Buyer must take steps to find ideal RealtorResale Homes Report

Q: I have lived in Southern Highlands in the same home for over the past six years, and would like to place my home up for sale in order to move near my grown children in Orlando. I would like to know the very top sales persons, perhaps three, whom I could contact in getting my home listed.

-- Joan, Las Vegas

A: I'm happy to share some information that I think will help you. However, as president of the Greater Las Vegas Association of Realtors, I can only tell you how to go about finding the right Realtor for you.

First, I think you're wise to consider at least three Realtors.

Finding the right Realtor requires some homework. You are, after all, hiring a professional handling one of your valuable assets.

You would be wise to seek referrals, especially from friends, family members or co-workers who have recently purchased a home. Ask people you trust about the person or company they used to help them sell a home. Ask if they would use that person again.

You can also call the managers of reputable real estate firms and ask them to recommend Realtors who have experience working in your neighborhood. You should also expect to review a comparative market analysis, which includes recent home sale prices in your area and for homes similar to yours.

Once you have identified a few different agents, interview each of them. Not only is it important to make sure that you find someone with the appropriate experience and knowledge, but also make sure they have the time to commit to you.

You're hiring someone to do a job for you. Marketing, pricing and showing your property to prospective buyers is important, of course. But you should also seek protection and guidance. You want an experienced and ethical professional looking out for you. Also be sure and discuss compensation and representation.

For homes that are listed in the Multiple Listing Service through the GLVAR, the buyer's agent is usually compensated by virtue of an agreement between their company and the listing agent's company.

If a home is not listed in the Multiple Listing Service, then compensation needs to be determined. Some or all of the compensation may come from the seller's proceeds, and some or all may come from the buyer. In any case, commissions are negotiable and should be spelled out in a written agreement.

Here are some tips on what to inquire about when interviewing agents:

What is their level of experience?

Are they a Realtor (someone with the additional education, experience and ethical standards required to be an active member of the GLVAR), or simply an agent with a real estate license?

What is their plan for marketing and selling your home?

How will they get compensated and what commission are they proposing?

How will they handle the process of touring potential buyers through your home?

When will your listing agreement for the property expire?

Patty Kelley is the president of the Greater Las Vegas Association of Realtors and has worked in the real estate industry for more than 30 years. GLVAR has nearly 15,000 members. To ask Kelley a question, e-mail her at ask@glvar.org. For more information, visit lasvegasrealtor.com.