Finding a good Broker/Agent should not be a difficult task, this is because any agent who is competent has good market presence and can easily be found.
What is the difference between a real estate Broker and Agent?
Real estate broker: A person who has taken education beyond the agent level as required by state laws and has passed a brokers license exam. Brokers can work alone or they can hire agents to work for them.
Real estate salesperson: Another name for a real estate agent.
What Buyers look for in a Real Estate Professional
Buyers can’t be lumped into a single bucket. There are different levels of experience and requirements. First-time buyers need a lot more hand-holding, transactional help, lots of interpretation of documents and help with decisions while Investors need lots of data.
If you’re representing buyers in other specialized areas or property types, they will tend to rely more on your expertise and local market knowledge. Even when it comes to off-plan property purchases, the off-plan purchasing rules and financial particulars are extremely important. An inexperienced off-plan buyer will benefit greatly from an explanation of how property will increase in value in the near future especially in speculative investing.
When it comes to investor buyers, they often approach you with a great deal of market knowledge. What they value is an aggressive approach to helping them locate good investment deals and negotiating skills to help them get them at the right price. They highly value a real estate professional who can catch things they may have missed and bring them to their attention before an investment mistake.
What Sellers look for in a Real Estate Professional
The simplistic look at sellers is that they just want to sell their home quickly and at the highest dollar amount possible. It’s also true that sellers are less likely to be overly reliant on their agents for help in the process. They want marketing but know that the Internet has changed the game.
They are more likely these days to want to negotiate commissions and to go with the lower cost with roughly equal marketing options. This is less true at higher end property prices, but still, a consideration when you’re quoting a full-service commission.
Unfortunately, recent new online “review and referral” websites are creating some misconceptions on the part of consumers. One such advertisement has sellers happy that “their agent sold their home in two days for more than their asking price.” That’s a rough quote from a TV ad. Professionals know that in this case the agent either had an easy job in a very hot market, or they underpriced the home listing. We must help consumers to know what we do and value our services.
For All Consumers
From most important down, here are the skills and qualities of real estate agents that actual home buyers and sellers said they valued:
- Honesty and integrity
- Knowledge of purchase process
- Knowledge of real estate market
- Communication skills
- Negotiation skills
There are others, including people skills and technical skills, but those are the top items. In our marketing series, we’ve determined the value of the Internet, so why would technology skills rate low? Many times it’s how you ask the question. Note the importance of responsiveness and communication skills. If their entire first weeks of interaction with you was over the Web and email, then those items would imply a need for some technical knowledge.
Whether your marketing features these skill sets or not, it is important to your future repeat and referral business to concentrate on doing your very best in these areas.
The qualities of a good real estate agent as valued by the consumer vary by their needs. However, overall, we must be market experts and service oriented.
Attributes of a good Broker/Agent
- Problem solver mindset
- Self-motivated entrepreneur
- Honesty and integrity
- Hustle and tenacity
- Interest in houses and architecture
- Engaging personality
- Attention to detail
- Understand the local housing market