Why You Need an Experienced Real Estate Agent

An experienced real estate agent is recommended if you’re looking to purchase a new home or sell your home quickly. Inexperienced agents can cause you to miss out on a home you really want and can also cost you time and money in the process.

Assessing experience

Instead of asking about the experience of an agent, you can ask how many times they have renewed their realty license. For example, in Oklahoma, real estate licenses can be issued for three years. New Hampshire’s term lasts two years. California has a four-year term.

To find out how long licenses last, search the website of your state’s realty commission or equivalent office. It is possible to determine how long an agent has been licensed by knowing how many times they have renewed it. This information can also be used as a starting point to gauge an agent’s track record. Agents who renew their licenses more than once are more likely to have a track record of closing deals.

The benefits of an experienced real estate agent

Anyone can search homes online and schedule viewings. You can search for sales or property assessments online using many municipal websites. Experienced real estate agents work in local areas on a daily basis and can offer the kind of information and advice that is difficult to find online.

Agents can provide valuable advice in a variety of ways, including:

• Relationship with other agents: Experienced agents are more likely to know other agents in their area, which can help speed up home sales. If you are looking to buy a home, your agent may be able to let other agents know so they can alert them when a house that is a good match is on the market.
• Market pulse: Experienced agents are able to identify and even forecast trends. They will tell you what neighborhoods are trending upward or downward and why. They can also advise you on when to act and when to wait.
• Experienced in negotiation: It is a skill that can only be mastered by practicing it often. It is important to know who you are dealing with. An experienced real estate agent can often give insight into who is most motivated to sell or buy quickly, and who is more patient to wait for a better deal.
• Knowledgeable referrals: To buy or sell a home, you will need to work with vendors like mortgage lenders and title companies. Home inspectors, appraisers, and general contractors are all necessary. Experienced agents are able to tell which vendors to trust and which ones to avoid.
• Local connections: Experienced agents will have connections in the City Hall and local industry. They know the impact of a top employer in the area on the market and whether it is expanding or cutting jobs. They often know about zoning changes that could affect specific neighborhoods and can inform you before they are published in the media.

Family and friend agents

It can be tempting to hire a family member or close friend to represent you as your agent. Because they are related to you, they are sometimes called “DNA agents”. Although it may sound like a good idea due to the familiarity, the best thing an agent can offer is objective advice.

Before you decide on the right agent, interview multiple agents. Don’t be afraid of asking for a negotiation on the commission.

You might be too careful to offend or challenge each other’s ideas or opinions with a family member or friend. Even if you feel it is in your best interests to do so, you may be too cautious. You might not feel comfortable demanding what you want from your friend or family member.

If the person is just starting out, it might be tempting to hire a relative. While it is great to help someone get started in the industry, your primary concern should be finding a good real estate agent that meets your needs.

A lot of inexperienced agents

Real estate agents’ jobs are expected to grow at a rate of about 7% over the next decade. This is slightly higher than the 5% growth rate for all jobs. It is not expected to grow at a steady pace, however. The real estate market fluctuates wildly at times due to economic factors.

If the market is in decline, experienced real estate agents can weather the storm. However, expect to see a lot more turnover among those with less experience. Real estate agents often leave the industry because they don’t make enough money. The median real estate agent salary in the United States is $48,000 per year. The lowest-paid 10% earn less than $25,000 annually. This can cause more turnover.

To help you identify the most skilled agents, it is important to ask about their experience.

• Communication: An agent should project an outgoing personality. Communication is essential for a job that requires you to communicate with many people. It’s normal to think that your agent should be friendly and communicate well.
• Time management and organization: Agents are busy and will have many clients to serve. You should ensure that the person you are dealing with is punctual and keeps appointments. It’s a bad sign if they have trouble with this.
• Patience: Conflict resolution will always be a part of real estate transactions. Agents who listen calmly while thinking logically are desirable.
• Self-promotion and marketing expertise: Would this person make you purchase something? That’s the bottom line. If you are unable to answer that question, then you shouldn’t choose that person as your agent.

The key takeaways

• Agents who renew their licenses more than once are more likely to have a track record of closing deals consistently.
• Real estate agents with experience can offer the kind of information and advice that is difficult to find online.
• An experienced real estate agent can help you build relationships with other agents and gain market knowledge.
• Good communication skills, patience, and marketing knowledge are important qualities to look for in a real estate agent.