How to Pick the Right Real Estate Agent

What to Watch for When Picking a Realtor

Whether you’re buying or selling a home, it’s a good idea to work with a trained real estate professional. To claim themselves, Realtors, people have to pass training and licensure requirements. Licensed real estate agents are bound to codes of ethics and laws, and have access to the MLS, (Multiple Listing Service) database, which will help in your search. To ensure you get the best deal for your money, you should be aware of the different types of agents, and their responsibilities and compensation. Also, you should know how to pick an agent, and how to deal with one once you’ve done so.

Typically, the two types of agents are buyer’s agents and seller’s agents. Respectively, they represent the interests of the buyer or seller. The client signs an agreement to work with only that agent, and also sets up the compensation terms. The seller pays a commission, which is usually a percentage of the sale price, to their agent who splits it with the agent representing the buyer. The compensation terms and length of agreement should be outlined clearly. Do not sign anything until you are sure you want to work with that agent, and are happy with the terms of the contract. As a buyer, I never sign an “exclusive” agreement which means I will only work with that agent to find me a property.

Another type of agent is a dual agent. This is when the same agent represents both the buyer and the seller. I strongly recommend against entering such an agreement. I do not feel a dual agent can truly represent both sides of the deal honestly, especially if they are working on commission. In addition, when working with traditional agents, there are confidentiality clauses to protect the information of each party. When working with a dual agent, these clauses are still in effect, but how realistic is it to believe they are truly maintained? The same agent cannot serve both parties’ interests and purposes effectively.

A buyer’s agent is responsible for helping you to find a property. The agent will use the MLS, or Multiple Listing Service to do so. The agent should help you prepare your legal documents for the purchase of a new home. A good agent will point out possible problems with a home, help you negotiate the best price with the seller’s agent, and make sure the price is comparable to other recent sales of similar properties.

A seller’s agent will help you market your home. They should come into the home and make suggestions to enhance its appeal to possible buyer’s, help with the pricing of the home. As with a buyer’s agent, the seller’s agent should help you with your paperwork, and of course, negotiate offers on the home or property.

Picking a real estate agent can make or break the buying and selling process. First and foremost, you want to find an agent you can trust and rely on. Sometimes when meeting an agent for the first time, they’ll want you to sign an agreement to work with them. Don’t sign anything at the first meeting. The agreement is completely legitimate and necessary to protect the agent as well as you, but you wouldn’t agree to marry someone on the first date would you? Instead, shop around a little. Meet a few agents and see what type of chemistry develops. Make sure they are experienced, thorough, and dependable. If they don’t return phone calls, find someone else. You are letting a person into one of the biggest events in your life, pick someone you like, trust, and has had prior successes. Does the agent show up on time? How long has the agent been licensed? Is real estate their full-time job, or a part-time hobby? Do any of your friends have recommendations? Does the agent seem prepared to work for you, and understand your timetable?

A great website for helping in your decision is www.Homethinking.com. This site was started in California as a way for people to share information on real estate agents. Since its inception the site has gone nationwide, helping people everywhere make better decisions. According to Vacation Homes magazine’s June/July 2007 issue, the site accounts for two thirds of the nations residential real estate transactions. Information gathered about the agents includes, number of sales with prices, the difference between the advertised price and the final selling price, the average price of all the homes the agent has sold, and the number of properties the agent has listed. There is even a way for customers to comment on their relationship with the agent. The site monitors such comments to make sure there are no unethical practices taking place. Using www.Homethinking.com links you up to hundreds of other people who have gone through the same thing you are.

Once you’ve picked an agent, let them do their job. They are professionals, and should be given a chance to work without being second guessed. With that said, do not let yourself be pressured into making an offer, increasing a bid, or accepting an offer because of your realtor’s wishes. Make sure you do your own independent research about schools, crime rates in the area and types of crimes committed, the environmental health of the area, and the ethnicity and income levels of the area. Visit the surrounding area, without the Realtor, during the day and night, on weekdays and weekends. In the end, this is your decision, and you’re the one who’ll have to live with it, so take your time, do not be pressured, and keep your eyes and ears open.

Visit www.PlacesOfValue.com for more articles on best places in North Carolina and South Carolina, relocation made easy, top retirement communities, cost of living, and designing and building your Dream Home.

Article Source: http://www.real-estate-article-directory.com

I've spent over 30 years finding the best real estate locations for major corporations. These companies have made hundreds of millions of dollars based on the locations I've selected. I'm a professional real estate site locator and location analyst. During the last 5 years, I've been researching the growth of towns in North and South Carolina, for the relocation of my family.

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