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Does experience matter?

Is your agent experienced enough to handle your transaction?
The number of people entering a career in real estate between 2020 and 2021 increased by 60% compared to the two years prior, The New York Times reports. From January 2021 to January 2022, the top trending career search entry was “how to become a real estate agent,” according to Google searches.
What does this mean for the average buyer? It means there are a large number of inexperienced agents out there!!!! If you are considering buying or selling, you should talk with agents that offer their service and determine if they have any experience. Taking a course and passing a state test does not mean that a licensed agent is experienced enough to handle your transaction. After licensing, there is a LOT to learn. State contracts, negotiating, inspections, financing, legal issues and much more comes into play when buying or selling a home. It takes most agents at least 3 to 4 years to understand most of the ins and outs needed to complete a transaction (assuming they are able to get involved in a number of transactions). 
Then there is the question of whether or not the agent knows houses and neighborhoods. Anyone can walk through the home with you and point our how pretty the foyer is or how nice the pool looks. You can see that for yourself. But, does your agent have any knowledge of building codes, processes or materials? Do they know the possible issues a home has based on the year it was built? Of course, a good inspector will help to answer those questions - but that is after you have spent hundreds of dollars on the inspection. A good agent can point out the possible issues before the inspection and start a conversation with the seller's agent. Things like a dangerous electrical panel, poly plumbing, aluminum wiring, deteriorating cast iron drain lines, out of date roof, etc. Do they have enough experience to negotiate with the seller when things are not what they should be? 
Experience matters! According to the Florida Association of Realtors, 87% of newly licensed agents fail to renew their license after the initial period of up to 2 years. This means there is constant turn over of failed agents and new agents. 
Bottom line: Ask questions. Determine if your chosen agent is qualified to represent you in the transaction at hand. After all, it's your money at risk when you are making one of the largest investments of your life. 
The Banner Team | IQ Realty
Michael Banner
249 Bellagio Cir
Sanford, FL 32771
Christine DiMatteo
Loan Officer, NMLS# 1327645
249 Bellagio Circle
Sanford, FL 32771, Branch NMLS# 1830868

CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS# 1820 in most, but not all states. CMG Mortgage, Inc. is an equal housing lender. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and www.nmlsconsumeraccess.org.

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mls logo© 2024 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.7/20/2024 11:23 PM CST
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