How to Compare Real Estate Agents

The best local real estate agents will have a higher than average production volume. They are consistently, year over year, closing more deals than their competitors. How the best agents accomplish this is what makes them special, so while comparing real estate agents you will need to ask about some of their unique sales strategies.

When a real estate agent presents a home for sale they have to set a price. This is called the list price, and it's typically determined by looking at the price of similar listings or recent closings in the area. When a real estate agent sells the home for more than it was listed for it creates a high sales-to-list ratio. If the home is sold for less than the list price, it creates a low sales to list ratio. A top real estate agent should have, on average, a sales-to-list ratio that is over 100%. It means they are more frequently selling a home for more than was expected and their clients are making more money. This is a great measure in particular for home sellers to review when searching for the best real estate agent.

Real estate agent pay is all commission based, so agents are not having a long career in the industry unless they're closing deals. So, in addition to all the benefits that come with a seasoned veteran - neighborhood familiarity, servicing diverse transactions, working through market highs and lows, and more - you'll know your agent has the skills and experience to put their clients first and close transactions.

The agent you ultimately work with should be a strong communicator. This can take many forms, but one of the most important skills is to distill down and explain complex information to you as well as communicate your position to other parties, such as another agent. Additionally, your agent should maintain providing you with regular updates if you're in the midst of a transaction, promptly follow up with your calls/texts/emails, and be proactive in communicating to ensure your needs are being met.

When comparing top real estate agents, the best real estate agent should follow-through when they commit to completing a task. You'll only need to make a request of a top rated agent once before they accomplish what you ask and go the extra mile doing so. Additionally, follow-through from a true real estate professional means preparing you for future steps to ensure you have everything you need for a successful transaction.

The real estate agent you select will represent you in one of the biggest financial transactions of your life! This means you'll want to select someone who will always be honest with you and that you have complete trust in. Further, to build a strong partnership with your agent you'll want to be honest about finances, priorities, and anything else to have the best deal possible.

It's important to know what you are looking for in an agent prior to meeting with them. This could be specific skills, professional experience, personal characteristics, or a combination of all three. Agents spend a lot of time selling themselves and have well rehearsed talking points for why they are THE agent you want to work with. Knowing what you want out of an agent and sticking to it will help you find the partner you're looking for.

Having a set list of questions to ask an agent during an interview will allow you to control the conversation. You can start by asking about their experience in your target neighborhood, average closing numbers, or generate your own about whatever's most important to you. Keep in mind that an agent's answers may change based on whether you're looking to buy, sell, or both.

Although less scientific in nature, it's important that you feel a personal connection with a real estate agent, and an interview is often the first time this might surface. This agent will be representing you while making a major financial investment so you need to trust them to do what's best for you. There may also be many times you ask for your agent's opinion when presented with multiple options, so you'll need to value their decision making process. Overall, the “gut-check” is immeasurable, but you'll know the right connection to an agent when you feel it.