There are many realtors, and each has a different way of representing your interest in selling and buying properties. How do you pick the right one? This is a common question. To make things easier, here is a guide on choosing the right realtor to represent your interests and details on asking potential realtors to represent you.
When you're choosing the right realtor to represent your interests, there are three steps you should take.
Step 1: Find a List of Realtors
The first step is to find a list of realtors in your area. There are many different ways to do this, but if you have a friend or family member who just happens to know someone looking for a job as a realtor, he or she may be able to help you out. You can also use online resources like Zillow and Trulia that list local agents by region and price range.
Step 2: Call Around
Once you've got a list of local agents, it's time to call them. Most real estate agents will have websites with information about their services, so ask them for more details about what they do and how much they charge per hour. If they don't have a website, ask them how long they've been in business and how many sales they've made over the last year or two. If they don't sell much at all, that's an indication that their prices might not be competitive enough with other local agents; however, if they have plenty of experience under their belts.
Step 3: Understand Their Fees, and Make Sure You Can Afford It
The third step in choosing a real estate agent is understanding their fees. There are two types of fees: commission and contingency.
The seller, not the buyer, pays commissions. They range from 1% to 5% of the sales price and typically apply only if the buyer agrees to their terms. The most common commission is 2%.
Both parties pay contingency fees in exchange for handling the transaction. They are higher than commissions because they require more legal work, such as preparing escrow documents, but it can be well worth it for buyers who want a professional who will take care of everything for them. Contingency fees range from 3% to 6%, depending on the size of your home and its value; larger homes often have higher values, so you may pay more than 3%.
Whether buying or selling a house, choosing the right real estate agent can make a difference. By taking your time and researching, you can easily find an agent who will provide superior service and dedication to your needs and represent your best interests in the process. Befriending a real estate agent is a great idea; after all, they have to put up with you buying or selling a home. Until next time, good luck in your quest!Posted by Jag Sidhu PREC* on