Know Your Agent Before You Start Looking For A Home
Real estate agents come from all walks of life, educational backgrounds, previous work experience, and ethnicity. If you are looking for a new home or planning to sell a home, you may do yourself a favor by knowing something more about the agents that you are considering dealing with than just the company they represent.
Unlike what most people think, the majority of real estate agents do not make fortunes. The poor housing economy of the “Great Recession” may have skewed the number a bit but the latest data shows that the majority of real estate agents make less than $100, 000 per year. Only 16 percent f real estate agents make over $100,000 a year.
It will not hurt your home buying or selling efforts to ask how much a prospective agent made in the last year. A high producer with a high income just may be an advantage to selling a high end home or a lower priced home.
Fourteen percent more women are real estate agents than men. Most psychological surveys indicate that people trust women more than men. That is one reason more women are news readers and reporters. Sex has nothing to do with how much you can trust a real estate agent.
The majority of real estate agents are Caucasian. If you have an ethnic preference or feel more comfortable dealing with an agent of your own race there are agents from every color and ethnicity to select from.
The vast majority of real estate agents are married. Only 15 percent of agents are divorced compared with 50 percent of the population in the United States. You might feel more comfortable dealing with an agent you know has the responsibilities of a family and home. You might get a better deal from someone who has to feed a family and pay bills.
Ninety-one percent of real estate agents have some college education. Education never hurts. The more educated a person is in financial and legal matters involving a real estate transaction the more likely you as a seller or buyer are to avoid the little errors that can make a deal fail or cause a long period of waiting for a deal to finally close.
The majority of real estate agents have former experience in business, finance, management, and sales. This experience can work to your advantage in negotiations, correctly completing all the paper work involved in a real estate transaction, and complying with all the laws your state imposes on a real estate sale. You cannot hurt yourself by asking about an agent’s experience and education.
All agents have to be licensed. This means they went to a state sponsored course and made at least 70 on the test. Most licensed real estate people are sales agents. Brokers and broker associates make up 42 percent of the licensed real estate professionals in the United States. Your choice of an agent or a broker depends on the type of property you are selling, the time frame you wish to sell in, and the amount of commission you plan to negotiate for.
Real estate agents are trained, educated, and experienced professionals that come from all walks of life. You never hurt your chances of getting the best agent for your particular real estate needs by asking about an agent’s background, education, and experience.