If you want to purchase a property or sell your own, you should consider hiring the services of a realtor. You may know someone who works in real estate yourself, but you should still take the time to find the one that is truly the best for your needs. Let’s take a look at the two most important things you need to know about when you choose a realtor.
Ask about to see if you know someone that can recommend a realtor. However, don’t let your decision weigh solely on their opinion. Make sure you do your research therefore. Make sure you find a realtor that has a specialization in the properties you are interested in. If you want to purchase a condo, there is no point going to someone that specializes in luxury mansions. Always take the time to actually speak in person to a realtor you may choose. Ask how they will represent you, what they cost, whether they have references and so on. You also need to talk about your expectations. Your realtor must understand your needs. Finally, make sure that you actually get along with your realtor. The reality is that you will struggle to trust someone who you don’t like. Last but not least, try to work with the realtor with the most experience. Most of us would like to help people to get their foot in the door and climb the professional ladder, but it can be hard to trust someone inexperienced when you are talking about thousands of dollars.
If you want to buy a property, do not work with the realtor whom the seller has employed. By law, the realtor will have to pass on any information you give to the seller as well. If you hope to sell your property, you also shouldn’t work with the realtor representing the opposing side. You should be looking for a realtor that only represents your needs. Firstly, ask your friends and others whether they can refer you to a realtor. Alternatively, contact the NAR (National Association of Realtors) to find a realtor. If you work with a realtor registered with the NAR, you will know for sure that they are professional and ethical. You should always try to contact different realtors before choosing one. You should discuss your needs with them, finding out what kind of suggestions they offer. It is an opportunity for you to find out how much a potential agent knows about neighborhoods, prices and more. If you want to sell your home, find out how the realtor has done in the past. What you must find out is whether they tend to sell below, on or above the asking price.
Usually, seller’s realtors will ask you sign an exclusive agreement with them. This is completely normal, but it doesn’t mean you don’t have rights. For example, if you realtor does not represent you properly, you can always terminate the contract. All it means is that you are only able to work with a single agent at the same time. As a buyer, you do not have to sing such an agreement. However, there are now more and more realtors who do request it. The final thing you must look into is how your realtor earns their living. Realtors can earn their money in a variety of different ways. In most cases, realtors will work by charging a commission on the final sale or purchase price of a property, but there are also those who charge a flat fee. Before you agree to work with a realtor, therefore, you must understand which one of the two constructions they work with.