Why Choosing a Great Real Estate Agent Matters More Than Ever

Some real estate agents treat client interactions and sales as transactional. But the consumer doesn’t look at it that way. Real estate transactions are usually caused by a life event. People are looking for a bigger home to raise their children, or the kids are gone, and it’s time to downsize. And it is typically the largest transaction a person will make in their lifetime. The good agents understand the importance of their role in this life event. Owning real estate is still the American dream.

Not many people move ‘just because’. It’s too expensive and too much of a hassle. There is typically a reason for it. Death, divorce, birth, retirement, job, or marriage. You get the idea. People may want to move to a different school district or even a different city altogether for a lifestyle change. And while the length of time people stay in their homes has increased for myriad reasons, they still move based on a need.

Real estate is what people own, but it is where we create our memories and live out our lives. It is also how we build long-term wealth and create stability. Ensure that when seeking out an agent, you feel the agent understands the importance of the endeavor and has the experience to execute it.  

Seek these 10 attributes.

When looking for a real estate agent, people often struggle to articulate what they want in an agent. Sometimes they look for familiarity. A for-sale sign in their neighborhood. An office located in their community. A familiar brokerage name. Or someone that they have met along the way.

You don’t necessarily need a top producer. Sometimes those folks are too busy to give you the attention you deserve. I am a fan of real estate teams within real estate companies where there is a top producer who has assembled a group of agents that they mentor and monitor to success. Don’t assume you will get the team lead giving you a lot of attention. Clearly lay out everyone’s roles if you go that direction.

There are a handful of things that should be on the ‘must-have’ list before working with an agent in today’s environment. And they are often hard to evaluate on the surface. Consumers often struggle to understand what these attributes actually look like in practice.

1.      Someone who always does the right thing for you, not necessarily for them. Will they always act in your best interests? Are they ethical? Are they your advocate? Do you trust them? While the industry is heavily governed by various entities, agents' success and how they run their business are on them. There is a difference between a good salesperson and an honorable business person. Your agent should be both.

2.      Excellent negotiation skills. Things aren’t always what they seem as offers unfold. They need to keep a level head and examine offers from all angles. They know how to sort through options effectively. Ask them to give you an example of a challenging situation with a client and how they resolved it.

3.      Up to date on all of the current changes in real estate and have market expertise. Someone who sells one property a year isn’t up to date with the current nature of the market and the industry. How do they stay up to date on industry and market changes? They should attend regular office meetings and training. They should read industry publications on real estate. Ask how many buyers and sellers they have successfully assisted in the last year. If they are primarily a listing agent, they may not really be interested in assisting you as a buyer.

4.      Network and Resources. Do they have local, trusted, vetted resources and partners, such as a handyman or stagers, that can help you? Ensure they aren’t just working with them for a kickback. Are they well-connected and have good relationships with other agents and companies? Ask how they will promote your open houses to agents outside of their own company. How will they promote it to the community? Creativity and outreach count.

5.      Confidently communicates. Before you hire them, gauge how their communication skills seem. Ask them how fast they typically respond to emails and texts (not just to you). Then hold them to it. Take a look at their communication. Ensure they will communicate in the manner you choose (text, email, phone, DM). Ask them to explain one element of the transaction and see how clearly they articulate that. Can they simplify the process and set clear expectations?

6.      Marketing savvy. They know the ‘why’ behind pricing and can tell a story to draw buyers in. They are confident in their market expertise and know what it takes to achieve success. But a flashy listing presentation does not necessarily a great agent make. It is all about strategy.

7.      Emotional Intelligence. Can they read the room, and do they have good instincts? This can’t be taught. A dash of empathy doesn’t hurt either at this often stressful time.

8.      Attention to detail. Dealing with complex negotiations and contracts takes someone who will take the time to ensure all of the ‘i’s’ are dotted, and the ‘t’s’ are crossed. Are they good with technology? They need to be relatively tech-savvy these days to keep up (or have someone who does it for them). Do they have systems to help them, like a CRM, to reach out to potential buyers or sellers? Some technology and systems have made the process easier, while others have made it more complex with many more options. Make sure they know the difference. There are a lot of moving parts in a real estate transaction.

9.      Professionalism. They treat this role as a career, not something part-time. They dress the part and act the part. They keep their car clean and are organized. They spend the money to stay on top of their game and competitive.

10.  But most importantly, they should be highly focused on risk management. That is to say, they will do everything in their power to ensure you make a sound purchase or sale without exposing you to risk. They need to make sure you have all the information you need to make informed decisions. If their real estate company has policies that aren’t in your best interest as their client, do they fall in line or do what’s best for you? Not seeing everything available on the market prevents you from making an informed decision. The end game is a successful transaction that doesn’t feel rushed, has no loose ends, and has no blind spots.

Worth their weight in gold.

Being a real estate agent is really hard, and the liability is huge. That is why there is such a high failure rate. People often underestimate the work and expense of building and running a real estate business. To illustrate this, here is a statistic that cannot be ignored. 75% of new real estate agents fail within their first year, and 87% fail within their first five years of practice. It’s not for the faint of heart.

You’ll notice I have not mentioned commission. That is up to you to decide what is fair and appropriate based on what they will do for you, what their experience brings, and what the market dictates. All commissions are negotiable. Even though they are affiliated with a brokerage, they pay most of their own expenses, which can be substantial each year. There is no bi-monthly salary or benefits paid. So please don’t nickel-and-dime them. The successful ones deserve every penny.

So how can you figure out if an agent has these attributes?

Social proof is one way. If you ask an agent if they are all of the above, most will say ‘yes’. But past customers are the best way to determine if an agent has the mettle to be your agent. Ask to speak with past customers and read online reviews. While bad reviews can be deleted in some places, they tend to resurface in locations that cannot be manipulated.

Just as interviewers ask potential job candidates what their weaknesses are, ask them the same thing. Their answer can be telling. This is, after all, a job interview. Price point matters. Some agents focus on the luxury market and some on first-time homeowners. Ensure your agent is experienced in your niche. Can they clarify their expertise in a way that is relatable and easy to understand? Saying they are ‘the top 15% of agents’ means nothing. How does that statistic translate to what they will do for you?

Find out how many transactions they have done in your community. That is why new agents often have a long runway to success. No one wants to be their first. If you are still unsure, talk to their branch manager or leadership and see if you can get a read on them. Do they receive referrals from past clients? If their past clients are sending their friends and family to the agent, you know they did a good job.

Ask if they have handled relocation clients. Agents who handle relocation clients must meet strict performance criteria, be solid communicators, meet deadlines, and follow directions. It is a great indicator of their ability to work as a team with a variety of stakeholders. Their leadership team has deemed them capable of handling this challenging business line. 

The brokerage matters too.

A brand-name brokerage may give us confidence, but sometimes smaller boutique brokers may be more dialed into their local marketplace and aren’t trying to constantly appease shareholders. I am more concerned about the agent than the brokerage they are affiliated with. But I will say that looking at the company's website and asking what resources it provides to them is telling. You want a brokerage that invests in its people and the customer experience.

While most companies have training and the licensing process teaches the fundamentals, the 10 attributes above aren’t necessarily taught in school. Listen to your gut and ask a lot of questions. Great agents want the best for you and will do everything every step of the way to ensure that happens.

I know a lot of agents. They are typically outgoing and engaging; they have to be, it is a people business. But they are all definitely not the same. There are 1.3 million real estate agents in the US. Real estate agents are a dime a dozen. You don’t need to settle for average.