Friday, August 31, 2012

Hiring a Real Estate Agent in 2012 - Part 1

It’s hard to say which has changed the world of real estate more—the state of the economy, or the Internet revolution. With more power and knowledge going to the buyer than ever, the old rules no longer apply. Before you hire a real estate agent in this new climate, here are some things you need to know.

Number one: just because your cousin, friend or cousin’s friend just got her real estate license and joined a firm does not mean they know what they are doing.  Unfortunately, real estate school is about learning to pass a government exam, which includes a puzzling section on ethics. If I need to study up so that I can prove that I don’t discriminate based on race, sex or handicap, then I sure as heck shouldn’t be trusted with anyone’s home!
This is all to say that real estate courses teach you nothing about solid deals and good business, which are what really matters in real estate. An agent fresh out of school is like a hairdresser who has just learned all about the history of hairdos.  And here’s something to think about—your hairdresser has almost certainly spent much longer in professional training than your real estate agent. 
Number two: the amount of listings your real estate agent has doesn’t matter. Anyone can list a house—the real issue is selling it.
I have a friend who has over 40 listings. She must be a top producer, right? Wrong. I run with her a few days a week and every time, as we’re running, she gets calls from angry sellers who feel neglected. She signs the listing up, then the seller never sees her again. You want someone who will care about getting your house sold, not getting listed on the firm website as part of the Top Producer Club.

Number three: more time on the market will get you less money. If your agent asks for a 12 month listing, run!
I’ve seen my fair share of real estate firms teach their agents to take listings at a high price and walk the client down later, once they’re locked in. So don’t let an agent’s high number give you an unrealistic idea about value. Even if they list your house at an incredibly high price, they’ll often accept a low offer for you and tell you it’s the smartest move you could make. It’s fun to dream sometimes, but this market is not the time for dreaming. If your house is overpriced, all you're doing is helping your neighbors sell their more realistically priced home. 


  1. Thank you for give very nice info. Your website is coolI am impressed by the information that you have on this blog. It shows how well you understand this subject. Bookmarked this page, will come back for more. You, my friend, ROCK! I found just the information I already searched everywhere and just couldn't find. What a perfect site. Like this website your website is one of my new favs.I like this info shown and it has given me some sort of inspiration to succeed for some reason, so thank you

    residential property management las vegas

    1. I'm glad you like the blog Jessica. I like to share my real estate experiences and philosophies and to get good feedback. If you ever have a question or comment, feel free to leave it here. I am always looking for new blog topics.

  2. This was a good suggestion that you put up here...dude…..hope that it benefits all the ones who land up here. 

    REO Rockstar

  3. Hello dear , First of all let me tell you, you have got a great blog .I am interested in looking for more of such topics and would like to have further information.

  4. Hey friend! You’ve got a interesting weblog here. I truly liked it. Very nice post. I just stumbled upon your blog and wanted to say that I have really enjoyed browsing your blog posts.
    New Punggol Condos

  5. We have to surprise our competitors on what we do. Make sure that we will outdone what they have done in the past. In order for us to succeed, we have to make sure that we do everything to ensure that we will be at the top.

    Real Estate Investments in Australia

  6. My girlfriend and I worked with a real estate agent to secure our new apartment and have continued to work with him as he is now our building manager. Our experience with him has been absolutely awesome!
    Hermosa Beach property inspection

  7. The low end of the San Diego housing market is the one exception to my forecast. The low end properties have demonstrated a base building through the second half of 2009. I expect this favorable trend to continue into 2010. parc riviera

  8. By far most is purchased and sold through real estate merchants. (We utilize "operator" and "merchant" to allude to a similar expert.) Post free ad

  9. The author has so delightfully enraptured the consideration of crowd by this radiant blog.
    I want to sell my home quickly

  10. That involves opinion and as long as your real estate leads don't think it's amateurish, you're great. Warehouse For Rent In Dubai

  11. The credit advertise is additionally in a basic position, the same number of Realtors have watched. Home loan esteems are additionally a consequence of land advertise position at the present time. Land speculators have decreased their investment number to land barters, as a sign they have seen it as for sale in mauritius