When we think about buying a new house, or apartment, we usually need the help of a person who knows fully how the process of buying and selling a property is. It is precisely there when the figure of the real estate agent comes into play.
A real estate agent is an individual or institution that arranges transactions between a buyer and a seller for a commission when the transaction is executed. That is, it's the agent who acts as a broker or intermediary between a buyer and a seller, usually charging a commission and becoming a director of part of the agreement. In addition to this, he is in charge of advising and advising on business-related issues.
Now, how do you know if the real estate agent you are going to choose is good or not? In this guide, you will get five tips to choose the right person.
REAL ESTATE AGENT - FACTS
· To choose a good real estate agent, you must take into account certain factors or very important aspects.
“Finding a good real estate agent is not that easy. It is recommended that you critically consider whether the person is the right person for the job, as you do not want to lose money because someone does not know how to handle your property. "
What is a real estate agent for? Working with professional real estate agents can prevent tons of headaches by having an interface agent between the user and also the buyer or tenant (for example, you do not have to be the one who receives calls from interested parties Buyers or tenants, or the inspection organization, among others).
For this reason, you may want to consider working with a real estate agent to help you navigate the process and ultimately find a buyer or tenant for your property.
FIVE KEY THINGS that we should keep IN MIND BEFORE HIRING AN AGENT:
1. Local Experience
Local experience is key because real estate markets change from city to city with differences, even within the city or in the suburbs. So, you have to know the area covered by the real estate agent to determine if he has local knowledge about the real estate market, where your property is located.
One way to do this is by contacting an agent and first asking what areas they cover without first revealing where your property is located.
An added benefit of working with an agent who has local knowledge of an area is that they have the most informed opinion about the true monetary value of your property, and can help avoid a situation where your property is sold for below its real price or its opposite extreme: staying too long in the market without a buyer because its price is above the value of similar properties in that area.
2. Years in business
We recommend working only with real estate professionals. It will be more professional, but it may charge you a higher rate. Ask the real estate agent how long is he or she been actively selling or renting properties. The more experience they have, the better. Specifically, you need an agent who is the most experienced in selling or renting properties in the area where your property is located.
3. Read comments or recommendations
If a real estate agent is experienced, he or she will have clients that have been served in the past. Ask the agent that you would like to see comments or recommendations from previous clients. Similarly, you want to know what the selling price of each property was and how long each property spent on the market before it was sold.
4. Test the agent
A professional agent will be attentive to most (if not all) properties available within the area he or she covers. It is normal for agents to know about other properties that are available in their area. You can test the agent's local expertise by talking about a property they recently sold, so you know what's in the same area as their property. If the agent recognizes the property and can give you a few details, then it can be safely assumed that the agent knows his area.
5. Breakdown of Rates
Agents live off the commission, which is a percentage of the price of a property when it is sold or rented. That is, they make money only when they are able to sell or rent a property. And you have to talk about this from the beginning with the agent. Ask the agent for a breakdown of what he or she will charge you at closing. If you think there is a high demand for your property type, you will have some bargaining power to negotiate low commission. However, you will have to be careful that they do not negotiate too much, which is why the agent is recommended for optimal results. If an agent charges well below the normal commission rate, it can be an indicator of possible poor quality negotiation by the agent.
If you are looking for houses or apartments in Mayfield and
Newcastle, be sure to visit Chris Arnold Real Estate on Facebook.