How in the world does someone get the needed experience to become a terrific agent, not just a good one, if no one gives them a chance to get that experience. A new MD is called an "intern" for a reason. They are being trained (an internship) and guided by a seasoned MD to learn their craft. So why shouldn't a RE agent??
I still stand by my statement that just because they are new doesn't mean unable to do the job, even if it means relying on some consultation with their broker/ mentor/ partner agent.
There are PLENTY of really lousy agents with years of experience but who have lost their drive. A newer agent will have the drive. A newer agent will have the technology savviness you want. A new agent will have TIME for you. A new agent will ask for advise if they aren't sure of something. I know plenty of "seasoned agents" whose record is impressive on first glance, but most of the clients are not repeaters/ past client referrals etc., because they don't have what it takes to deserve the referrals. People gravitate to them because they are under the misconcenption that years of experience means "great service" and that ain't necessarily so.
I do agree, you should interview agents and be comfortable with them, you will probably be working with them for a while, However you should not judge them solely because they are new.
Yes there really is a difference. Do your research, Ask friends, relatives and co-workers who they would suggest. Then interview them over the phone if you like. An experienced, knowledgable agent can guide you through a smooth transaction.Experience will make a difference in your real estate activities. don't sell yourself short! Find an experienced agent, let the new agents try out with someone else. Good luck
I have found that newer agents can sometimes be more up-to-date on new contracts as well as new technology that can directly benefit a buyer or seller.
Definitely interview ANY agent that you are considering using.
I found that just because someone has been in the business for a while, does not mean that they know what they are doing, or are any good at working with PEOPLE.
Best of luck!!
I don't care how much experience/knowledge an agent has or doesn't have. As long as s/he is open, easy to get along with, flexible, and diligent, then I can work with him/her. If an agent doesn't know what I need for him/her to know, then I can help train him/her to do what I need for him/her to do. Yet, if s/he can take the ball and run with it, then I'll gladly give him/her the ball, and let him/her run with it.
Occasionally, I've gotten involved in some deals where neither I nor my agent had sufficient experience. So we learned what we needed to learn together. The point is I trust that an agent, with the previous 4 qualities I want, is sufficiently capable of getting the job done well. I don't care about top performer designations; some rookie agents will eventually become top performers over time.
It is all about knowledge, commuication, wisdom and drive to assist buyers and sellers to meet the goal. If a agent is missing these skills it will be difficult for them to perform.
Certified Distressed Property Expert
Its a little disconcerting when i speak with people that are getting terrible advice from "20 years in the business" agents. The most important qualities you should look for in selecting an agent are: honesty, trustworthiness (does that person have your best intersts at heart?), and competency (does this person appear to know what he or she is doing?).
Watch out for pushy agents (the ones that are trying to oversell a property that you aren't the least bit interested in). A good agent, whether he or she has a few months or over 30 years of experience, should be able to tell what your needs and preferences are within a few showings and step aside as you arrive at your own conclusions. He or she should answer all your questions in a timely manner and guide you through the purchasing process without stressing you out.
You should find someone who is down to earth and acts natural. Find someone that will work extra hard for you and is grateful that you chose him or her to represent you in a real estate transaction. Let your gut instincts guide you to the right agent.
As a newer agent myself I would agree that RE school teaches very little and experience counts for a lot. In my case, my broker is truly one of the best in the business and I often tell people that they are getting 2 for the price of one: her experience and gentle guidance throughout the process and my time and enthusiasm.
As others have mentioned, there are some terrible agents who have been in the business for a long time and obviously there are some of us newer ones who have everything to prove and want to do just that. I believe as long as a new agent has the backing of an experienced mentor and/or broker and gets back to you on a timely basis regarding questions they don't know, you will do just fine.
That being said, interview extensively until you find someone you are comfortable with because odds are you will be working with this person for a while and they will be helping you in purchasing what is most likely the largest investment of your life.
Remember, knowledge is power.
Tierra Antigua Realty
after which he hung up on me.did his actions best serve his client or himself?As I say there are many pretty faces out there. Pick one trustworthy with experience and skills. Check their value system and standards. Are they there for themselves or are they confident that how well the represent you will help them in the long run. Tha stories could go on and on.
I don't have a dog in this hunt, here is my perpsective as an out of area agent.
Experienced doesn't mean active. There are many agents been in the business 40 years, but do three deals a year, are not technology savy and quite frankly don't know the markets, tour broker opens network with agents and generally transact business. On the other hand, you have agents with 35 listings, three part time assistants and you get zero personal service. You end up working with a rooky who works for the big name active agent in your area. My suggestion is to go with an agent with 5-10 years experience, 3-10 listings and zero licensed assistants to get personal attention.
if you like my answer, please mark best answer, thanks!
1) Make sure they are up with the times
2) Ask them how many sales transactions have then been in.
3) Ask about the sales track of the Realty as well.
4) Ask newer Agents if they have a mentor to fall back on
5) Make sure that will list you on MLS
6) Ask them what their sales strategy is for your property
7) Interview more than one Agent and from mnore than one Realty
8) Ask for copies of past properties and how they were marketed
9) Don't pick an Agent on the first day you look for one
10) Observe how they dress and how they present themselves
11) Make sure they communicate well, as well as spelling
12) Make sure they are internet smart. most homes are found on the internet
13) Make sure that they do more than the average bear for you
14) See what coverage they have in case they may not be able to see the trasaction to close
15) Make sure they are easy to reach at all times
16) Make sure they contact you at least once or twice a week to keep you updated
Communication is important, keeping you up to date is very important, good marketing practice, and complete availability are most important if you wish to have a successful sale whether you are buyer or seller!
Licensed Associate Broker
There is a big difference between newer agents and agents that have been around a while. But, there are those new agents that have prior business experience and know how to do their due diligence and apply that experience to Real Estate sales.
But remember, this business has a LOT of returning to work people with absolutely no business experience, client experience and or any sales experience whatsoever.. Judging by your question, you seem to be able to read people.
Keep looking for the right Realtor hat can help you.. one that you feel comfortable that will be able to help you find your new home. There are many of us out there.. But, like any other business you have to weed through the good and the bad.
email or call to discuss if you choose!
Sory, I had to repost it becasue of my dopey typos! :)
Experience is important but so are natural ability, training, work ethic and motivation. A client is best served if the agent is expert in the area of interest to the client. So while Joe Agent may not be a short sale maven, or have 10 years in the business, if you're purchasing a condo that isn't a short sale and Joe specializes in condos in the area you're interested in, Joe's probably a good bet as long as he has good references, is a full time agent and you feel confident he knows his stuff.
Make sure your agent knows their product, locations you're interested in, is a skilled negotiator and can walk you through the process as a first-time home buyer, which I'm assuming you are? Things come up during even the most mundane real estate transactions that require knowledge about which options are available and the likely outcome of each. In order to achieve the best result for the client, an agent has to know how to take advantage of opportunities, when to press an advantage, and when to leave well enough alone.
Interview several agents before making a decision that can affect your bottom line. Just as you don't want to settle for any home, don't settle for any agent to represent your interests. Your're the client. Take your time, be confident in your decision and enjoy the process! Good luck : )
One time there was a contest in our real estate office, the agent who could answer the most question correctly on the list would win. We had 15 minutes to complete it. I went to the computer, found the answers and answered with 100% accuracy. The loosers said I cheated. My response, "A good agent doesn't necessarily know all the answers, they just need to know which ones they don't know and where to go to get the answer". I won.
The mistake some new agents make is they think they need to answer all their clients questions. There is no way any one person can know if all. If the agent has enough confidence to say I don't know, professionalism to say I'll find out who knows, and follow through, then they are ahead of the game. Most new agents are so afraid of making a mistake that they are double and triple checking themselves.
With that, there is something to be said about experience and gaining the knowledge to come to creative solutions when presented with a challenge.
No just passing the test does not an agent make. There are (learned) skills that are needed to be a good RE agent. BUT I know that many new agents nowadays have had other jobs, responsible, decision making jobs, before they went into real estate, so it's not like you would be dealing with people with no work/life experience, or ability to make decisions and problem solve (two good traits in an RE agent among others).
I think if the "new" agent is familiar with the area you are looking in (I.e.: lived there a length if time), had good training from their company AFTER RE school, has a good back up system (like a mentor at the office to guide them..problems arise in every transaction that are new no matter how long you have been in the business) and you trust them, there is no reason not to use them.
When I was a new agent, I always told the clients that if i didn't know the answer to something, I would go out of my way to find out the answer for them (not make one up on the fly). There is no way to know everything about everything anyway.
As long as someone has the determination and perserverence to follow up and work for you, I see no problem using a new agent.
WOW! I CAN NOT UNDERSTAND WHY ANY AGENT WOULD THINK OF A NEW AGENT NOT EXPERIENCED
AFTER THEY WENT TO SCHOOL TO LEARN, I WAS READING ALL OF THESE LONG STORYS TO TESSA, AND DO ANY OF YOU THINK YOU, SCORED, THIS PERSON SEEN HOW AGENTS PERFORM AT ONE TO ANOTHER THATS WHY AGENTS TO BROKERS HAVE TO GO TO CLASS AGAIN TO TAKE A TEST AND THAT IS FOR EVERY ONE NEW AND OLD REALTORS I HOPE IN FUTURE WE CAN ALL SPEAK OF EACH OTHER IN GOOD TERMS LIKE DOCTORS ATTORNEYS AND COPS ALL HELP EACH OTHER IT DONT MATTER IF YOU, ARE NEW OR OLD AS LONG AS YOU, CARE, I WISH THE VERY BEST TO ALL OF US AND MORE SALES IN 2011,
Could you please re-submit this post in English, and without typing in all capitals. I literally cannot understand a word you are saying in this garbled post.
Yes, experience is important, but I don't always mean the amount of time an agent is in business. If an agent has been around for a while and is not in the top 20% of the salespeople in your area then they may not have much experience. The top 20% of agents sell 80% of homes sold. It means there are a lot of agents who don't sell much and as a result don't really have a lot of experience even though they may years in the business. Finding an active experienced agent will make a real estate transaction much easier. As far as a new agent with a mentor, that depends on the mentor. It also means that while an inexperienced agent is showing you an older home they may not spot the asbestos hanging in the basement or notice the buried oil tank in the front yard. This could add to a lot of wasted time or a real headache later. I think most of the time experience does make a difference.
Donald A. Mituzas
Licensed Associate Broker
2008 Realtor of the Year
Prudential Douglas Elliman
As you can tell by all the answers, everyone has an opinion. I'm not going to tell you that you'd be foolish to work with a new agent, but I would do my research. I live my life through referrals on an everyday basis. Weather it be my dentist, vet, mechanic, tutor, business coach and so on. In all of these cases, I ask people I know who they would use, research the BBB and ask for referrals from past and current clients. A real estate transaction is one of the bigger events of your life money wise. Can you trust someone who can't answer your questions.....I can't.
On the other hand, we were all new agents at one time or another. Using a new agent can be very rewarding. Their enthusiasm is great; just make sure they have an experienced mentor to help the process along and watch out for your best interest.
P.S. There are some very uneducated agents with years of experience.....Ask for referrals!!
What I have gotten out of my first months as a Realtor is that it is very important to use the resources available, whether a seasoned veteran or a new agent such as my self.
So in answering your question, I feel like experience might not be the most important aspect to look for in an Agent, but maybe their desire to get you what you want for the right terms and conditions. In watching other agents, both seasoned and beginners, I have noticed everyone asks questions no matter their experience in the industry. So choose someone you feel is working for your best interest and not just getting the transaction completed. Honesty and a hard working attitude is what I like to see in other agents, not just the amount of houses they have under their belt.
You've received a number of great replies to your question. What I didn't see mentioned and I failed to mention in my earlier post is if you are asking about a buyer's agent or seller's agent. There are many good agents who have had most of their experience on one side of the transaction or other. Newer agents tend to have more experience with buyers then sellers. In a nutshell, most have said that you want an experienced agent, but not one with one foot in the grave. Many years of experience does not mean they are very active now. You want an active agent with one caveat. I've seen agents advertise that they are in the top 1% on their MLS and are great negotiators only to find out that they did 50 rentals and only one sale. That doesn't help you if you are buying or selling. Don't be afraid to ask agents questions. You might find that there are many who really aren't that good and don't want to respond to your questions. You can move on from them.
Marketing skills and pricing is much more important if you are a seller. This includes, but is not limited to a good web site that can be easily found on the web. Easily found being the key words. Check their listings for picture quality. Lack of photos or poor quality photos is a bad sign. Don't be too impressed by virtual tours. Many people find them a pain in the neck and would rather see high quality photos. An overall knowledge of construction and mortgage financing is helpful if you are a buyer. It is also VERY important that a buyer's agent have great negotiating skills and a plan to carry out your wishes to buy a house and do it at the best price and terms. No one negotiating strategy will work for all homes. How an offer is presented on a home that just hit the market at a great price is VERY different from presenting an offer on a home that's been on the market for a long time and is priced a bit high. There is a strategy to this that can make the difference in you getting the house or not and getting it at the right price and terms. You could interview an agent and ask specifically how they would handle each situation.
It was nice to see so many helpful answers to your question. I do disagree a bit about a new agent with a mentor. I've been with a couple of great companies in the past and didn't see the "great" mentoring. As someone who has been active and full time for close to 20 years I have yet to see it with any company. Not that I need a mentor at this point, but perhaps I'll see it with the company I'm joining tomorrow, Prudential Douglas Elliman.
Donald A. Mituzas
Licensed Associate Broker
2008 Realtor of the Year
Prudential Douglas Elliman Real Estate
When I was a newbie agent... I made a point to flat out know more than anyone in my market place.. If I didn't know.. I was quick to say "I don't know, but I know someone who does... give me a minute and I'll get you the right answer."
You are dealing with your largest investment.. in most cases... So... you want to come up with some questions that will make you feel comfortable... and they are tough ones for agents:
1. Why should I use you instead of a different agent?
2. Do you have any references I can contact?
3. How many homes have you sold? How many of those did you represent the buyer?
4. Can you pull me a stat sheet on your past 12 months? I'd like to see your percentage of list price to contract price (to see how much off the price they were able to negotiate for the buyer) - This is not really a fair question because every home is different.. but it is good to gage the reaction to the question...
5. Do you own a home yourself, or are you renting? (Agents who don't own their own homes scare me.) Doesnt mean they are bad at what they do... but it seems odd to not own a product that you yourself sell....
6. How much do you know about mortgages? Are you able to guide me through that process and be my catch all? Will you be able to tell if I am not getting the best deal on a mortgage?
7. How many active clients do you have right now looking at homes? (If you are the only one... there is probably a reason for that!)
I know agents everywhere are hating me for this one... but the fact is... if an agent doesnt have pretty good answers to these questions... you may want to keep looking.
I feel that you must decide upon the services that the agent is willing to render and if you feel confident in their abilities to deliver, then go with them regardless of how long they've been in the business. Most new agents are shadowed by senior agents or their managing broker and are just a capable as senior agents. They are all licensed agents. But, not all agents render the same quality of service, even senior so called experienced agents. It's up to you; but, don't disqualify a new agent just because he/she has only been in the business a short while. You may miss out on an "Awesome" agent and end up with a personally detached senior agent that's just looking to meet their sells goals regardless of your needs.
Take care, Tessa!
I would add that being new to Real Estate Sales does not mean new to Real Estate. There is Real Estate investing experience and success, property management and renovations as well as construction management. Also, a savvy consumer who has purchased and sold homes in varied markets and market conditions has excellent insight into the process and can â€œwalk in the clientâ€™s shoesâ€. Lastly, the process on purchasing a home is a project from initial research, home previews, making an offer and closing. Effective management skills are also essential to a smooth process!
Wisdom definately comes from experience and the fact that this person expressed concerns about a new agents inability to answer questions does prove that it can greatly effect an agency relationship. On a more positive note, this also shows that this person was keen enough to recognize this as a potential problem. I think it's both the clients responsibility to make sure they're honest with themselves about the service they deserve. Never stop asking pertinent questions because you feel the agent won't be able to answer them.
I have to agree that some agents often do well when they first enter the business due to previous sales, marketing or extensive consumer related training. I knew a few Realtors who became newly licensed with years of experience running their own successful businesses in other industries and because of this it helped them excel and incorporate unique benefits for their clients. Any new agent who adapts to challenges, continues to learn from their mistakes and tries to better their skill is a good agent. Ultimately, they will better service each one of their client as they grow.
Food for thought: Most new agents, the ones who are determined to establish a progressive career, will do everything it takes to deliver positive results. This means educating themselves to better provide answers to difficult questions. *They may even become more committed to you because they often times have fewer clients and the flexible hours to compensate your schedule. I've heard from clients who had previously worked with other seasoned professionals and they didn't feel like they were receiving 100% of the individual attention they required. At the end of the day, our business is about people and the relationships we create. My advice, don't let another persons experience detour you from working with an agent whom you can trust to guide you through one of the most important transactions of your life.
Best Wishes & Good Luck!
Katrina Roth, RealtorÂ®
Keller Williams VIP Properties
25124 Springfield Court, Suite 100
Valencia, CA 91355
(661) 208-1855 Direct
(661) 291-1463 Fax
Picking a realtor comes down to one very important item..."do you trust this professional to protect your best interests in what may be the biggest investment of you life?" If you answer yes, than this professional will utilize their resources and experts for specialized concerns.
One good way to hunt out that Realtor who really serves is to go to open houses and treat it like you are interviewing them. Good Luck!
Don't discount the newer agents accross the board. They may have new and innovative ways to market your property. Some Realtors are stuck in 1980 methods to market homes. Some newer agents may be willing to do open houses every weekend or plaster the neighborhood with flyers or whatever the "next big thing" is. You need to interview several Realtors and decide which one you connect with. Who listens to you? What will they do to market your home? I would meet with at least four agents and see who stands out of the crowd. I wish you luck on selecting a Realtor and selling your home.
If that is the case and you did not feel that you received the answers you were expecting then look for a agent that works for and with buyers exclusively. This is the way to know you have your own agent, now this does not mean this agent has all the answers to all questions this is where experience comes in. This being said most professional Buyers Brokers have years of experience look for these letters after their name>>>ABR,CBR,CRB,GRI,CRS, these letters say that this agent has extended their knowledge and has years of experience these take years to get and they cannot be bought.
The best agents also have a great support staff which is available for their clients to use such as Attorney's, CPA, Title Company, Home Inspector, and Banker/Broker just to name a few and these should be the best of the best for the experience buyers broker.
I say these things because I am and Experienced Exlcusive Buyers Broker who does have the credentials and the years of experience along with a quality support systems to protect my clients. The one thing to remember is answers may not be what you want to hear all of the time but a professional in any field does not tell you what you want to hear they tell you what you need to know. To find a buyers broker in North Jersey just go to the link below look for and exclusive buyers broker they do not list homes and they will work even on for sale by owners and other options
Hope this is your final answers that delivers what you want
Happy Home Hunting
Tim Robbins, Sr.
Exclusive Buyers Broker
Better Homes Realty
Serving All of Atlantic and Cape May County's in New Jersey
Experience in the real estate world has many aspects to it as well. Knowledge, passion, diligence, friendly manner are all aspects of experience and that is just the start.
Obviously, every new agent starts somewhere. They do have a support system in their office and even if they don't know an answer to a specific question, they can get the proper response. I can't imagine what queswtions you had that stumped your agent and since there are websites like this one, you most likely can get answers here.
Don't expect any agent/broker to answer legal questions or questions about your mortgage. Take those to the proper professional. After all the stories I hear about the educated consumer, what don't you know?
Bottom line, you can always go elsewhere, unless this inexperienced agent has a listing you want to purchase. If that is the case, perhaps some of your questions go against her fiduciary responsibility to her client. Good luck.
The best advice is listen to your friend who had a great experience meet with the agent and see if you click it does not matter if you do not feel comfortable or have trust. Not to mention make sure the agent is working only for you. This is the most important issue you can back the agent up with a good Real Estate Attorney.
Happy New Year
But years of experience doesn't mean the one with the most number of years is better than a newer agent. One should factor how the agent adds to his knowledge base by completing more certifications, attending seminars, employing technology, delving into different kinds of listings and sales (for example, to this day, some agents may still shy away from short sales --- but if they don't do it, how will they know how?)
However, it also depends on the type of questions you asked --- agents are limited to answer questions within their scope of expertise.
First, we're not prophets, and we can't answer questions about where market prices/values are headed. We can only speculate like you can. Second, we can't and shouldn't answer questions that are in the purview of a lawyer, tax accountant, etc. In such a situation, the best thing we can do is to refer you to those professionals. In other situations, give the agent an opportunity to do some research -- not knowing doesn't mean he is not resourceful enough to get you your answers.
You have many conflicting opinions here. So I guess you will have to sift through them to make your choice. I just want to add that I have worked with some "so-called experienced agents" who have dropped the ball and caused many problems. Experience is not always the key.
When I was in my first year of real estate, I did my first short sale. I worked with the buyer's agent and together we got it done. She was from another company, but we worked together and she helped educate me on the process and that was worth more than five years of classroom education. We closed the deal in 5 weeks from offer to closing.
So you see, it is not always about the experience. If the agent is a good one, they will do whatever it takes to make sure that your interests are represented to the fullest and put your needs above all else.
When you want to begin looking for a home, you will need to find a Realtor. First you should ask friends, relatives, or co-workers for a recommendation. Have them describe their experience with the agent and ask why they are recommending that person. You want to choose someone that you feel comfortable in working with.
It is not as important to find a Realtor who has sold the most homes, has the most experience or works for the largest and most well-known company as it is to find someone that is professional. You want an agent that will listen to you, uses ethical conduct, and knows the market.
You can also attend open houses and meet real estate agents. See how they interact with you and answer your questions. Pay attention to how they show the home. Take notes and collect business cards. Then you can compare the agents you saw.
Look at web sites of Realtors or real estate agents. Read any testimonials they have. Call them up and ask questions about their experience and how they work with buyers. Get a feel for them and what they can do for you.
You also want an agent that will work within your schedule. Most of the time it needs to be someone who works as an agent full-time. They are available days, nights, and weekends. Not all agents work the same way. Find one that you are comfortable with. Trust your instincts.
Tammy Hayes, Realtor, Sandals Realty, Punta Gorda, FL email@example.com
Please dont take this as me knocking everyone who have been in the business for years. I have learned al ot and respect all of you, but new agents can and will close deals all day long if they have DRIVE, MINDSET, AND SUPPORT IS THERE.
MERRY CHRISTMAS EVERYONE.