When youre looking to buy or sell a home, step one is finding a real estate agent on whom you can depend. The question is, how exactly do you find this amazing individual? The best agents arent necessarily those at big brokerage firms, nor those who sell the most houses. Rather, the kind of agent you want is one who is working for YOU and thinking of your needs first. Additionally, your agent should know the market in which youre planning to buy or sell.
Agent or Realtor?
One thing that may be a little confusing is that a broker is not the same thing as a Realtor. An agent can sell homes, but Realtors are part of a National Association that has a specific code of ethics. Realtors comprise less than half of all real estate agents.
Finding a Good Fit:
When you interview potential agents there are lots of good questions you should be asking. Note that an effective agent will also be asking YOU questions to make sure they can adequately help you. Question one, of course, is how long has the agent been in business. You probably want an agent with minimally a few years experience specifically in the area where youre looking to buy or sell.
Buying & Selling Strategies
Question two is asking the agent how they plan to market your home or organize your house search. When youre buying a home be prepared to kiss some proverbial frogs before you find a great haven. Knowing how your agent goes about their selection process decreases the chance of really wasting your time. You will also want to know as you proceed whether other apes are bidding on the houses you see, and how those multiple offers get handled.
When selling your home the market plan from the agent should include advertising methods, and anticipated amount of time they feel the house will remain on the market before offers begin.
References:
Even if youre happy with the results of the first two questions, always get some references and CALL THEM. Some folks can talk a good game, but really fail when it comes to engaging.
Contact Point:
These days you want a real estate agent thats available by telephone, cell phone, fax and email. You need good communications to facilitate your buy or sell with as little frustration as possible.
The Paper Trail:
During your interviews of various agents ask for copies of the paperwork they use. You want to see buyer or seller disclosures, the listing or purchasing agreement, and agency disclosure. Read these over carefully or have a lawyer do so for you to make sure youre comfortable with all the specifics.
The Bottom Line
Ask about the real estate fees the agent charges. The average percentage against sales prices is between 1-4 percent for both the buyer and seller. Note, however, that the fee is negotiable. Go ahead and barter!
Make sure you know exactly what youre getting for this money. For example, does the agent help you secure a mortgage or get pre-approval on potential buyers? What guarantees do you have?
Last but not least ask your prospective agent what part of the process of buying and selling do you need to best understand? A good agent wont just shoo you out of the office or pressure you to sign with them until they know your questions are answered and you have some sound expectations.
By following this ABC guide you should have no problem finding a real estate agent you can trust and who will remain focused on your goals. Coming next - B is for Bidding Requirements
