If you have never bought or sold a property, you may be in a confused state. The good news is that working with a real estate agent who has handled these processes before can make things easier for you. If you want to buy or sell a home, you don’t want the hassle of doing it alone. There are many aspects of the property buying or selling process that require an expert’s opinion. Sure, you can find an excellent home on Movoto.com. However, you need a realtor agent to buy it.
Keep in mind that not all estate agents are equal. Some are much better at the job than others, but the last thing you want to do is pick the wrong one. Here are a few essential qualities you must consider when looking for a reliable real estate agent.
1. The agent’s knowledge of the real estate market
If you want to purchase a property, you want to avoid overpayments. And if you intend to sell a home, you want to make sure you are getting a fair price. So, it’s vital to find a realtor who knows the market well and can give you a good idea of what you should be paying and which homes to add to your list. An experienced realtor like Kelly Caldwell will know which homes are overpriced and priced fairly. If you want to buy an investment property, you need a broker with experience in the region. If you want to become a landlord, the agent should give you an idea of how much you should charge as rent. They can be a great source of seller lead generation as well.
The best way to ensure you pick a good realtor is to get recommendations from people who have ever bought and sold properties in your preferred area. If you are looking for an agent in a location where you do not know anyone personally, make sure that the agent you are considering provides you with a list of satisfied clients to contact and get first-hand information about the agent’s competency.
Also, you can ask your friends and neighbors about their experiences with some reputable real estate agents. Find out what they think of a specific agent they worked with. Remember, some real estate brokers are willing to give you advice on what to pay for your home. In this case, you must assess the agent’s knowledge about the local real estate market.
3. Pay attention to their designation
Different estate agents specialize in various real estate transactions. Some property advertisers can help you sell your property, while buyer agents are more suitable if you want to purchase the home of your dream. The latter is particularly true for those who want a property that they do not need to buy as an investment. If you intend to buy a property that you can rent out, look for a real estate agent who understands commercial properties. After all, you don’t want to buy a property that cannot attract tenants.
Keep in mind that some boards such as Real Estate Agency Council award real estate experts the title of Accredited Representative Buyer, which gives them the opportunity to look after you in situations where you are only buying. If you want to buy a property that don’t intend to sell, seek such real estate agents.
4. Fees or commission
While nearly all real estate agents can set their own fees that property sellers and buyers should pay, most charge a fee for their services in the form of a flat fee or commission. This could be 5 percent to six percent. In case see a higher rate, ask what you get in return, or negotiate the rate as long as possible.
If you want to sell a house that can fetch a higher sale price, your agent may be willing to lower your fees. The lower the commission you pay, the more cash you keep after selling the property, and the higher the price you sell.
6. The contract’s fine print
When choosing an estate agent, you should look for a contract that can be signed on the first day of sale and stay in place for as long as possible. The goal is to find a broker with reasonable contract terms, but when you select a broker, you also want to have a good understanding of what you are looking for before you sign the contract. In case you don’t understand the details of the contract, ask for help. Sometimes, it’s better to get in touch with an attorney who can help you understand all the terms of the contract. Don’t sign if there are elements that are not clear.
The right real estate broker could be the key to the success of the first day of sale or even the end of the sale. Some of the super-rich people have made their fortunes through real estate investments. You can still achieve that.