Sage Advice From a Real Estate Team
The Best Advice When Hiring a Realtor®
Real estate agents may be one of the only professions in a double nature type of profession.
Take for example a family practice medical doctor. He doesn’t practice family medicine by day and switch to being a surgeon by night.
No more than an attorney representing the plaintiff will turn around and become the prosecuting attorney in a later case.
In contrast, a real estate agent can start the day showing houses and negotiating on a buyer’s behalf. Then switch over in the second part of the day review purchase offers for a listing they represent and negotiate on the seller’s behalf. Luckily this isn’t a split personality disorder. In fact, for a Realtor, it’s all in a day’s work.
The new real estate business model is teams. A basic real estate team will consist of a buyer’s agent, a listing (seller’s) agent and an administrative assistant. Real estate teams can get more complex from there, but this is the where a team starts. That being said, there is no difference between the classes a listing agent has to pass as compared to the classes a buyer’s agent has to pass. They’re all the same. One agent could do it all. But why would they want to? Like the African Proverb says: If you want to go fast, go alone. If you want to go far, go with a team.
Which begs the question, with all of the moving parts in one transaction why would one agent want to do it all? And how can they be effective in managing multiple transactions all in different stages? The answer: It’s very difficult.
When you bring in a real estate team you have real estate “specialists”, not “generalists”. For example us, Miranda Executive Realty. Our listing agent only works with sellers, and our buyer’s agent only works with buyers. This allows each of our agents to focus all of their attention on doing what they’re hired to do. When we get a property under contract with our client we pass the file to our administrator to handle all of the paperwork from contract to closing. We still go to inspections, appraisals etc and handle all of the negotiations, but our admin does all of the office work. Likewise our Inside Sales Agent handles all of the phone calls letting everyone know the property is available for sale and proactively searching for buyers. And each agent’s continuing education is geared specifically towards their specialty.
The subject of real estate double nature came up when we came across an article earlier this week discussing The 3 Things you shouldn’t talk about with a listing agent (for a buyer when out looking at homes with their real estate agent). The 3 things the author listed are: How much you like or dislike a house; what’s your purchase budget; and let your agent do all of the talking – which seems more like “don’t say anything” as opposed to what not to say.
As a team we certainly agree with all three. Keep in mind the same advice goes for sellers also. Your agent is there to use their knowledge and experience to gather the necessary information and prevent you from divulging too much and placing yourself in a weaker position during negotiations – and doing all of this with a smile. These are all situations where experience is key.
Bottom line, when hiring an agent there is no difference between the education requirements of a listing agent or a buyer’s agent. But every agent has different levels of experience. And every agent has strengths and weaknesses. After all, we are all human. Wouldn’t you want an agent that specializes in transactions similar to yours? When purchasing, wouldn’t you prefer an agent that only works and negotiates on behalf of buyers? Or when selling, working with an agent that works and negotiates only on behalf of sellers? A good buyer’s agent will have a different personality than a good listing agent. Working with a team allows each agent to specialize in their profession and allows us to place the right agent with the right job.
Whether you’re looking to buy or sell a home in Coral Springs or anywhere in Broward County, Miranda Executive Realty has an agent for you. English and Spanish speaking. Buyer’s agent, Seller’s agent and inside sales agent. And our administrator is ready to hold the office together. Take our advie and give us a call so we can talk about how we will make your next real estate experience better with our 6 Star ****** Guarantee. Most agents are OK with 5 stars, we promise 6 stars.
Or if you have a friend, family member or co-worker we can help, please pass our information along.
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