Do you want to purchase or sell a property but don’t know where to start? In this case, you may hire a real estate agent to assist you throughout the process, making wise judgments and avoiding costly mistakes. A competent real estate agent will also be well-versed in the intricacies of the local housing market. To make your task easier, we provide you with some guidance on how to choose a real estate agent.
1) Seek advice from your contacts
An average individual has no information about the properties, so it is best to get advice from friends and neighbors to make a wise selection. Asking several individuals in your network for recommendations is one of the best ways to determine if a given person is a good agent or not. After that, make a decision; don’t just go with the first agency you come across. You must examine his work to see what abilities he possesses and how quickly he responds to the various technical, tactical, and financial concerns that occur.
2) Conduct an online search
If you do not find the best realtor after asking your network, your next best alternative is to go online. A quick Google search can reveal an agent’s internet presence, including the agent’s website and social media profiles. Examine their internet reviews as well. Don’t be worried if there are just two or three unfavorable reviews.
Additionally, it’s crucial to confirm with your state’s real estate authorities whether the agent you’re thinking about is licensed and has ever faced disciplinary action. While performing your research to find the appropriate agent, make a wish list and a list of must-haves for what you’re searching for in a home.
3) Market Knowledge
It is critical that your realtor be conversant with the local real estate market. He must be a professional agent who can tell you how long properties normally take to sell and if they typically sell at, above, or below the asking price. This can assist you in determining how to price your house if you’re selling or how to build your offer if you’re buying.
When hiring an agent, ensure that he is a member of NAR and has sufficient expertise in his industry. Although some agents have more experience than others, it is dependent on your needs, such as working with first-time buyers or dealing with condominiums or co-ops. Your agent should also hold a number of real estate certifications given by the NAR, including Accredited Buyer’s Representative (ABR) and Seller Representative Specialist (SRS).
The ideal fit for your needs is a full-time agent who isn’t overcommitted to other assignments. Time is sometimes of the essence when buying or selling a house, so you need to know how to communicate with your agent effectively. Make sure your agent is aware of and receptive to using your preferred mode of communication. Ask potential agents during the interview process whether they are willing to put in the time necessary to achieve your goals, such as preparing a home to sell and showing it on your schedule or seeing several listings each week.
6) Contracts and Commitment
After you’ve chosen an agent from the list of prospects, you’ll sign a listing agreement, which normally lasts two to six months. Traditionally, the seller pays a real estate commission of 5 to 6% of the sale price, with half going to their own agency and the other half going to the buyer’s agent. The commission paid to list agents could be negotiable.
The contract’s duration, which will not be more than six months, should also be considered. Additionally, you should keep your options open in case you don’t get the house you want within a few months.