If you’re just beginning the process of buying or listing your home, it can be confusing. You talk to a lot of different agents, and hear a lot of different pitches. One agent throws out the number of sales they closed in a quarter. Another gives you references with glowing reviews. How do you know where to begin?
One way to start the process is to understand that there are basically three different approaches to real estate sales. All three work, but the question is: Which is the best model for you?
Goal-Oriented: Like in any other sales position, this type of agent is motivated by the number of sales they close. They tend to do high volume. They know just how many calls to make or how many appointments they need in one week to convert one client to a listing or sale. When working with a buyer, they often have a set number of houses they plan to show them before they “close” and execute a contract. These agents are likely to focus on their bottom line numbers.
Team-Oriented: In some real estate teams, there is a lead agent, one assistant and maybe 1 to 2 other licensed sales agents. Other teams can have up to 8+ other agents who will work on a number of deals at any one time. That means that if the lead agent indicates that they had 100 transactions, it’s possible that they personally handled 50 deals and the supporting agents handled the other 50 and logged the transaction in the name of the lead agent.
Relationship-Oriented: This type of agent is more hands-on and focuses more on the individual and their needs. They will show as many houses as necessary, instead of trying to stick to a pre-prescribed timetable. They get to know the family and negotiate for their individual needs. They are also less likely to delegate the tasks in a transaction to others such as inspections meeting the appraiser etc. because they know the case so well that they can best diffuse potential problems in the transaction while they are happening.
Goal-oriented and team-oriented scenarios can work very well for investment property buyers and sellers, fix-and-flip clients, or those who are very experienced in real estate dealings. Relationship-oriented agents are generally better for families, first-time buyers and sellers, seniors, or others who are looking for a personal touch as they take on the biggest and most complicated purchase or sale of their lives.
So, how do you know what type of agent you are dealing with?
Listen to what they say during your interview? Do they talk mostly about their numbers, or their relationships? Do they talk about their team and who they are, or do they ask you about your needs, and talk about what they can do for you by building a customized plan of action?
Never be forced into signing an agreement on the spot. Take time to sleep on it and trust your gut.
