[Last updated on January 31, 2024]
If you plan to sell your home before moving to a senior living facility, it helps to hire a real estate agent with extensive experience, knowledge, and training. This guide explores what a real estate agent does, how they get paid, and how they can help you find the right buyer for your beloved home. Learn the important facts about real estate professionals and how to find a real estate agent to help you sell your home.
What does a real estate agent do?
Knowing what these industry professionals do can help you find a real estate agent to help you with this big life step. A real estate agent guides homeowners and potential buyers through the complex real estate market. A real estate agent is a valuable resource for navigating market conditions and locating quality professionals for property transactions. There are two types of real estate agents:
- Buyers agent: This real estate agent focuses on assisting home buyers by searching market listings, making offers, and negotiating on behalf of potential buyers.
- Listing agent: This real estate agent specializes in assisting home sellers. Their expertise focuses on the listing, marketing, and pricing of homes. Listing agents negotiate on the seller’s behalf.
A real estate agent can be both a buyers agent and a listing agent — sometimes for the same property.
Realtor vs. real estate agent
You may hear the terms “Realtor” and real estate agent interchangeably, so we’re breaking down the two terms here. While all Realtors are real estate agents, not every real estate agent is a Realtor.
Realtors and real estate agents must have a license in the state where they practice. Additionally, they both must comply with state and national laws.
Realtors are real estate agents who have become members of the National Association of Realtors (NAR). As members of this association, they pledge to uphold a code of ethics and maintain its standards. In return, they receive special access to real estate market data and transaction management services, which can help home buyers and sellers make the most of their real estate experiences.
Realtors can also take courses through the NAR to earn additional designations, such as becoming a Seniors Real Estate Specialist®. If you work with a Realtor who has this designation, you’ll know that you’re hiring an industry professional who has experience working with the unique needs of older adult home sellers.
[Read more: Benefits of Using a Seniors Real Estate Specialist®]
Real estate agent vs. broker
A real estate broker is a real estate agent who has completed additional training and coursework. A broker will have a real estate broker license through their state of operation. The broker must pass an exam after completing the necessary coursework to get licensed. Essentially, a real estate broker has in-depth, high-level knowledge of the real estate business.
Besides knowledge, the primary benefit of obtaining a real estate broker license is the ability to operate independently and oversee other real estate agents. Some brokers choose to work under a managing broker.
How to find a real estate agent who suits your needs
With so many real estate professionals available to help you buy or sell your home, choosing the right one for your situation and preferences can feel challenging. Taking these considerations into account can help you find a real estate agent to suit your needs:
Assess the real estate agent’s responsiveness
An ideal real estate agent is responsive and prompt. If an agent is slow to respond to initial contact, it may be hard to reach them when it matters most. Conversely, an agent who responds quickly and follows up may be more communicative and helpful throughout the process.
Seek referrals from friends and family in the area you’re buying or selling the home
Ask local friends, family, and co-workers who have sold their homes to recommend a real estate agent in that area. While their recommendations may not all match your particular circumstances, word-of-mouth referrals can give you a good place to start.
Research real estate agents online
Search online for details on real estate agents, such as years of experience, the number of properties sold, and recent listings. To find information on an agent, type their name followed by “real estate” or “Realtor.” Use your best judgment when vetting potential agents, especially when reading reviews.
Interview a short list of real estate agents
Once you collect a list of qualified agents, conduct phone or in-person interviews to understand their industry experience and how they can help you. Getting feedback about these questions can help you find a real estate agent matching your preferences:
- • How long have you been in the industry?
- • How many houses do you list each year? How many do you sell?
- • What is the percentage of listings that are sold under your management?
- • What is your advertising strategy?
- • How would you plan on listing my home?
- • How will you use social media to promote my listing?
- • What traditional offline marketing methods will you be using?
- • Can I see previous advertising examples?
- • What is your advertising budget?
Evaluate their skills
At this stage, you should have a relatively good idea of each real estate agent’s ability and skill range. It is best to narrow your list by removing agents with less than two years of experience, low sales numbers, and any agent with multiple negative reviews. Finally, remove anyone who hesitated to answer any of your interview questions. You want a real estate agent who evaluates themselves and knows their numbers.
Consider how they will market your home
Selling a home relies on a solid marketing plan. Consider which marketing tools each agent plans to use, the marketing budget, and how the marketing plan will enhance your home’s appeal. The best real estate agents offer additional services, including video, drone photos, custom print materials, a rendered floor plan, staging, and a plan to improve your home’s value.
Ask the agent about the costs of selling your home
There are fees and costs associated with selling a home. Among them are closing costs, your agent’s commission for their guidance and expertise, and others that may apply to your financial situation. Some home sellers will have financial considerations that others do not, like a mortgage payoff if you have an existing mortgage, for example. A great real estate agent will discuss these details so you know what to expect.
Working with a real estate agent is worth it
Anyone selling their home wants to have a positive experience, get the most value for the property, and have guidance in navigating the steps of the process. Finding a real estate agent is worthwhile because you work closely with a professional with industry expertise and insights that will ultimately help you access funds to pay for senior living expenses.
