Log In


Reset Password
Columnists View from the Center Bear Smart The Travel Troubleshooter Dear Abby Student Aide Of Sound Mind Others Say Powerful solutions You are What You Eat Out Standing in the Fields What's up in Durango Skies Watch Yore Topknot Local First RE-4 Education Update MECC Cares for kids

Choosing the right broker is important

The choice of the right real estate broker is the most critical part of the home buying or selling process. Unfortunately, most buyers and a majority of sellers end up working with the first real-estate broker they meet, which usually results in less-than-optimum results and a more cumbersome and stressful process.

There is a significant difference in the competency level between the best, average and weak practitioners. Interviewing three or more brokers before you commit is the best way to ensure that you get the best service and the most advantageous financial outcome.

It is very easy to become licensed as a real estate broker. There are no educational or experience requirements; A practitioner does not even need a high school diploma. The only requirement is that the applicant takes a few hours of education courses and passes the exam.

Recently, there has been a large influx of new agents because the real estate market has started to recover. Most of the large firms and real estate associations are mainly focused on increasing the broker population because of the additional fees and dues that are generated.

In the real estate business, as in other commissioned professions, about 20 percent of the practitioners do 80 percent of the business. There is not a direct correlation between the amount of business an agent does and his/her competency; however, the majority of the 80 percent are not high-level practitioners.

If you decide to work with the first agent you meet, the probability that you will be getting the highest level of service, best representation and the most advantageous outcome is low.

There are other factors that you should consider when deciding on the right real estate broker. It’s important that the “chemistry” between you and the prospective broker is good. Additionally, whether the majority of their business practice coincides with your price range, the type of property you’re looking for and whether you’re a buyer or seller.

I strongly recommend that you request the contact information from the most recent clients who bought or sold a similar home that you will be buying or selling. Talking to them will help you determine what to expect if you decide to work with that broker.

The bottom line is that spending a little more time at the beginning of the home buying or selling process can make the process much more enjoyable and less stressful. Additionally, the time spent usually results in thousands of dollars in higher proceeds if you are a seller or in a reduction of the asking price if you are a buyer.

Steve Setka is an exclusive buyer’s agent with Keller Williams Realty in Durango and a licensed mortgage originator. He can be reached at 903-7782 or steve@durangore.net.



Reader Comments