Need a veteran real estate agent? Local expert that knows the market? There are advantages to experience that this post points out.
When you interview an agent for the sale of your home or to purchase a new home ask for their resume of experience. If you don't feel comfortable with the agents (or loan officers) answers, maybe there's a reason like lack of market knowledge and experience?
Honestly, do you want them practicing on you with one of the largest purchases of your life?
Real Estate Professional in Training and YOUR HOME is the Training Ground!!
Everyone is a "newbie" at some time. We see managers training the teenager at Taco Bell or the "Student Driver" signs atop of cars. But when was the last time you saw a "Real Estate Professional in Training" badge on a Realtor or loan officer?
Never?
A good real estate company will hold an agent's hand during the "baby" stage. And a good lender will make sure a complete mortgage application is completed for a new loan officer. Sadly what often takes place is a "sink or swim" training method and some poor soul's home purchase is the training ground. We've seen this with both newbie real estate professionals and often with the "I'm using a relative" scenario.
Is it a fair question to ask a professional how many transactions they have completed lately ... this year ... EVER? ABSOLUTELY.
I'm working with a newbie ... I'm scared!
As a home buyer, working with a new agent or loan officer isn't necessarily a curse. Just because a real estate professional is new to the business doesn't mean they have to be new to professionalism! Indeed, some new real estate professionals are years ahead of some of the "dead wood" that has been around for years. (And I would tell some people to their face if they asked!). If a newbie has strong support, you can feel confident they should do a fair job. If they lack support and they are green, then you are rolling the dice and "good luck" with them handling one of the largest transactions of your life.
Real estate transactions are highly detailed. The home buyer should never be the training ground that a new agent or officer learns the ropes on. They might lose a commission check if the transaction doesn't close. A home buyer however may lose a home, a place to stay, a lot of money, or even worse.
As a home buyer, DO NOT be afraid to ask questions upfront and put the professional you choose to work with to the test. Any professional worth your time will welcome the questions and concerns. And that is a fact, because in such a situation, the professional has the oppurtunity to shine, which will help all parties understand one another and work better together.
(Side Notes for the Professional ... As a new agent or loan officer, do not accept a company that treats training as a "put out the fire" situation. If the company you are joining doesn't have a training program written down before you join them, be skeptical about what training you will recieve. Some owners/managers are nothing more than glorified salespeople and are only looking to make money from you. They don't care about your success. Don't line their pockets as you make a bad reputation for yourself.)
Steve Kappre is a mortgage loan officer in New Jersey. For more info or questions feel free to contact Steve.
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Lyn,
that's a great re-blog :) thanks for sharing it there is plenty of information here on AR that we miss a lot don't we? take care and nice to see you around.
Lyn, Experience should count, but also teach and train a newbie, perhaps bring them along and when they have contacts they might bring you along to share in their experience in getting their first listing.
Lyn- maybe this is where my "crazies" are coming from- the newbies that are in a sink or swim scenario. Thanks for the re-post of an article I hadn't seen.