Are you looking to buy a new home?
Whether you’re a seasoned homebuyer or this is your very first home, you’re going to want to ensure that you are working with a real estate agent.
Working with a real estate agent provides buyers with a number of advantages in their home search. From protecting your best interests, organizing your property viewings and providing their professional opinions, it’s clear that having representation is beneficial to buyers.
In fact, 87% of buyers choose to use a real estate agent to assist them in their search.
If you’re considering beginning your home search, you’re going to want to read this. We’re uncovering the 10 most important tips for working with real estate agents. This will ensure that your home search is as smooth and successful as possible.
1. Understand That Realtors Work on Commission
First things first, you’re going to want to ensure that you understand how real estate works.
Put simply, your real estate agent works on commission and is only paid if and when a property is purchased. If an agent does not close a transaction, they are not paid. In knowing this fact, you want to ensure that you are respectful of your agent’s time and remaining faithful to them.
2. Interview Your Agent
Don’t hesitate to interview a number of different agents. In fact, most Americans interview three agents before deciding who to move forward with.
The truth is, this is likely the most important investment of your life. That being said, it’s vital to feel happy and confident in the agent that you select to represent you in the transaction.
Ask them about the different transactions they have experienced that year and allow them to explain why their services could suit you best. At the end of the day, remember that this has the possibility to develop into a lifelong working relationship.
If you are in the interview stages, be upfront and honest with each different real estate agent that you are interviewing other agents. Honesty is always the best policy!
3. Choose an Agent with a Specialty
If you’re looking for a fixer-upper, be sure to seek an agent that has experience in purchasing fixer-uppers and home improvements. If you’re looking for an industrial loft, find an agent that specializes in this type of property.
For those searching for a property that fits such a specific niche, it’s best to find a specialized agent with experience in this niche.
Call the brokerage in which you are interested and inquire whether any agents in their system have experience in your specific property type search. Working with the best professionals is the best way to ensure success.
Most brokerages will have an online roster of the different agents within their brokerage. Each agent will have a profile that speaks to their experience and any of their specialties. Learn more about this here!
4. Do Not Call the Listing Agent
When you are working with a buyer’s agent, this person is your resource for everything.
Whether you have an inquiry about a particular listing, are looking for advice or simply need a question answered, your real estate agent that is helping you in your search is the only person that should be answering these questions.
When you begin to take your inquiries to another agent, it creates confusion and can lead the other agent to believe that you are seeking their representation.
One of the best ways to get a feel for a real estate agent is to look to their past clients.
Nowadays, there are plenty of online resources that will allow you to read reviews for almost every real estate agent. Whether these are Google reviews, Facebook reviews or even reviews on their company website. You can even ask if you can speak with a few of their most recent clients.
Before signing any representation agreement, you’re going to want to ensure that you are satisfied with this agent’s reviews.
6. Sign a Representation Agreement
To protect both yourself and your realtor, be sure to sign a representation agreement.
This ensures that both parties are on the same page and understand the terms of the representation. It also ensures that your agent understands that you are an official client and is therefore legally acting in your best interest.
Without this representation agreement, the legalities of your working relationship may face issues in the future.
7. Be Upfront in Your Expectations
If you expect your realtor to communicate with you every day, let them know ahead of time in your interview stage. If you don’t have a car and need transportation to and from showings, let your realtor know.
It’s best to ensure that you are on the same page from the very beginning. This way, your real estate agent is able to understand what your expectations are and how they can ensure they are meeting them correctly.
Being upfront and honest from the beginning is the best way to maximize your success.
8. Availability for Showings
When it comes to choosing the right realtor, it’s vital to ensure that they have the availability to take you on as a client.
Not only does this mean that their calendar isn’t full with other clients, but also that they will be widely available for showings. For example, when searching for a home in the summertime, you may want to consider avoiding agents that spend most weekends at a cottage.
Instead, locate an agent that specifies they are available most weekends if that is important to you.
9. Understand Your Relationship
It’s critical to understand what it means to be represented by your realtor.
If you have a signed representation agreement, this means that you are tied to this person for the specified length of time in your agreement. During this time, you are prohibited from establishing a working relationship with another real estate representative.
This means that in any real estate situation, be it an open house or a property viewing, it’s in your best interest to declare to other real estate professionals that you are being represented.
The importance of choosing a realtor in which you are compatible is extremely significant!
After all, you are going to be spending a serious amount of time with this person in addition to communication regularly. In business and in pleasure, ensure that this person is someone that you feel good about spending your time with.
Your Guide to Working with Real Estate Agents
If you’re ready to begin your home search, it’s officially time to start interviewing different real estate agents. While it may sound simple, working with real estate agents may prove to have its challenges.
To help make this process easier, we’ve put together this simplified guide to help you choose the best realtor for the job. Once you find the agent that is most suitable for you, you can begin the search to locate your dream home.
For more house and home tips, be sure to visit our blog! We cover anything from home organization tips to home improvement strategies.
Happy house hunting!