5 Steps For Finding A Real Estate Agent
So you’ve decided to purchase a home. Great! But how do you choose a real estate agent when half of the people you met at the previous networking event were in the industry? They’re all over the place!
You simply need to take some time and conduct some research, like with most decisions.
What is the mechanism behind it?
In real estate, the seller normally has an agent to assist them with the houses for sale xpu ha, while the buyer has a different agency to assist them with the purchase.
Buyers agents will scour the Multiple Listing Services (MLS) for properties that fit your requirements. They’ll schedule showings, put you in touch with associated businesses like home inspectors, assist you with negotiations and offer writing, and hold your hand as much as you need during the process.
Real estate agents are paid a part of the sale price as a commission. This is true for both the buyer’s agent and the seller’s agent. Between 4 and 7% of the total is frequently shared between the two agents. That means that the average home sale, which is roughly $300,000, will pay each agent around $9,000.
Many buyers are unaware of how much their agent will make. Given the value of your agent’s services, it makes sense to invest time in finding someone who can help you find exactly what you want at the best price.
There are hundreds of real estate agents to select from, and if you choose one who isn’t knowledgeable, you risk missing out on your dream property or overpaying for it.
Complete your homework
Determine exactly what you want in your new house and where you want to be located before picking which real estate agents to interview.
Spend some time looking up reviews of the agencies or agents you’re interested in working with on Google or Yelp.
You can expect to hear that everyone has an aunt, cousin, or friend who is a Realtor when you tell them you’re buying a house.
While a personal reference is always a plus, being a decent relative isn’t a suitable bar to meet when it comes to being a competent agent. Look for recommendations from agents with whom they’ve previously worked.
Use caution when enlisting the help of close friends as an agent; if problems develop, it may be more difficult to resolve them when you’re also acquainted on a personal level. Maintain the same high expectations for them as you would for any other agent. (This professionalism is reciprocal.) Don’t expect a significant discount from your pals when you go in. This is how they support themselves.)
What are some good questions to ask potential real estate agents?
So, how do you filter down the options and pick the best one? The goal is to ask each candidate the proper questions.
- How many additional buyers do you have on your books right now?
- How do you go about finding new properties?
- What are your procedures for dealing with multiple offers?
- Can you provide references from buyers with whom you’ve previously worked?
- Is your buyer’s broker agreement exclusive or non-exclusive, and what is included in it?
- If I am dissatisfied with your representation, what form of guarantee do you provide?
- Are you a paid affiliate or do you work with other vendors such as mortgage brokers, mortgage insurance firms, or title agencies?
- How much do you charge as a percentage?
- Will I be working entirely with you, or will I be mostly working with an assistant?
- Do you work as a real estate agent part-time or full-time?
- What are your contact hours and preferred ways of communication?
- Is your license in good standing, and have you ever been the subject of a complaint?
- How long have you worked as a real estate agent, and what kind of continuing education do you take each year?
- How many short-sale or foreclosure deals have you completed?
- Do you ever act as a middleman between a buyer and a seller?
Because not all of them will apply to your case, concentrate on the ones that make sense and provide you with the knowledge you require.
Don’t rush into a transaction with the first real estate agent you encounter when you decide it’s time to buy a home. Take the time to thoroughly investigate them. Putting in the time up front will pay off throughout the home-buying process.