Most folks depend upon the services of real estate agents to purchase and sell property, but you have to select a realtor carefully. You must have a good relationship with your listing agent in order to get a good deal on your property. Read on for some tips on how to choose a real estate agent who will work diligently with your best interests at heart.
As in any other business sector, there are good and bad real estate agents. A buyers agent works only for the buyer and is bound to represent you above all other interests. A vendor agent works only for the seller of the home. This implies that they only look out for the seller’s interest. If you are using a disclosed dual agent, then the agent works for both the buyer and the seller. This frequently comes about when a broker sells a property they’ve also listed for sale. Obviously, this is a conflict of interest. As a house buyer, you are better off going with an agent who works exclusively for you.
Before you engage a realty professional, it is important to recognize the difference between a real estate broker and a real estate agent. Real estate brokers are certified professionals who help sellers and potential buyers of homes. Real estate agents are licensed professionals who work under the supervision of a licensed real estate broker. In return, the broker pays the agent a percentage of the commission realized from the sale or purchase of the property. Traditional, full-service real estate brokers working with sellers provide a broad range of services, including helping organize the property for sale, recommending a selling price, advertising the home to potential buyers, fixing up meetings and negotiating with prospective purchasers, following up on home inspections and additional issues once a sales contract is signed, and arranging for the closing of the transaction.
Before you hire someone, you should ask your friends and family for referrals and interview several real estate agents. Ask the agent about their experience in your area, track record, style and market knowledge. Don’t be afraid to ask for references and be clear about what services you expect them to perform. Once you’ve selected an agent who meets with your criteria, sign a listing agreement or contract. Check to make sure that all the terms are in writing, plus the agreed upon commission. You may want to negotiate a termination clause if the agent doesn’t perform to your standards.
Some people grumble about the expense of hiring a realtor and choose to sell their home or look for property themselves. However, this can be a tedious and time consuming process. Real estate agents often work around the clock and that’s how they earn their commissions. A good real estate agent will be diligent about representing your best interests if you choose carefully. Build a good relationship with your agent by being upfront about your needs and then trust them to carry through on their promises. If you choose well, then you’ll get a deal that everyone can be happy with.