Mike Colpitts asked:


Americans are split on whether they are satisfied with their real estate agents services, according to the latest survey conducted by Housing Predictor, which forecasts housing markets in all 50 U.S. states. The online survey indicates respondents are divided on the quality of their agents services.

Forty-seven percent of the respondents said they were satisfied with their last real estate agents services, while a nearly exact number of 46% said they were not satisfied with their agents. Some seven percent were unsure.

After a national real estate boom in many states, the survey indicates that real estate agents may have a long way to go to increase the public’s perception and enthusiasm of their industry. Previous studies have also shown that the public does not blame their real estate agents for paying too much for properties they have purchased in the last few years.

Housing Predictor regularly surveys visitors to the web site on a variety of issues related to the real estate industry, which is one of the largest driving forces of the national economy. Despite the slowdown in the housing market in many states, 18 states local markets are appreciating, including Texas and New Mexico, where foreclosures are just beginning to record higher numbers.

Forecasts for more than 250 local markets in all 50 states are provided on Housing Predictor, where you may also search real estate listings and foreclosures, which is becoming an increasingly active market for many home buyers and investors.

Housing Predictor has forecast that more than two million homes will be foreclosed through 2009 due to fall out from the sub-prime loan crisis as it spreads into the conventional mortgage markets. Foreclosures are at near record high levels in many areas, but are rare in the second home and vacation markets, where a large percentage of buyers pay cash for property.

Housing Predictor is a leading online resource for consumers, home owners, the real estate industry, mortgage and financial companies, which regularly consult the web site for its unbiased independent housing market forecasts.



Robert

Richard Brazil asked:


Whether you are buying or selling a property, many people employ the services of a real estate professional. This person’s duty is to offer help, professional expertise and generally make the real estate experience easier for you by guiding you through the process.

What Is The Difference Between An “Agent” and a “Realtor?”

The words ‘real estate agent’ and ‘realtor’ are used interchangeably but there is actually a difference between the two. A real estate agent is salesperson licensed by the state, and given legal permission to represent consumers in the sale of, or purchase of homes on the open real estate market.

A Realtor is a real estate professional who is an active member of the National Association of Realtors (NAR) – a key supporting real estate organization. The NAR offers ongoing education, legal information, contractual updates, information on governmental regulations affecting the real estate industry, etc. Realtors might consist of appraisers, property managers, loan officers, and brokers. Therefore, not all Realtors are real estate agents.

Is One Better Than The Other?

Some Realtors have lots of success in helping consumers, while some Agents struggle to satisfy their clients. At the same time, many Agents can be extremely efficient, while some Realtors can find themselves unsuccessful. Association with any national organization can’t guarantee anything. Some people prefer Realtors because they have a preference due to the national accreditation of NAR. Also, all Realtors must comply with the standard set by NAR, which in part gives the client some additional assurance of ethical conduct.

What Are The Qualities Of A Great Real Estate Professional?

It’s important that you select a qualified agent that you feel comfortable working with. Choose a person who has worked with someone you know, or a person who has a positive reputation within the community. A high quality real estate professional will make your transaction as smooth as possible and be forthcoming and honest about the details. That person will ask you questions, listen to your answers and recognize what you’d like to accomplish. Then will guide you towards obtaining your goal in a strategic, organized and successful way.



Elsie

Roberto Luongo asked:


While looking for a profitable real estate transaction, it is imperative to look for a qualified and experienced real estate agent. A real estate agent can help you to secure the most profitable deal and you can save a great amount of money as well. But, how will you find a real estate agent? In this article, we’ll discuss factors that can help you to find the real estate agent.

Use Referrals:

Fro getting the best deal, you can use referrals given by your friends, family, neighbors and coworkers. In fact, through this medium, you can get services from people who have already satisfied the needs of your acquaintances and family members. Hence, ask people and enquire about their experiences and then, make your decision.

Search through Online Agent Listings:

Many websites offer real estate agents’ listing. The list comprises of real estate agents who have paid to be listed in the directory. You can search the list and gather full information about a realtor who can meet your requirements. Check their years of experience and read customer testimonials to choose the best help. For getting better services, you can visit realtors’ offices and ask for more details on their services.

Attend Open Houses:

Visiting open houses is the one of the easiest ways to be in touch with real estate agents. Go there, meet new people and get their business cards. Through inter-personal meeting, you will get to know about the behavior of a particular person well. Think if you are comfortable working with the person or not. Choose a person whom you think can provide your service as per your expectations.

Advertising:

Nowadays, realtors advertize their services through newspapers, internet, magazines and other sources. Hence, if you are want to hire a realtor, try searching the one in the local newspaper or go online.

Finding the right real estate agent is not a tough job if you know exact places to satisfy your curiosity.



Vanessa

Iman Yusef-Yahya asked:


You don’t have to be in the business of real estate investing for very long before you hear the ongoing controversy – should you work with real estate agents or not? Some will tell you, absolutely not. The reason is that real estate agents are unfamiliar with the real estate investing side of the business; therefore they will not be receptive to creative deals.

While that may be true, the real truth may be that real estate investors have not always shown their best side when working with an agent and therefore have created their own bad reputation. If you approach agents as you would any other business venture and work to build a relationship on trust, in the long run such a relationship could possibly net you thousands of dollars in profits.

Give Value First

Find an agent that has a number of signs up in the neighborhood where you primarily work. Contact that agent and lay the groundwork for a relationship. In your business – if you are marketing correctly – you will be getting leads that aren’t suited for your real estate investing business. Perhaps they are not flexible on terms or price. Pass that contact information on to this agent. If you start out by giving value rather than demanding that this agent bend your direction, you will build trust.

As you get to know one another, explain the types of properties you are looking for. You are looking for the fixer uppers that the agent would be embarrassed to show to any retail buyer. Of course the agent understands now that you are going to resell. If you are the rehabber and will be the one selling to the end-user, you stand to gain if you then list the property with this agent. Even if you could make more by selling it yourself (by owner), in this instance, paying the commission would be a wise investment. Now you have offered the agent two ways to profit on one property. Additionally, you can offer a short closing date. What agent wouldn’t like to close in a ten-day time frame?

Reasonable Earnest Deposit

As a real estate investor, if all you are going to put down as earnest money is a few bucks, don’t bother with an agent. Why take the chance of offending him or her? Be ready to hand over at least $500. Again, if you do business in an ethical and trustworthy manner, that agent will bend over backward to return the favor.

Expired Listings

Ask your agent ally for the information on expired listings. These are properties that didn’t sell but the listing with the agent has now expired. Oftentimes these owners are more motivated because of the long delay with no sale. They are great candidates for you to contact and see if you can put a deal together. There are bargain properties in these listings. If you are able to help that owner get out of the property, then everyone wins.

Information at Your Fingertips

When you are out in the field, you may need property information quickly. If your relationship with this agent is well established, now you will feel at ease in calling and asking for your friend to look it up for you. You might need to know rent prices in the area, or comps of nearby sales. This is a tremendous benefit to your real estate investing business when that kind of information is yours for the asking.

Conclusion

As you can see, working with a real estate agent is no different than any other kind of business relationship that is built on trust. To view real estate agents as your competition, or even as the enemy, is totally self-defeating and can eventually cost you dearly. Essentially you are in the same business and each of you can benefit from the other.

Make it your goal to cultivate a select group of agents with whom you can work closely. After a few years of this type of relationship building, you will look back and see the thousands of dollars worth of deals that have come your way that you would never have found on your own.



Edgar

Virginia Wherland asked:


The sale of a home is a very important transaction. It concerns several hundred thousand dollars worth of equity in most cases as well as being the haven for your family. It just makes sense to entrust this process to a professional. A real estate agent has a number of advantages at their disposal to make the sale of homes easier, faster and more profitable for the owners. Look at things this way: when you have a toothache, do you fix it yourself with a cordless drill? Of course not, you go see the dentist and have the tooth fixed; you see the professional. Why would you take a different route with an asset as valuable as your home?

When selling your home yourself, there are a number of additional costs that are incurred during the sale process. These costs are typically a part of the fees that an agent charges to sell the home. Many people make the mistake of thinking that they can save a huge amount of money by selling themselves when in reality the money they “save” actually goes to pay for services that are normally included in using a real estate agent. Additionally, selling a home is a time consuming process. There is a huge amount of paperwork that is associated with a home sale and much time spent in the actual transfer and the contracts that are part and parcel of the sale. As well, you have a life outside the sale of your home, work, and family takes up a lot of time. Are you able to drop everything at a minute’s notice to show your home?

There is also the issue of your emotional ties to the home. No matter how much you try to remove yourself from these ties, they still exist. This makes you just a touch biased when it comes to the home. It can be difficult watching a fussy buyer pick apart their “perceived” drawbacks and things they may not like about the home. At a time like this it is hard not to be emotional, especially when there is so much riding on the sale. Give your home the chance it deserves, use a real estate agent when it comes time to sell.



Alexander

Gary Ward asked:


As a home buyer you should put as much thought into choosing your real estate agent as choosing your home. It is so easy to get caught up in the excitement of buying a new home especially if you are not aware of how the game is played.

Resourceful consumers know that they should interview agents to see how they will perform for them and to switch agents if they are disappointed in an agents performance. How your needs will be met should be based on the variety of services the agent offers, the different skill levels and training he or she has, and the company policies of the firm they work for.

You may end up with someone who hasn’t had much experience, if you met the agent at an Open House or called the Listing Agent about a particular house. It is not uncommon for new agents or part-timers to conduct Open Houses and do ‘up-time’ answering the phones at the real estate offices, not that an experienced agent does not do these things from time to time, but it is not enough to just take up with the first agent you meet without first seeing if they are knowledgeable of the area, the laws, and your interest. If they are the listing agent, unless specifically disclosed otherwise, they represent the seller in any transaction for the sale of a home. It is that Agent’s fiduciary duty to protect the seller’s position at all times. No matter what they tell you their loyalty will lie with their selling clients. Listing Agents are, not focusing on buyers’ needs, you may end up with an agent who will do a better job selling your house when the time comes rather than serving your needs and wants now as a home buyer. A buyer’s agent is a better choice.

If you have found a particular house but want a different agent you may have to deal with something called ‘procuring cause’ which offers guidelines regarding who should get credit for the sale and consequently, payment. That is why we say an ounce of prevention is worth a pound of cure: Choose your real estate agent before you choose your house. It’s not good to see a home with one broker and then bring another broker to the same house for the second showing a month later. Such practices could end up in a long bitter process between agents, slowing down your closing process and perhaps even chancing the lost of your dream home to another buyer.

Treat your agent with the same respect you expect from them, tell them up front if you have worked with another agent in the area, what homes they have shown you and why you choose to seek out a different agent. A good buyer’s agent armed with your expectations will transcend into a great buying experience for you and your family and what a difference that will make in the enjoyment of your new mountain home!



Terri

Steve Gillman asked:


You probably already know how to find a real estate agent when you want to sell your house or other real estate. All you have to do is put a “for sale sign” out and wait for the phone to ring. But how do you find the right real estate agent for your property? Here are some tips to get you started, followed by the questions you need to ask.

Note which day most brokers typically advertise real estate in your local newspaper. Get that day’s issue, and also collect a few real estate guides. Find advertisements for properties similar to yours. For example, if you are selling a lakefront home, you want to look for those.

Take notes, writing down the names and numbers of the agents selling similar properties. You want to find real estate agents who have experience with your type of real estate. The woman who has all the million dollar homes listed may not be the best one to sell your vacant commercial lot. Try to find agents who have sold or are selling several properties like yours, and start calling them. Call those who are active in your general area first – they are more likely to know how to properly price and market your real estate.

Hiring the right agent can mean thousands of dollars to you. When I was a new agent many years ago, I told a couple that we should list their home for $59,000, but they insisted on $65,000. We got a full price offer within a month. In other words, my advice could have cost them $6,000 in lost profit.

Find A Real Estate Agent – And Ask These Questions

Always ask as many questions as you need to, starting with the ones below. Most real estate agents won’t like it, but this really is a job interview – and you’re the one hiring him or her. Thus you should ask questions like:

How much experience do you have, and what kind? – The importance of experience is shown in my own confession above. I wouldn’t use an agent with less than a year of experience unless he or she had experience in a related field, like appraisal or mortgage lending. As for the type of experience, you want one that has sold properties like yours.

Can you give me examples? – Get an address or two. Then you can drive by and see what kind of properties he really has experience with.

Why should I list my property with you? – An obvious question, but listen closely to what he has to say. He needs to sell himself to you for you to trust that he can sell your real estate.

What will you do to market my property? – She should do more than place an ad and put your home in the MLS listings. Is she working with any people looking for properties like yours? How will she let other agents know about your listing and encourage them to bring buyers to see it?

Other Questions For An Agent

Do you show your own listings?

Do you handle your own closings?

How much is your commission, and what is included?

Are your listings selling close to the asking price?

How long do you think it will take to sell?

How long is your listing agreement for?

How will you determine the asking price?

How To Find A Real Estate Agent – Other Considerations

Be suspicious if it takes a dozen rings for someone to answer the phone at the real estate office. Hang up and try again later, to see if this is normal. If you have a hard time getting through, buyers will as well. Note whether your calls are returned promptly when you leave a message also.

Avoid agents who just want to agree with whatever you say. They just want to get the listing, but you want an expert who will tell you what he honestly thinks. Have him go over every detail of the listing agreement, and ask many questions. The agreement is a legal contract. Suppose you get a full-priced offer, but you changed your mind about the price or about selling. You’ll probably have to pay the commission anyhow – check the contract.

Ask to review papers you’ll have to sign when your property is sold. Will you likely have to pay for inspections, or to have a survey completed? Find a good real estate agent and you’ll get the answers to these questions.



Leroy

Richard Brazil asked:


After making the decision to buy or indeed sell a home, selecting a real estate agent is the next big step you will take. In the ever-competitive world of real estate agents and the escalating real estate market, local knowledge and professional acumen is what expected from an agent. They should have knowledge of their chosen region, proven records of accomplishment in the competitive world of real estate. Selecting one agent among so many experts is the most critical decision you will make. Making it easier, you can look for an online real estate agent.

So what is the biggest benefit of hiring a real estate agent online? Before you can answer to this question, you need to consider whether you are a buyer or a seller. If you are buying a home, the biggest benefit of working with an agent is their experience. They not only have the experience of helping you find properties in your desired area, but they also have the experience of negotiating. On the other hand, the service of an agent for a seller includes finding potential buyers, marketing, negotiations, closing procedures and much more.

A recent survey reported that most property buyers now prefer to search property online with online real estate agents. It is less stressful and takes less time. You can find and compare real estate agents, research home values, and view homes for sale online. Here the process is very simple. Simply submit your profile telling whether your house is for sale or you wish to buy one. The online real estate agents will submit their proposals to help you sell or buy a home. Then it will be easier for you to choose one. Your selected agent or broker then help you market your home for sale to get top dollar or help you find homes for sale. This is the best way to be in touch with world’s virtual real estate market through online real estate agents.



Evelyn

Rey Bogart asked:


If you are thinking of buying a new home, you must be aware of the difference between seller agent, buyer agent and dual real estate agents. Using the wrong kind of agent could affect the financial wording of the deal and have material legal implications. Read on to arm yourself with an understanding of the difference and how to use it to your advantage when buying a home.

Real estate law has evolved to require that an agent list who they are representing. This is normally done in you first meeting with the agent through a formal disclosure document that you must sign that identifies whether the agent is representing the buyer or seller. A seller’s agents represent the seller. Most real estate agents believe it or not are seller’s agents. They may be friendly to you as a potential buyer, escort you around town to show you multiple homes and help you prepare an offer on a home. However, the agent is working for the seller and looking out for the interests of the seller. And vice versa, buyer’s real estate agent actually works for the buyer and have a fiduciary responsibility to look out for the interests of the buyer. There are also dual agents, but we’ll come back to that in a moment.

More often than not, this has nothing to do with who actually pays the agent. Why is this important? If you are the buyer, you should seek a good buyer agent because of the financial, legal and ethical implications. A seller’s agent has a fiduciary responsibility to the seller not to you as the buyer. This means during the negotiations a seller’s agent will be working for the seller. Here’s a real life case in point to help clarify. Suppose an agent discovers that the seller must relocate for a new job, has become highly motivated and is now willing to accept $25,000 under the listed price. If the agent is a buyer’s agent he/she will be obligated and very likely excited to tell you this message. However, if the agent is the seller’s agent working for the seller – he/she does not have to convey this message to you and may not give away the data initially in an effort to get the higher offer from you.

Now, back to dual agents. Periodically your will find an agent that says they are operating in a dual role; meaning they are functioning as a buyer and seller agent. Be careful in this situation. As a buyer you may want to stay clear of a dual agent. Realistically, the dual agent is unable to fully negotiate the buyer’s interests without adversely affecting the seller and visa versa. There are some outstanding agents that can operate effectively in the dual role. However, as a buyer, you should understand the potential conflict. If you want the lowest price on a home, seek a outstanding buyer’s agent whose loyalties are aligned exclusively with you. You may be wondering who ultimately pays for a buyer’s agent. Normally the selling agent lists the property in the MLS (”multiple listing service”) and shares the commission with the agent who brings the buyer. Generally, the seller’s agent and the buyer’s agent split the real estate commission with fifty percent going to each agent. This means that although the buyer’s agent is working for you, the seller is funding the commissions to the buyer’s agent. At various times you may find a listing where the selling agent does not agree to share the commission with the agent who brings the buyer and in that case you would have to settle on who will pay for the buyer’s agent. Recognizing the financial, legal and ethical implications of buyer, seller and dual agents is important to you as a home purchaser. Prior to engaging in any real estate transaction as the home buyer, find yourself a good buyer’s agent with at least 10 years of experience in your market. They will have a fiduciary responisibility to act in your best interest and have the experience to help you negotiate the lowest price for the home.



Ray

Shareen Aguilar asked:


Just because expert real estate agents get all the attention that each real estate agent desires from their leads, it doesn’t mean that you have to follow every single action they have done to get to where they are right now. There is a difference from creating your very own idea to actions from just taking one from somebody. Though most real estate experts would love to share what they have done before they get the kind of success they have right now, it would always be considered a self-accomplishment if you tried to work things out on your own.

This doesn’t mean though that there is no need to follow the footsteps of the successful real estate marketers. There are always new things that you’ll learn in trying to pursue your own path in real estate marketing and learning from the mistakes of others is a good option. Well, better yet, an ideal move for you to take.

A few of the genuine marketing approaches you can try in prospecting clients are more based on the positive side of a person’s personality. You can never be an effective real estate agent if you see everything as something you have to do, as if there are no other choices left for you. Learn to develop the skill of loving what you do in terms of prospecting clients everyday. Aside from the devoted hour(s) for your prospecting task, you also need to make sure that you establish a good rapport with your prospect. They have to feel that losing them would really make a huge difference in your business. Make them feel that they are important to you and every aspect of your business.

One way of simply making your prospects feel important is to give them emotional assistance. By acknowledging whatever situation they are in at the moment, you start to build a trusting relationship with them. This will not make them feel that you are just after them for the sake of profit, but their presence and friendship means the world to you.

Also, never forget their names. At all times, make sure that you address the person you are talking to using their names because it will make your prospects feel that you have really taken the time to know who they are and their background.

It’s all about positivity. Be sure that you radiate the goodness in what you do to the people you work with.



Rita