COGnitions

13
June 2017
COMMENTS (0)Buyer Advice, Home Ownership, Seller Advice

Five Qualities to Look for in a Luxury Real Estate Agent | By Jeff Hamilton

Whether you’re looking to rent or to own, one of the most important decisions you’ll make along the way is the person you’ll select as your real estate advisor. Take some time to vet the luxury real estate agent community in your area—and pay close attention to our list of high end real estate agent “musts.” A little pre-screening can go a long way in securing the real estate agent you’ve been waiting for.

1. Demand A Local’s Insight

Your luxury real estate agent should be skilled in ascertaining relevant information on a dime. When it comes to high-end real estate, an excellent luxury real estate agent understands local market trends. They can expertly analyze local list-to-sales price ratios, evaluate average price per square foot, and understand how much inventory is available at any given time. A quality agent should also be able to provide detailed information on recent sales in the area – typically those made within a ninety-day period.

Ultimately, you’re looking for a high-end real estate agent with skills and knowledge you can trust. Don’t rely on someone who seems to lack critical information; keep shopping until you’ve found a savvy, informed agent who can help you to understand the luxury market—and to recognize a great opportunity when it inevitably comes your way.

2. Communication is Key

It’s imperative to select a luxury real estate agent with whom you communicate well. Pay attention at your very first meeting – or email exchange, or phone call. How well does the real estate agent communicate their message to you? How effectively do they deliver relevant information? Are they able to convey details in a succinct, easy-to-understand manner? Do their responses tell you they’re listening carefully?

As you’re selecting a luxury real estate agent, all of these questions matter. You aren’t out to win a popularity contest; you’re out to find a great house that meets your requirements. Therefore, selecting a high-end real estate agent who can listen to your needs and wants, then turn them into an effective home search, is critical.

Good communication matters on your end, too. Uphold your end of the bargain by letting your trusted luxury real estate agent know exactly what you’re looking for—and what you know you can’t live with. Take the time to explain which neighborhoods you prefer and why, and when you’re available for showings. Make your price range clear, and be sure to let your agent know of any specific preferences. Do you prefer a duplex, for example, or a unit with one level? How many bathrooms will you require? Are you looking for a home that’s friendly for children and/or pets? What about parking and nearby amenities? Put it in writing if your list is lengthy – even the best luxury real estate agents experience information overload! Plus, writing down your needs and wants can help you to better understand what it is you’re looking for—and what you can’t live without.

3. Smart Negotiating Skills are a Must

It’s always a pleasure to work with kind, compassionate individuals – after all, who doesn’t love great manners, excellent etiquette, and a gentle disposition? But when it comes to choosing the right real estate agent, remember that you’re looking for qualities that go above those of a friend. Your luxury real estate agent is your advocate, and must be able to demonstrate effective negotiation skills. The ideal agent’s personality is assertive, bold, and informed—but never pushy, underhanded, or overly aggressive. Select a luxury real estate agent with clout – and class. The best agents negotiate without offending anyone, and should be able to draw on past experience for reference when it comes to negotiating a contract’s terms.

4. Select a Dedicated Luxury Real Estate Professional

With so many high-end real estate agents to choose from, you can probably take your pick. Select someone who works as a luxury real estate professional full-time, forty hours a week. A fully dedicated agent is available at your request, able to provide maximum flexibility and highly responsive follow-up. Luxury real estate agents working part-time sometimes miss exciting opportunities that arise in this dynamic, fast-paced industry. Plus, a full-time luxury real estate professional is constantly touring properties in order to judge potential opportunities for his or her clientele. Selecting a dedicated agent saves you time—and guarantees an effective, cohesive search.

5. Find Someone Efficient

Buying a home may be the most important purchase you ever make— and, more often than not, it does not happen over night. You’re going to spend a lot of time trying to find the right home for you and your family. Ultimately, your real estate advocate will be the one scheduling a lot of your time. Make sure that person understands how to move around towns and neighborhoods quickly and efficiently. Are they stacking tours in a way that makes sense to maximize your precious time? While scheduling real estate tours is often an afterthought against all the other important pieces of the puzzle, it’s not an insignificant skill for the true expert.

Oh, and have a Little Fun!

Remember – imbuing a little fun in the process can’t hurt! An agent you can laugh with is always a bonus. Try to anticipate – and embrace – the moments of lightness and pleasure that punctuate your journey through the world of luxury real estate.