Finding a Real Estate Agent by Referral
My name is Darren Hildreth. Before I received my real estate license I was just like any other home buyer or seller. I watched my credit score to make it the best I could, I saved up some cash, and I put together my plan of how I was going to make a lot of money in real estate. I even studied up by reading several books on buying and selling real estate, cashing in on foreclosures, and flipping rehabilitated houses. I thought I had it down. I purchased a duplex, did a rehab project, began a construction project and formed a couple of partnerships so we could "get bigger faster". I made a little money but nothing grand. The one mistake I made was that I didn't find the right real estate agent and it cost me.
WARNING: If you are looking to buy or sell real estate there is key information you need to know to get the most of your home experience and gain the most equity possible.
The Real Estate Problem: How Do I Find a Great Real Estate Agent?
Most real estate markets are going to have great agents. However, a majority of the agents in an area don't understand how to service their clients nor negotiate in their best interest. An agent will cover his/her own tail and do what it takes to wrangle in a client to get the deal closed without understanding the goals and needs of their clients. As an agent I hear more horror stories than I do success stories. So, how do you find the right agent?
The best real estate agents will come referred and with a great deal of success. They will be client-centric. They will not necessarily be full of flare but they will be full of wisdom and industry experience. They will save you big in the end. They won't have to sacrifice their commissions because of the money they save you...in fact, a great real estate agent is worth every cent they get paid. Any real estate agent should know that for him/her to build a business they will eventually have to rely on referrals. You would think they would do what they had to in order to keep a great client happy and make them successful so they would have referred business down the road. It is amazing how many real estate agents are very transactional based. They want the money from the current deal.
Many real estate agents are just too green to be of great help. Some have been around too long and have become lazy or apathetic. Some have teams and will just hand you off to a rookie....
So, how do you find a great real estate agent that will work for you?
The Real Estate Solution: Great Real Estate Agents Come by Referral.
There are only so many ways to have a great real estate agent referred to you:
- Referral by Satisfied Client
If you are referred first hand by a satisfied client you may have found your match. There's a lot to be said of someone who has had success with a professional. Verify that your needs and situation are the same because some agents are better at certain things than others. If your situation is similar and you like the agent then use them.
- "Friend in the Business"
RED FLAGS!!! RED FLAGS!!! Be extremely cautions of a family member or close friend who solicits your business in real estate as a competent professional. If you think it might be hard to tell them NO just wait until they screw up your transaction and have you strung out all over the planet and have you money and time all tied up. Talk about serious strain on a relationship. I'm not saying not to use a competent real estate agent who is a friend or family but I am saying that you don't use a friend or family member who is a real estate agent...there is a difference. There are a lot of licensees who don't have a clue and do one or two transactions a year or every couple of years. Don't feel obligated. Just tell them you don't want to damage the relationship if things go south. You want to have an "arms length relationship" with your agent...if they don't know what
you mean then you will be glad you didn't use them.
- Referral by Professional
Your best option is to find someone with a great network who is competent. Find someone who is in the industry and knows what great service is all about. They will be successful themselves. Have them refer you to another agent if they don't service the area your are going to or coming from. Agents get referral fees for passing along a qualified client. Upon the closing of the transaction a percentage is paid to the referring agent. Besides their fiduciary responsibility to treat you well they actually have a monetary reason to take care of you. They have an interest to make sure the next guy/gal does their job.
Darren Hildreth, Realtor: Your Referring Agent
Darren Hildreth works currently works in the Las Vegas, NV Real Estate Market. He grew up in Montana and understands the farm/ranch scenario. His father and grandfather developed land and build several subdivisions so he understands small town residential and development, He bought and sold real estate in Utah from multi-unit buildings to rehab projects to standard single family residences. He has really enjoyed the big city market of Las Vegas. Darren is competent in finding what your needs are and then finding a real estate agent who will help you. He is interested in getting to know you and your situation and then referring a great real estate agent to you. Regardless of the city or state he should be able to find an agent with the nationwide networks he has access to. He will put you in contact with the agent and teach you what to say to interview the agent yourself. If you
are happy with them then you are off and running. If not, he will help you find another agent. Darren has a three-fold interest in your success: he feels responsible to take care of clients because of the experiences he had, he wants your referrals as people your know move into his market, and he wants the referral split from the agent who services you. He will make sure you are taken care of by a professional, qualified real estate agent.
Darren Hildreth's Agent Guidelines
Darren Hildreth won't send you to just any agent. He will personally be in contact with them and make sure they would treat you like he would.
- He'll make sure that any fees they charge are fair for the market and not gouging
- He will ask about their processes to make sure the ball isn't dropped
- He'll find out about their company support
- He'll find out about their communication commitments
- He'll make sure their team (i.e. title company, lenders, escrow officers, etc.) are qualified
- He will learn about their previous successes
Whatever You Do, Don't Go It Alone
You may find it interesting that the most experienced real estate investors will usually use a real estate agent for their deals. Why would they do that? They have other business to tend to and they don't want the liability of the transaction. They hire a great agent to do the work for them because they do it professionally. A lot of work goes into a real estate transaction. A lot of emotion gets tied up too. Many great real estate agents will actually use another agent when they buy/sell their own property because it is difficult to separate themselves from the emotion of their own deal. They want someone who sees the facts objectively and can help to make a logical decision. There is also a ton of competition to sell a house. Houses are products for sale. Sure, it is YOUR home and is special but from the buyer's perspective it is just a product and they plan to make changes. Since there are so many products which translates to a lot of
competition you want to have it marketed professionally. A sign in the yard doesn't usually cut it. Hire a great real estate agent and make sure they take care of you. The agent you hire should come referred. Have Darren Hildreth help you find an agent and refer him/her on to you. Your odds of a successful transaction increase a great deal.
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