First and foremost, the greatest real estate agent in the world is not who you may think it is. He or she isn´t the one who sells the most houses in a given year or the one with the best car...not the one who has the highest priced listings...or the one who lives in biggest penthouse in Trump Tower...not the one who knows all of the best closing techniques, or the one who could sell ice to an Eskimo.
The greatest real estate agent in the world is the one who tells the first time home-buyer the truth about the mortgage he is thinking of getting. He´s the one who can tell a Buyer that even though the bank will give them an adjustable rate mortgage to buy the house, he shows them where the payment could go, and explains what happens if he can´t make the payment. He doesn´t tell the buyer that they can always just sell or refinance, because he knows that the market could change and the prices could go down. He knows that just because there are 100% loans today for stated income borrowers with 620 credit scores, that two years from now the loan programs could expire. He knows that sometimes bad things happen to good people and pushing the envelope and borrowing the absolute max has brought many people to ruin.
He´s the one who explains the perils of renovating. The greatest real estate agent in the world is the one who can look at a house and see the flaws that the new buyer might miss. The one who points out the cracks in the foundation or the mold on the floor joists. He is the agent who knows that you can´t necessarily easily add a room in the huge attic of that 1920´s bungalow with 2 X 6 floor joists and 2 X 4 rafters. He´s the one who helps the Buyer not waste $350+ on an inspection of a house that´s going to fail. He´s the one that talks some sense into the 23 year old who thinks he can renovate a house on the weekends on a shoestring budget and live in it at the same time.
The greatest real estate agent in the world understands the pitfalls of owning rental property. He is the one who makes sure that the investor doesn´t have an inflated idea of what a house will rent for. He´s the one who explains honestly what the hidden costs and headaches of owning rental property can be. The greatest real estate agent in the world makes sure that the Buyer is making an educated and informed decision.
The greatest real estate agent in the world isn´t the one who makes the most sales, it´s the one who is willing to do what´s best for the clients, even if that means they have to not buy this year, but to work on bringing up the credit scores and bringing down their debts.
The greatest real estate agent in the world is not desperate to sell every house. He takes his client´s well being seriously and understands his fiduciary responsibility. That´s our definition of the greatest real estate agent in the world.
Carolyn & Lou Mogano ...