Talk To Scott

So how do many people pick their realtors ? That is something that has always interested me. Before I became a real estate agent, I was a high school coach for 31 years. I bought and sold houses often….too often, in fact, but that is the subject of another blog. I did what other people do. I made an assortment of decisions. I picked someone off of the sign; I picked someone out of a phone book; chose the mother of a player I coached(really bad decision); got a recommendation from a friend; I even chose someone from a newspaper ad with either a tumor or a phone stuck to her ear. One thing was certain: I didn’t put a great deal of thought into my decisions. We (meaning, my wife, my various realtors, and I) muddled along and managed to achieve the goal of buying and selling houses. Obviously, I could have done better. Here are some things that you might consider.
 Time on the job. Experience does have its advantages.
 Number of recent sales. The average agent sells about 6 houses a year. I hope that you are looking for someone who is above average. Past performance is generally an indication of future performance.
 List price versus sold price for you potential employee. In other words, does the agent you are employing have the skills necessary to price the house correctly? That is a sales skill, which is rather important for a person in sales.
 Does the realtor have a network of professionals that aid in the transaction? Can he/she recommend someone who can help you find a mortgage, make home repairs, stage your house, provide a home warranty, or inspect a home once it is under contract?
 What kind of support does the agent’s office offer? Is it a one man band—operating on a cell phone, or is it a professional business with support staff, a relocation department, multiple websites, and name recognition which attracts buyers?
 How will I be updated? Phone? Email? Text?
 Referrals? Can your potential agent provide you with the names of his most recent clients?
Let’s face it. You are going to hire an employee, someone who is going to help you with the most important purchase of your life. Doesn’t it make sense to hire someone whose professional skills are worthy of the task?

I have to admit it. Some of you reading this ( or should I say both of you) might think that I am old. Ok, I’m 60, but I have come to believe that old is anyone who is 15 years older than I am. But I digress. What I am thinking about is interest rates. I am old enough to have borrowed money for a house at  14.25%. Nowadays, that would be a bad rate for a credit card. Rates right now are around 4.75% If you need a place to live, and we all do, quit renting and scrape the money together for a down payment and go buy a house.

When interest rates go back up, and they will, look me up and thank me for the heads up.  Think of it this way, interest rates go back up to 6.75%—still way cheap. On a $100,000 note, the difference between current rates and 6.75%  is $2,000 a year. If you stay in the house 10 years, that’s a savings of $20,000. That’s real money.

Get off the couch, and go to the bank and see what the mortgage officer says. The trip will make you money.