Pick Your Real Estate Agent Very Wisely!

Let’s face it, when you are looking to buy or sell real estate, you have PLENTY of options on who to work with (1,700 or so in Des Moines.. no, I’m NOT kidding!). This is why I think this is a post that is extremely important. If you dig deeper, you’ll find a lot of the 1,700 agents in Des Moines are part-timers. You might ask, Tyler – what’s wrong with a part-time real estate agent? Well, I’m glad that you’ve asked; let me explain to you why it is extremely important you work with a true professional when dealing with real estate!

A Very Quick Disclaimer – I have known a few part-timers that do it as well or better than some full time agents, so this is a general rule.. but there are few exceptions.

Let’s say you’re selling your home. You list it with a new agent; they do a nice job of talking you through the general marketing package that they offer. You don’t ask many questions, assuming everything is the same from agent to agent. A week later, you find out that another agent tried to get in touch with your realtor at 10am to show your home later that evening and they were unavailable. You begin wondering, why wasn’t (s)he available to take the call? You think nothing of it, but it continues to be an issue. You find when you have questions, they aren’t answered until late in the evenings or on the weekends. You quickly realize, you’ve signed a 6 month listing contract with a PART-TIME AGENT.

Sound familiar? Hopefully not! This problem occurs with home buyers as well. Unfortunately, I fell into the trap when I purchased my first home. I met an extremely nice realtor at an open house. Shortly after the open house, I started e-mailing him properties I liked so that he could show them to me, due to his wacky (OTHER JOB’S) schedule it was usually in the evenings and on the weekends. Finally, I found a home I liked. I practically wrote the offer myself with no opinion or advice from my realtor and he simply placed his name on the agreement. From the day the agreement was signed until closing, I NEVER heard from my agent. Why?.. Because he was busy changing oil at a local dealership. Am I bitter?… no. Do I have a problem with mechanics?.. as long as you’re not representing me on a very important real estate transaction. Hindsight 20/20, I could have worked with a top notch realtor. One that would have represented me much more effectively, and probably could have bought the home for thousands less. Instead I ended up forking over a huge commission to a guy that still (to this day) works at your local lube shop.

With my time in the mortgage industry (4 years), I have found that many of the part time real estate agents are in the business because they love the additional income. Honestly, I don’t blame them, who wouldn’t! If I could sell a home for $200,000 and make around $4,000 you’d probably have my attention too (some agents make more or less depending on the commission charged and their split with their broker). Here’s where it gets hairy – if the agent that is representing you doesn’t know the market, the process or the legal things inside and out – you could have some huge headaches that could cost you tens of thousands of dollars.

Often real estate agents get a bad reputation for the commissions they earn on each individual transaction. I personally believe that real estate agents earn every penny they get! If you’ve seen some of the things that can happen before, during and after the transaction, you would too! For example, if you end up in mediation, you want to have a great agent in your corner. If you have a top notch agent working for you, you’ll buy the right home at the right price. If you sell with a top notch agent, they will help you market your home in ways you’ve never considered and get it sold faster and for as much as the market can provide.

There are many ways to see if you’re working with a true professional, here are some good questions to start with:

Ask the agent if they are a full time agent (don’t be shy about this, you deserve to know!)
Find out how many transactions they are closing each month or year. Many local companies will promote their top producers through annual publications found in the Des Moines Register.
Ask them specific questions about the market where you’re buying or selling.
Ask what time they are available to answer questions (from you or potential buyers), show you homes or take calls about showing your home?
What makes them different from the other agents in our area?
Ask them to provide you with a few testimonials or references.
Look for additional certifications that they have earned (details below).

If you feel comfortable with the agent, then move forward working with them! If you’re not impressed, move on and interview more agents! You have options.

I’ve had the pleasure of working with some excellent agents. One thing that has stood out to me are the agents that go above the call of duty and work hard to earn specific designations.

Here are a couple to look for:

ABR – Accredited Buyers Representative – this is the benchmark of excellence in buyer representation. Click here for requirements.
CRS – Council of Residential Specialists – fewer than 4% of realtors carry this designation. It is the highest professional designation awarded in their field. Click here for requirements.
CBR – Certified Buyers Representative
GRI – Graduate Realtor Institute
CSP – Certified Staging Professional
ALC – Accredited Land Consultant – Experts with of specialized land services such as farms, ranches, raw land sales and development.
e-Pro – A certification designating you as a professional at handling all aspects of the industry online.
CRE – Counselor of Real Estate – Only 1,100 members! An international group of pros that have seasoned and objective advice on real property and land.
REPA – Real Estate Professional Assistant – A designation for support staff that may or may not be licensed. Designed to make assistants a larger asset to their team.

Hopefully with this information, you’ll pick your real estate agent wisely! Let someone else be the one transaction that part-time agent closes this year. Choose to work with a pro!

Here’s a quick (and funny) video *Warning.. I’d rate it PG-13*
This is how I imagine real estate brokers recruiting all of these part-time agents. ‘You’re so beautiful, you could be a part-time realtor… but you’d probably still have to keep your normal job’.