Tuesday, October 8, 2013

Selecting a Real Estate Agent

Selling your home or buying a new home is a business transaction and should only be thought of as such. It is best not to make decisions based on impulse or emotion, in the end it could end up cost you money. This makes choosing the right Realtor is an important step in the process. 

Searching for the right real estate agent can go a few different ways. 1. Some of the best referrals come from word of mouth, friend to friend or colleague to colleague. There is something reassuring to hear a client speak highly of their experience. 2. Many of us have friend or family in the industry, but are they the agent you need? 3.There is always Google search or LinkedIn. Whoever you may be considering should still go through the interview process. It will allow you comfort and security in your final decision.   
  • How long have you been in business?
  • What is your average List Price-to-Sale Price Ratio?
  • What is your marketing strategy for what I need?
    • As a buyer...
      • How will you search for my new home?
      • How many will i look at before i find one want to put offer in on?
      • Will there be competition from other buyers?
      • How would you handle multiple offers?
      • Do you present the offers yourself?
    • As a seller...
      • How do you plan too sell my home?
      • Do you do direct mailing? Why? 
      • Are there sample flyers you can show me?
      • Do you market online? How?
  • Do you have references?
    • Reviews from past clients are a great source
  • What makes you better than other agents?
    • Keywords: Honest, trustworthy, dedicated, assertive, good communicator, friendly, analytical, and available.
  • What documents will I be signing and may I review them first?
    • Buyers will be asked to sign
      • Broker Agreement
      • Agency Disclosure
      • Purchase Agreement
      • Buyer Disclosure
    • Seller will be asked to sign
      • Agency Disclosure
      • Listing Agreement
      • Seller Disclosure
  • Will you help me find other professionals? 
    • Mortgage Broker
    • Title Company
    • Insurance Agent
  • Fee? What is it? 
    • Figure that agents charge from 1-4% to represent one side of transaction
  • Any Guarantee?
    • If I am not happy, can I cancel my contract?
    • What is your companies policy on canceling contracts?
    • Have you ever had a client cancel a contract? Why?
  • Is there anything else I need to know, but haven't asked?
    • There is always something more to know when buying a home, pay attention to how your agent prospect answers this question.

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