Back when the real estate market could barely be scooped out of the gutter, real estate agents were leaving the profession in droves — particularly the inexperienced ones and part-timers who could no longer make a living at it. (Some of that may have amounted to a necessary housecleaning.)
Now, with the market picking up and insanely high home prices reported in some parts of the U.S., becoming a real estate agent is starting to look awfully tempting again. In fact, the National Association of Realtors reports that 42,000 agents joined up in 2013, its first membership increase in seven years. (That’s 840 new agents per state, if they spread out evenly! If all of them had beoame football players instead, there’d be enough to field 15 new teams per state, assuming a 53-person roster.)
This influx of newbies makes it critical that anyone choosing an agent to help buy or sell a home do some serious homework and make sure to get someone experienced and reputable, not someone who got tired of trying to scrape out a living as an aromatherapy consultant.
An agent isn’t just someone who drives you to houses, or stands around during your open house. The most important role an agent can play today is making sure that, in this high-priced transaction, you don’t pay more than you have to (if buying) or accept less than you have to (if selling).
The basic steps to finding a good agent are to:
- Get referrals from friends and colleagues.
- Interview at least three agents.
- Check references. (You wouldn’t believe how many people fail to do this.)