HomeZada is a huge asset when it comes to selling your home, but failing to pair it with a top agent could mean months on the market, costing you thousands. There are a lot of licensed real estate agents, but actually very few who do it well enough for a full-time living. And even fewer who consistently outperform the local market. You’d probably never invest your money with a part-time financial planner, or have a procedure done by a part-time doctor; that’s why using a friend who’s a part-time real estate agent, though simple, might not actually be the best choice.
In Los Angeles, for example, 20,199 agents have listed or sold a home in a the last year, but only 25% have actually helped more than one or two clients a year.
Knowing whether an agent is actually as good as they say they are is integral to your financial future. Defining a great real estate agent can sometimes seem difficult. But it’s these unexpected traits that really set the best apart from the rest.
1. Great Price Performance
Ever wondered how well an agent negotiates purchase or sale prices compared to other agents? It’s a telling piece of information. A buyer’s agent who consistently purchases homes for clients further under list price than the rest of the competition is likely to do the same for your home.
2. Top Market Performance
Sometimes markets are favorable for buyers, other times the market favors sellers. In difficult markets your agent can still have the ability to make a big difference in the price you pay. If, in a seller’s market, for example, the average home is selling for 10% over listing price, the agent who averages just 3% over listing price can get you a great deal, compared to the market average. You can’t always help the market climate in which you’re looking to buy or sell, but you can mitigate it with the proven top-performing agent.
Does your agent have an online presence? It’s of particular importance if you’re selling a home. If your agent isn’t tech-savvy enough to establish a visible online presence for themselves or their homes that you can find with a simple Google search, how easy do you expect it will be for potential buyers to find your property?
4. Neighborhood Specialization
Even neighborhoods in close proximity to one another can vary greatly. That is why it’s important to work with an agent who really knows the in’s and out’s of your neighborhood. A top seller’s agent will have a list of individuals in the area looking to buy a home like yours, and also know the appropriate pricing and negotiating strategies to entice your neighborhood’s distinct buyers.
5. Minimal Time on Market (when selling)
As a seller, you’re often looking to maximize your profit and minimize your home’s time to sell. Drawing out the inconveniences caused by open houses, contract negotiations – or even worse – carrying two mortgages is to no one’s benefit. A top seller’s agent establishes themselves as the best, because they have the ability to put more profit from the sale of your home in your pocket faster than other agents with their connections to qualified buyers and pricing strategies that attract multiple buyers.
About the Author: Marni Epstein-Mervis is a real estate and architecture journalist, and Editor at Agent Ace the data-driven real estate agent recommendation service.