Are you looking for your dream house and wondering how to find a real estate agent to help you with the process?
You have come to the right place.
With years of experience in the industry, we have seen numerous cases where buyers and sellers suffer at the hands of each other because they don’t have a reliable real estate agent to supervise the deal. You should at least meet three prospects before choosing your real estate agent, and we will tell you why.
Basics of Real Estate Agents
Real estate agents are professionals that help people buy and sell homes or properties. They have extensive knowledge and experience in the industry. They educate buyers and sellers about the market trends and prices. They are also responsible for making referrals to other professionals like attorneys and homestagers. There are two types of real estate agents.
Buyer’s Agent: These agents represent the buyers. They get paid by buyers for presenting purchase options to the buyer and negotiating the price with the seller. They work for the interest of buyers.
Seller’s Agent: Seller’s agents represent the sellers. They put the listings, market the property and negotiate with buyers on the seller’s behalf.
In some cases, people have the same agent representing both sides and some real estate agents work for both. However, it might confuse you, and it is better to have someone who works solely for your benefit.
Hiring a professional real estate agent saves you from many unforeseen troubles. You can make smarter decisions with the assistance of real estate agents, but that is only possible if you hire the right person. Here’s how to find a real estate agent.
Interview the Agents
The first step to finding the right real estate agent is always the interviews. You should ask your friends, colleagues, neighbors, etc., to refer you to some real estate agents. It is better to connect with agents through mutual connections. Once you have received a list of agents, you should start interviewing them. We recommend you to at least interview three prospects for better decision-making. With these interviews, you can dig into specifics.
Questions to Ask Real Estate Agent in Interviews
Is the agent licensed?
Licensed real estate agents have to go through coursework to pass an exam. You must find out whether your real estate agent is licensed or not. You can also check their website for it.
Will they have your best interest?
As we mentioned, in some cases, the agents work for both parties. You must ask the agents about their interests. If you want someone to solely work for you, you should focus on that criterion.
Were their previous clients satisfied?
It is essential to know their work ethic and previous record. Ask for testimonials and reviews of their past clients and check whether the recent ones were satisfied with their work or not.
How will they communicate with you?
You should also determine the channel of communication beforehand. Ask the agents how they communicate with their clients. It can be via phone calls, physical meetings, or texts. Some agents are comfortable with all channels; in that case, you can choose your medium of communication.
What was their experience working with clients like you?
It is important to hire someone with similar past experiences. If you hire an agent who hasn’t worked with a client like you, they might have some problem dealing with things. If you are comfortable being their first client, you can hire them, but it is better to choose someone with prior experience.
Real Estate Tips for Buyers
Following are some useful tips for finding a dependable real estate agent for buyers.
Ask About Today’s Market
A good buyer’s agent will set realistic expectations. You need to ask your agent about today’s market so you are aware of it. They are also responsible for educating you. Since you don’t have any experience of buying properties, you should be aware that there are other buyers who might outwit you. Buyers’ agents are supposed to help you with that as well.
Ask Them About Their Process
As a buyer, you must have a set budget for your house. You need to ask your agent how they will help you find the perfect house for you in your budget. Ask them about their prior experiences and how they helped their clients find suitable homes on a budget.
Ask Them About Negotiation
A buyer’s agent is responsible for negotiating prices with sellers. You need to ask your agent how they will negotiate and get the best price for your house. They must have a clear strategy to make it work and try to understand their negotiating strategy.
If you are satisfied with the answers of realtors, hire them and start looking for homes that are most suitable for you.
Real Estate Tips for Sellers
Here are some tips for sellers for hiring the best seller’s agent.
Ask Them About Comparable Listings
A good seller’s agent will have all the records of previously sold houses similar to yours. You should ask them to show you comparable listings from the last six months and see how they helped the clients sell their properties.
Ask About Your House’s Worth
As a seller, you might think too highly of your home. Your agent is responsible for setting realistic expectations. Ask them about your house’s worth to determine the final price for it. Once you interview multiple prospects, you will be able to identify which one is the right fit for you.
Ask Them About The Required Improvements
You might not be able to see any flaws in your house, but from an agent’s perspective, there might be some things that need work. If your agent is telling you to improve something, work on it because it might increase your house’s worth.
Ask Them About Their Marketing Strategy
A seller’s agent is responsible for marketing your property. One of the major reasons why you need to hire a seller’s agent is because they have experience and strategies to market your property to the right buyers. Ask them how they plan to market your house.
Explore Pros and Cons of Using a Realtor for New Construction in 2024
Difference Between Real Estate Agent and Realtor
Some people fail to understand that there’s a difference between a real estate agent and a realtor.
Real estate agents are people who help clients buy and sell their homes. They work for real estate brokerage and have liability insurance. They have to study five courses and submit a criminal background check to pass their exam and receive a license. Once they have received their license, they must complete an additional two courses within 24 months.
Real estate brokers are people who manage real estate agents. An agent can become a broker after gaining two years of working experience as a real estate agent. They must continue their study to get the brokerage license. They pay commissions to real estate agents and add listings to ensure that all transactions are accurate. As a buyer or seller, you won’t be meeting the broker regularly, but they will work behind the scenes to ensure everything runs smoothly. Think of them as managers for your real estate agent.
Realtors, on the other hand, are agents who continue their education even after receiving a license. They have to adhere to a strict moral code and practice compliance in all cases. They have to be honest and clear with all transactions with buyers and sellers. This makes this profession a little more reliable. You can identify if someone is a realtor by checking the trademark on their business cards or website.
Conclusion
Choosing the right real estate agent is a daunting process. While you are looking for the most suitable partner for real estate, we would recommend being thorough with your interviews and checking the people’s skills as well. After all, interpersonal skills are just as important for a good partnership as real estate expertise. You need to click well with your real estate agent. You can ask any additional queries to realtors, and they will be patient to solve all your confusion. If they don’t, continue your search until you find a reliable real estate agent.
