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Almost 40 years into my life, my wife and I made a decision to leave the world of “rent” and move to the world of “own.” No doubt this would be a smart move, and there is nothing better than feeling smart about major life changes. But soon after we got over that initial excitement and bliss, we were quickly overwhelmed with questions and information about housing that we had no idea about. Questions about money, contracts, offers, escrow, taxes, paperwork, fees and all kinds of other things that I don’t even remember.
Despite being fiercely independent, I quickly came to the realization that I needed a broker. Imagine my delight when I found out that, as a buyer, you don’t pay anything extra to work with a broker.
We worked with the first broker that we found and we lucked out. In fact, I had such a good experience that I became a broker myself. But now, after meeting and working with dozens of other agents, I realized is that all brokers are not created equal.
Chances are you will find a good one, but if you don’t, there is no obligation to stick with them.
As you search, make sure your broker has all five of these characteristics below:
1. Listens — A broker knows that everyone is an individual
Each buyer comes with a unique story that needs to be learned before houses should be talked about. A good broker will listen first and talk second. He/She will look you in the eye, ask questions and understand your whole situation before speaking too much. If you tell a broker that you have kids and dogs and he/she shows you a house on a busy street with no fences, he probably wasn’t listening too closely. If you tell a broker that you are pre-approved for $240,000 and she shows you $300,000 homes, she probably wasn’t listening attentively.
A great broker will listen, empathize and understand your situation.
2. Honest — can you trust their word?
Do you roll up to a place that is way smaller than you wanted and your Realtor calls it “cozy” or “charming.” Is a scratched up wooden floor “rustic” or “shabby chic?” Is a crapped out front yard called “low maintenance landscaping?”
Remember you want someone that is honest about things. Optimism is great, but honesty is better. Sometimes it takes a while to find the right home for you and you don’t want to compromise for your broker.
3. Unbiased — shows you all kinds of listings
Is a broker showing you houses that you are not excited about and acting overly excited about them? Check to see if his office is also listing that house. Sometimes brokers have extra incentives to show you specific houses. This is like a taxi driver that is paid to take you to a certain restaurant or club — it is not cool and probably not in your best interest.
4. Attentive — has time and patience for you
Your broker might be out with clients or on the phone, but she should always be responsive. If you have an unanswered email or an un-returned phone call and more than 8 hours has gone by, that is not a good sign. Brokers have cell phones and text and email in their pockets. If they don’t have time for you, its time to find someone new.
Great brokers get back to ASAP, even if it is just to say “can we talk in a couple of hours.” Don’t settle for anything less.
**Tip — sometimes a newer broker will have MORE time and attention to give to you than a seasoned one. If your situation is not a complex one, you might want to give the new guy a chance.
5. Creative — Never gives up!
A good house properly priced will likely have multiple offers. Does your broker know how to make your offer stand out? Also, lots can happen between an accepted offer and the closing of a deal. A good broker always has your best interest at heart and knows how to creatively work around challenges. If you find that your bids are getting rejected, something is not right and it is probably time to move on.
There are lots of other things that go into making a great broker, but if your broker doesn’t have these characteristics above, you may want to think about moving on…
