to it! If they do not stay in contact, tell them how you feel about it and tell your agent you expect them to improve on this area.
7. Marketing Of Your Home – There are so many ways to market a home besides listing your home on so many real estate websites. Open houses are one of them. Yes, for the most part open houses are for the agent in order to procure new business. I feel it’s another marketing tool as well. Your neighbors are a good source to finding buyers for your home. Some agents will send out Open House postcards to your neighbors. I walk door to door with flyers to the neighbors because I like face to face contact. You could never know if a neighbor has a friend or relative that want to buy a home near them. Hey, you could never know! This is why I feel open houses are important. If you want open houses, then tell your agent to do them. I had an agent once tell me he doesn’t do open houses when I was selling my co-op right after I signed the listing agreement. I took the agreement and said, “if you refuse to do open houses, this agreement will be torn up!” After that, I had all the open houses I wanted. Do not be afraid to say how you feel. It’s your home, not ours.
8. Dual Agency – There is no way an agent can equally represent both a buyer and a seller. Your agent should explain this to you when you meet. A selling agent is to protect your best interests and not the buyers. Yes, the agent has to disclose to buyers any latent defects of the home like the basement leaks, faulty wiring, anything that can be a hazard providing the seller has disclosed these issues to their agent.
9. Jack-Of-All-Trades, Master-Of None – You know this saying! If you have a luxury, high-end home, hire an agent that specializes in this area. I do not have experience with luxury homes, so I pass off those referrals to agents that do. I handle residential, condos and co-ops and that is all I do.
10. Listening To Your Needs - Selling your home can be a complicated and confusing process. You need an agent that will have answers to your questions and will take the time to explain things you do not understand. Do not be alarmed if the agent does not have the answer right then and there. A good agent will find the right answer and will get back to you ASAP.
11. Your Time Schedule – An agent should work around your schedule, not theirs. If an agent doesn’t work weekends, but most do, find out who will be responsible for holding an open house for you and who will be returning your phone calls.
12. Hiring A New Agent – Do not be afraid to hire a new agent. But, make sure they are planning to stay in the business and not be gone tomorrow. New agents have better training and education then seasoned agents who have been in the business much longer. New agents are more motivated, excited and truly want to do a great job for you. They also have their Managing Broker behind them and if a problem arises, they can go to them for help. Here in New York, agents have to work under a supervising broker.
Please keep in mind that even if you had a bad experience with an agent, that was a needle in the haystack. Most of us agents are good, hard-working people that really do have your best interests at heart!
If you have read this far without losing your mind, then my job here is done (not really) and thank you for reading. I hope you learned something new today!
