Selling or buying your house is one of the most important financial decisions of your life. You want to do it right. This is where you need the help of a real estate agent. Real estate agents can make this whole process very easy for you.
There are plenty of realtors available to provide their services. However, you need to choose a realtor that best suits your interests. Finding a trustworthy and experienced realtor can really help you sell your property at higher rates or buy at the lowest possible rate.
Whether you’re buying or selling your house, here’s how to choose a realtor that best serves your interests.
Ask for Referrals
Referrals are a great way to find the best available real estate agent. Ask your family and friends who have bought or sold their houses in the past. They can guide you to the real estate agent that helped them in getting the best deal. Ask them about the kind of deal they got with their realtor. Whether they were happy with their new purchase or sale? Will they hire the same realtor if they have to sell or buy a house in the future? If the reply is positive then the chance is that their realtor is a trustworthy individual. You can consider such a realtor for your potential partnership as well.
You can also ask your colleagues or even your lender for the suggestion of a great realtor.
Reviews & Testimonials
Reviews and testimonials are another excellent way to differentiate between a good and a bad realtor. If your potential realtor has a website, visit that website and read reviews of their previous clients. One or two bad reviews can be ignored. However, if they exceed more than that then it’s a red flag. If the majority of the reviews are positive, the chances are that the realtor does its job with utmost honesty and competency.
You can also look for testimonials. This way, you can find out how satisfied their old clients are with them. A satisfied clientele is a great way to gauge someone’s ability regarding their work.
Look for Certification
Realtors are required to have a membership of the National Association of Realtors. This is what differentiates them from real estate agents. They are bound by the organization’s certain code of ethics. All realtors have a capital R in front of their names in the listings.
Moreover, as in every industry, realtors too try to further their studies and stand ahead of the curve. They pursue additional certificates to be the expert of their particular specialty. Some of these certificates include Accredited Buyer's Representative (ABR), Seller Representative Specialist (SRS), and Senior Real Estate Specialist (SRES) among others.
Asking for these certificates is a wise move. This way you can hire a realtor that best suits your needs and have a specialization in the area you’re looking to engage.
Experience Matters
Real estate is a tricky business. Amature realtors can make some mistakes that can cost you big time. This is why you need to hire someone who has vast experience in selling and buying houses. They know by experience each and every detail of the transaction.
You can check their previous dealings and how they have managed those operations. If they have been successful in the past, chances are your interaction with them will also be a very fruitful one.
Hiring an experienced realtor is also very important for first-time buyers and sellers. Their familiarity with the process can make things easy.
Ask for References
Ask your potential realtors to provide you with the references. Ask them to provide you with the contact numbers of the clients they have managed in their recent assignments. You can call those clients and ask them about their experience with the realtor. Ask them whether they were satisfied with the whole buying or selling process. Asking them whether they would like to hire the realtor again for their future property transactions is a great way to gauge the competence of the realtor.
References also provide you a window towards their past experiences. It can be a great way to shortlist and hire the best realtor for your property transactions.
Local Market Knowledge
Hiring a realtor who knows the local area can be very beneficial. A local reactor would know the real estate market of your area quite well. He’ll most probably know the prices already in place. Moreover, he’ll be able to know how to deal with the current market condition and will make your transaction a success. A local real estate agent will have an edge over someone who doesn’t know the area that well.
You can look for local realtors in the real estate publications of your area. See which real estate agent has more listings and have better conversion rate in their dealings.
Conduct Interviews
Once you’ve shortlisted the realtors, it’s time to go through the interview process. An interview is the most important part of the whole process of searching and evaluating a perfect realtor for you. In the interview, you can also gauge the personality of your potential realtor. This interaction can give you an impression of what kind of a person you’ll be dealing with and what to expect.
Moreover, during the interview, you should ask specific questions related to the matter. Ask them about their past experiences, assignments, and their strengths. Ask them what’s their marketing technique? If you're selling or how they will find the best suitable real estate according to your needs.
Being upfront about your needs and requirements is also a very crucial part of the interview. Let them know the reason you’re going for this transaction. Be specific about it. This will allow them to better help you in your real estate transaction.
Review the Contract
After you’ve finalized a candidate to hire as your realtor, now it's time for the contract to be evaluated and finalized. There should be each and every agreement mentioned that has been determined between you and your real estate agent. The commission of the agent should also be mentioned in it.
Moreover, also determine the length of the contract. It shouldn't span for more than the period of time a competitive selling market would require for selling a house. The same case is when you’re buying a house. A competent agent should be able to close the deal within the given amount of time.