Regardless of the real estate company, you will find agents of varying skill levels. Some agents view their work as a job while others are real enterprising people looking for the next opportunity. The most important thing when choosing a real estate agent is to ask questions and pay attention to the answers provided. The process of choosing should not be rushed in that you want someone you know is working for you, helping to get you the most money for the purchase or sell of your home while keeping expenses to a minimum.
One example of what you should consider when hiring a real estate agent is the amount of commission charged. Currently, the average commission is 6 but some agents will offer less, depending on the situation. Never be afraid to ask for less than 6 but respect if they disagree. You want to be honest about what you want from the experience, which might include a lower commission rate.
Remember, when creating a contract with the agent, you want everything to have a positive spin on it for you. We recommend that when an agreement is made with an agent, a timeframe be included after which you would have the right to review the situation and then stay with the agent or choose someone different. Many people work on a four week schedule, which could be negotiated. Unfortunately, it is common for a first time homebuyer to lock into a long term contract simply because they were unaware they had a say.
Often, the real estate agent would put an offer on the table but you are not obligated to accept the first thing. A mistake made by many homebuyers is they forget that the agent is working for them, the customer. Therefore, strive to get a renewable contract with the four week period so your satisfaction with the agent’s work could be appraised. If you like what the agent is doing, then the contract would be renewed for another four weeks but if not, you could discuss issues and stay with the agent after corrections have been made, or if you prefer, choose a new agent.
Although most real estate agents are honest, hard working professionals, some are simply searching for prospective buyers and then offering some type of fast scheme. While a qualified agent would know the right moves to sell or close the deal quickly and for the most amount of money, any offer of moving things along extra fast for money should raise a red flag. You as the customer have the right to know exactly the things for which your money is paying.
Legal fees are also associated with real estate, for both buying and selling. Typically, the real estate agent would provide recommendations but you could talk to a number of advisors on your own, looking for someone qualified but also affordable. Often, an agent will try to get the buyer or seller to use the advisor associated with their company but you are not under any obligation to do so. Regardless, you want a professional, someone that you would have access to if needed.
Without, the process of buying and/or selling a home can be highly stressful. To make things easier, make sure the legal advisor is competent in real estate. In addition, the internet offers a wealth of information regarding legal requirements for real estate so you could do all your own research. Keep in mind, unless you are somewhat knowledgeable of real estate, it would be worth having a professional assist.
You will also need the assistance of a mortgage lender. Again, a good real estate agent could provide several possibilities, knowing from experience which ones have the most versatile loans and lowest interest rates. Getting information and quotes from an independent lender, which could be a broker, bank, credit union, or some other type of lender, is advisable. Along with recommendations provided by your agent, you can also talk to lenders on your own. After all, the goal is finding a lender that will help you buy your new home.
Your real estate agent should be available to show your home if selling or take you to see homes if buying. When selling, you can be home but you want to stay out of the area where the agent and buyer are located, specifically when the home is being shown to that buyer the first time. If the potential buyer comes back for a second viewing, you could meet with that person, providing additional information and actually building a relationship that could help make the process smoother.
Remember, buyers want privacy so they have the opportunity to walk through a home and open doors and cabinets without the owner watching. Being able to move about freely with the real estate agent allows the buyer to ask honest questions and envision their furniture and family in the home. During the tour, your agent would know to point out features and upgrades of the home but also point out negative aspects but in a positive light.
As a part of choosing the right real estate agent, you need to investigate him or her too. Take time to research the company the agent works for, look at information for current listings being managed, and look at MLS listings on the internet of homes being sold. You also want to pay attention to the descriptions used for property. Wording should be concise, spelled correctly, and written to make the home appealing to buyers.
Finally, before you start looking for a real estate agent, remind yourself that you are the customer. The real estate agent you choose will be making thousands of dollars for handling your property purchase or sale so you need someone that is dedicated and willing to work hard to make positive things happen. As a part of his or her job, you should be contacted regularly but you also have the right to ask for a status report.
In today’s economy and real estate market, the real estate agent you hire needs to maximize buying or selling potential. This person’s job is to walk you through the process, provide recommendations, answer questions, and make the outcome positive.
Author Resource:
Allison Clarke, Freelance Writer. We are committed to providing free helpful information about the real estate market. For more information regarding house buying companies both in the US and UK visit http://www.sellhousefast.co.uk/ Allison Clarke is a real estate investor based in Boston. He is a former estate agent and writes widely about issues related to real estate and finance. He is an expert in establishing online house buying companies both in the US and UK.
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