Agent Or Agency

The single most important thing a buyer or seller of real estate will make is that of the agent they choose to represent them in the transaction.

I won’t bother re-hashing the things stated in previous posts (i.e. Who Really Works for the Buyer, 200 Reasons, etc.) but instead spend my time in this post taking about the difference between choosing an agent vs. choosing an agency.

Few buyers and sellers are aware of the fact that most agents are “independent contractors” working under the umbrella of a “broker of record” (the boss) who is often- times affiliated with a locally/regionally/nationally recognized brand.  I will not attempt to explain the pros and cons of local vs. national or (for example) RE/MAX vs. Coldwell Banker but rest assured there are certainly pros and cons to each.  Rather, it is important to a reader to understand that, to a very large degree, you are hiring an individual, not a company.  I know, I know, there is the argument that brands bring name recognition, advertising muscle, etc. but in the final analysis it’s all about the agent you choose to represent you and your property.

Knowledge, experience and personalities vary widely within any real estate office.  Focus first on an agent’s knowledge of the market and their tract record in the real estate business.  Ask questions!  This is, after all, an interview.  Finding an agent with a personality compatible with yours, while important, should not be a deciding factor…the bottom line is “will they get you the best deal possible?”

I continually meet frustrated buyers or sellers who cannot seem to get an agent to understand their needs.  They may get along great with an agent and love to have a cocktail with them, but if the job is not getting done, what is being accomplished?  Others find that their chosen agent lacks a true understanding the market that was not apparent in the beginning.  All of this can be overcome simple by asking a lot of questions before agreeing to sign a listing or buyer’s rep agreement.

To sum it all up, shop for an agent first and an agency second.