The #1 Unknown Fact About Real Estate Agents

Real Estate Agents Are Independent Contractors.

That's right! We are required to affiliate with an established brokerage, but in all reality we are responsible for our own business.

In all truth, the other Agents in the office are as much our competition as the Agents at other brokerages.

Why does this matter to you?

In most cases it will have no effect on you, but it is something that you should keep in mind when interviewing potential Agents to work with.

There can be huge differences between pricing strategies, marketing plans and communication skills between Agents in the same office.

How does this effect an Agent?

I can't speak for all, but there are a few times it comes up in my course of business.

• The Interview Process - Often times I will hear "I already interviewed someone from your office". My office has 157 Agents, talk about "Agent Roulette"
• Bad Experience - Once in a while when marketing to potential clients I will encounter someone who will not even consider speaking with me due to a bad experience with another Agent from my brokerage.
• "Big Name" Brokerages - This one actually helps me, but it is something you should be aware of. There are some very qualified people working with smaller, local brokerages that don't instantly come to mind when you start to call for interviews.

How can you narrow the field?

• Listen to the Agents that contact you. These are people that are obviously aggressively working in the business.
• Focus on an Agents personality to be sure it is compatible with you. Transactions can be stressful enough without having to battle with your Agent as well.
• Determine what traits you want your Agent to have before starting the search. Write down questions that will help you make your decision. (Don't download the 10 questions to ask your Realtor, we came up with those questions!)
• Have potential Agents send you a copy of there marketing plan, pricing strategy and general business approach via email so that you can go through it prior to setting up an appointment.

The average transaction will take 45-60 days to complete once an offer is accepted. You will be in daily contact with the agent you hire for at least 2 1/2 to 3 months or more. This is not the time to be cutting corners or taking the "their all the same" approach.