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by Don Dunning, ABR, CRB, CRS DRE Lic. #00768985 Originally appeared in Hills Publications, January 15, 1999 In a speedy real estate market where homes sell in days, if not hours, some agents act like order-takers, moving quickly from one client to the next. Invariably, details get dropped and follow-up is non-existent. In the end, the buying and selling public pay the price, when they discover, perhaps years later, how poorly they were represented. If you are in the process of buying or selling real property, work only with a Realtor who is a professional, not a shortcut artist.
Top real estate salespeople invest the time, at the beginning, to listen and understand your situation - your needs and reasons for buying or selling. Likewise, it would be prudent on your part to get to know the agent before committing to a working relationship with him or her. Do not allow yourself to be drawn in by mere enthusiasm and bravado. There is nothing more valuable than experience used on your behalf. I recently sold an attractive Tudor-style home in a desirable Oakland neighborhood. According to the sellers, the kitchen and baths had been remodeled under permit. Experience has taught me to check the permit history when remodeling is involved, so I took the buyers downtown to the City building department. As a result of our research, we uncovered a fascinating fact: the house had been moved from another location in 1961. Despite having lived there for over six years, the sellers were surprised when I told them the house had originally been erected elsewhere. The previous seller had not disclosed this to them, and no one had suggested they check City records when they purchased it. This information was invaluable during the general home inspection, because the inspector was in a position to point out why an older home had a newer foundation. We were also able to substantiate that the improvements had been done under permit, and that the permits had been “finaled.” Full-time professionals will be happy to give you names of recent clients. Call two or three and ask about the agent. What did he do that displayed extraordinary service and caring? Ask if they would unhesitatingly use this same Realtor again. Some areas in which you will want your agent to "go the extra mile" The best agents are very thorough in helping their buyers and sellers ascertain value. Although market value is ultimately determined only after the property sells, having a comprehensive overview at the beginning is fundamental. Weak agents gloss over this. Pricing is difficult in a rapidly rising market. Be sure to ask your Realtor exactly how he will help you understand prices and values so you can make informed decisions. Problems in houses can be complicated. Structural pest control (termite) reports and home inspection reports require a practiced eye and an inquiring mind. Accepting a pest control report with “further inspections” might mean you just bought a home with expensive problems you will only find out about later. Home inspection reports often advise follow-up inspections from licensed roofers, drainage experts, engineers or heating/plumbing contractors. Top-notch agents have a trustworthy team of these technicians and they will guide you through the process. Slipshod salespeople will minimize the issues and do little to enlighten you. Getting a home loan can be quite confusing, especially the first time. Should you use a bank, mortgage broker, credit union or the Internet? Everyone promises the best rates and lowest fees. Career Realtors know which lenders are appropriate for your situation. If you have less than perfect credit, many lenders will not grant you a loan. Those who will, usually offer higher rates and fees. This is also true for properties that have structural problems and are being purchased “As Is.” In this overheated market, the sheer volume of purchase loans and refinances they are processing overwhelms lenders. An agent you can trust will lead you to a lender who will not only get you an attractive rate, but will actually fund on time. This is essential. Unfortunately, some people in this business are unreliable and inaccessible. Whether you are a buyer or seller, you should be hearing from your agent often, be it by telephone, e-mail, fax or in person. At the beginning, it could be every day, or several times a day. In the later stages of an escrow, once-a-week is the minimum to expect. It is also vitally important that your Realtor keep in touch with the other agent in the sale. Transactions run into trouble, and sometimes fall apart, because one of the agents does not do his part. The keys are communication, responsiveness and follow-up. Negotiating is a crucial skill and an ongoing process. You want your real estate representative to go to bat for you without you even having to ask. Be sure you are working with someone who is willing to put the time and energy into doing what is best for you. Contracts and addenda can work for or against you, depending upon the skill with which they are drafted. Order-takers quickly and mindlessly fill in the blanks with little or no concern about how the nuances could effect you. This is a strong clue of a poor agent. Do not settle for mediocrity or worse. Even though your agent prepares the documents, once you sign it is you who are responsible. Whether you are buying or selling a home, you will want assistance from a professional who is working in your best interests. Agents who give excellent service understand how this creates positive relationships and results in repeat business and referrals. Find someone who cares enough to go the extra mile for you. Related Articles: How to Interview Agents, Part 1, Part 2, Part 3 and Part 4; Hot Market Tips: Buyers; and Hot Market Tips: Sellers |
| Don Dunning has been a full-time, licensed real estate agent since 1979 and a broker since 1982 and is past president of the Oakland Association of Realtors. He provides sales and hourly listing or consulting services with Wells & Bennett Realtors in Oakland and is an expert witness in real estate matters. Call him at (510) 485-7239, or e-mail him at , to put his knowledge and experience to work for you. |
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Permission is given to freely copy any or all articles for personal and noncommercial use provided they are copied in full without modification and that proper attribution is given. These articles may not be published, broadcast, rewritten, nor linked to from another site. Banner photo by S. Dunning, Copyright © 2007-2015 |