This article is part of a series of real estate tips from Brooklyn broker Gabriele Sewtz of Compass, a specialist in the Brooklyn family market.

How to Find a Real Estate Agent

If you’re about to buy or sell your first place in Brooklyn, the thought of where to start can be enough to induce a mild panic attack. You know that a good real estate agent should be able to help you navigate the process… but how do you know if a real estate agent is right for your needs?

Take a breath. It’s going to be OK.

We asked Gabriele Sewtz, a top agent with Compass, how she would go about finding and hiring an agent, based on her inside knowledge of the industry. Here are her recommendations:

Define your goals
Whether you plan to buy or sell it is important to know what would constitute a successful sale or purchase for you.

Ask yourself what sort of neighborhood would fit your lifestyle. When do you want (or need) to move? Do you need to sell first before you can buy another property? How much do you plan to net if you’re selling your property? What are the maximum purchase price and monthly carrying costs you would be comfortable with? For how long could you carry two properties simultaneously?

Gabriele Sewtz
Gabriele Sewtz of Compass at work. Photo by Brake the Rules.

Research real estate brokers and companies
If you live in New York, chances are you already know a real estate agent from within your own social circle. If not, neighbors, friends, and family members are always happy to refer their real estate agent. Or you could just go to someone who works for an established name brand. But is that person the right real estate agent for you?

If only there was Angies list for real estate agents! Although aggregator websites like StreetEasy, Zillow and Trulia try to make the decision process easier for the consumer, it’s a well-known secret that the recommended building or neighborhood experts popping up on their websites are actually paid advertisements by real estate agents trying to gain more business without necessarily having the track record.

A good starting point for your research are websites of trade publications like The Real Deal or trade organizations like the Real Estate Board of New York. In today’s market, technology and market reach are key, so jot down any information about which real estate brokerages show a competitive edge over another.

The most efficient way to research specific real estate agents is to go to brokerage websites and StreetEasy to search for similar properties in neighborhoods where you’re planning to buy or sell. Make sure to include listings in contract and sold properties as well, and then analyze the track records of the agents. Ask yourself these questions:

  • How many buy side vs list side transactions?
  • How long on average does it take the agent to sell a property?
  • What is the listing discount (the percentage of the purchase price above or below the asking price)?

And yes, Google the names of your top agent choices to find out more about their business. Insights from past customers and clients can also help you learn more about an agent and give you a greater comfort level. If Yelp does not come to the rescue — and let’s face it, rating humans on a standardized scale comes with its challenges — you may want to consult testimonials or reviews on local, independent sites like Park Slope Parents.

Interview your top choices
If you’re a seller, try to meet real estate agents first out in their working environment, rather than in their offices or your home. Make it a priority to go to two or three open houses hosted by the agents you are considering interviewing. Not that you’ll want to quiz them on the spot, but first impressions matter and you will instantly figure out how likable and professional an agent is before they become the person who will be showing your property to potential buyers.

Once you’ve narrowed your list down, reach out to your top candidates and set up an interview in your home to make sure your broker truly understands your property.

Or, if you’re a buyer, chances are you have met a variety of agents at open houses you are visiting, so compare your research notes and interview your top choices.

Here is a list of questions buyers and sellers might want to ask:

  • What is your professional background? (This question rarely comes up during interviews but definitely worth asking.)
  • How many years have you been a real estate broker?
  • How many transactions have you closed so far in your career?
  • Are you a home owner yourself?
  • What percentage of your clients are buyers vs. sellers?
  • In which neighborhoods do you primarily work? What property types do you primarily sell?
  • How many other buyers or sellers are you representing now? (The busiest agents often are the most efficient.)
  • Will I be working with you directly or handed off to someone else?
  • How many direct transactions where no other broker was involved did you have in the last 12 months? (A high number of direct transactions could be a red flag since 90% of all transactions are co-broked in the NYC market place to achieve maximum exposure and hence price.)

Also, if you are a seller it is OK to ask up front if his or her commission is negotiable. Don’t delay asking that question until the last minute, because top brokers are less likely to negotiate than other agents who may say yes to anything just to get your listing.

The Hiring Decision
Time to sign on the dotted line!

As tempting as it might be to hire the agent who quoted the highest sales price, or offered the lowest commission (if you’re selling), or promised you to get you the best deal in town (if you’re buying), take a second look at your original goals.

Buying or selling a home is considered to be one of the most stressful experiences in life, and it’s essential to hire the real estate agent who will be the best at overseeing and managing all aspects of your real estate transaction in today’s fast-paced, ever-evolving real estate market.


What's Your Take? Leave a Comment