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 review two issues of importance when it comes to choosing a realtor.
Firstly, you should find out how experienced your realtor is. 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. Next, make sure that the experience they have is relevant to your own needs. Someone who wants to flip properties, for instance, will have very different needs to someone who wants to find a home to raise a family in. Secondly, you need to find out how your realtor can help you in terms of your demographic and geographical needs. For example, those who want to purchase a ranch will need a realtor that understands soil conditions and production methods and who can also look into the homestead that comes with the ranch. Should you be interested in purchasing a property that is historic or listed, for instance, you will need the services of someone very different.
It would be a mistake to work with the realtor whome the sellers of a property have already hired if you are looking at making a purchase. This is because that realtor would be legally obligated to tell their other client your highest budget and other information that could damage your negotiation position. If you hope to sell your property, you also shouldn’t work with the realtor representing the opposing side. What you need is a realtor that only works with you. Firstly, ask your friends and others whether they can refer you to a realtor. You can also look through the NAR (National Association of Realtors to find good representation. 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. You should discuss your needs with them, finding out what kind of suggestions they offer. Doing so will make sure that you can learn how much a realtor knows about prices, neighborhoods and so on. If you want to sell, you also need to know what the realtor’s track record is. You need to find out their track record in terms of selling above or below the asking price.
In most cases, if you want to sell your property, your agent will require you to sign an exclusivity agreement. This is a common procedure but it does not mean you lose any 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. Buyers, on the other hand, usually do not have to sign these contracts. However, there is a changing facing in the world and many now ask their buying clients to sign a contract as well. The final thing you must look into is how your realtor earns their living. Different realtors do this in different ways. Most commonly, they work on commission although there are also some that charge a flat fee. Before you agree to work with a specific realtor, you have to find out which type of payment construction they opt for.