Friday, November 30, 2012

Choosing The Right Realtor For You

Finding the right Realtor for you may take a little time. It's important to find one that you are confident can meet your needs. The decision to buy or sell a home is a big one, so make sure to choose a Realtor accordingly. 

First, ask people you know who have bought or sold recently if they worked with anyone they would recommend. Ask friends, co-workers, family, and neighbors. Since they have been through the entire process recently, they will know how helpful someone would (or wouldn't) be throughout the process. If no one you know has good recommendations, take a drive around your neighborhood and check out for sale signs. Is one company or person dominating the area? If so, it may be for good reason. Is there an open house nearby? If so, you will be able to see them in action and get an idea of what it will be like working with them. 

Once you have a few options, check out ratings and reviews. Many Realtors will have their own website, but keep in mind they are in control of the content posted there. As well as their site, look at third party ratings to get some non-biased feedback. Don't necessarily get turned away by one bad review, but look at the experiences as a whole and make sure the good feedback far outweighs the bad.

The next step is to interview some agents. Hear from them about their experience, track record, buying or selling style, marketing knowledge, familiarity with appraisals, financing, negotiation, inspections, etc. The important thing during the interview is to make sure you will work with someone you feel you can trust and who you will feel comfortable having guide you through the process. Therefore, make sure you ask the right questions:
  • How many homes did you sell in the past year?
  • How many of those were in the area I am interested in?
  • What is your commission? 
  • How will you market my home?
  • Can you provide a list of references?
  • If you are selling, find out how the Realtor will search for homes for you, how many you can expect to see, and how multiple offers are handled.
  • If you are a seller, ask how the agent will market your home, how many photos will be posted, and what current buyers are looking for.
Lastly, set communication expectations. What means of communications will you be using most often? What is an acceptable period of time to get a response within? Make sure you know how you will be kept informed during the process. Setting this tone early will let you know if your communication style meshes, as well as set standards from the get go. 

It is also important to think about what to avoid in a Realtor. If you have a friend or relative who is a Realtor, think carefully before going to them. Make sure you are looking at their qualifications as carefully as you would for any other Realtor. Also, keep in mind how problems that develop through the process could affect your relationship. 

Keep in mind that a low commission doesn't guarantee a good Realtor. It is possible you will be getting what you pay for. The incentive of commission can play an important role in sales. An agent earning a full commission will have incentive to make handling challenges that come along a priority, where an agent earning a small commission would not have that same incentive.

If you are looking for a Realtor to buy and sell a home with, please keep me in mind. You can check out my website to get started. 

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