The Real Estate Agent
a Valuable Member of Your Team

Hello Colm Dillon here ...

                 

Author of "Residential Development Made Easy"

Simple! Interview Them! Selecting an Agent to be part of your Property Wealth Growth Team members is a critical element of your JOB SPECIFICATION.

Surround yourself with poor quality advice, poor knowledge 'show ponies' will only gain you a poor quality result. It takes 'more energy' to interview an idiot than it does to interview a real expert ... think about that!

OK, you've been studying hard ... reading everything you can lay your hands on and getting use to the language, so that it rolls out of your mouth with great familiarity.

The Interview

First Point: You can't do two jobs at once. What do I mean by that?

You can't Interview a prospective "agent' team member and buy real estate at the same time.

So "Meet & Interview" ONLY at the first meeting. The agent willnaturally want to talk about property ... that's fine, but you want to find out how much they know about the area in which you want to operate

When it's time to purchase real estate ... you purchase through your team member ... loyalty in this business may be old fashioned, but the reason it's 'old' is because it 'works' and it is always fashionable to be considered reliable.

So let's agree, one of the key players of your team is your real estate agent. So choose wisely in order to protect your wealth creating future.

So How Do I Choose?

1. Examine and make note of agents in your area of operation Yellow Pages.

2. How do they present themselves ... Yellow Pages are very expensive.

3. Drive the area and examine their external office location & presentation.

4. Make a short list.

5. Phone and say, "My name is ..... and I want to speak to your most experienced agent in ... (renovator homes or apartment development etc)

6. Get the person's name & if they are not immediately available, don't settle for second best, if the girl suggeste that so & so is also available NOW

7. Leave your name; make sure she reads back your phone numbers and take note of the time you left the message.

8. Take note of the agents responce time to your call.

9. Ask the agent for a specific time appointment.

10. Arrive on time ... is the agent there 'on time.'

Everyone has there own personal style in asking questions and there is nothing wrong in having your points written down ... here are some suggestions.

* How long have you been selling real estate?

* How long have you operated in this area?

* Are you a Full or Part-Time Agent? It's in your best interest to work with a Full Time Agent.

* What's your last 12 months performance been? What you should be interested in is the agents's record for the past 12 months. The agent should have a list for that time period. Ask to see it, as well as any subsequent testimonials to better gauge their success rate.

* How well do you know my intended investment area? Again, refer to the real estate agents's listings to determine if s/he has a working knowledge of the market within the areas you are considering. This will save everyone time and effort and ensure you are receiving the focused service you require.

* Will you be handling my business in its entirety or do you have a team or assistant you delegate to? If you are using a real estate agent with many clients, (not necessarily a bad thing as the best are often the most efficient), you will want to be in touch with their assistant and/or team because a knowledgeable team will be exceedingly helpful.

* Do you have much knowledge/experience with Financing Institutions? It is helpful if your real estate agent is able to recommend specific lenders who will be able to assist you in your particular situation.

Naturally, you will be seeking an real estate agent team member who is honest and possesses integrity as well as very good communication and interpersonal skills.

While there are no specific questions to ask regarding these attributes, between the testimonials you will receive and your basic "gut" instinct, you should be able to make a sound judgment.

Make no mistake, choosing an agent is a time consuming process ... it is work ... it is very important. It is in your best interest to interview a good sample of people to ensure you find your best fit.

A word of caution, just because your pal's cousin's best friend's sister is an agent, doesn't mean he has to be your agent!

Put these questions to each prospective agent candidate to be certain you have made your best decision.

The bottom line is every professional realtor you meet with should have three things: a resume, an aggressive marketing plan and knowledge of the market you are considering - as a potential client, it is your responsibility to familiarize yourself with each of these points.

Ask and be informed.

The Real Estate Development Coach

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Copyright Colm Dillon, October 2003
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Real Estate Agent & My Development World