The Best Agents? Ask Questions!

One thing I can’t understand, is Sellers not doing homework when selecting an agent to list their home with. There are so many variables. For example, one of the largest real estate firms in the WORLD, does not represent the clients that hire them. They, at least in Florida, act as “Transaction Brokers.” This is a “spin” name in my opinion for “I’m not representing you Mr. & Mrs. Seller.” The BUYER can have a Buyers Agent, but you, the Seller have hired a neutral sales agent to represent, or should I say, facilitate, the sale of your home. Many agents still represent Sellers when listing, so do your homework. Processing fees: Why do some agents charge processing fees? Is that not why we get a commission? $295, $395 whatever. It is not a justifiable fee in my opinion. How about this: Does the agent own shares in a Title Company? Why is this relevant? Well, some agents “give you a discount”, say 1% off the commission. Shares in a title Company is a great way to recoup some of your money that they just discounted for you. They can jack up the Title Insurance, charge you a few more junk fees (in addition to that $295 processing fee they already clipped you for), they charge the other agent that sells your home inflated MLS Fees (the fees that offices customarily charge one another at closing) and the cha ching keeps racking up! Do yourself a favor, use a real Estate Attorney or reputable title Company that YOU select if the Agent has ownership or shares in the firm they recommend.

Another comical thing is Agent tooting their own horn (unless it’s true of course). We have an agent in Tampa that is in every real estate magazine you can find. “THE Luxury Home King” of Tampa. The funny thing is, they have tons of high end properties, so the luxury home SELLER takes the bait. The problem is, they are not selling anything, at least not the numbers they will make you believe they are. Heck, when you run into them at the watering hole, they are always quick to brag about how much they sell. Too bad Realtors can look up the ACTUAL numbers. Who are they fooling? More than themself! Those Sellers, who are now locked into a long, lengthy listing agreement with no way out! Should all listings be voidable? You bet your sweet donkey they should! What if you owned a car lot and a salesman could not sell cars? Can you fire them? It should be the same for Realtors!

Real estate, especially the state we are in today is not something Sellers or Buyers should take lightly. Take a good look at the agent you are considering. Many Realtors give the impression that they are highly successful, driving new luxury cars, new Rolex, nice jewelry. Now look HARDER! What does their spouse do for a living? Most agent living in those ultra expensive communities would be living in trailer parks if they had to rely on their real estate sales! Dr. Husband or Attorney wife? Make certain all of that fluff can be backed up with legitimate sales activity. Many agents are trying the “Short Sale” game. This is VERY COMPLEX business. They have never successfully completed one, yet they take the listing and “practice” on a person in dire straits? Success breeds success, sales breed sales. As an Agent myself, I know of several agents that I would list or buy through if I were not an Agent myself. They are out there, but they are in the MINORITY and it takes an educated Buyer or Seller to ask the right questions so they hire a capable agent that leaves ZERO of your money on the table at close. Hire the wrong agent in this market, chances are they will not be a closing!

The problem is that real estate is such a pretentious game. Everyone is trying so hard to “look the part” that they forgot to acquire the skills. The market is flat, before you hire an agent, do your homework, look at the FACTS and most important, ask questions, ask questions, ask questions. If the Agent spends 80% of their time telling you how successful they are and not WHAT they ARE going to do to sell your home, move on to the next interview!

Happy Selling!