All things real estate: Interviewing your broker to sell your home, condo, town home, coop or commercial property Part1

So now you have decided to finally consider selling your property and now you have to decide how to approach this most arduous, complicated and nerve-racking process.

Do you do this on your own (For Sale by Owner/FSBO) or hire a knowledgeable professional who has years of experience in all facets of the residential and commercial real estate business.

So how do you start, you say to yourself? Then you ask yourself, should I hire someone I know, a good friend or someone my friend knows and recommends? That’s a possible route, but now step back and think about it.

Recommendations can be an excellent source to pursue. However, the overall knowledge of that individual should come into play and who best to know and have had experience with that most important ingredient, but one who has had direct contact in the past in working with that broker on a sale or purchase of a property.

I am surely not saying that friends and associates won’t necessarily have your back and recommend someone that is not a true professional, but my motto is, “you’re only as good as your last deal.”

The exception to that is the testimonials and reviews that an expert real estate broker receives from past sellers, purchasers, investors, renters and lessees of residential and commercial properties who have had the firsthand experience on a one on one basis, in dealing with that broker before, during and after the sale!
From my own research and experience, testimonials and reviews over the short and long run are the lifeblood of a professional, regardless of the industry that they are employed or in business within. They become some of your most crucial advocates in the course of one’s career, whether real estate or any other profession or job.

Of course, your friends, family members, and business associates can be a source of recommendations for whom to use, who knows that person for his or her scope of knowledge, character, honesty, qualifications, disposition, attitude and other important qualities.

But sometimes relying on friends and business associates for recommendations can turn into a disaster as I have been told; hearing many stories from clients, purchasers, even in conversations from strangers in how difficult and stressful it was. I am quite sure that you would rather keep your friendships and close relationships than lose them, especially when your sale or purchase is probably the most expensive commodity that one purchases in their lifetime.

Making sure that the person you hire or are working with, guides you through the process from beginning to the closing table, by showing, advising and consulting you through their concerted efforts, disciplined actions and the sacrifice of their valuable time! This process takes some serious knowledge, expertise and time tested trial and error to perfect and mold one’s way to do business and handle their clientele.

Many who try to travel this path don’t always receive the proper training and guidance from whoever is educating them whether it is their broker or outside groups or individual mentors. Many don’t prove they’re worthy or gain the proper information due to lack of business experience, not sure of the correct way to go, confusion as to what to learn, laziness, wrong attitude, dedication and most crucial, their motivation and passion to be in the real estate business.

For these reasons I believe, this is a major contributing factor in the dropout rate of agents being excessively high and would be lower if those factors were addressed, minimized and a solution was found.

More important, there are those who have this agenda to pick the shortest path to get their commission check without really knowing what to do from start to finish in having the necessary tools and expert knowledge to provide what that seller, investor, buyer and even renter and lessee are so desperately looking for to enable their search to the eventual sale or purchase to have a positive outcome.

I have seen many within our industry trying to sell real estate instead of consulting their clientele. Advocates and those that you have done business with who verbally expound the virtues of how good you were are very important and a great way to gain future referrals. But having something in writing as a testimonial and review of services rendered is one of the most powerful tools to be able to utilize as proof of how the quality of your services was to them during the process.

So the reaction and rating from clients, purchasers or renters and their true feelings and experience about the agent’s performance and the services provided, if exemplary and top-notch, would go a long way if put into a review or testimonial. (Part 2 next week)

Philip A. Raices is the owner/Broker of Turn Key Real Estate at 3 Grace Ave. Suite 180 in Great Neck. He has earned designations as a Graduate of the Realtor Institute and also as a Certified International Property Specialist. He can be reached by cell: (516)
647-4289 or by email: [email protected] to answer any of your questions or concern.

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Philip A Raices

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