Buying a home can be a long and arduous process. Having a real estate agent who has your back helps make the process much more sane that it would be if you went it alone. With that said, not all buyer’s agents are the same. Realtor’s have a wide range of experience and skills. Consider your needs as you look at these three types of buyers agents. Which is best for you in Los Angeles depends on your personal situation and experience.
The Veteran Agent
An agent with years of experience in your Los Angeles is a veteran agent. Don’t just a book by its cover though. Just because someone might have a little gray in the hair doesn’ t automatically make them a veteran. Many real estate agents come from long and successful careers in other areas. Ask your realtor how long they’ve been selling real estate.
The benefits of a veteran are they have the experience to know what is typically in a home sale in your area. They have seen it all when it comes to negotiations, inspections and up and down markets. They also have a contact network of trusted referrals to help in every step of the purchase process and after while you get settled in. Need a good handyman to mount that flat screen. No problem. Veteran agents have all this and more.
While veteran agents have a lot to offer, be sure to have a long discussion with them about your goals and the process. Veterans tend to do less hand-holding for clients because they are confident in the outcomes. You may not be and might need a bit of hand-holding through the transaction. Consider this before choosing a veteran agent.
The Rookie Agent
The rookie agent is new and has a lot to prove and probably needs to make some money sooner than later. While being a realtor is a lucrative industry to be in, it does take time to get established and get your first sales in the books. Consistency takes longer. This can be a buyer’s advantage. The rookie agent is hungry to get the deal done no matter what.
The result is the rookie agent will work harder, pound the pavement longer and work the transaction through completion to ensure you are happy and seal the deal. This energy is apparent in the search process, helping you look under every rock to find the perfect home for you in your price range. He is always calling with something new or a potential idea on how to accomplish your goals.
This is great for the buyer but lack of experience can be detrimental to the rookie agent. Buyers should make sure that rookie agents have a good mentor they trust with the experience to make sure negotiation tactics aren’t over the top and how to get through tricky escrows.
The Shark Vs The Charmer
These are actually two opposing personality types for agents thus really a three and four in our analysis. Both a veteran and a rookie can be a shark or a charmer. This has more to do with personality and negotiation tactics that it does with experience.
A shark goes after a deal fast and hard. Depending on the situation, the shark alters tactics to get you in the home. This means in a slow market, the shark will lowball offers and create highly favorable terms for you because buyers don’t have a lot of options in a slow market. In a hot market, the shark will try to convince you to bid over asking price since there will likely be multiple offers. The shark is a great negotiator during escrow and also aggressively goes after credits and discounts based on inspection findings. The shark can put sellers and their agents off with such strong tactics.
The charmer, on the other hand, becomes very friendly with everyone involved and tries to gain favor through relationships. The charmer relays your story and passion for a home to the seller, hoping the seller has emotional ties to the home. The great thing about a charmer is they don’t antagonize anyone while going after the best deal for you. However, they can be guilty of not listening to the whole situation and ask you to compromise more than you really want to get the deal done.