Buying a house is often a marathon instead of a sprint, and having an experienced real estate professional on your side is usually a necessity.
For most people, that professional will be a residential real estate agent. But as with any industry, there are specialists in real estate. If you’re buying or selling a property with specific characteristics or needs, hiring a residential agent may not be the best option. If you’re seeking or selling a property with specific qualities or you’re house hunting under a specific set of circumstances, hiring the right Realtor specialist is essential.
Short sales
A short sale is typically a desperation move. It involves selling the home for less than you owe on the mortgage, and it’s usually only done when the owner is trying to avoid foreclosure. The lender receives all of the proceeds from the sale—but they have to approve the short sale before it can go through. As a result, short sales are complex and involve a lot of paperwork. Having a Realtor who knows the ins and outs of dealing with banks and other lenders in this situation is a necessity.
The National Association of Realtors (NAR) offers a Short Sales and Foreclosure Resource (SFR) certification. Real estate pros with this training know how to navigate short sales with lenders, but they also have training in marketing distressed properties as well as the tax and other financial considerations involved.
Elder sales
If you’re over the age of 50, or helping elderly relatives sell their home, you should consider hiring a real estate professional who specializes in senior real estate. There is a long list of special considerations when selling a house at (or near) retirement age, from the emotional impact of leaving a house you’ve lived in for a long time (homeowner “tenure” has been rising, so chances are older owners have been in their home for a long time) to the implications on taxes and estate planning.
If that’s your situation, look for a Realtor who is a certified Seniors Real Estate Specialist (SRES). They’ve been trained in the applicable tax, estate, and property laws. Also as important, they have a clear understanding of the emotional impact of selling a long-term home and shifting into a new era of your life.
Military families
If you’re serving in the military and living in private housing, you know that a Permanent Change of Station order means selling your current home and finding a new one fast. You’re also possibly dealing with financing through the Department of Veterans Affairs (VA). Finding a Realtor with experience handling military relocations means having someone that knows how to move quickly, navigate the VA loan options, and assist with hiring movers and coordinating what can be a chaotic process.
Look for a real estate agent who has a Military Relocation Professional (MRP) certification from the NAR. They’ve been trained in the unique needs of military families making frequent, time-sensitive moves, often across vast distances and with little advance warning, and usually have access to resources that other real estate professionals don’t.
Luxury home
If your house is defined as a “luxury” property (meaning it lists at a high price compared to other homes in the area, has a long list of included amenities, and is finished to a high level of quality compared to other nearby homes, among other factors), there are special considerations involved in marketing and selling it. It can be difficult to identify comparable homes, for example, so valuing and pricing these properties takes knowledge and training. And identifying potential buyers who can afford the place and appreciate its selling points requires someone with the appropriate network.
If you’re looking for or selling a luxury home, look for a Realtor with a Luxury Homes Certification (LHC). These professionals have trained in pricing and marketing high-end properties, as well as negotiation tactics calibrated for the high-value properties involved.
Rural property
Buying a rural property—whether it’s a working or hobby farm or just a sprawling property with acreage—is very different from buying and selling a home in an urban or suburban setting. Detailed knowledge of the property and its potential uses, equipment and structures included in the sale, fencing requirements, and utilities access requires specialized knowledge and experience. And identifying a farm or plot of land to buy, or buyers looking for that type of property, often requires local connections and knowledge.
There’s no specific certification to look for, so contacting local real estate offices and asking about agricultural or rural property experience is a good starting point.
