Why Would You Use A Realtor?
April 26, 2019
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. The following two questions are things you need to ask in order to pick the best realtor for your needs.
Your realtor’s experience is one of the most important things to look into. The more experience they have, the better they are likely to be. The best ones are the ones who started working before the economic crisis and are still going strong. Next, make sure that the experience they have is relevant to your own needs. For example, if you are trying to become a property investor, your needs will be very different than if you are looking to downsize after retirement. You also need to know that your realtor understands your demographic and geographical requirements. For instance, if you were to purchase a farm, you need to work with a realtor that is very different from one that only works with apartments in major cities, as your requirements will be very different. If, however, your interests lie in historic or listed buildings, you will need a very different type of realtor.
If you are looking at making a property purchase, you shouldn’t work with the seller’s realtor who is already involved in the sale. This is due to the fact that any information you give you realtor will be passed on to the seller by the realtor, as it is their legal obligation to do so. In the same manner, if you want to sell, you shouldn’t work with your potential buyer’s realtor either. You need a professional that represents you and only you. The first thing you should try is ask people you know whether they can recommend anybody to you. 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. Don’t choose the first and only realtor you speak to, however, but look around at a few different ones first. 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. If you want to sell a property, you must find out how well the realtor has performed in the past. Do they usually sell under, on or over the original asking price?
In most cases, if you want to sell your property, your agent will require you to sign an exclusivity agreement. It is completely normal to do so but does not affect any regular rights you have. If, for example, you feel you are being poorly represented, you are allowed to terminate the contract. The contract stops you from enlisting the services of a different agent at the same time, but is otherwise non-restrictive. As a buyer, you do not have to sing such an agreement. However, some realtors are starting to insist on it. The final thing you must look into is how your realtor earns their living. 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.