Monday, February 25, 2008

How Successful is Your Realtor?

I'm a huge advocate of buyer and sellers making sure they are working with a successful and professional Realtor. Many buyers and sellers use a family member or a friend. Or even worse, a friend of a friend. The sad part is that those buyers and sellers never know if they are actually working with someone who knows what the hell they are doing. This blog post from a Realtor in Western New York addresses this issue and does a great job of explaining why it's important to ask your Realtor, "How many transactions did you close last year?"

If your Realtor closes 2 or 3 deals a year do you really think they know how to negotiate on your behalf to get you the best deal possible? Do you think they know and understand their market and sales statistics? Real estate contracts and amendments change all the time and if someone isn't constantly utilizing these legally binding documents do you really want to put your transaction in their hands? Or would you rather work with someone who closes 30 or 40 deals a year?

This seems like a no brainer to me but yet there are many buyers and sellers out there right now who are working with a subpar Realtor. And I don't blame the Realtor as much as I blame the people who chose them.


  1. Hey Jeff,

    I think Wayne hit the nail on the head. It is extremely tough enough in this market to get the job done. It's even tougher with a bunch of unprofessionals in the way.

    We need to educate the consumer as to the difference.

    Also, we would like to invite you to be a guest author on our blog if you are interested.

  2. This has never been more true than now. This current market is so hit and miss where one part of town is doing different than another and the guidance a realtor can give you is key.

    Don't ever work with a realtor thats a friend or friend of a friend unless you interview them first. Ask how many homes they have sold in last 5 years. Ask how they intend to market the house. Ask them how this current market is effecting each community and how they differ if you don't get the answers you need to buy or sell a home then move on.

  3. I wish all real estate professionals would hammer this point home with their clients. Unfortunately it's the part-timers and the "friends" that take advantage of their client's ignorance.

  4. It is like vicious circle - people don't have confidence in realtors, because our image is not well presented especially by media (remember that Simpsons episode?:) ) But people don't realise, it is usually "friend-realtor" who fails and is spoiling business image. We have been dealing with condos in Toronto for pretty long time so I know how the real estate business is complicated, even if it may not look like that...