How to Pick a Realtor

If you're buying or selling a home, you can choose to go it alone or pick a realtor to represent you. A good realtor knows the market, the legal issues, the area, tax ramification and can negotiate to get you the best deal. Here's how to pick a realtor.

Instructions

1. Know the difference between a licensed real estate sales associate and a realtor. Realtors have special memberships with their national, state, and local boards of realtors and the name "realtor" can only be used by members who agree to be bound to a code of ethics and standards. Realtors also have access to the local multiple listing service for their area, an important tool for buying and selling real estate.

2. Ask around. Word of mouth may be the very best way to pick a realtor. Talk to everybody you know about the realtor they used and if they would use that realtor again.

3. Make sure that the realtor you choose is a good fit for your needs. Every realtor is different, and you want to find somebody who meshes with your ideas about the home buying and selling process, and whose customer service matched the level of involvement you're looking for.

4. Prepare yourself for the first meeting with the potential realtor. They will propose a marketing plan if you're selling, and they will also present a listing agreement for you to sign if you're going with them. Ask them lots of questions and make sure that commission is discussed up front. Don't sign after the first meeting. Schedule a second meeting to follow up a week later at your convenience.

5. Interview at least three different realtors before you make a decision, even if the first realtor seems like the best fit. It's always wise to shop around before you make a commitment.

6. Ask to see their sales records for the past year for each candidate. How many homes did they help their clients to buy and sell? How many days did the average home spend on the market? Do they sell in your area or all over? What special awards have they earned?

7. Don't settle for less. Even if you sign with a realtor, their job isn't finished until they have helped you to buy or sell your home. If at any point in the process you decide that they aren't working well, or working enough for you, tell them you're going to find somebody else and why you no longer want to list or buy with that realtor. It's your right to be represented by a realtor with your best interest in mind, contract or not.

Resources

• Tips and advice.
• National Association of Realtors website.