An experienced real estate agent can make the process of buying or selling a home less daunting, by connecting you to mortgage lenders and providing information on average home prices in your area, while alerting you of properties which will soon come on the market.
Making filling out paperwork much less of an ordeal, they also provide invaluable advice about pricing and marketing strategies.
Getting Started
Real estate agents tend to have an image of traveling around showing houses to potential buyers and mingling with high profile clients, yet in reality agents come from all backgrounds and work tirelessly at making themselves known in the business. It is imperative for success that buyers or sellers locate an agent suitable to their needs for optimal success in real estate deals.
Start your search for an agent within your own personal network by seeking referrals from family and friends who have previously purchased or sold properties, or reach out to referral agents (those based outside your location who work out-of-state but who can connect you with local agents for a cut of commission).
Once you have collected several names, interview each agent in order to select one who best meets your requirements. Here are a few questions to pose to each candidate:
What’s Your Communication Style? Real estate agents typically communicate with their clients by phone, email and text; some agents prefer one method over the others when speaking to prospective clients; so it is essential to find out how your agent prefers communicating before making your choice.
Do You Have Assistants? Real estate agents typically utilize assistants to manage their client list, so it is essential that you find out how much access to your agent there will be directly, which could have an effect on the quality of service received by each client.
Why did you become a real estate agent? Agents typically pursue careers in real estate because of their enthusiasm and energy that exude from helping others meet their real estate goals. When interviewing candidates for real estate agent positions, ask about their background in real estate as well as why they feel they would be the ideal match for you – good agents should answer these questions confidently while providing insight into pricing trends, opportunities, etc.
Interviewing Agents
When interviewing real estate agents, it’s essential that you come prepared with questions that will allow you to determine if they are suitable. For sellers, this could involve asking how they would market your home to reach potential buyers at the optimal price and ensure you receive top dollar for it; buyers needing guidance may ask if their agent offers that assistance as they navigate what can often be an overwhelming home-buying process.
Start by conducting a phone or video call, which can be more beneficial for both parties involved. This allows you to quickly eliminate any agents who don’t suit before spending any more time meeting in person and allows you to ask pertinent questions that pertain specifically to your unique circumstances, like their knowledge of local real estate market trends or experience selling similar homes in their portfolio.
As you narrow down the field of potential agents, it’s essential that you check what kind of schedule each agent maintains. For instance, if you want to sell quickly through an open house strategy and need someone available after work or on weekends to show your property off to prospective buyers.
Another key consideration when it comes to selecting an agent is how they charge for their services. Most agents work on commission, which typically comes out of your pocket as the seller, covering services like getting your home ready for sale, marketing it to potential buyers, negotiating the sale with third parties and more. Commission can vary between agents so it’s essential that you understand any fees upfront that might apply.
Before hiring an agent, be sure to inquire how they will collaborate with you during the transaction process. Some agents may represent both buyers and sellers simultaneously in one transaction while others only represent one side or the other. Be sure that when choosing an agent that they work effectively together to create an enjoyable transaction experience that ensures success for everyone involved in it.
Checking Their License
When real estate agents prominently display the word “Realtor” on their business cards, it signifies more than mere vanity. Membership in the National Association of Realtors (NAR), upholding an ethical code and providing exceptional customer experiences are all hallmarks of professionalism that deserve special recognition.
Becoming a Realtor involves first becoming licensed as a real estate agent. To achieve this status, an individual must first complete pre-licensing coursework and pass a state exam following at least 100 hours of education. After becoming licensed, real estate agents can then work with buyers and sellers throughout their purchase/sale process by showing properties, negotiating prices, coordinating inspections/appraisals and managing complex legal paperwork and compliance requirements.
Real estate agents who wish to become brokers require additional education and training. Brokers usually own their own real estate firms or brokerage franchises, with agents working under them. Brokers also possess the power to negotiate directly with sellers and buyers; although in most states this requires being under the guidance of an authorized broker.
Real estate agents must attend ongoing continuing education courses and industry seminars to keep up with changes to laws and regulations affecting their marketplace, while upholding a Code of Conduct designed to put their client’s interests first while upholding integrity throughout each transaction.
Before agreeing to work with an agent, it’s wise to check their record on your state’s real estate licensing website for any disciplinary actions taken against them. This will enable you to establish whether they possess valid licensing status as well as whether there have been any complaints or actions brought against them for violations of state real estate law. Furthermore, membership in NAR or any other professional organizations could provide further insight.
Doing Your Research
Finding the ideal real estate agent when selling your home can ensure it is priced properly and attracts potential buyers. An experienced agent can assist in finding comparable homes in your neighborhood, provide market information on current trends, as well as help determine a fair asking price. Furthermore, they’ll give insight into local market details such as length of listing period or previous sale prices of similar properties in their vicinity.
When purchasing real estate, an experienced agent can help you find your ideal home and guide the entire process, from searching to signing the dotted line. They can provide guidance regarding mortgage and financing options as well as negotiate on your behalf to avoid costly mistakes.
Buyers and sellers should both take the time to research prospective agents carefully, using online searches, referrals from friends, family and coworkers and checking reviews on sites like Yelp, Google or Facebook which include customer feedback for local business listings. When considering prospective agents ask for references from past clients who can vouch for their work ethic, communication skills and professionalism – including asking prospective agents themselves for references from satisfied clients who will vouch for them as well.
One important question you can pose to prospective real estate agents is their transaction volume in a given year. While this won’t give an exact estimation of when or how quickly they’ll complete a home transaction for you, it gives an indication of their experience level and whether they can manage complex transactions effectively.
Find an agent with expertise in the type of property you’re trying to buy or sell – this can make all the difference in connecting you with potential buyers or sellers.
Before selecting an agent to represent your interests exclusively or as part of a dual agency (who represents both parties involved in a transaction), it’s essential that you ask whether their relationship with their brokerage could influence how well they represent your best interests.
Hiring a real estate agent is a significant decision that can have lasting ramifications on both your personal and financial wellbeing. Doing research and interviewing candidates will ensure you select someone suitable to represent you during what can often be an involved and stressful transaction process.