Real estate agents can be hard to discern. A good realtor will know how to take care of every aspect of the sale or purchase of your home, while a bad agent might not even know what they’re doing. Remember that you want to work with someone who will represent you and your needs, not theirs. You can even ask them where you can buy barn doors online. They just might know!
Here are some tips on how to keep this important relationship healthy and happy—if all else fails, remember that you have the power.
Choose an Area Specialist
Sellers hire area specialists more often than buyers because homes need a lot more work from the seller’s point of view. The more experience the agent has with the neighborhood you’re looking in, the better they’ll be equipped to help you assess whether that home is a good investment.
Choose someone who is not only an expert in real estate but whose approach is tailored to your own specific needs. You may want to work for a smaller agency or with someone new to your market and, therefore, not as familiar with traditional methods of selling or buying. Some people prefer to choose younger agents who are familiar with newer technology and can make greater use of online tools and social media. There are many factors to consider, so ensure you have a clear idea of what you’re looking for before trying anyone out.
Before you start working with an agent, ask them to tell you about their previous clients. You may want to avoid agents who’ve worked with unreasonable clients or who don’t align well with your personality.
Ask your friends and family if they have any recommendations; many people prefer to work with someone they already know because they trust them to get the job done. Also, the more familiar you are with your agent, the better you can understand how they operate and make decisions at crucial points in the process.
Agents won’t always be able to promise a perfect outcome for every situation involving a buyer or seller. Like anything in life, many variables come into play that you may not be able to predict. It is why it’s important to work with the right person equipped to deal with all angles.
Do your research. Real estate agents get paid by commissions, and commissions mean money. If an agent spends three months with an average client, they make three months’ pay even if they don’t sell anything. Real estate agents often advertise a certain percentage of the closing price, but really what they are doing is promoting a certain amount of money that the agent will collect from the buyer or seller depending on how the house sells.
It means that if your house sells for $150,000 and the agent says he charges 3% on sales of $150,000, you would pay that agent $4500. However, if your house does not sell for $150,000 (as is often the case with places that need a lot of work), then you do not pay the realtor his “3%. If your home only sells for $105,000, you will likely pay him much less than $4500.
Also, remember that fees are involved in getting your home ready for sale. Also, there will be fees applied at the closing table as well. It is important to know what these costs will be so you do not have a nasty surprise after closing the house.
If you are a buyer, do your research and know the average sales price of homes in that neighborhood so you can get a sense of how much the agent will be paid if they sell it for a certain amount. Knowing this can help you decide if they are working towards selling your house or simply trying to get you to spend as much money as possible.
Choosing the right realtor is important, but there are many websites out there that will guide you through the process. You may want to use a site like Zillow to get an idea of how many homes are on the market in your area.
You can look for an agent who specializes in your geographical location. You can also look for a realtor who specializes in the type of house you are looking to find. A good realtor will probably work to find you the most affordable home they can while accounting for your budget and needs.