What to look for in a real estate agent in 2023
Buying or selling a home is a major undertaking, no matter how you slice it - but few things alleviate the stress and pressure like working with a great real estate agent. Whether you’re in the market to buy, sell, or both, a great agent can take the heavy lifting off your hands, and ensure a great outcome - financially and in terms of lifestyle and comfort.
Fortunately, the characteristics of a great real estate agent - and the steps you can take to ensure you find one - are just about the same, whether you’re looking for an agent here in the Denver area or elsewhere, this year or down the road. Here are a few key things to consider.
Consider experience level
One of the first things to look into when considering a real estate professional is level of experience. Find out how long an agent has been practicing, how long they’ve practiced in your area, and, if relevant, what line of business they were in before. Keep in mind that everyone has to start somewhere, so you don’t necessarily want to eliminate a potential agent simply because they’re new to the profession. As a matter of fact, newer agents will often go the extra mile to earn your business and prove themselves capable, and may work on a more favorable commission structure. That said, experience is always valuable, and in a competitive market like the Denver metro, it’s certainly a data point you’ll want to consider.
Look into areas of expertise or specialties
Specialties and areas of expertise are similar to overall experience - you shouldn’t necessarily consider them a dealbreaker, but they can absolutely help you narrow down your list of candidates and choose one particularly aligned to your goals.
Specialties, or areas of expertise, for real estate agents can be very broad or very specific. For instance, some agents who deal in residential homes are equally experienced and adept at both buying and selling homes, whereas others prefer to focus on one side of the transaction (in this case, representing either buyers or sellers, rather than both). Within these broad categories, more specific ones exist - some agents may specialize in particular neighborhoods or home types.
There’s no clear-cut guide to agent specializations, but they’re another useful factor to research in potential agents. You just may come across an agent who happens to specialize in the type of home or the area of town that you want to pursue.
Understand commission structure
Realtor commissions are an important factor to consider when comparing real estate agents. Today, most real estate agents charge somewhere in the neighborhood of 4-6% of a home’s sale price. In the Denver area, where the median home price is around $560K (as of late 2022), the difference between the lower and higher end of this range is in the tens of thousands of dollars. Understanding (and effectively negotiating) the proposed commission structure of various agents can make a significant difference in your final out-of-pocket costs.
Look at online reviews
There’s never been an easier time to get a feel for how favorably clients view a business (or businessperson) they’ve dealt with than today, and real estate agents are no exception. Simply searching a potential realtor’s name should bring up several online platforms with reviews from real clients. This makes it easy to get a feel for someone’s reputation amongst their clients, and can help you catch any red flags. Keep in mind that people are more likely to review someone negatively if they’ve had a bad experience than they are to review someone positively if they’ve had a good experience, so take complaints with a grain of salt, unless they are frequent or follow a pattern. Reviews can also give you ideas of questions to ask agents you’re interested in working with.
Consult our list of the best real estate agents in Denver
It’s not far away - just click here - and will instantly introduce you to some of the best real estate agents working today in the Denver area. Go check it out!
Interview your top candidates and go with your gut
At the end of the day, as long as you hire a certified, qualified real estate agent who you trust and have a good rapport with, odds are, your transaction will go smoothly. The best way to find that fit is to conduct interviews. Once you’ve made a short list using the criteria in this post, select a few finalists and reach out to them to request an introductory call (any reputable agent will happily take such a call free of charge). Tell them about your goals, ask any questions on your mind, and get a feel for how you might work together. This “interview” (or introduction, or consultation - however you prefer to describe it) can be as formal or informal as you want it to be. Just be yourself, be prepared with the questions you want to ask and the topics you want to cover, and listen closely to the responses you receive and follow up questions you’re asked. At this stage, the most important thing to look for is a positive working relationship.
There you have it - everything you need to know to ensure your search yields a trustworthy, qualified real estate agent to help you buy or sell a home in the Denver market. Don’t forget to check out our list of the top realtors in the Denver area as a starting point. Best of luck in your process!