How to Find a Real Estate Agent: 5 Key Questions to Help Your Search
Starting Your Search for the Best Real Estate Agent for You
When it comes to finding a real estate agent, it can be difficult to know where to start. You need to feel confident that the person you’re choosing to represent your best interests in buying or selling a home is trustworthy, knowledgeable, and has a clear understanding of your desires.
Say you’re looking for homes in Indianapolis and you’re considering moving to Meridian Hills. Your ideal agent should be familiar with the area, knowing what types of homes are popular there, information on the local school district, and some quick market stats like average list price and time on market.
In addition to local market knowledge, you also want to be sure that the agent you work with has the personality and professional qualities that are important to you. Finding the right agent can take time, consideration, and a deeper understanding of the real estate industry that buyers and sellers don’t always have at their fingertips.
Not to worry. Below are five key questions (and their answers, explained) that will help you not only learn the basics of working with a real estate agent, but how to find one who is skilled, qualified, and most of all, a pleasure to work with.
Here we go!
1. What’s the difference between a listing agent and a selling agent?
Time to dig into some real estate lingo.
Depending on whether you’re looking for an agent to help you buy a home or sell a home, you might look for different specialists or ideally, someone who has the skills to help you do both.
Once you’re involved in an actual transaction to buy or sell a home, you might hear the terms listing agent and selling agent thrown around, respectively.
Listing Agent
When you’re selling your home, you’re looking for a listing agent. A good listing agent will help get your home on the market with a tried-and-true sales strategy in place. From determining a competitive price, to marketing your home to their network, a listing agent will work hard and complete a number of specific tasks to achieve the goal of selling your home.
Selling Agent
A selling agent, sometimes referred to as a buyer’s agent, is who you should look for when you need to buy a home. Selling agents will help you find homes that match your unique criteria, show you homes that you want to see in person, and ultimately, help you make an offer on the home you fall in love with. The work of an exceptional selling agent doesn’t end there, however, as the best selling agents will guide you through the inspection and appraisal process, title work, closing, and any other hiccups that might occur during the transaction.
2. What’s the difference between a broker, a managing broker, and a Realtor?
In Indiana, a broker is licensed to sell property in the state, but they cannot run their own real estate firm. Brokers are often referred to colloquially as real estate agents, or simply, agents. A managing broker, on the other hand, can run their own firm. Becoming a managing broker includes additional licensing and study.
A Realtor is someone who belongs to the National Association of REALTORS® (NAR). Realtors must abide by a code of ethics laid out by the NAR as part of their membership. Agents or brokers can be realtors, but so can property managers, appraisers, or other people under other real estate-related titles. According to NAR, approximately half of all real estate agents are Realtors.
Bottom line, working with a Realtor ensures you’re in the hands of someone who adheres to the highest level of ethics laid out in the industry.
3. Should I work with a solo real estate agent or a real estate team?
There are pros and cons to working with either a solo agent or someone who is part of a team. When you hire a solo agent, you have the benefit of a one-on-one relationship. However, with that closeness also comes a limited schedule. Your agent may not be as available to you or as responsive as you'd like.
When you hire an agent who is part of a team, your primary working relationship will also be one-on-one with a specific agent. However, you have the added benefit of a team of resources at your fingertips. An agent who has a team behind them means they have more brain power available to market and sell your home. Plus, team members will have a larger combined social media presence and network of active clientele, so your house will be promoted to a wider audience.
One of the best aspects of working with an agent who is part of a team is coverage. If your agent happens to be out of town or working with another client when you have an urgent question or need that arises, chances are that another member of the team can be there to assist you.
4. What qualities should I look for in an agent?
Make sure your real estate agent understands the details and nuances around what you’re looking for in a home. The listings they bring to you should reflect your priorities. If you’re looking for mid-century ranch homes, and they keep sending you Tudors, there may be something off with your communication.
Another essential quality is that they know and understand all aspects of the local market. You want to work with someone who understands the neighborhoods you want to live in, the types of homes that are available in that area, and how competitive buying or selling one might be.
When it comes to communication, it’s important to set expectations upfront. Find out how the agent handles communication with their clients prior to working together, especially when things get busy or an urgent need arises. Agents should be able to tell you how often they will communicate with you and their preferred methods of communication. If you have a preferred method, or are only available at certain times of the day, make sure to communicate that on your end, as well.
Outside of making sure your agent has the skills and expertise you deem important, and has the kind of time for you that you see necessary, finding the right fit has a lot to do with personality. When you click with someone, you just know it when you feel it.
A good relationship with an agent is made even better when you’re working with someone who’s enthusiastic about what they’re doing. If your agent doesn’t have a passion for selling your property or putting you in the right home, it’s hard to know whether they have your best interests at heart. Find someone who puts their clients first and is genuinely thrilled about the opportunity to help you buy or sell a home.
5. Where can I find top real estate agents?
Agents advertise their services in a number of ways, but you might not notice where they are until you’ve started searching for someone to help you buy or sell a home yourself. You should be able to find prospective agents browsing sites you normally visit, driving streets as part of your average commute, or finding recommendations from the people closest to you. Here are a few good ways to encounter agents you might want to work with.
Open Houses
If you see a house or two that you’d like to tour, but you don’t yet have an agent, a great way to find one is to visit open houses. Chances are, if the agent is representing a house you already like, they may have ideas for other, similar houses that may interest you as well.
Social Media
You could find a real estate agent on social media by searching for posts with specific hashtags (like #indyrealestate, or #indianapolishomesforsale). Alternately, you might see some ads for real estate agents pop up after you search for online home listings.
Online Marketing
With more and more of the home buying and selling process happening online, it’s important that real estate agents have an online presence. You might find real estate agents online simply by searching “Indianapolis realtor” on Google, discovering helpful content online, or browsing online listings on a home search site.
Yard Signs
Similar to an open house, if you drive past a property that looks good to you, take note of who’s listing it and give them a call. Better yet, if you notice the same name on a few different homes that look appealing, it’s more likely that your tastes align.
Direct Mail
Real estate agents might use direct mail marketing to try and reach new clients. If they’re operating in a new area, it can serve to raise awareness about who they are and what services they provide. If you receive direct mail about a house sale, or someone who may seem like the right fit to sell your house, reach out to them!
Referrals from Friends & Family
You can’t beat word of mouth. If your friend or family member had a particularly good experience with their real estate agent, chances are, they’ll tell you about it. It’s always worth it to reach out to agents who come highly recommended by people you know and trust.
Questions to ask before you hire a real estate agent
Chances are you’ll have lots of questions to ask any potential real estate agent. To help keep things simple, I’ve put together a printable PDF of the top five must-ask questions for you to have on hand while considering agents.
To get your copy, fill out the form below and your PDF will begin downloading right away.
Additional questions to use when interviewing a real estate agent
Beyond the key questions outlined in the PDF, here are some other basic questions you might want to discuss with your future real estate agent before you start working together.
Local Market
How long have you been working in this area?
What neighborhoods are you the most knowledgeable about?
What do you love the most about the neighborhoods I’m interested in?
Can you share some local neighborhood stats like list-price-to-sales-price ratio?
Pro Tip: Agents have access to a lot of helpful market data, don’t be afraid to ask for it.
Experience
How long have you been in the business?
Pro Tip: Experience is key, but new agents can bring a lot to the table — particularly time. If a new agent has access to an experienced mentor and hunger to succeed, they’re worth an interview.
Are you a solo agent or part of a team?
What did you do prior to getting into real estate?
Pro Tip: You may be able to make connections between their past experience and how those talents can lead to more versatility and expertise
Are you a Realtor?
Are there other skills you have that lend themselves well to the work you do now?
Time Commitment
How much time do you dedicate to real estate?
Are you a part-time or full-time agent?
What’s your availability like?
How frequently will we be in touch?
How quickly can we schedule showings?
Pro Tip: In a competitive market, acting quickly is crucial when it comes to making an offer and going under contract.
Fees & Logistics
What are your fees? Are they up for negotiation?
What are average closing costs?
What does the process of working with you look like?
How are you planning on marketing my home?
Will I be able to review documents ahead of time?
Do you have a network of other real estate professionals, like lenders and inspection companies, you’ll be able to refer me to?
Personal Values
What sets you apart from the competition?
What brought you into the real estate business?
Do you have any reviews or testimonials I can reference?
Can I speak with a few of your former clients?
In conclusion, consider both expertise and personality fit when looking for a real estate agent
After reading this article, you should have a better sense of how to find a skilled and reliable real estate agent. It’s important to hire someone who has the knowledge and expertise you need, as well as a personality that you enjoy spending time with and feels easy to work with.
Whether you find them through an open house, social media, online listings, or word-of-mouth, the agent you choose should be someone you trust. Take the list of questions along when you meet with prospective agents, and you’ll be well-equipped to find your perfect fit.
