Finding the real estate associate right for you
By Lynn Kaiser Conrad ’83

oving ranks as one of life’s most stressful events, and the experience can be compounded if you are dissatisfied with your realtor. Ellie Aardal Musgrave ’62 and Ed Musgrave, ten-year veteran real estate practitioners, have had many experiences with second-time shoppers—people disillusioned with their first real estate agent. One Orlando, Fla. couple had listed their home with a salesperson who rarely called to keep them informed. They became leery of real estate people but needed to find a new agent. This time they asked friends for references and interviewed several agents. That was how they met Ellie and Ed.

When the couple hired the Musgraves, they were still skeptical. But Ellie and Ed worked hard, even negotiating on Christmas Eve, and finally sold the couple’s house in 46 days. The couple was so elated they told their neighbors and friends about the dedication Ellie and Ed had exhibited in selling their property.

How do you find agents like Ellie and Ed? Nearly 5 million single-family houses, condominiums, townhouses and cooperatives were sold in 1998—the most ever recorded by the National Association of Realtors. Over two million real estate licensees in the United States are vying for that business. Selecting the one who will do the best job for you involves thinking like an employer and looking for professionalism, production and good references.

Interview
Whether you are buying or selling a piece of real estate, you are the employer seeking to hire a professional to successfully accomplish the task. An employer uses a variety of sources to find the correct employee, and applies the same standards when interviewing each candidate. If you adopt this frame of mind initially, you will find it much easier to find the real estate licensee that best matches your philosophy and your goals.

You should conduct a formal interview to determine if a salesperson is the right one. Many buyers casually travel from open house to open house and from agent to agent. But serious shoppers should work with one person who really understands their needs and has a special interest in helping them.

It is not necessary to interview multiple sales associates for the job. If during the interview, a recommended individual gives answers that make sense and you believe this is the right person to help you achieve your goal, make the decision right then to move forward. But if you believe the agent cannot do the best job for you, walk away early. There is nothing worse than depending on someone you hired who will not communicate with you or behaves in a manner inconsistent with the requirements of your job description.

Professionalism
One of the first things to look for when choosing the right real estate person is the Realtor trade name. This group of licensees subscribes to a higher standard of professionalism by abiding by a Code of Ethics. The National Association of Realtors is the largest trade organization in the United States with over 750,000 members. All real estate licensees are responsible for complying with the laws that govern real estate but the Realtor institution offers another arena for disciplinary action to take place for not adhering to the code.

Is more experience better? Don’t allow the length of someone’s tenure in the industry be the determining factor. Twenty-five year veterans who conduct business the same as when they started could be inadvertently practicing illegally due to revised and changed real estate laws. A neophyte may be a superb choice because of his or her drive, energy and desire to help. When interviewing potential employees, ask what type of continuing education they completed recently. Also, try to gauge their energy level.Production
Another key area to examine is production. Production should be compared to years in the business. A person in his or her first year who has already listed and sold eight or nine properties is very dynamic. Yet the seasoned associate with years of experience who only averages the same number of sales is mediocre.

Ask new associates what type of support they will receive from their broker or manager during the marketing process. If you are interviewing experienced associates, ask more directed questions, such as their average list price to actual sale price (90 percent or better is acceptable). Also ask their average days on market as compared with the multiple listing service in the area, if one exists. Ask what percentage of their listings actually sell and where the bulk of their selling and buying customers come from. If sales associates cannot answer these questions about their business, they are not focused. These same questions should be asked of the real estate companies they represent.

Not all real estate practitioners handle the same kind of product. Compare sales price and market area. It is important to hire a salesperson who works for a firm that handles the entire market: a spread from low-end to high-end. Some niche companies do well in their narrow markets; just be sure the marketing of your property would best be represented in a narrow field. The same applies to buying. If you know specifically what you are going to buy and a specialist is available in your market, interview that person; however, if you deviate from that specialty property, your specialist may be ill-equipped to accurately guide you through the rest of the marketplace maze.

References
Personal references are important. Companies don’t hire people without checking previous employment situations. You shouldn’t either. Ask the associate for names and phone numbers. Validation is a great way to confirm your decision, but in addition to asking if the customer liked the sales associate, ask the tough questions. Did the salesperson do what he or she promised, when promised? How well did he or she market your property? How often and how well did she or he communicate? Was the contract clearly explained and all of the consequences? Finally, would you hire that associate again without reservation?

It may seem like a lot of initial leg work but, keeping Ellie and Ed’s customer in mind, if you thoroughly research the first time you won’t become a second-time shopper. Once you establish a strong business relationship and the realtor delivers what he or she promised, you will become a satisfied employer and a fan.

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Lynn Kaiser Conrad has been in real estate since 1985. She holds the CRB, CRS and GRI Realtor designations. She is a licensed broker and instructor for the state of Florida. She writes regularly for industry journals and is vice president of residential real estate for Hayward Brown, Inc. in Daytona Beach, Fla. She can be reached at 904-677-1442.