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Wednesday, January 22, 2014

Now You Can Select Real Estate Agents Based on True Evaluations

[Published Jan. 23, 2014, in the Jeffco editions of the Denver Post's YourHub section and in five Jefferson County weekly newspapers]

I’ve written before about agent evaluations and described how www.RatedAgent.com (where all Golden Real Estate agents are listed) bases its ratings on actual surveys mailed to clients after each closing.  The responses to these surveys produces an overall rating from 0 to 5.  (My rating is 4.7.)

How detailed is the survey?   About a month after closing, clients are sent a different survey depending on whether they are a buyer or a seller.

Here are some of the questions asked of buyers:

1. Did your sales associate provide written/electronic competitive or comparable market analysis prior to you making an offer?

2. How satisfied were you with the counseling and needs assessment provided by your sales associate?

3. How satisfied were you with the thoroughness of the search process to find a property that met your needs?

4. How satisfied were you with the availability of your sales associate?

5. How satisfied were you with your sales associate's knowledge of the area, community, and properties?

6. How satisfied were you with the assistance your sales associate provided in negotiating the price and terms of the purchase?

7. How satisfied were you with the quality and frequency of communication provided by your sales associate?

8. How satisfied were you with your sales associate's attention to details and assistance from contract to closing?

9. What was your overall satisfaction with the results and service provided by your sales associate?

10.  How likely would you be to use the same sales associate to assist you in the future?

11. How likely would you be to use the same real estate company to assist you in the future?

12. How likely are you to recommend the services of your sales associate to a friend, neighbor, or relative?

13. How likely are you to recommend the services of the real estate company to a friend, neighbor, or relative?

14. What was your primary reason for selecting your sales associate?

Here are some of the questions asked of sellers:

1. How long did you expect your property to be on the market before it was sold?

2. How long was your property marketed by your sales associate and broker before you accepted an offer?

3. How satisfied were you with the marketing plan developed and implemented for the sale of your property?

4. How satisfied were you with the price and terms of the sale?

5. How satisfied were you with the assistance your sales associate provided in negotiating the price/terms of sale?

6. What was your primary reason for selecting the sales associate you chose to market your property?

All those questions had multiple-choice answers from which to select. Following them, however, there was an open ended “Comments” field in which clients could say whatever they want to say.  One of my sellers said he thought he should have gotten a higher price for his home. All the others were positive. The point is that they are not edited, and you get a true picture of the agent.  By contrast, the company behind the Five Star Professional program advertised in 5280 Magazine does not reveal who is surveyed, what is asked, or how clients responded.

If your agent doesn’t appear under your city at www.RatedAgent.com, ask him or her to sign up for this service — which is free to Realtors.

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