"Our Selection Process"
Selecting a highly qualified real estate agent is an important and complex task. Real estate consumers often rely on their agent for key information and rely on them for unbiased and informed expert advice. Our search process is designed to help find a highly qualified real estate agent and to help fester out agents who regularly engage in unresolveable conflicts of interest (such as dual agency).
We believe that an agent should be someone whom you can trust with valuable negotiating information. Your agent should be representing your best interests above all others, especially their own. That means that your agent should avoid dual agency in almost all situations. Dual agency occurs anytime the real estate firm represents both a buyer and seller on the same property (regardless if a transaction takes place). Dual agency is an almost total reduction in the level of services provided by your agent. In a dual agency situation, your agent may no longer provide you with advice that may be construed as "adverse" to the other party. In fact, most of the services for which you may have been relying on your agent will probably be eliminated by dual agency. In a dual agency situation, your agent basically abandons you, yet the agent usually insists on getting paid a full fee. In addition, the timing of the "abandonment" is typically at a very key moment in the transaction - just when you have found the transaction is ready to be consummated.
Although dual agency should routinely be avoided, there are some situations where dual agency might be O.K.:
In addition, there are other criteria that should be considered when selecting a real estate agent. Your agent should have a skill and experience level that will enable him or her to help you accomplish all your housing goals efficiently and conveniently. We take a lot of information into account when we interview an agent on your behalf. For example, we inquire into both the agent's skill level as well as their ethical performance. What professional designations has the agent earned? What professional real estate offices has the agent held? Does the agent have special skills in home inspection, appraisal, mortgage lending,...? Does the agent have a college or post graduate degree? How many homes has the agent sold or helped purchase in the last 3 years? How many new construction homes? How many condominiums? We even inquire into the type of vehicle that the agent drives.
Most people make very little effort to find a highly qualified real estate agent. In fact, many people feel obligated to use a friend or relative. Selecting a real estate agent can lead to all sorts of legal and financial ramifications. For example:
Although we take a lot of care in trying to find you the very best real estate agent for your needs, there are a few things that we don't attempt to control. For example, we don't perform a criminal background check; we don't check with the regulatory authorities to deterimine if there are licensing violations (we do recommend that you call them); and, we do not have access to REALTOR ethics records (they are usually private).
Hiring a highly qualified real estate agent can remove a lot of the stress involved in relocating. We take a lot of steps to increase the chances that your agent will perform well for you. Please consider using 1Agent to help you find your next real estate agent.