It is always a good idea to enlist the services of a realtor, whether you are buying or selling. You may have a friend or relative who works in real estate, but before you automatically turn to them, you will need to think whether they truly are the best for you. Let’s take a look at the two most important things you need to know about when you choose a realtor.
Your realtor’s experience is one of the most important things to look into. 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. However, you also have to make sure that they have experience pertinent to your own 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. The second important thing is that they understand your demographic requirements and are able to deal with those. 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. Should you be interested in purchasing a property that is historic or listed, for instance, you will need the services of someone very different.
The other very important thing to look into is reputation. There are many realtors out there who quite deservedly have a very bad name. Luckily, you can also find information that tells you which realtors do have a good reputation. Be sure to check the Better Business Bureau in terms of finding out how good the realtor is. Social media is another very important tool. It is very difficult to censor anything that appears on social media, meaning you can easily get your hands on honest reviews. Do also ask the opinion of people you know. Before you allow a single complaint to push you away from a realtor, however, find out whether there is any relevance on the complaint to you and see how the realtor has responded to the complaint and improved their service.
If you are selling, you are likely to have to sign an exclusive realtor agreement. This is a common procedure but it does not mean you lose any rights. If, for instance, you feel that the representation you are receiving is not proper, you able to terminate the contract. All the contract really prohibits is for you to work with more than one agent at the same time. Buyers, on the other hand, usually do not have to sign these contracts. However, it is becoming more commonplace for a realtor to ask for exclusivity. Realtors have to earn a living and you need to understand just how they do that. Different realtors do this in 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. It is vital that you know which one of the two constructions your potential realtor uses before you decide to sign your contract with them.