It is quite a thrilling experience to buy or sell a home. There is the excitement of the hunt involved and the thrill of the deal. The entire process becomes smooth and seamless with the help of a competent and reliable real estate agent who has sound knowledge about the real estate market.
As per huffington post , a real estate agent must know much more than merely the lockbox combination. He must have adequate marketing and sales knowledge, competence to represent his clients’ best interests, and effective diplomatic skills for closing a deal.
However, there are numerous real estate agents and brokerages out there and that makes it doubly difficult and challenging to identify the best real estate agent to suit your unique specifications. It is of pivotal importance to work with a top real estate broker who is trustworthy and experienced to help you sell your property at top dollar or buy at the best price.
Remember selling or buying your home is probably the biggest financial transaction that you handle in your entire life. Hence, choosing the perfect real estate agent is a crucial but daunting or overwhelming responsibility. A good broker could assist you in navigating the entire buying or selling process with the least tension or stress, whereas, an inefficient agent could end up making the process quite difficult for you. You must interview a few real estate agents or brokers before hiring them. Here are some of the most important questions to ask your real estate agent while taking his interview.
What is your experience in the real estate industry?
This may not necessarily imply how long the agent has been involved in the real estate business instead the question should be asked to understand their exposure and knowledge of the local market especially, your type of property. They must have a thorough knowledge of the existing real estate market trends. They should be able to tell you the precise prices of all comparable properties in your area. As listing your house at the right price is the key, you must know how frequently they were compelled to cut down the price of a house for making a sale.
A good broker would never agree to sell any property that they think is overpriced or not reasonably priced. Brokers must have all property-related information. They need to be versatile and should feel the pulse of the market. They must understand the customer psyche. Do not get fooled or misled by their sales pitch that may include celebrities whom the broker may have helped. That should not be given any importance as that seems to have no relevance whatsoever to your sale. It is of utmost importance to know precisely what they could do for you. Once a deal is finalized you may consider using mortgage calculators to analyze mortgage financing, as well as, repayment options.
What is your exact marketing strategy?
Your real estate agent must be transparent and you must know everything he would be doing for selling your property. He must tell you about his plan of action. Does he have any innovative or fruitful ideas that seem to work? Will he post blogs or organize special events like an invitation-only party where only a select few buyers and brokers would be invited. How does he plan to make your property outshine the rest? As digital marketing is critical ask your broker to show certain sample web listings to you. You must ensure that a competent professional photographer is hired and his expenses are included in your marketing budget. The photographer must be encouraged to capture the fascinating and crucial aspects of your home, for instance, a unique feature of your kitchen or the mesmerizing view from your bedroom.
How would I know of your progress?
You must tell your real estate agent about the way you prefer to be communicated whether by text, email, or phone. Find out if your agent is willing to make a commitment to a regular routine of sharing detailed written activity and marketing reports. You need to tell your agent that he must be available and accessible when you are looking for an update or want to know something. Moreover, you need to understand if he is a lone operator or if he has a partner or colleague who is skilled and qualified enough to take his place if ever the broker is not available.
What commission are you expecting?
Real estate brokers generally charge 6 percent that is generally split between the buyer’s agent and the sales agent. A real estate broker gets around 60 percent to 90 percent of the entire commission. This amount is not fixed and you could choose to negotiate a deal. Examine the budget and meticulously check all sales-related expenses and identify what all you need to pay and what would be coming out of your real estate agent’s commission.
Do you have the right connections?
This obviously does not imply that you are interested in knowing about the broker’s friends on social media platforms like Facebook. Your intention is to know precisely how well the agent is connected with his colleagues in the firm and with other professionals in the real estate world. A seasoned and reputed real estate agent would have robust connections very much within the real estate industry and they even maintain a close connection with photographers and lawyers too. They maintain good relations with several top moving companies as well so that they could recommend them to their clients.
Can you share some references?
You simply cannot overlook this one. You must ask your real estate agent to share the names of all your recent clients. You could call his previous clients and ask them about his dedication and the quality of work or if the work was delivered on time.
Conclusion: Chemistry Is Key
It is best if you go about interviewing at least, three real estate brokers or agents before choosing the perfect one for your unique requirements. Your focus must be on neighborhood expertise. You must feel comfortable interacting with them. You must find them honest and trustworthy. They must gel with you so that the process could be completed without any major issues or unwanted hitches.