Buying and selling a property is a very big decision. When you are buying or selling a home, one big decision that you have to make is choosing a realtor. There are five tips that you should follow when hiring a realtor that will help to ensure you make the best choice possible.
1- Check Local Sales
One of the best ways to find a realtor is to check local sales reports in your area. All homes that are sold will clearly identify who the buying and selling agents were. Once you have looked at all of the local sales, it should be clearly obvious who the top realtors in your marketplace are.
2- Ask for References
When you are looking for a new realtor in your area, another good way to find one is to ask for a reference. Most people know several friends and family members who have sold homes in a certain period of time. When you are looking to buy or sell a property, it would be a good idea to ask your friends and family members for references and referrals to their realtors. This can help make a good introduction to a qualified professional.
3- Read Local Real Estate Magazines
When you are looking to hire a realtor, another way to find one is through local publications. All major cities across the country will have a variety of real estate magazines highlight real estate trends and current information, you will also be able to use these magazines to find realtors in your area.
4- Interview Several Realtors
When you are looking to find the realtor of your dreams, you should also make sure that you interview several. Choosing the right realtor is a very important decision and not one that should be taken lightly. You should make sure that you interview several different realtors before making a decision. During the interview process, it is important to get a sense of their market knowledge, experience, and ability to invest time into your purchase or sale.
5- Consider Negotiating Listing Agreement
If you are selling a property, you may also want to consider negotiating the listing agreement. Most real estate brokers have base sales fees of around 3% of the sales price. If you negotiate, you can normally have a portion of this taken off. Another option would be to offer to pay a higher commission if they are able to achieve a certain sales price or a quick sale. This will help to keep the realtor motivated.
6- Set Expectations Ahead of Time
When you are hiring a realtor, it is also important that you are honest about your expectations. This should include discussing the sales price, the marketing strategy, and the expected timeline. All of these are important business points that should be discussed to ensure that all parties are on the same page.
7- Consider Newer Realtors
While it is important to find a realtor that you trust and is successful, some people may be better off working with a realtor that is newer to the industry. If you choose the top realtor in the area, there is a chance that they will be in high demand and will have less time to dedicate to your needs. On the other hand, one that is newer may not have as deep of a client list and will be more focused on your transaction.
8- Discuss Your Responsibilities
When you are hiring a realtor, you also need to make sure that you are aware of what your responsibilities will be for the process. This will normally include making sure that your home is always clean and ready for a showing and making sure that you have the home properly staged before any open house.
9- Use Their Network
When you are hiring a realtor, you should also show interest in using their network of professionals. Many real estate professionals have a network for mortgage lenders, lawyers, appraisers, and other parties that provide needed services. By using their services providers you may be able to get a package deal and save money on some or all of the services provided.