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Wouldn't it be great to log on to the Web and search for "best real estate agent in town" and actually get an answer that you could believe?

If you tried that today, you would probably end up with almost every real estate agent's web site as "Number 1" or "Best" or "Top Producer", accolades so commonly used in the industry they have little meaning to consumers today.

Whether you are buying or selling, a bad real estate agent can cost you money. Here are some of the ways they can wreak havoc with your pocket book:

1. Not telling you about every possible home suitable for you when home shopping.

   Don't you want to know that if you are considering a possible home purchase that there may be a better, comparably priced home two blocks away? If you are not using a Buyer's Agent, who must tell you about that other property, you will have to do your own "validation". Seller's agents work to promote their own listings, their company listings, and, if they don't have any fiduciary obligations to you, they may even select a home that has a higher fee for them in the transaction.

2. Not putting your home in the Multiple Listing Service (MLS) as soon as the listing is taken.

   Whenever a real estate agent tells you that there will be a delay in putting your home in the MLS, you have to ask yourself, "How could that possibly benefit me, the seller?" Unless the agent has offered you a discounted fee for selling the home on their own, it is most likely that the "double dip", as it is referred to in the business, lines the agent's pocket and not the home sellers. Smart home sellers will demand to see the listing sheet within 24 hours of listing; it makes good risk management sense, too. You can check to make sure your home is represented accurately on the MLS and you can take comfort in knowing that your home has been given the broadest marketing exposure possible. This is particularly true when the MLS services cooperates with the national homes listing website at www.realtor.com where people from all over the world can see your home listing -- don't let their desire to delay cost you money in the form of multiple or higher than asking price offers.

3. Not telling you to get preapproved by a mortgage company before you actually start searching for a home.

   The current number of hot markets in the country have convinced most buyers today to have a mortgage commitment in place or risk the chance of losing out to better prepared buyers. The real estate agent that tells you that you can find a house first and then go through the mortgage application process is not doing you any favors. By checking in advance, you can create a comfort level about the amount you want to borrow and even make sure your credit report is accurate and up to date, preventing any last minute need for getting letters to the credit bureau fixing mistakes (an all too common problem these days).

4. Not being brutally honest about how to get your home ready for the market.

   The timid agent who is uncomfortable telling the home seller about the characteristics of homes that "show well" and get sold quickly does a tremendous disservice. It isn't easy to advise homeowners that it would be better to put away all those family photos and collections. If the agent isn't comfortable telling home sellers about the critical nature of getting rid of the clutter and cleaning the house until it is spotless, the seller can lose money. If the seller cannot do the cleaning adequately, the agent should suggest several good cleaning services to help out.

5. Not listening to your feedback about what you want in a home.

   Is there anything as aggravating as being explicit with agents about your 'wants and needs' and having them totally ignore what you told them and make appointments to see homes that don't fit your criteria? This is a waste of everyone's time. Some agents feel that 'buyers are liars' and even though you said you didn't want a ranch style home, you would change your mind when you saw the one they booked for a showing. And, while it is true that buyers should be open to alternatives in a tight housing market, when an agent wants you to see a home that doesn't match your criteria, he/she should be willing to preview it and give you a fully detailed description and reasons for considering it.

6. Not protecting your private information when telling other agents about your home for sale.

   An open, talkative agent is definitely a plus when you put your home on the market but what about the kind of person that just always has to add the little extra...the one who says "Well, off the record..... blah,blah,blah." They actually think that the extra information is helpful to the sale but if it is about your impending divorce or relocation for that new job offer, the agent just violated your privacy. That comment made hush-hush just cost you money. The same is true when buying but, again, if the agent is a seller's agent, your finances or desperate need for a home is fair game... get a Buyer's Agent if you want someone to keep your secrets.

7. Steering you toward a home inspector who doesn't conduct thorough home inspections and put the buyer's interests first.

   Some home inspectors brag about not being 'deal killers' and think that their customers are the real estate agents they do business with over and over again, not home buyers. This kind of thinking is dangerous to home buyers and can cost them money-- big money-- if there are serious problems with a home that the inspector has pooh-poohed to placate a real estate agent. Home buyers need inspectors who will report factual information about a home even if it could kill a deal if the home buyer is not willing to accept the condition of the home. Good home inspectors know they work for home buyers, who write the check for services, and take the time to educate home buyers about the care and maintenance of a home and report defects factually, not in an alarmist fashion, unless it is a serious safety issue that needs immediate attention to protect the current homeowners from harm.

8. Not working well with the other brokers in the area and not cooperating on showings and fees.

   Real estate is a cooperative field and requires agents to share information to get the word out about your home for sale. Pick an agent who is respected in the community, behaves ethically, and works well with others. Bad attitudes hurt your chances in the sale of a home. If your agent thinks he is better than the rest of the lot and other agents have to beg to get a call answered or an appointment to see your home, you could lose out on a sale. Ironically, some of the busiest agents in a marketplace can also be the most responsive and courteous so being busy doesn't always mean a delay in communications.

   Agents will always have to deal with other agents whose behavior they may detest but their opinion should not influence any buyer's chances of seeing the home. Grace under pressure is a quality that is desirable in this field because of the high-pressure nature of real estate sales. Agents who dictate what fees to offer other agents who bring buyers to your home should be questioned. You need to know what is happening in your marketplace and what reason, if any, an agent may have for offering different rates of compensation or no compensation to particular agents or groups of agents.

9. Telling home buyers and sellers to "relax, trust me" without spending the time to educate them and telling them the truth at every juncture.

   Some real estate agents are control freaks and think that by sparing their customers and clients of some of the bothersome details of buying or selling a home, they are doing them a favor. But when real estate agents think it is in your best interest to not be advised about important information, they are probably breaching some of their duties to you and their actions could cost you money. It is not unusual to hear real estate agents talk about 'my buyers' and 'my sellers' and in the context of how you are supposed to behave. Sometimes agents are so familiar with the workings of real estate that they gloss over the meaning of some of the actions to be taken. Make sure the agent you work with appreciates your role and wants you to understand all of the steps you take together to accomplish your goals.

A GREAT agent will

1. expose you to every available property that meets your requirements
2. immediately post your property to the MLS and notify other brokers
3. make sure you arrange financing BEFORE you find the perfect new home
4. tell you how best to prepare your home for sale
5. listen!
6. maintain your confidential information
7. help you find a thorough home inspector
8. cooperate graciously and effectively with other agents
9. keep in touch regularly to advise and inform you and follow your instructions

Pat Rioux

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