How To Select A Real Estate Agent

Posted October 26, 2010 – 3:41 am in: Mortgages
     

Are you ready to buy your first home? Or maybe it’s time to sell the house you’ve been living in. It might be your first home or you may be moving from a condominium to a single family residence. There are many things to take into consideration when selecting a Realtor to help you buy or sell a home. The first thought may be to turn to family or friends. You may have a friend or relative that is a Realtor, but are they necessarily the correct person for you?

You should select a real estate agent the same way you would choose any other professional service provider. If your friend is a professional in the field of real estate, they must understand that they’ll have to compete for your business. Also be forewarned, you could end up ruining a relationship if things don’t turn out the way you hope.

What about a Realtor who lives in and ‘farms’ your neighborhood? Knowledge of your neighborhood or the neighborhood in which you are looking to purchase is important, however you need to find an agent with knowledge of the recent sales, the schools, the businesses and factors important to you. One of the reasons you use a Realtor is they have knowledge of the current market but they are also looking for you. They will need to be selecting homes to view that meet your criteria. In order to sell your current home, they’ll need to know what to market to buyers - both about your home and the neighborhood.

Which is better, a Realtor that works for a large real estate company, or someone independent? There are some advantages to using an agent who works with a big company. They are able to stay open longer because they have more staff. This makes it more likely that they’ll be there to answer phone calls from home buyers inquiring about your house. They have larger budgets so they can run more ads. The larger offices also offer resources like ongoing training for their agents.

You find an agent who will take the lowest commission. Everyone wants to save money, but is this a smart strategy? The old rule that you get what you pay for holds true. A cut rate service will put your home in the MLS and post a sign in your yard, but is that enough? You want to get your home sold quickly and for the best price. And it’s going to take some legwork to find the right new home.

Many people have a price in mind that they’d like to get for the home they’re selling. They hire the Realtor that agrees that their house is worth that price. That doesn’t mean that there’s a buyer who will be willing to pay it. They are buying your listing. Homes for sale get the most attention in the first days and weeks that they’re on the market. Your home will be viewed by lots of potential buyers if it is priced properly. If it is priced too high, no one will bother to show it to their clients. If you then drop your price you may be viewed as desperate and you may get lower offers than you would have if you had priced the property correctly from the start.

Conversely, as a buyer, you don’t want an agent that will show you homes that are way out of your reach. They may be attempting to push a property that has been listed for a long time to help get it sold. They may also show you properties that are less desirable than what you are looking for in an effort to help you save money. The best Realtors listen to what their clients say, match that up with what’s available in the marketplace and find the best possible homes for you. To paraphrase and old saying, “They should use their two ears twice as much as their one mouth”.

The best agent for you is the agent who will do the best job of finding a home that meets your needs. They may not find one that meets them all but they will show you that they listen and know what you are looking for. If you are selling your home, the Realtor’s ability to market it and negotiate the best combination of price and terms is what matters. The common denominator here is a Realtor with good communications skills and a thorough knowledge of the local real estate market. It is your decision to buy or sell and your decision who will help you with that process.

Whether you’re buying a new home in San Diego or Des Moines, selecting a good Realtor is one of the most important decisions you’ll make. The right real estate agent can help you with everything from locating the right house to negotiating the price, from finding a mortgage to getting the sale closed.

categories: realtors,real estate agents,buying a home,real estate,homes,houses,mortgage,home loans,business_and_finance