Posted October 19, 2006  Ideas To Help Select A Real Estate Broker As the present housing marketing continues to show signs of slowing and as record numbers of people become real estate agents, selecting the right real estate agent for you becomes very important. In Colorado all agents are called Real Estate Brokers. The National Association of realtors announced in a recent statement that 74 percent of sellers and 64 percent of buyers chose the first agent they meet as the one to work with, which may be less time consuming but not necessarily a good thing.

With all the possibilities for problems with the paper work, the physical condition of the home, the loan papers and all the closing and transfer documents it is imperative that you get a professional to help you, with what will probably be your largest lifetime financial investment.

It has been said for many years that purchasing a home and procuring the loan that it takes to put the transaction together is easily one of the top ten most stressful experiences of life. Choosing the right real estate broker can go a long way in making the buying or selling process go smoothly, as it should. In this area I have done 100's of real estate transactions in my career and the one thing I am sure about, it is a lot more fun when things go without a hitch, running smoothly from beginning to end.

A good real estate broker, one that is professional, extremely knowledgeable and most importantly, one you really get along with and enjoy being around, will make the transaction seem like it is not really happening at all. She or he will be able to give you advice, counsel and expert customer service and attention to detail. Let me assure you there are plenty of details to look after doing a real estate deal in Colorado.

1. Avoid the temptation of letting family members or friends give it a go. Yes it is nice to help a loved one or friend get their foot in the door and a commission in their pocket. Remember it is more difficult to talk to a family member especially when things go wrong because it becomes personal and can create hard feelings that will last for years. This is not iron clad of course, family members may have 15 years of experience and be very professional and handle the transaction with ease. Just keep in mind the emotions involved with family members. You treat and talk to each other differently, not like with a stranger.

2. Avoid part time agents, those who practice in their spare time. Real estate laws and practice are always changing, as is the marketplace. You need someone who gives it their all 24/7 and who is paying attention to a life long career.

3. In larger markets and even in the Fort Collins and Loveland Colorado markets it is always good to interview agents who have had experience buying and selling in the exact neighborhoods and areas you live in or are interested in buying in. This is especially true in  areas like acreages, farms and ranches where it becomes even more critical.

4. When interviewing an agent remember you are hiring an individual business man who actually owns his own business to do a very complicated job for a very good fee. Do not be afraid to ask him/her the tough questions. Who have they worked with and be sure to get the names and phone numbers of the last three. Then check them like you would any other references you check when you hire an employee or contractor. Good brokers will be happy to give you names. If they hesitate there might be a problem. Also ask them how many transactions they have done so far in the year. When all is said and done and the dust settles, in sales, success breeds success.

5. If you are a seller you need to get a comparative market cost analysis and an average days on the market analysis in your price category. In addition you need historical records of prices, number of homes sold in your price so you can determine how tight the market is and whether it is rising or falling. This can be very important depending on your category. For example: in the Fort Collins and Loveland markets in spring of 2006 condo prices were decreasing in price much faster and further than single family homes.

6. If you are a seller you should receive a marketing plan for how the broker plans to market your home which now is like any other product for sale. The tighter the market the more the competition. When demand falls and inventory increases sellers have to be nimble and quick to be the most successful. You need all the information from your agent you can get.   Other questions, will there be open houses?, advertising and in what media? What other marketing tools are they going to use.  Many brokers have their own supplements and advertising books now, will you be included and when? And very important what will be your internet exposure for your home. The internet is becoming more and more of a selling and buying tool. Again according to the National Board of Realtors 74 percent of all potential home buyers use the internet as part of their real estate transaction nationwide. You may feel free to ask for their plan in writing.

7. Do not let it bother you one way or another if the broker is male or female. In over 25 years of experience it does not matter. There are really good ones and really bad ones and everything in between, no matter what sex they belong to. The one that feels right to you is your best bet.

8. Finally and maybe even most important, don't forget the gut emotion factor. This is also called hunch or women's intuition. Do not discard this feeling. How do you emotionally feel about working with this individual. If you feel good your chances of success are very great and if your gut feels bad,  things could get ugly.

Published by www.aboutftollins.com