Reputation, Resonsiveness, Knowlege of local market conditions, knowledge of contracts, 100% commitment to you as the client and YOUR best interests.

Thu May 8 2008, 13:21

Good question.... As a buyer, you should be looking for someone who knows the specific area in which you're looking and knows it cold. What's being planned for schools, upcoming overrides, potential zoning changes, how the various neighborhoods within a town are valued, etc. You really need to consider a VERY local buyers' agent. Whenever I see a house sell for a lot more than it should have, it's usually an out-of-town buyer using an out-of-town agent.

You want to be careful about making a selection of your listing agent based upon with whom you play golf or tennis. You want a committed agent who is extremely market and marketing savvy and is a powerful negotiator. Too many people select an agent based on social connections - people, this is the largest investment of your lifetime.

Sun Feb 24 2008, 12:51

Rob,

As a buyer, the qualities I was looking for in a realtor are:

1. Understanding of specific market - I have had buyers realtors walk into a house and say "wow, this is a great deal", while I know that it is significantly overpriced on a square foot basis compared to other homes that had recently sold in the market, and has less to offer than those homes. Often the realtor is surprised when the buyer knows all this information, though a good amount of it is publicly available (see #3)

2. Agent's network - can the agent get you into a houses before it hits the market? This is important in hot areas, and some agents have built up enough goodwill with other agents that they can ask to show the house before the open house. Many of the homes I looked at did not make it to the open house.

3. Does not assume the buyer is clueless - While some buyers may be clueless about the market realities of an area, most people that are preparing to make a very large purchase have done research and know what they are talking about. They can go online and see what has sold and for how much. They can read local newspapers and real estate blogs. They can talk to people who have bought in the neighborhood. So, talk to you perspective client, and get an understanding of their knowledge of their desired market.

4. Is not pushing too hard or the commission - I discount a Realtor's credibility by about 50% when the first time we go to make an offer, he says "If you really want the house, you should consider offering full price" when I know that the house is over priced and will sit on the market for at least a few more months at its current price. I understand that the commission is better if I offer full price, but that is not why I hired you. Many Realtors will go on and on about how important it is to hire a buyer's agent because of their experience, knowledge of the market and constant training, and then when needed most show that none of that matters. Get an understanding of your potential clients needs - do they need to take the first house that comes along, or can they wait it out to find the right house at the right price.

5. Track record of initiative - Does the Realtor check FSBO sites, Craig's List, Zillow, etc... I understand that the Realtor is not going to go out of his way to show you a house that offers no commission, but many times a quick call to the homeowner will reveal that the owner is willing to pay the buyer's agent commission. I have had experiences where I have had to tell agents about homes for sale in the neighborhood that he/she is supposed to be looking at for me. That is very frustrating.

6. Negotiating skills - These are not in any order, but once an offer is placed this becomes #1. If I make an offer on a Thursday that expires on a Friday, i did so for a reason. I don't want the offer to last through the open house on Sunday - if so, why wouldn't a buyer wait? I want that offer to be either accepted, rejected or countered. Agents that allow the listing agent to string them along to use your offer as a stocking horse with other potential offers are doing you a disservice and you will regret hiring that agent. A good agent, however, will fight for you and help get a deal done. I found that there is no substitute for good negotiating skills once an offer is on the table.

These are just my experiences and I hope they help.

Wed Feb 20 2008, 08:14