Q: I heard about a property in northern California and notified a Realtor to let me know if something became available. She contacted me a couple of months later where I live in the midwest and took some pictures and did some measurements, etc. She is very pushy and I do not trust her. I have not been shown the property by her, nor signed anything. Can I change Realtors as I don?t believe what she tells me and making an offer and negotiating this part seems very problematic?
?Wantok, Bloomington, IN
A: First, unless you signed a Buyer/Broker agreement with the first Realtor you are not legally required to use them. Second, don?t just choose another agent just because they called you. Do your due diligence when selecting a Realtor and don?t forget to get pre-approved for a mortgage before starting out on your quest.
The best agent for you will be one who really knows the local market. This takes years of studying the markets and continually staying apprised of what homes are for sale. Then, while you?re looking at the d?cor, layout, and functionality of homes, your agent is looking for structural soundness, resale ability, and appreciation potential of the property.
How do you find the agent who is truly excellent? Pay attention to the agents who continually ?farm? the neighborhood you?re interested in. This includes informational reports, post cards, just listed and just sold postcards, calendars, holiday cards, etc. Most agents who work that hard to earn your business by spending the time and money to consistently mail to an area will also work equally as hard for their buyers. They?re motivated and hard working. Most real estate agents will tell you privately that these top ?marketers? are usually good real estate agents. When you are ready to buy, whether you have a cousin who is a real estate agent or not, you owe it to yourself, and your family, to pick up one of those marketing pieces and at least call the agent for an interview.
Referrals from friends and family can be another way to find an agent. But be wary! Friends may receive some type of compensation for recommending their favorite agent. Furthermore, just because the agent is a good family member or friend doesn?t mean they are a good real estate agent. Your friend or family member may be recommending this agent out of a sense of obligation. This is a business transaction. You need a competent professional!
Check the local home magazines. They are often a good place to find good real estate agents. Be careful if an agent has too many listings in the magazine. Perhaps she or he is spread too thin, or doesn?t focus on working with buyers.
Finally, keep an eye on yard signs in the prospective neighborhood. If a particular agent has several listings in your neighborhood, the chances are good they are in contact with buyers looking in your desired area.
What questions do you ask your prospective Realtor? Once you?ve done your research, call each agent. Pay particular attention to how long it takes them to call you back. You want an agent who promptly follows up with buyers and sellers! Also, get a feel for their personalities over the phone. Do you think you can work with each person?
When you finally meet your new Realtor, ask them to discuss their plan of action for finding a home for you. Once you?re confident in the agent?s strong plan, make sure the agent walks you through a ?buyer?s net sheet,? clearly explaining the numbers and what you can expect to pay for a home in your price range.
Lastly, give this agent your solid commitment to work with them. They will be working very hard for you in the days to come.
Lee Dworshak is a Realtor? with Keller Williams LA Harbor Realty in Rancho Palos Verdes, CA.
A: You can do whatever you want if you do not have a contract. It would be fair to let your new agent know what contact you had with the first agent so he or she can be sure there will not be an issue over the commission. But that is for the agents to work out?you should not be hampered in your ability to select someone you feel comfortable with. I would highly recommned you find an exclusive buyers agent to help you.
Linda Walters is a Realtor? with Sage Realty LLC in Wayne, PA.
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