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their pros and cons, so make sure that you feel comfortable with the agent,
and that you don’t feel rushed or intimidated by him/her. Do you feel that
he/she respects your preferences? Because the agent plays such an integral
role, including helping choose the other key professionals in the process, it is
vital that you establish trust as well as a good rapport.
Don’t worry about choosing an agent who has a lot of his or her own listings.
All agents have access to the same available houses; any agent can show
you a house listed by another agent, even if they are not part of the same office.
In fact, using the listing agent as your own agent can potentially create
a conflict of interest: the listing agent is working on the seller’s behalf and is
legally bound to negotiate for him, which may impact your ability to negotiate
a better price or other concessions.
If you do have a particular area or type of house in mind — if you’re only
looking within a specific neighborhood, or if you prefer a newly constructed
home — you may choose to look for an agent who specializes in that field. To
determine who that specialist is, inquire how many of that type of house an
individual agent has sold, and speak to references who have bought that type
of house through the agent.
Agent Exclusivity
The advantage of commitment to a particular agent cannot be overstated. While
in many industries, it is common practice to pay a retainer or a fee for any visit,
regardless of the job outcome, real estate agents are compensated only when a
sale is completed, which could theoretically take months or never happen at all.
A real estate agent, then, is motivated to do whatever he can to close a sale,
but will not be able to invest inordinate amounts of time in clients who are not
serious. If an agent realizes that the customer is shopping around, talking to
other agents, and calling sellers directly (any of which could cost the agent his
commission), the agent will be unable to give that particular search his all, as
his client’s trust is his only guarantee of ever being compensated for his time.
If you do speak with an agent other than your own, such as at an open house,
be upfront about the fact that you have already committed to a different agent.
When you commit to work exclusively with one agent, he or she will act as
an advocate on your behalf. If he is confident that he has your trust and your
business, that will be the incentive necessary to build a productive relationship
in which he does whatever he can to further your search.
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