The Basics Finding ‘a’ real estate agent isn’t that difficult. Many agents work extremely hard. There are thousands of them scaling the walls of Facebook, approaching the wealthy at golf course club houses, and putting their faces on signs. But how do you choose a great one for your transaction?
- Check the internet
- Ask for referrals
- Look for those specializing in your type of transaction
- Interview them
Seek out a Realtor who is respected and liked in the industry. Look for an agent with the right balance of hustle and experience. Make sure you know who you will actually be working with. Some big name agents have large teams. It is no good choosing one of these faces from a billboard if you’ll be relegated to working with the newbie in the office.
VIP TIP: Make sure you position yourself as a great client too. Have a well-defined list of wants and needs. Show that you are prepared, qualified, and are serious about taking action.
For Luxury Real Estate Buyers It is critical to find an agent who appreciates your taste in property. If you’ll be buying from a distance, or flying in for an inspection trip from NYC, LA, Hong Kong, or Monaco your agent must have carefully curated a shortlist to view. If they are floundering from the beginning it isn’t likely to get any better later.
For Luxury Real Estate Sellers Be prepared to go through presentation materials heralding all the ways your luxury home will be marketed. There are certainly agents and real estate brokerages which do more than others, and have higher quality marketing teams, tools, and materials than others. Make sure the materials address your specific neighborhood and include detailed comparables for your specific property. Even for the most spectacular homes on the planet it takes hard work, dedication, expertise, and connections to bring about a successful and expedient sale.
So if the agent’s network is what moves big listings, how do luxury home sellers ensure that the agent of their choice possesses the connections to find the right buyer?
Look for a strong history of sales in your price range and area as well as strong, long-standing involvement in the local community. Furthermore, you’ll want an agent with global reach so ask your agent about their partnerships with agents and companies in other markets.
Savvy homeowners also know that the sale is only one part of the agent’s job. Agents play a significant role in screening potential buyers, and keeping your personal belongings and information safe during the process. Does your agent have a system for that?
For Luxury Real Estate Renters Perhaps you are not ready to buy yet, or just need a luxury rental while on a special project for a year. Your time, privacy, and a low stress level may be just as important for you now as when buying a $10M pad of your own. Unfortunately not all high-end real estate agents want to work with rentals, or at least won’t provide an equal level of service and dedication to renters. Find one that will appreciate your business for what it is, and put in just as much effort.
For Luxury Real Estate Investors Many highly qualified individuals, fund managers, and even celebrities are increasingly embracing real estate as an investment. Some are engaging in very active real estate investment and upscale home flipping. However, not many Realtors are excited about working with real estate investors, especially in the luxury market. Others are simply not up to date on trends, tools, and strategies investors are using today. Specifically look for an investor friendly agent who is happy to facilitate the types of transactions you are seeking, and can even bring extra value to the table as an advisor.