Working with a real estate agent is a great way to ensure your interests are well represented, whether you are a first-time buyer or want to sell your home and then purchase another one. When you need to sell your current house or when you want to buy a house, hiring a seasoned real estate agent becomes crucial. Below is a list of things you should know about working with a realtor.
Realtors Work on Commission
Although there are a few exceptions, most realtors operate on a 100% commission and are only paid when there is a successful closing. A 100% commission pay structure means no draw, salary, or bonuses, and a Realtor only makes money when a sale happens.
The various expenses incurred by agents include business cards, stationery, websites, advertising, gas, time, direct mailers, and energy. Failure to generate money means such Realtors lose money in the long run.
Communicate With Your Realtor
Hire an agent whom you can communicate with effectively. A great Realtor listens to the clients and caters to their needs by managing expectations. Almost all buyers want more than they can afford, and sellers tend to give a higher valuation to their homes.
Whether you are looking for a condo on the beach, a Realtor assists you in fulfilling your dreams. Communication is crucial, and the real estate agent will find the best way to help clients.
Ensure to notify your real estate agent of your preferred mode of communication, e-mails, text messages, phone calls, or all of the above.
Do Not Call the Listing Agent if You Are Working With a Realtor
A listing agent represents the seller and not the buyer. Hiring a listing agent means that the agent will work under a transaction broker to represent both the buyer and the seller. A dual agent should operate hands-off and not disclose confidential information to either party.
Listing agents prefer not to venture into the buyer’s agent job as managing various aspects of buyer and seller transactions can be time-consuming and challenging.
Allow your buyer’s agent to represent the buyer, and if you require any information regarding the property, you can contact your Realtor, not the listing agent.
Listen to Your Realtor
Seasoned realtors have assisted clients in various situations during the buying and selling process. Experienced real estate agents have gone through several purchases, saving clients considerable time.
Research online and go through the multiple listing service (MLS) before hiring a Realtor. A little research allows you to eliminate various properties which may waste your time, and proper consultation with your Realtor will enable you to formulate a strategy for viewing homes.
Experience Is Important
According to a Title Insurance Florida expert, experienced Realtors save you thousands of dollars and possibly headaches. A home is a significant investment that clients will always make in their lifetime. Hire a Realtor with extensive experience to secure the best deal.
Be Ready to Buy
Clients who plan to purchase must consult with an agent beforehand. The dynamic nature of the real estate market means that it will have a different outlook in the future. Take time to educate yourself on various developments in the market and keep a watchful eye.
Clients who are ready to make a purchase should have all things in order. Ensure you are pre-approved by a lender and have proof of funds ready. Ensure you have the funds to cover your inspections, earnest money deposit, and closing costs.
- About the Author
Alex Grigoryan is a Professional Home Improvement and Lifestyle Writer. He has been in the industry for over 6 years and has been writing for Chique Home Living since 2019. His work has been featured in prestigious blogs such as Spruce Home, Better Homes & Garden, and more.