There are differing levels of experience and requirements. First time buyers need a lot more hand-holding. Investors want lots of data. Most want transactional help, lots of interpretation of documents and help with decisions.
In a vacation or resort home market, buyers need even more support. It doesn’t matter what their experience level when they have no direct life experience in the market area. As I had a brokerage in a mountain ski area, I have a lot of experience in this respect. Homes were expensive, and my buyers professionals and business owners with plenty of experience. But, when they were buying in a mountain rural area with complicated septic system and other regulations, they understood that my expertise was important.
If your’re representing buyers in other specialized areas or property types, they will tend to rely more on your expertise and local market knowledge.
Even when it comes to condominiums, the condo rules and financial particulars are extremely important. I found that I talked more buyers out of buying a ski condo in the ski area proper than the other way around.
It’s also true that sellers are less likely to be overly reliant on their agents for help in the process. They want marketing, but know that the Internet has changed the game.
They are more likely these days to want to negotiate commissions and to go with the lower cost with roughly equal marketing options. This is less true at higher end property prices, but still a consideration when you’re quoting a full service commission.
From most important down, here are the to skills and qualities of real estate agents that actual home buyers and sellers said they valued.
- Honesty and integrity
- Knowledge of purchase process
- Knowledge of real estate market
- Communication skills
- Negotiation skills