Selecting a Broker

Selecting a real estate agent to handle a large financial transaction can be a daunting process. In a competitive environment among real estate companies, and amid a difficult marketplace, it can be very confusing to know where to begin.

A good place to start is by opening a dialogue with each potential partner. While chemistry between client and real estate professional is important, it is not the only variable to consider. The history of the company, an agent’s individual success rate and the local market should impact the decision making process. Here are some guidelines and questions that can help open any communication with a potential partner:

Ideally perspective clients will want to partner with a sales associate who has a high percentage of completed transactions within the local market. While this number will vary depending upon how active the local real estate market is, a higher percentage is preferable.
The answer to this question also depends upon the local economy. However, a potential seller should have a time frame in mind for how long he or she is prepared to wait to sell.
Look for a figure that is close to what you would like to receive for your home. Again, be realistic according to current local sales figures.
Significant differences between original listing prices and ultimate sale prices can be an indication that list prices originally quoted were unrealistic

The answers to these questions will help you to determine which partner is right for you and your homeownership goals.