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Buying and selling homes can be stressful. One way to reduce the stress level is to find a trustworthy, energetic and professional real estate agent to work with--someone with whom you have a good rapport. It helps if the agent has years of experience and is personable, intelligent, well organized, diligent, resourceful and a good negotiator.
There are many ways to find a good agent. Acquaintances who bought or sold recently are your best source of referrals. The Internet is another source. Visit sites such as www.realtor.com and www.homegain.com. Open houses are a good place to meet local agents in person.
Once you've found an agent to represent you, you'll get the best service if you commit to working exclusively with that agent. Real estate agents usually work on a commission income basis. They get paid when a sale closes. Up until that time, they are working for free and have no guarantee that they'll get paid for their efforts.
The best agents are busy. Their services are in demand, so they can afford to be selective. Most top agents will only work with buyers who will commit to working exclusively with them.
However, there are certain circumstances in which you'll be better served by working with more than one agent. For instance, if you're a homeowner who is selling one home and buying another one in the same area, you'll probably be inclined to use one agent for both transactions. But, if you're working with a buyer's agent who doesn't list properties for sale, you'll need to find a listing agent to sell your home.
A buyer's agent represents only the buyers in a real estate transaction. Some buyer's agents only represent buyers and never represent sellers. Other agents represent both buyers and sellers, but never both in the same transaction. And in some states, like California, real estate agents can represent both the buyer and seller in the same transaction if both parties agree to this in writing. This is called dual agency.
Even if your agent can legally represent you and the other party in a home sale or purchase, you may feel more comfortable if the other party works with a different agent. Agency laws governing the relationship between real estate agents and homebuyers and sellers vary from state to state. Make sure you understand what kind of relationship you will establish with your agent before you enter into a listing or purchase agreement.
FIRST-TIME TIP:
It's also advisable to work with more than one agent if you're looking in several different marketplaces. In this case, you'll usually receive the best service if you work with one agent per marketplace.
Recently, buyers from Castro Valley made an offer on a home in Oakland. They were one of three sets of buyers who made offers on the property. Rather than use an Oakland agent to represent them, they made their offer through a Castro Valley agent. Even though their offer was the highest, the sellers chose to sell to buyers who were represented by an Oakland agent. The agent had a good reputation and a good track record selling Oakland properties. The Castro agent was an unknown. This raised uncertainty in the sellers' minds.
It's tempting to use an agent with whom you have past history. But, if you're trying to buy in an area that is outside the agent's area of expertise or sphere of influence, ask to be referred to another agent.
THE CLOSING:
The best real estate agents refuse to list and sell homes outside of their market area.
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