Here’s a great comment on selecting an agent that makes a lot of sense (because I didn’t write it!). I didn’t want it to get lost in the shuffle so I reprint it here.
“Though I agree with some of the techniques Chris mentions in scoping out the “better” agents, I have to say that elevating this town’s handful of good brokers to a level of consummate competency is unfair.I had used a couple of the “power” brokers in Greenwich on different occasions and found them to be too busy and/or scattered to pay me the kind of attention that I felt I deserved. They have too many listings and clients to manage with equal effectiveness. I eventually went with a lesser-known, non-veteran agent who has been wonderful. She appears to be among a large group of serious agents in Greenwich who are hungry for business but seem to be edged out by the veteran agents who rule the market — just because of their reputations. And not all of these veterans have favorable reputations on the street. I’d rather deal with someone who is smart and sincerely a hard-worker (even if he/she is not a veteran) rather than a tired, pushy, elitist.”
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Thanks for bringing my comment up to the forefront, Chris.
I appreciate that you think it’s that worthwhile.
Being in a very high-level management position with customers coming to us seeking representation by our associates (we are in finance, duh…), management here tends to “distribute the wealth”, so to speak. We divide incoming business equitably amongst the veterans, newbies, and mid-career associates. We don’t allow the smaller percentage of veterans to carry the greatest share of the clients’ financial interests. The logic is that if we lost those veteran associates either through death or relocation or just simply moving on, it would cause a huge disruption in the flow of our business.
What I don’t understand is this –
Do real estate managers spread the business around to their agents in an equal manner? Surely, they must think all of their agents are competent otherwise why hire them? The agent I am working with now was not referred to me by her manager. We met by chance. If I had called her manager, I wonder if her name would’ve even come up. I also wonder if management doesn’t enable the power brokers to rule the market.
Would you be so bold as to name names? It would be appreciated.
Yes — this DOES make sense!
Thx for posting this, Chris.
“I’d rather deal with someone who is smart and sincerely a hard-worker (even if he/she is not a veteran) rather than a tired, pushy, elitist.”
I agree. As a buyer with under $2M to spend, a hungry broker who views me as a valuable client has a head start over the top performers who don’t want to waste their time with my “small” budget.
Yes – I too – prefer a person – that shows they are 'aggressive' in selling your home.
It seems – most get a listing – and forget about it – little said or done to sell their property.
If a realtor is not interested in your property and does not believe they can sell it – then – don't take the listing! Plain & Simple!
Very intersting comment!
I’m all for using a hungry agent, particularly as I’m one himself. And it makes sense that someone with 20 listings isn’t necessarily going to have the time to devote to yours, although much of that “attention” is hand holding rather than actively moving your house (these heavy hitters have paid staff members to deal with the latter and, for the most part, they do a great job). But you do want to use an agent who goes out there and learns the inventory so that he or she can advise you, the seller, on what your competition is and you, the buyer, what’s worth looking at and what’s a waste of your time. A beginner can do this – what I don’t want is the services of one of the 900 or so agents who hasn’t been to an open house in two years and has less idea of what’s happening in the marketplace than you do.
In response to one request no, I really don’t want to name names. It would be unethical to disparage another agent and if I singled out, say, 20 agents for particular praise, there would be 100 other good ones who I’d offend by ommission. That’s not good for someone who will probably be working with all of them over the years putting deals together. Besides,if they want free publicity, let them start their own blogs!
Chris,
Most of us buyers already know the inventory by looking at the profusion of web sites out there….and we know what we want. That’s the beauty of the internet. My wife and I have bought several homes in Greenwich, a couple of which were purchased with an out-of-town agent. Anyone can show homes…but it takes someone with dedication and patience and great communication skills to get the deal together, analyze pricing intelligently, and close it.
A picture may be helpful but, as someone who’s taken his share of real estate photos for publishing on the net, I can tell you that they’re taken from the most advantageous angle, don’t mention the sewer plant next door and don’t convey the roar of the Thru-way from four blocks away. negotiating skills are essential, as is the knowledge of what’s a reasonable offer and what isn’t, but the Internet isn’t the end of the process of buying a house, it’s a beginning. Just ask Zillow.
I also wouldn’t under-rate the value of local knowledge. I won’t show houses in Stamford, as a general rule, because I don’t know enough about the neighborhoods to add value. The few exceptions I’ve made were because I happened to already know something about a particular house and a particular street and felt that I had enough knowledge to help my clients make a sound decision. Otherwise, I refer them to someone else.
Good Point about pictures of the property – i e – one next to the
‘S–T’ house’!
Why any-one would want to live next to a sewage treatment plant is beyond me!
Anonymous said (and, by the way, anonymous posters can always leave a first or screen name without fear of being hounded. And if there’s a question you’d rather not see posted publicly, feel free to email me privately)
“Why any-one would want to live next to a sewage treatment plant is beyond me!’
The answer is, the right price will overcome every objection.
as your posted commentor said, “among a large group of serious agents in Greenwich who are hungry for business but seem to be edged out by the veteran agents who rule the market …”
I agree. Here in Tucson, AZ, where I’m an agent (and not one of the veterans) there are many very good long timers, and also many slugs who continue to get business on their (ill deserved) reputations. quite a few operate as if this were the 1980′s and the internet hadn’t been invented yet, and photography was at it’s infancy, and well, you know the type.
Hello, Chris!
I think several of your bloggers’ comments are very interesting.
You didn’t address what I thought was a good point about the real estate companies here distributing incoming customers’ business equally to their agents.
Is it so that the heads of these offices perhaps steer business away from newer agents by highlighting the old-timers? So we the consumers haven’t much of a choice really if all we hear about are the same old names and faces, yes?
Seems like a popularity contest to me.