There is lots to think about if you want to buy or sell a home. Although it is now possible to do everything online, it is still better to find a good realtor to work with. Hence, let’s take a look at a few of the things to be aware of when choosing your realtor.
First, you need to look into your realtor’s experience. Usually, those with the most experience are also the best ones. If you can, try to find a realtor who has worked all the way through the economic crisis and still works now. You do have to ensure they have experience that is relevant to your personal needs. After all, if you are looking to move up the property ladder due to family expansion, your needs will be very different than if you were to look for a first home for your college-going child. Secondly, you need to find out how your realtor can help you in terms of your demographic and geographical needs. For instance, if you want to purchase a farm, you need someone who has the right contacts to look into the condition of the land, previous production methods and the homestead itself. If, on the other hand, you want to purchase a listed building or a historic property, you will need someone that has a very different type of experience.
Don’t work with the realtor of the owners of the property you are planning to purchase. This is because if you reveal any information that you could use in negotiations, the realtor would be obliged by law to pass that on to the seller as well. Similarly, if you want to sell, you also need a different realtor. You should be looking for a realtor that only represents your needs. Start by asking people you know whether they can refer you to a realtor. Alternatively, contact the NAR (National Association of Realtors) to find a realtor. The greatest benefit of working with a NAR agent is that you know they are both professional and ethical. Always make sure you contact a range of different realtors before making your decision. Explain your needs and ask what they suggest. It is an opportunity for you to find out how much a potential agent knows about neighborhoods, prices and more. As a potential seller, looking into the track record of the realtor. You need to know whether they usually sell below, on or above the asking price.
Usually, seller’s realtors will ask you sign an exclusive agreement with them. It is a very normal thing to do but you still have most of the same rights. For example, if you realtor does not represent you properly, you can always terminate the contract. The contract, essentially, just means that you can only work with a single realtor at the same time. You are not obliged to sign this type of contract if you want to buy. However, there are now more and more realtors who do request it. Realtors have to earn a living and you need to understand just how they do that. There are a number of constructions realtors can use. Most commonly, they work on commission although there are also some that charge a flat fee. You need to work out which of the two constructions your realtor will use before you agree to work with them.