Buying or selling a home can be an overwhelming experience if you don’t have the right guidance by your side. Real estate is indeed one of the best investments that stand out but entering into this world can be complex since predicting what/who is genuine or whatnot is hard. Be it selling or buying, to avoid wasting time, you need to hire a good realtor. Yes, towards a successful journey in real estate, a genuine realtor is a must.
Now, the question arises, how would you be able to find the “best” real estate agent? Isn’t it a tough task since plenty of options are there? Yes, it is tough but not “impossible”. We have prepared this blog to help beginners figure out “How to choose the right realtor”. Let’s get started,
What is the job of a Real estate broker?
Real estate agents help individuals to sell and buy properties at the best price possible. These professionals educate their customers about the market conditions, guide them about each step of the Selling or Buying a house process and also make referrals to other mavens, for example, real estate attorneys and home inspection companies. Their title in the field is based on the type of work they’re doing in real estate transactions.
- A listing Agent
They help sellers to market, price and list their properties, and negotiate with the consumers.
- A Buyer’s Agent
They help consumers to find and buy listed properties and make modest offers, negotiate with the sellers. Sometimes, depending on the experience, a Real estate broker does both works.
How to choose the right real estate agent?
Here are some steps that you should follow to find the best Real estate broker.
1. Have a conversation with your lender before hiring the real estate agent
It is wise to talk to your lender before hiring a realtor to understand how much you should invest in a property. Sometimes, people directly dive into the house hunt with the realtor without talking to the lender that leads to several issues while buying a house. Understand how much you can afford and then start hunting for the house.
A pre-approval mortgage will allow you to estimate the amount you can borrow and also categorize issues that you might face in the future while buying a house. This will help you to list the best home under your price range and give your realtor an idea of what type of home you can invest in. In the current competitive market, it is compulsory to have a pre-approved mortgage letter to show realtors and sellers that you’re serious about buying the house.
2. Get referrals from your friend and family
Ask your friends and family members if they’re connected with any genuine and trustworthy Real estate broker. Discuss their experience with the real estate agent—ask them if they’re satisfied with the service. This is one of the best answers to “How to choose the right realtor”. If you don’t want to take risks, listen to your family and friends. Preferably, you need someone professional, dedicated, and above all “experienced”. If you’re a first-time buyer, your questions would be different from repeat buyers. So, consider the questions constantly popping up in your mind and work according to them.
Search for the real estate agent who is a “Realtor” with (Capital) “R” which means they’re associated with the NAR (National Association of Realtor) and also have lawfully agreed to stand by the Code of ethics of groups. If you search well then you will know that some real estate agents also have credentials to show that they’re well-trained in the particular real estate area. Some of the designations consist of:
Seniors Real Estate Specialist (SRES)
They have completed training intended to help buyers and sellers of age 50 and older.
Accredited Buyer’s Representative (ABR)
They’re trained in representing purchasers in transactions.
Certified Residential Specialist (CRS)
They’re trained to handle residential real estate.
Apart from these, there’re buyer’s agents and seller’s agents about which we’ve already discussed initially in the blog. To find the best real estate agent, you need to figure out what type of service you want and then hire.
3. Research, Research & Research
The best answer to “How to choose the right real estate agent” is the Research. Be a responsible buyer or seller and do your homework. No matter how many referrals you take—doing your research is the key. Begin with examining the online presence of the realtor. Check their website and social media accounts—know whether they’re eager to spread the right and important words about their profession on the internet. Take a look at their audience and clients, check online reviews to understand what their customers have to say about them.
Don’t get carried away with the negative reviews but also be aware of red flags. If there are too many positive or negative reviews, catch the red flag. Do remember to check with the real estate regulatory of your state to know whether the realtor is authorized or not. Examine the selected candidates on the local Better Business Bureau to know if they’ve any complaints booked under their name.
If you want to find the best real estate agent, it is suggested to begin searching a month before you’re expecting to get your mortgage application pre-approved. While searching and doing your homework—do not forget to make a list of the selected and rejected agents and also the things you want to have in your home. Finding the right realtor is time-taking and intimidating but worthy to Selling or Buying a new development home.
4. Enlist the top two or three and interview them
An interview is the best way to check whether you’ve selected the best realtors or not. The one who is professional, well-trained, and experienced would never fail to give you the best interview of your life. While interviewing them, discuss your goals, budget and see what they have to say about it.
Check how sorted and polished their proposal is. Their efforts to help you find the best home should be seen in their proposal. You don’t want anyone arrogant and trust their service way more than required. An expert and humble real estate will make the journey of finding the house easier for you.
The interview will also give you a chance to figure out what type of communication and availability they prefer to serve their clients. Your realtor should be able to answer and guide you through the process. If they don’t see taking your advice as important—move on to the next one. You don’t want a realtor who is not serious about your goals and one who doesn’t communicate.
Questions to Ask while interviewing the real estate agent.
- Are you a person who can put a hundred percent dedication into helping me Selling or Buying a new development home?
- Do you have experience working with the same client like me? Do you often work in a neighborhood or switch locations from time to time?
- Do you have authorization, credentials, and license to work as a real estate agent?
- Do you have multiple communication channels to communicate with your clients?
- Do you think I am a potential client as per your experience in the field?
- Are you open to provide me suggestions when I get confused while Selling or Buying a house?
- Would you help me in the negotiation process?
5. Ask for testimonials
Any genuine and trustworthy Real estate broker would never hesitate to give you references for their work. Ask them to provide you data of homes they’ve sold and listed in the past few years, with the phone number of at least five clients. Your work doesn’t end at just getting the contact information, you need to call them one by one and discuss their experience with a realtor. Since it is about investing your hard-earned money in Selling or Buying a new development home, you can’t take a risk at all. Also, do ask them whether the agent supported them in the negotiation process with the buyer or seller. Know whether the agent is their regular one or they switch in the next transaction. By considering these questions important you will be able to find the best real estate agent.
6. Read the Contract carefully
Last but not the least, read the contract carefully to avoid any future misinterpretation. Your contract should have each term spell out to which you and your real estate agent agreed that includes commission. Usually, the vendor pays 6% of the property sale price to the agent. This price can be negotiable depending on the realtor’s services.
To find the desired home, it is essential to find the right real estate agent. It is always good to hire an experienced realtor to ensure that their knowledge would help you negotiate at the best price possible for the property—whether you’re a buyer or a seller.