There are all sorts of things real estate agents need to know to do their job competently, and surely not all agents are created equally. There are agents who've been in the business for a couple of decades who are highly specialized and may not know how to handle certain transactions, or help the seller get the best deal if they are typically what is known as a buyer's agent.
If you own a business property, do not be surprised if an agent who specializes in selling new homes or condos, stalls as they learn what to do. Yes, everyone has to learn sometime, but remember whose dime the agent will be cutting their teeth on and getting experience on. Now then, there is basic knowledge that all agents have to know, as well as ongoing education to both keep their license and get a license to sell property in the first place, but do not be mislead, competence and experience in the business does not come from a government sponsored testing program.
Although the real estate license tests are difficult, just about anyone who puts in some serious time and effort studying and understanding the questions and the expected answer can pass, and if not on their first try they can try again. You must remember that the types of things the government is most concerned about is their own paperwork and protecting consumers both home buyers and sellers from fraud. Also they want agents watching out for money laundering and other things. There is a large section related to ethics, and taxes, and that's a clue as to where the government is coming from.
That's understandable, however consider if you will that you've hired a buying agent to find you the best property which fits your parameters at the lowest price, or you've listed your home with a selling agent who will advise you on getting the most for your property, well, that's a whole different skill set than answering multiple choice government sponsored test questions you see.
Look, here is the deal, there are some terrific real property professionals out there, those who have decades of experience and see challenges or problems coming a mile away, and have everything under control, and then there is the other 80%, get yourself a top agent, find the best REALTOR and you are well on your way to maximizing your real estate transactions to your advantage. Please consider all this and think on it.
Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes writing 23,500 articles by mid-day on June 23, 2011 is going to be difficult because all the letters on his keyboard are now worn off..
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