GM and Real Estate Agents

Yesterday the unthinkable (at least to some mids) happened with the bankruptcy of General Motors. Frankly, my personal opinion is that this is what should have been allowed to happen months ago. But it's here now for the good or the bad, and we will just have to watch and see how it unfolds.
I was somewhat amused when Fritz Hendersen, the "new" GM CEO, told the news conference that the "New GM" (they used that term so often to maximize the distance between the old GM of yesterday (literally) and the new company they hope will rise from the ashes of bankruptcy court) would not be the same company that disappointed customers in the past. The company that sometimes would have 15 new-car introductions a year and hoped five would be hits, the rest they would be satisfied if they turned out "okay". The company that disappointed (and broke) shareholders. (Shares of GM were still traded today on the NYSE as collectors wanted the certificates to hang on their walls!) The company whose quality drove buyers out of showrooms in years past.
Gee, what did the workers of the old (or the new) GM think when they heard those words? Thanks so much for the vote of confidence in their efforts and performance. Just what will the management of the new GM do that will be so significantly different that financial success will occur?
And that's the same question that you as a real estate buyer, seller or investor should be asking your agent. What will your agent do that will be so significantly different that you will reach your real estate investment goals? Which leads me to a series of thoughts I bring to all my open houses.
There are many keys to finding the right real estate agent but here are four important ones that your agent MUST possess:
1) In-Depth Knowledge of the Area. A good agent has broad knowledge of area issues, future development plans, schools, community resources and neighborhoods. Agents who live, work and participate in their community possess the necessary up-to-date information you need to locate the neighborhood that best matches your needs and avoid situations that could cost you thousands of dollars at re-sale. When selling, good agents know how to best promote local attributes to maximize the price you receive for your property.
2) Real Estate Experience and Savvy. Your agent should have extensive, detailed knowledge of, and experience in, real estate practice. In particular, your agent's knowledge of the purchase contract that you will sign when buying or selling is critical to protecting your financial interests. He or she should also possess strong negotiating skills that maximize your bargaining position. Not all agents are REALTORS. REALTORS adhere to a code of ethics and usually possess additional training and course-work in real estate practice.
3) Wide Network of Lenders and Vendors. Your agent should be able to connect you with key people in many important areas including property inspection, title insurance, city and county regulations and processes, repairs, building contractors and mortgage financing. A good agent should personally know and have experience dealing with these vendors and should be able to recommend several qualified professionals in each category for your consideration.
4) The Real Estate Company. Good intentions are not always sufficient to keep a potential transaction from falling apart. Sometimes there are legal as well as financial ramifications that must be addressed. Te real estate company that employs your agent may be able to advise or mitigate some of these issues saving you frustration and money. Your agent's skills and professionalism partially reflect the emphasis the brokerage places on continuing education, legal updates, professional certifications and ethics.
Whether you are buying or selling, you and your property deserve the best agent you can find. Check agents out, ask for references and past successes with your type of property. It's nice that your third cousin's sister's boyfriend is a real estate agent. But let's face facts. Your real estate transaction is a business transaction. Your money and your happiness depend on how successful your agent meets your needs. Why settle for anything but the best?