Finding a real estate agent who’s trustworthy and has your best interests at heart is critical.
Why?
Because a good real estate agent can be the difference between a successful sale and a long and frustrating process.
But how do you know if the agent you pick is “good?”
Is it based on the number of real estate transactions they’ve completed?
Or how many glowing reviews they have?
I have a somewhat controversial opinion after being in the real estate industry for almost 20 years.
These “common criteria” aren’t what qualifies an agent as being “good.”
They certainly help, but there are additional things good real estate agents possess that get overlooked.
Things that will make you feel confident you have the right agent to guide you on your real estate journey.
Ready to snag such a professional?
Here’s everything you need to know about how to find a good real estate agent.
What to know before finding a real estate agent
Understanding the basics about real estate agents can help you make a smarter decision.
Here are some of the important things to know before you start your search.
Real estate agent vs. realtor
The terms “real estate agent” and “realtor” might seem interchangeable.
But there’s a slight difference.
Real estate agents are professionals licensed to operate in their state.
Realtors take it up a notch.
Besides being licensed, they’re also accredited by the National Association of Realtors (NAR).
Being a member of this group requires adhering to a strict code of ethics and additional annual fees.
There are more than 3 million real estate agents in the United States.
Nearly half are realtors.
Understanding the distinction between the two can help you select the right agent.
How real estate agents get paid
Agents’ earnings are tied to a real estate commission structure.
This is generally 5 to 6% of the home’s sale price and is usually split between the buyer’s agent and the seller’s agent.
Homebuyers almost never pay any of the real estate agent commission.
Typically, the seller pays this cost at closing.
But the commission rate isn’t set in stone.
It’s negotiable and can vary based on where the property is located, the agent’s experience, and the services offered.
The role of a real estate agent
An agent’s role is more important than you might think.
They’re your advisor, negotiator, and advocate — all rolled into one.
That means keeping you plugged into your local real estate market, guiding you through the home buying or selling process, and recommending other real estate professionals — like mortgage lenders and attorneys — as needed.
Here’s what real estate agents do to earn their commission:
- A buyer’s agent helps buyers find and purchase homes. Their job is to evaluate properties, submit offers, and safeguard the buyer’s interests. You may also hear buyer’s agents referred to as selling agents.
- A listing agent helps sellers list and sell properties. Their job is to guide the seller on the ideal list price, market and stage them, and negotiate to get the seller the best deal. Listing agents are often also called seller’s agents.
Real estate agents can represent both buyers and sellers.
But many agents specialize in working with one or the other.
This fosters deeper knowledge and experience that can enhance the agent’s offerings.
Understanding the nuances of their roles can help you choose the right real estate agent.
Things that make a good real estate agent
Skillful, reputable, and trustworthiness are a few qualities of a good real estate agent.
This is the type of agent you should seek because they can optimize your real estate experience.
But there are other critical things you should consider in a real estate agent.
Low dual agency rate
A low dual agency rate should be your No. 1 requirement when vetting a real estate agent.
Why?
Because it’s a tell-tale sign of an agent’s integrity.
A dual agent represents both the buyer and seller in the same real estate transaction.
And for doing so, they earn two commissions from one home sale.
But how can a listing agent who’s also representing the buyer prioritize the needs of both parties?
They technically can’t.
That’s why the good real estate agents have a lower-than-average percentage of these sales compared to other agents in your area.
So pay attention to this statistic.
Because it’s a strong indicator of whether the real estate agent you pick has integrity (which is why we analyze this agent statistic before matching a homeowner with a local agent).
No contract commitment
Signing an agreement is often a prerequisite when selecting a real estate agent.
For sellers, any prospective agent will require you to sign a listing agreement.
For buyers, some agents won’t enforce a buyer broker agreement and will work on a handshake instead.
You’ll be tied into an exclusive relationship with the agent you pick once you sign an agreement.
But you should find a real estate agent who won’t lock you into a contract.
Here’s why…
The contract you sign with your agent essentially “guarantees” their commission because you’re tied to them for a certain period of time.
This can entice an agent to shift their focus toward securing their next client rather than serving you.
But a real estate agent who will let you cancel at any time — without owing any commission?
They’re much more likely to work harder, stay motivated, and prioritize your sale.
Buying or selling experience in your area
Finding a real estate agent with experience in your area is non-negotiable.
But there’s a catch…
Local expertise doesn’t mean an agent is “good.”
It does mean that they have a grasp of your local market trends.
And they understand the neighborhood’s quirks.
The features that make the area desirable and the ones that don’t.
But this knowledge should be a baseline for any real estate agent you pick.
The agent you find should have some experience in your area, but they don’t need to have the most sales.
Stellar feedback from clients
Raving feedback is a key element of choosing a good real estate agent.
It’s one of the things that will help you determine who’s a good real estate agent.
Analyzing online reviews can help with this because they’re a gold mine of firsthand experiences.
- If you’re buying: Focus on reviews from fellow buyers. Look for consistent themes, such as negotiation skills or a knack for spotting potential in homes.
- If you’re selling: Prioritize reviews from sellers and note any common threads, like successful marketing strategies or an extensive network.
Look for both positive and negative themes.
And look for common phrases such as “communication,” “responsive,” and “best interest.”
Agents support buyers and sellers in different ways.
So sift through reviews judiciously to find the right real estate agent who can meet your needs.
Best ways to find a real estate agent
Shopping around for the perfect real estate agent can feel like navigating a maze.
That’s why it’s helpful to know where and how to look.
Understanding the pros and cons of each method can shape your search.
Here are the best ways to find a real estate agent.
Attend open houses
Open houses are a golden opportunity to scout your area for agents.
Pros:
- You can observe the agent’s professionalism and local knowledge first hand.
- You can meet multiple agents in a short period of time.
Cons:
- A casual environment could lead to making a hasty decision based on a skewed first impression.
- If the property being showcased doesn’t align with your needs, it can potentially give you a lopsided view of the agent’s portfolio.
Ask friends and family for a referral
Many buyers and sellers discover a real estate agent through referrals.
Pros:
- You have a trusted opinion and firsthand account of the agent’s work ethic.
- You can have a more natural introduction with the agent.
Cons:
- An endorsement doesn’t guarantee that the agent will be the best fit for you.
- Friends or family might shy away from providing a complete, unbiased picture if their experience wasn’t entirely positive.
Use an agent-matching service
Getting matched with agents through an online platform is a newer approach to finding an agent.
Pros:
- It streamlines the process and saves you time that might otherwise be spent searching and/or in meetings with agents.
- It allows you to compare and contrast real estate agents based on various criteria, like years of experience, number of sales, and online reviews.
Cons:
- Some platforms may have undisclosed alliances and favor certain agents.
- Algorithms, no matter how advanced, may not fully grasp the nuances a face-to-face conversation with a seasoned agent might uncover.
An online service that matches buyers and sellers with real estate agents can be a reliable starting point.
But it’s important to understand how the company qualifies the agents they recommend.
For example…
Some services allow any agent to join their network — as long as they pay.
Others only recommend agents with the most sales.
At SoldNest, our technology analyzes agent feedback across all review platforms and factors in aspects like an agent’s dual agency history.
These extra measures are part of our unique vetting process that helps homeowners find a good agent.
Your goal is to find an experienced real estate agent who you can trust to guide you through the entire process.
So do your research and thoroughly vet any agents you’re considering.
Interviewing real estate agents
Interviewing real estate agents should be a crucial part of your quest.
Why?
Because it helps gauge an agent’s expertise and their fit with your objectives.
And a good fit can mean a smoother, more successful real estate transaction.
Pick at least two agents to interview.
Three is even better.
The key?
Being prepared with the right questions.
They’ll assist in helping you find the right real estate agent.
What to ask a prospective real estate agent
Here are the top things to inquire about when seeking a good agent.
How many clients have you helped buy or sell?
Knowing the total number of real estate transactions an agent has can help gauge the depth of their experience. More clients generally means they’re a well-rounded agent. They’ve seen more, learned more, and can potentially offer more in terms of insights.
How many dual agency sales do you have?
This will help you find a real estate agent with integrity. Remember: Seeking agents who have a lower percentage of dual agency sales compared to other local agents is a must.
Have you helped clients buy or sell in my area?
This is like securing a home-field advantage. An agent with local know-how can provide insights others just can’t. This can help steer your home sale in your favor.
Will I be working with you or a team?
You need to know if the agent you’re considering will be your daily point of contact. Some successful agents operate within a team and may pass you on to a more junior associate once things get rolling. This isn’t always bad, but you should have clarity from the get-go.
How many clients are you working with right now?
This can be a litmus test for the agent’s availability and focus. Too few clients might signal a lack of trust in the market. Too many can mean that your needs get lost in the shuffle. You’re looking for that sweet spot where an agent is successful yet still hungry to give your deal the attention it deserves.
How will we communicate?
Clear lines of communication are vital. Whether it’s email, phone, or face-to-face meetings, knowing what to expect can prevent misunderstandings and set the stage for a successful partnership.
Do you have references I can contact?
An agent’s references give you a glimpse into the real experiences of former clients. But make sure the insights align with your needs as a buyer or seller. This gives you a better idea of what to expect.
The bottom line: Making the right choice when searching for an agent
Finding a real estate agent can be nerve-wracking.
But landing the right person can shape the success of your real estate journey.
Remember, a “good” agent transcends sales records or positive online reviews.
It’s about securing a real estate professional who’s trustworthy, reputable, and aligned with your best interests.
These are the types of agents we partner with at SoldNest.
Explore our screening process to learn more about how we match homeowners with the top agents in their area.
