Jan
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How To Choose A Real Estate Agent
Filed Under mortgage
Don’t hire an agent you meet by chance at an open house, find in the Yellow Pages, or discover on the Internet without thoroughly checking their credentials, experience and practice.
Realtors are real estate agents that are members of the National Association of Realtors (NAR). Realtors typically adhere to a strict Code of Ethics which governs their conduct. Not all real estate agents are Realtors.
If you are buying a home you may want to seek a realtor that has ABR credentials. This means they work strictly on the buyers behalf and not the sellers.
If you are shopping for a new home, your first step should be to find out how much house you can afford by contacting us and reviewing your credit report and income, and we can then provide you with a prequalification letter which you can use to show sellers you are serious about buying the home and capable of paying the price. We will recommend top quality realtors and agents in the area where you are searching, and specialize in helping first time buyers and relocations.
A listing agent is a real estate agent who contracts to sell your home. They usually list your home in the Multiple listing Service(MLS), handles the closing transaction, and performs other duties to get your home sold such as advertising and open houses.
Sometimes the best way to select a Realtor is to just take a look around your neighborhood at the for sale signs. Chances are if you see a lot of listings by one particular Realtor, that Realtor must be doing a good job and is probably very aware of home values in your neighborhood.
Choosing the right real estate agent will make your home buying experience easy and fun. Some real estate agents specialize in listing homes, and others in showing homes. It is a good idea to interview a few before making your decision on which you will use. You want to make sure the person you choose understand what you are looking for, understand you, and wants to make your buying experience enjoyable.
Other options to find a Realtor are local organizations like the Chamber of Commerce and Neighborhood Associations. Ask your neighbors who they used, or if they know a local agent.
Ask your loan officer for a referral since we interact with many real estate agents throughout the year and on a continuous basis.
It’s a better idea to get several recommendations from friends, family members, co-workers, and others you trust who also have recently used that agent to buy or sell a home and had a satisfactory experience.
Check your Realtors credentials. Real Estate Agents are state licensed professionals. Check with your state’s licensing agency/department and verify that your realtor is currently licensed. The state may also be able to provide documentation on any complaints or disputes involving that agent. Many areas have a local or regional “Board of Realtors” this is a local organization of Real Estate Agents similar to a Chamber of Commerce. This would also be a good source to follow-up on your Realtor.
A seller’s agent is a real estate agent that works on behalf of the seller in a purchase transaction. A seller’s agent is also the listing agent but can also be another real estate agent that finds a buyer for the property listed by the listing agent. This agent will be only called a seller’s agent if the agent does not have a Buyer’s agent contract with the potential buyer.
Before choosing a real estate agent, buyers and sellers should understand the difference between listing agent, sellers agent and buyers agent. Knowing the difference between the three could help you secure the best deal possible when selling or purchasing a home.
Because an agent takes a home buyer around town and shows the buyer various homes, the homebuyer may have the illusion that the agent works for the buyer. Most agents are seller agents, meaning they are paid with the commissions from the home seller. Seller agents therefore have a fiduciary duty owed to the seller. To avoid conflict of interest, a homebuyer can pay a real estate agent and in effect hire the agent as a “buyer’s agent”. A buyer’s agent by law must act in the best interest of the buyer.
If you are looking to buy investment property, you should seek out a Real Estate agent that works with other investors. This agent should understand and be experienced in purchasing the types of properties you are looking for. If you are looking for a fourplex with good cash flows a Realtor that usually just works with first time homebuyers won’t be able to help find the right deal for you.
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