What to look for in real estate agents

  • Published on
    08-Aug-2015

  • View
    79

  • Download
    0

Transcript

1. What To Look For In Real Estate Agents Buying or selling a home is not easy. You require an experienced realtor who knows his job in anout. An experienced realtor will assess your home, provide suggestions to make your home saleable andeven promote your house in every way possible to make sure that it sells. As a consumer, you have toknow everything possible about hiring a realtor and you should hire a person who knows how to sell andhow to negotiate while keeping your interests in mind. To help you out, weve listed a few tips that youcan follow to make sure that you have the best real estate agent for your particular needs.Reputation of the agent Most real estate agencies will advertise their services on the internet and through other mediaoutlets. Dont be swayed by advertising. Its not the reputation of the agency that is important but theactual services offered by the agent in charge of your account. The agency should be enrolled with localreal estate organizations and with professional agencies and should be in good standing with them.Individual agents should also be registered with state licensing boards and with local associations. Itdoes not really matter if you sign up with an agency or an individual agent as long as you get the bestdeal. Check with the local BBB or the state board to find out whether the realtor has any complaintspending against him. You can also Google the reputation of the agent online. There will be severalreviews that are listed and you will find good as well as bad reviews. Read through all of them but makea decision based on your own judgment. If you find it difficult to trust new agents, ask your friends andfamily members for references and you will be able find reputable agencies.Experience and commitment Realtors should have experience in dealing with a large range of customers. The real estatemarket has a high turnover rate as houses have to be listed and sold quickly to ensure the highestprofits. Experience is necessary to match the right customer with the right house and commitment isnecessary to ensure that the agent is selling the house in the right price range and not just to gain hispercentage. For this reason, its necessary for you to find and interview as many agents as possiblebefore you pick a single agent.Know the locality and the homes in the areaMost buyers already know the area or city that they want to buy a home in but they will need anexperienced real estate who knows the area well. For example, if you are planning on buying a home inOakville, you will need experienced Oakville real estate agents who will show you Oakville homes forsale that are in your budget range. You might be looking for a home that costs about $100,000 butwhich is close to schools and interstate so that you can travel. The Oakville agent should be able topinpoint several homes in different suburbs that suit your budget and your requirements. This will saveyour time and help you to pinpoint a home quickly for purchase. Of course, you can also do most of thesearching yourself by sifting through internet listings. We do recommend that you help your real estateagent out by showing them the kind of houses that you are looking for. A visual image is much better 2. than a verbal description and showing your realtor a home that you like means that they can quickly findhomes that are similar in appearance and budget for you.Payment, contracts and fees A good agent should be on your side during negotiations and he should be able to get the bestrate for you. There are usually different types of agents that may work for you the buyer or they maywork for the seller. In each case, the loyalty of the agent will vary and in some cases, they might try tokeep their interests foremost to get the highest percentage of the deal. As a result, make sure that youfind a reliable agent who deals ethically. Decide the percentage of the agent beforehand and ensurethat the percentage is listed in the contract of sale. The seller usually pays the commission and it isusually limited to about 1 - 2% of the total deal price. However, times have changed. Agents may chargethe seller and the buyer and rates may vary from 1% to as much as 2.98% depending on several factors.