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Buying or selling property is a major financial decision, and it’s important to have a professional by your side to help you navigate the process. While there are many real estate agents out there, finding the right one can make all the difference in your experience. Here’s what you need to know to hire a trustworthy and reliable real estate agent.
First and foremost, it’s important to understand that real estate agents often specialize in specific areas of the industry. Some may specialize in residential properties, while others may focus on commercial or land transactions. It’s crucial to choose an agent who has significant experience in the type of transaction you need help with. This will ensure that you have an agent with the necessary skills and knowledge to help you successfully navigate the process.
Here are six steps to help you hire a real estate agent that meets your needs:
Ask for Referrals
Ask your friends, family, title officers, and mortgage bankers for recommendations for a real estate agent they have worked with and had a positive experience with.
Research and Compare Potential Candidates
Research the online presence of potential real estate agents by checking their websites and social media platforms. Also, verify if they are licensed and if they have any disciplinary issues with your state’s real estate regulator.
Conduct Interviews
Interview at least three real estate agents to determine their approach, experience, communication preferences, and availability. This discussion will also allow the selected agent to understand your needs, expectations, and budget.
Trust Your Instincts
After meeting with potential agents, trust your instincts and choose the agent you feel most comfortable with since this transaction will significantly impact you.
Check References
Request references from the agent and contact them to find out their experience with the agent in handling properties and clients from the previous year.
Review the Contract
Before signing the contract, review it carefully to ensure that everything agreed upon is included, such as the length of the agreement, the duties of the agent, and the commission rate. Ideally, a contract lasting six months or less will best meet your needs.
Why You Need to Hire a Real Estate Agent
Real estate transactions can be challenging, time-consuming, and frustrating. Having a professional representative in your corner can be a wise decision. Here are some of the benefits of hiring a real estate agent.
Accessibility to Off-Market Listings
Real estate agents know about available properties that aren’t on the multiple listing service (MLS) system or property search websites. This gives you an advantage as such properties can offer some of the best deals possible.
Market Knowledge
Real estate agents are updated on the current real estate market conditions. They know everything about the housing market and the factors that can affect it, including mortgage interest rates and unemployment. Local agents will inform you about the neighborhood, upcoming projects in the area, and any potential increases in market value to help you make an informed decision in good time.
Unrivaled Marketing Techniques
Real estate agents employ the best marketing strategies to make your property available to potential buyers and make a sale. Besides, a real estate agent license is required to access the MLS, so you can’t post your property there without hiring an agent.
Spotting Potential Faults
A buyer’s real estate agent will identify property flaws and advise you accordingly. Alternatively, a seller’s agent will hire a home inspector to inspect your home and report on problematic areas. The agent will then advise you on fixing the issues and preparing the house for sale.
Searching Expertise
A veteran real estate agent will give you a list of properties matching your wishes, needs, and budget. They’ll also assist you in handling the buying process, making it seamless and hurdle-free.
Incredible Negotiation Skills
Whether you’re buying or selling, an agent will strive to fetch you the best real estate prices possible. With a wealth of negotiating experience on their side, a real estate agent knows how to press all the right buttons to secure the best deal.
Price Guidance
Real estate agents know how to determine the value of properties. They’ll help you evaluate the worth to avoid buying at inflated prices or guide your pricing when selling.
Professional Networks
As a seller, an agent will connect you to a network of professionals to prepare your house for sale, including plumbers, landscapers, home repair professionals, contractors, staging companies, etcetera.
The agent will connect you with real estate lawyers, mortgage professionals, appraisers, and inspectors as a buyer. You can then add the professionals to your network for future reference.
Protection Against Legal Risks
The buyer may sue a homeowner selling their assets if their contract doesn’t correctly disclose everything that affects their property’s value. Thankfully, an agent knows the laws of disclosure and is therefore far less likely to make a mistake. Even though they aren’t without their occasional screw ups, they are covered by professional errors and omissions insurance, so the buyer can’t sue the seller.
