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If you are ready to sell your house or buy one then you will need to know how to find a good real estate agent in El Paso.
With an abundance of people to choose from in the real estate field, it can be daunting task to pick just one to help you navigate the selling or purchase of a home.
But worry not because, in this blog post, we will highlight the main things you should take into consideration when seeking a real estate agent.
We will go through what we think is a good process to find a good real estate agent in El Paso. This process will cover steps like how to get a pool of prospects and to how to evaluate them.
Also, before getting started, know that there is a difference between a listing agent and a selling agent.
A selling agent is the agent representing someone that is looking to buy a house, whereas a listing agent is somebody that represents the person who is selling their house.
Sometimes one agent can take on both roles, but here in Texas it is actually illegal to do such a thing.
Something you can do from the get-go, that can help you save time when it comes to helping you find a good real estate agent in El Paso, is to ask for referrals.
A tried-and-true method is by word of mouth.
The best referrals are almost always given by people you know and trust, namely a family member or friend. When you begin looking for a real estate agent, ask them if they know any good agents.
Ideally, the agents that they recommend you, should be somebody that they have worked with or at least somebody whose competency they can attest to. This way you can be sure they are not simply trying to do the agent a favor by recommending them.
In addition, you can get help from a real estate agent.
Yeah you read that right, you can use a real estate agent to find another real estate agent.
In the real estate business, there exists what is known as a “real estate referral agent”. In simple words, a referral agent is an agent that earns money by referring people to other agents.
These agents make money once their referrals actually buy or sell a house. This is very much like a real estate wholesaler, except these people are agents.
This method might seem counter-intuitive, but it is a clever way of finding a good real estate agent. Reason being, is that the referral agent has to refer you to somebody competent and that you feel comfortable working with; otherwise, there will not be a transaction made, and they will not earn a commission.
Read more on real estate referral agents by clicking here.
Another way to find a good real estate agent in El Paso is to read reviews and testimonials of people who have worked with that agent.
You can find reviews on real estate websites such as Zillow.
Read through the reviews to try and get an idea of the strengths and weaknesses of the agent you are considering hiring.
Aside from the reviews, there is also info on the agent’s team (if they have one), where they are located, phone numbers, website, and among other info.
A word of caution: take internet testimonials and reviews with a grain of salt. This is especially true for non-reputable websites.
The internet is filled with fake reviews of products and services. According to BrightLocal, upwards of seventy percent of consumers read a fake review.
A lot of the research on the topic is focused on retail industry, especially online retail platforms like Amazon; but do not think this cannot be a problem in the real estate industry.
The reality is that agents in the real estate field need to build a solid reputation. Without a solid reputation, agents will find it difficult to convince people that he/she is the right person for the job.
Inevitably, as it happens in virtually every industry, there will be some who try and cut corners to gain an advantage.
With all this said, it is critical to learn how to spot fake reviews. This can help you discern between the honest agents and dishonest agents, who in the end will only end up providing you with a terrible service.
MarketWatch has a great article that covers the topic of spotting fake reviews.
Wary that you might have encountered some impostors?
There is a simple way to ensure that the real estate agents that you are considering hiring are not phonies; and that is to check their license.
The most important credential any agent in the real estate field can have is the license that legally permits them to practice real estate, so it follows that you want to work with somebody who is licensed.
How exactly can you do this?
In Texas, you can use the Texas Real Estate Commission’s website to check the validity/standing of a Texas agent’s license. In there you will need to input info such as: the agent’s name, their license number, or city and county where they operate.
With this search, you can see what broker sponsors the agent, where that sponsoring broker is located, and a myriad of other information that can confirm the person’s standing as a licensed agent.
Also, be aware that not every real estate agent is a Realtor®.
A Realtor® is a real estate agent that is part of the National Association of Realtors.
If for some reason you want to work with a Realtor® and not simply someone who is a real estate agent, then be sure to visit the Texas Realtors website to check if they are a member.
You can (and should) treat the act of hiring a real estate agent as if you were hiring an employee for your company.
When buying a house, not only are you choosing a place where you and your family will live, you are also making a massive financial commitment.
These are the reasons why choosing a qualified and competent real estate agent is imperative. You need somebody who can help you find a great house and actually earn that commission you will be paying them.
This is where interviewing them comes in.
These are several questions you can ask the agent (in no particular order) once you sit down with him/her:
How long have they been doing this for? Typically (but not always), somebody with more experience has more knowledge and proficiency in their trade.
Have they sold houses in the same general area as your neighborhood? If so then how many? This can let you know how experienced they are in selling houses similar to yours.
How much time in the market have houses that he/she sold in or around your neighborhood spent? Generally, the less amount of time a house spends on the market the better.
The average sale-to-list price ratio on homes they’ve sold. This compares price at which the home was listed (denominator) and at what price the house was actually sold for (numerator). It can serve as an indicator of how well the agent knows how to price a house.
Have him/her layout a strategy that works towards helping you achieve your goals.
Do you need the house sold by a certain time?
Is there an absolute minimum you want to earn from selling your house?
What is the maximum you are willing to pay for a house?
Ask about their marketing strategy. Will they market on the internet? Seems like an unnecessary question, but you might encounter some old-school agents who do not use the internet for marketing.
Just like talking salary and benefits in a job interview, you can try and negotiate the agent’s commission.
This should be based on the last two points we talked about, experience and the strategy they laid out for you to sell or buy a house.
Typically, if you find an agent that has extensive experience and a good track record, then they might not be willing to negotiate the commission. They more than likely have enough prospective clients that are willing to pay the commission he/she is asking for.
Two good rules-of-thumb to follow are:
Here’s a few more questions you can ask:
Read more on interviewing real estate agents in the following links:
10 Questions to Ask a Real Estate Agent by Realtor.com
How to Interview a Prospective Agent to Sell Your Home by NOLO.
Questions to Ask Real Estate Agents by Zillow
In conclusion, to find a good real estate agent in El Paso you will need to do your homework.
Reach out to your network and scour the internet to find prospects.
Once you have a pool of prospects, check out their reviews, see what people say about them, what their strengths and weaknesses are.
However, watch out for fake reviews. Not everything that is posted on the internet is immediately true. Be sure to learn how to identify these fake reviews and testimonies.
Also important to check their real estate license. Verify it is valid and in good standing.
Finally, interview them. Get to know their approach, how they are going to help you buy a house or sell the one you own.
If you are still in doubt as to what to do then you should know that, we at EP Real Solutions LLC are not only cash home buyers in El Paso, but we are also real estate agents.
While our main goal is to help people with a quick and hassle-free all-cash sale, we will help you if you are looking for a good real estate agent in El Paso.
Call us today at (915) 228-3035 and let us help you find a good way to sell your house or buy the house of your dreams.