Since I am on the inside of this industry of real estate, and I believe we all should earn our business, I have composed a list of considerations for folks finding themselves in the position of hiring a real estate broker.  In most cases selling real estate is a significant life event and it can go well or terribly wrong based upon the upfront work you do in making your selection.  I hope the following proves useful to most.

 Keep in mind you are hiring a real estate broker and a real estate firmso both should be scrutinized for their ability to position clients to garner best market exposure for their highest dollar sale.

Qualities of a good real estate broker:

 1)   Ability to negotiate

2)   Accessibility

3)   Quality workmanship

4)   Work Ethic

5)   Verifiable data

6)   Ability to think fast

7)   Resiliency (an adept problem-solver)

8)   Resourcefulness

9)   Good reputation in the industry

 

Qualities of an effective real estate firm:

10)  Broad Marketing Coverage

11)  Quality Workmanship

12)  Brokerage support (phone/marketing/legal compliance etc.)

  

1)    Ability to negotiate

The single most important quality in selecting an adept real estate broker is finding one who has strong negotiation skills. None of the following alone will assure effective representation-however finding a broker who has a collection of these traits improves your odds at your highest net, least hassle sale:  Experience, interpersonal skills,  communication skills, confidence, comfortable holding firm in a way that is pleasing (ie does not ruffle feathers), industry knowledge, and an ability to gain valid knowledge quickly.

2)    Accessibility

I have witnessed good real estate work lose its’ steam because a buyer is forced to wait too long to get an answer to a question.  A good broker is available for those important pivotal calls that enable momentum to flourish when an excited buyer makes inquiries; 

3)   Quality workmanship

I’ve seen enough pictures of toilets, or blurry photos, or photos that do not properly represent what is for sale to last a lifetime;

4)    Work Ethic

Good real estate work involves being available and productive when the industry requires it.  Working part-time or as a hobby for “family and friends” should be considered carefully- weighing pros and cons. Business seldom leaves personal relationships untarnished when the 2 get intermixed.  That remains your call ultimately (obviously).

5)   Verifiable data

Anyone can claim being a top producer, top 5%, can they “prove it”.  Ask to see the data sheets for yourself..ask how once might rely on that “claim”…this is a broker who will be representing you in the sale of your home- can they back up their assertions with indisputable evidence.

6)   Ability to think fast

Good business maneuvering involves an ability to think on one’s feet – is there a buyer objection which has an immediate remedy? Is there an objection which could cause the loss of a sale if not handled with appropriate communication.

7)    Resiliency (an adept problem-solver)

Life has problems, and so does real estate.  Does your agent have the resiliency to see your sale through when the terrain gets rocky?

8)    Resourceful

Does your broker have time trusted resources to help prepare your home for sale?  What qualifies their contractor to make it to their referral list? 

9)    Good reputation in the industry

Some brokers and brokerages fail to recognize their claims to “doing better for less” diminishes the industry where they must navigate working smoothly with other agents.  It’s best to simply show what you do and leave the impression of  the short comings of others to yourself.

10)  Broad Marketing Coverage

Access to homes across the globe via the internet : some firms are local, some are national and some offer coverage around the world.  Buyers are buying from around the globe: particularly Asia and India. 

11)  Quality Workmanship

Real Estate firms offer different levels of marketing quality.

12)  Brokerage support (phone/marketing/legal compliance etc.)

Office support and availability differs significantly in this industry, some brokerages have no support on weekends at all. 

Choosing a real estate broker well has a direct correlation to the amount of money you gain from your home sale or the price and terms you receive in your home purchase.  It is easy to simply go with who might be easily available, but if money is important to you (money = time, options, etc.) my best advice to select thoughtfully and do your homework. The benefits far outweigh that upfront cost.

Pamela Bellah is a Real Estate Broker serving clients in the Western Washington markets of Seattle, the Eastside, Southend, and surround cities.  Contact her directly for real estate services at 206-619-2175 Pamela.Bellah@yahoo.com.