"Real Estate Agent" Is Just Another Name For "Salesperson"
Don't ever lose sight of that fact. Their only mission is to sell, sell, sell to YOU. Don't ever let on that you are in a desperate situation, or that you need to sell a house fast to pay for emergency bills, or that you are in a desperate crunch to buy this house now, because you are being transferred into town this week. It's simply none of their business and as far as they are concerned, you are not in a rush to buy a house.

You cannot guarantee impartiality
If your real estate agent's commission is based on the selling price of a house you are about to buy, you cannot guarantee that the agent has your best interest at heart. The only way to guarantee that is to actually pay a large fee to a real buyer's agent who does not get a percentage of the selling price. But the fee almost removes the benefit of bypassing the commissioned real estate agent in the first place. To play it safe, never tell anyone but yourself how high you are willing to go. By law the seller's real estate agent has a fiduciary responsibility to the seller, and they WILL tell the seller everything you say, so pretend you are under police interrogation. The first thing the agent will do is ask you how high you are willing to go on the house. Don't fall for this trick. Just give them the price you want to pay for the house and if they ask how high you are willing to go, tell them that's it. If the seller does not agree there is no deal and you're taking your money elsewhere. If you are a home buyer, don't think your real estate agent is "going in to do battle on your behalf" with the seller's agent.

Choosing A Good Real Estate Agent
If you are buying a house instead of selling a house, you really don't need a real estate agent. For many savvy home buyers, the only purpose a real estate agent serves is to get the buyer past the guard at a gated community, or to unlock the key to the seller's empty house from the lock box on the front door. They also handle the closing and escrow, which can be done instead by your property attorney. But if you know you have a great Real Estate Agent who will tenaciously hunt down houses matching your criteria, it can save you a lot of time. But you do still need a good property attorney, and no matter what you do, don't let your real estate agent choose your property attorney. You choose your own property attorney on your own.

Before hiring a real estate agent, I tell everyone to watch a movie that accurately portrays a large number of people in the Real Estate Agent industry:

There are good and bad real estate agents, as in other businesses. I'm sure I'll get a lot of hate emails from paranoid real estate people for this, but I'm going to point out some specific examples that I have come across that testify to the degree of greed there is in the real estate industry. We are not trying to portray all agents as bad.

• A real estate agent we know went to lunch and left a few "real hot leads" on her desk of sellers who were interested in bidding on a property. When she returned she discovered another agent in the office had grabbed the leads, contacted one of the buyers, and closed the deal, stealing the commission.

• A real estate agent we know told us that she knows a few real estate agents that spend all their time looking through the MLS listings for the houses that pay higher overall commissions or higher commissions to the buyer's agent. These agents then shove these high commissioned homes down the throats of unsuspecting buyers looking for a "good deal". Greed is good.

• One real estate agent would get really antsy and complain if you did not buy the first house they take you to. It seems they only cared about getting that commissions and everything else was secondary.

• Some real estate agents make home buyers pay a fee up front that does not even guarantee them a real buyer's agent. The fee is just a guarantee for the agent that the buyer is now committed to buying a house through them.

There are also some very good real estate agents

• We had an agent who sold my grandmother's condo and she was a true professional who sold it within 8 weeks of listing, even though the president of the condo homeowners association did everything humanly possible to withhold required paperwork and thwart the sale. This agent on her own initiative brought in a broom and swept up some dead bugs in the house because she knew that would be a turnoff to prospective buyers. She even arranged for a repairman to fix the AC unit before the empty unit was shown to buyers.

• Our neighbor across the street had a real good agent who sold her house in 9 days. Her daughter up the street sold her house in 2 weeks.

Choose a successful Real Estate Agent
The better agents have success selling homes in the neighborhood you are looking in. Often you'll find the same 2 or 3 agents closing deals like crazy in a neighborhood. Real estate agents often have a full page ad in the local home classified magazines listing houses grouped in one area. Successful agents have lots of houses listed. Part timers and unsuccessful agents may have few if any homes listed. I really have a hard time recommending someone who does this as a part time second job. I just do not see how you can get the attention you deserve from a part timer.

Choose a Real Estate Agent that has the right personality
Your relationship with your Real Estate Agent can turn sour from bad communication. The Real Estate Agent may grow impatient that you are not making any offers on homes that match your list of criteria. They might start to complain that you are not serious about buying and that you are just wasting your time. You might start to complain that all they care about is selling the first house they take you to. These are communications problems that can be avoided if proper communication is disclosed up front. If you know you are an impatient shopper, or that you have to look at a dozen homes before you make your mind up, let the real estate agent know. Some are more patient than others. Make sure they have an accurate list house criteria you are looking for, and don't spring any surprises on them after you have seen 10 houses. Give them a written list of all your house buying criteria. Make sure your real estate agent knows every last detail of what type of house you are looking for.

Many Real estate agents will not show you new construction homes
A lot of builders refuse to deal with real estate agents because they don't want to pay them a commission. The builder feels their homes will sell themselves and they don't need to pay any Real Estate Agent commissions. Because of this, many Real estate agents won't tell you about new construction homes, even if they fit your criteria list and price range.

      Related Tips For House Seller:

• How To Sell Your Home

  Many sellers have unrealistic expectations for their property value, especially on condominiums and townhouses. These types of property at least here in Florida do not hold their value very well, and very few of them appreciate. Often the builders of new condos and townhouses charge buyers too much money and when the buyer resells years later, they are shocked to see how much value their unit lost. They will have a hard time selling their condo, especially if the maintenance fees are high.  Read more

• How To Choose A Good Real Estate Agent

  "Real Estate Agent" Is Just Another Name For "Salesperson" Don't ever lose sight of that fact. Their only mission is to sell, sell, sell to YOU. Don't ever let on that you are in a desperate situation, or that you need to sell a house fast to pay for emergency bills, or that you are in a desperate crunch to buy this house now, because you are being transferred into town this week. It's simply none of their business and as far as they are concerned, you are not in a rush to buy a house.  Read more

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