The Difference Between a Rookie and an Experienced Realtor
Introduction
If you're thinking about selling your home and are wondering whether you should hire an experienced real estate agent or a rookie, then read on! I will give you a detailed look at both options so that you can make an informed decision.
Rookie agents can be a gamble.
When considering an agent, it's important to remember that rookies often cut their commissions to get you on board. This is because they likely don't have much experience and are desperate for your business. While this can be a great deal for you, some drawbacks may make it worth paying more for an experienced agent.
One of the biggest risks of using a rookie Realtor over one who has been in the industry for years is the lack of overall expertise in real estate. A rookie agent has likely only worked with clients during their first few months as professionals, meaning they haven't seen all sorts of situations or problems yet (and how best to fix them). This could lead them down paths that aren't necessarily right for your home and its needs.
Additionally, rookie agents may lack the marketing savvy needed to effectively sell your home. If your listing isn't properly marketed, it could linger on the market for weeks or months without a sale. This could prove problematic if you need a quick sale or have plans depending on having sold by certain dates.
A rookie real estate agent may have a full-time job and be unable to give you personalized attention.
A rookie real estate agent may have a full-time job and be unable to give you personalized attention. If a rookie agent is working as an employee at another company, even if he or she knows your market well, it’s unlikely that he or she can devote much time to you. Rookie agents often serve as a low-cost way for brokerages to get listings in the market but cannot provide the service level experienced agents offer their clients.
A rookie agent may not have time to go through all of the paperwork with you before submitting an offer on a property because they don't have enough experience with similar transactions and need additional help from other sources such as title companies or lenders. This lack of familiarity with real estate law may lead them to make mistakes when filling out forms like Purchase Agreements and Adendumns, which could lead to costly delays during the closing, something important if you're planning on moving soon!
An experienced agent will understand how technology can allow them to work more efficiently, so both parties benefit, reducing stress during negotiations and throughout the entire transaction process (i.e., selling or buying) this will save everyone time, and time is money!
New real agents may not have the most experience negotiating the terms of your offer when going up against other seasoned agents.
As a rookie, you might not have the experience to negotiate the terms of your offer when going up against other seasoned agents. Likely, some new agents won’t know everything an experienced negotiator does.
You can bet that even if an inexperienced agent is great at knowing how much to pay for a house or how big of an offer they should make, they may not know enough about their local market to make sure their bid is competitive and won't overpay for a property. And while they might be able to save their client from losing out on a deal gone wrong in other ways by having more negotiating power than a newbie would have, those same tactics won't necessarily help them win over another experienced agent who needs this house just as badly as they do— especially if both sides are competing with similar offers while trying not to get beat out by someone else's higher bid (and sometimes even higher closing costs!).
Using a friend as your real estate agent might put you at a disadvantage when it comes to helping to identify potential problems with a property.
When looking for a new home, it's tempting to turn to friends and family for recommendations. After all, if you've known someone for years and trust their judgment enough to have them watch your dog while you're away on vacation, why wouldn't you trust their professional opinion as well?
The problem with asking friends or family members for real estate advice is that they may not be able to provide objective information about the homes they've seen or even know what questions to ask when touring open houses.
If your friend or family member is an agent who doesn't specialize in listing or selling homes in your area (or doesn't have any experience selling homes at all), they may not understand how local market conditions affect what homes sell for and how long it takes properties of different sizes and amenities on similar blocks within the same city block where there are few examples of similar properties recently sold---all things that could cause problems later on down the line during escrow/closing negotiations between buyers' agents and sellers' agents representing opposing interests!
Experienced agents can give you confidence that they know exactly what they're doing.
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Experienced agents have a proven track record. When you hire an experienced agent, you can rest assured that they know what they're doing and can get the job done. It's not uncommon for rookies to take on a new client and then spend more time learning about the market than actually selling their client's home. By hiring an experienced agent, you'll avoid that problem altogether.
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Experienced agents know the local market. A rookie might be inexperienced with negotiating prices or helping clients understand how much their home is worth in today's market--but an experienced agent will know exactly what works and won't waste any time trying something that doesn't work out well (we learned from our mistakes).
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Experienced agents have a network of resources at their fingertips that rookies don't have access to.
They have a great network of other resources.
A real estate agent's network of resources is one of their best assets. They have access to a long list of services that are available in your area, including:
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Quality local contractors and lenders
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Real estate agents in other areas
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Appraisers
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Home inspectors
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Title companies
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Real estate attorneys
You can get reasonable prices by working with experts who know what they’re doing. An experienced agent will help you find the right professionals to help you buy or sell your home, even if it means going outside their network of contacts to find better deals.
They understand how to get the best price possible for their client's home.
They are experienced and understand how to get the best price possible for their client's home. They know how to price a home, negotiate with buyers and sellers, use comparables, and use professional marketing and listing tools designed for experienced real estate agents. Experienced Realtors also know how to stage a home so it looks its best; they know how to get the best price possible for their client's home by presenting listings with professional photos and descriptions that attract visitors to your open houses or online listing.
They understand their local market and neighborhood statistics.
As an experienced Realtor, you have a deep understanding of the local market and neighborhood statistics. You understand the following:
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The current inventory of homes for sale in your area, as well as how it compares to last year at this time.
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How many homes are selling each month, and what type of properties are selling most often (hint: detached homes or condos?).
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How much inventory has been added over the past year, including how many new listings were added and how many expired listings fell off the market.
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Which neighborhoods are trending up (and which are trending down).
They have vast knowledge about many different types of financing.
There are many different types of financing options, and each one has its own set of pros and cons. For example, some loans require a down payment; others do not. Some loans offer fixed rates for the life of the loan; others offer adjustable rates that change over time based on market conditions and other factors. Some loans have lower interest rates but come with higher monthly payments or shorter repayment periods. Experienced realtors will know which type of loan is best suited to your needs and can help you navigate through all the jargon to make sure you get exactly what you want out of your home purchase!
They can deal with difficult situations so that you don't have to.
As a real estate agent, you're responsible for dealing with all sorts of difficult situations. Whether you're working with difficult sellers, buyers, or tenants, you can count on your agent to help you navigate each situation as it comes up.
A rookie real estate agent may not know how to effectively handle these types of situations and will likely struggle to make them go away. An experienced realtor, however, has likely encountered many similar scenarios before and knows exactly what needs to be done to resolve them quickly and efficiently.
They know how to properly stage a home for sale.
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An experienced Realtor will know the importance of staging your home.
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An experienced Realtor will know the staging process from start to finish, including where to find great deals and how to avoid overspending on unnecessary items.
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An experienced Realtor knows that staging your home is not about cleaning it, but rather about making it look like someone lives there.
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An experienced Realtor can help you determine which items you should leave in place and those that need replacing or removing altogether.
They have experienced hundreds of buying and selling transactions and know what to look out for, plus have the confidence to get things done efficiently!
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Experienced agents know how to get the best price for their clients. They are expert negotiators who can get you a good deal on your new home.
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Experienced agents know how to negotiate the best terms for their clients. They will negotiate a fair listing agreement, find out what upgrades you want in your home and make sure they are included as part of the deal, and tell you what inspections should be done before closing on your new house so that there will be no unexpected surprises after closing day!
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Experienced agents complete a transaction on time with realistic expectations set from the start.
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New real estate agents may have never sold or bought houses before so they don't realize how much work goes into getting everything done by deadline day!
An experienced agent looks out for your interests, not his own, and won't pressure you into making a decision that isn't right for you.
An experienced agent doesn't just want to find you a house, he wants to help you find the right house for you. A rookie has no idea what's important to you and will push you into buying something that isn't ideal, but an experienced agent will work with you and help guide your search so that at the end of the day, your dream home is yours.
This means that an experienced agent won't pressure YOU into making a decision that isn't right for YOU—but neither will they drop their guard on behalf of their clients. They'll be honest about both pros and cons of each property or neighborhood; they won't gloss over any potential issues with a simple "oh well."
A real estate agent's experience hinges on his or her knowledge of the local market. Find out what kind of market information the agent has for your area and how he or she got that information. An experienced agent does research every day because working in real estate isn't a 9 to 5 job -- it's all day, every day!
An experienced real estate agent has to know what they're doing. They have to be able to take on any situation and handle it with ease. They're so good at their job that they barely even think about what they're doing anymore—they just do it! But how can you tell if someone is experienced? The best way is by asking questions and getting them talking about the work that goes into being a real estate agent.
You'll want to find out about their background in the industry, what kind of market information they have for your area and how he or she got that information, how long he or she has been working in real estate (and what kind of properties), where he or she lives/works/plays in relation to your home address, why this particular house fits into his or her professional role and more!
Conclusion
It’s important to remember that there are many different kinds of real estate agents. Some are more experienced than others, and some are better at negotiating than others. But even if you are a rookie in the industry, don’t let yourself feel intimidated by those who have been around longer than they should be! You should always feel comfortable asking questions and seeking advice from your colleagues. Working with other real estate agents doesn't just make for better customer service—it also gives you access to all sorts of insider info about buying or selling houses that might otherwise be too expensive or time-consuming for an inexperienced agent to find out on their own.
If you are a new or even experienced real estate agent who is looking for a team that provides mentorship, professional tools, and direct access to resources, we would love to work with you at Token Realty.
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