Finding a Good Realtor - Why?

Can you imagine flying in an airplane and having an inexperienced air traffic controller guiding your plane through a storm? Or, imagine if an inexperienced doctor operated on your child, who got into a life-threatening accident?

If you said no to those questions; than why would thousands of people across the country, trust inexperienced Real Estate sales people to navigate one of the most important purchases of their life? That's because people trusted them. I do believe that has contributed, in some way, to the overall Real estate market crash we see happening throughout the country.

Our jobs as Real Esate agents is to have a fiduciary relationship with our clients. Part of that means helping steer our clients out of harms way. Especially if we, as Agents, know it is not in our clients best interest financially.

Here's how fiduciary is described in the dictionary:

"Fiduciaries owe two main duties to their clients: a duty of loyalty and a duty of care. The duty of loyalty requires that fiduciaries act solely in the interest of their clients, rather than in their own interest. Thus fiduciaries must not derive any direct or indirect profit from their position, and must avoid potential conflicts of interest. The duty of care requires that fiduciaries perform their functions with a high level of competence and thoroughness, in accordance with industry standards."

Obviously, there have been many agents not acting in "the duty of their clients, rather than in their own interest." Currently, there are 93, 920 Real estate offices nationwide, an increase of 44%. There are 2.6 million licensees, a 24% increase over 5 years, from the year 2000. Of that 2.6 million; 15% have been in the business 1 yr. or less and 43% have been in the business 3 yrs. or less.

With that many more agents and offices on the Real Estate landscape, how can you possibly tell which agent to use over another? That's the million dollar question - literally in some transactions. Fortunately there is help.

Here are a few suggestions:

1. Ask someone you trust to refer you an Agent they've used and trust. Fact: More than 1/2 of Sellers and Buyers found their Agent through a referral.

2. Look for Agents with Accreditations such as: ABR; E-Pro,CRS, CCIM, and GRI to name a few. These are additional courses an Agent can take to enhance their knowledge of the industry and stay abreast of constant changes to the market.

3. Call your local Board of Realtors, and ask them if they can help you find someone. Especially if you're new to the area.

Investing in Real estate can be very rewarding - if you have selected the right Agent. A good Agent usually has a team of knowledgable and trustworthy people they work closely with such as a lender, escrow company, and in some cases, contractor. As a team they should help you make a better decision whether you're purchasing or selling.

As I stated before; you would never trust an inexperienced doctor with the care of your child. It is critically important you don't put your financial life in the hands of an experienced Agent. May you find the right Agent for you and Happy House Hunting!n