A Real Estate Agent May Make or Ruin a Property Transaction.
A real estate agent may be an invaluable asset when purchasing a home.
They will show you properties and propose fantastic buys as soon as they hit the market, offering essential advice and guidance on the purchasing process.
However, more than one-third of recent purchasers said they would not employ their previous real estate agent again.
So how can you ensure that you select the best candidate?
The challenge is understanding how to evaluate suggestions to locate an agent that best meets your needs.
How to Find an RE Agent
Here are six measures you can take to identify a real estate agent that is knowledgeable, helpful, and has your best interests in mind as a house buyer:
Talk to a Lender Before Contacting a Real Estate Agent
You may feel compelled to call a real estate agent to begin property hunting immediately.
However, you must first contact lenders to learn about the mortgage programs available in your region and be prequalified for a mortgage.
A pre-qualification or pre-approval for a mortgage estimates how much home you can afford.
Without a pre-approval, you risk hiring an agent to look at houses your lender would not authorize you to purchase.
Before you can finalize a loan, lenders must evaluate your application according to stringent underwriting criteria.
On the other hand, pre-approval gives a picture of what you may qualify for depending on your income, credit history, and current debt-to-income ratio (DTI).
Without one, you risk hiring a real estate agent to see houses that a lender would not allow you to purchase.
You will succeed better if you know from the beginning that you are just looking at properties within your budget.
Ask Your Family, Friends, and Neighbors for Agent Referrals
Given that we’re accustomed to Googling any subject that comes to mind, your first instinct may be to do an internet search for real estate agents.
When selecting the appropriate agent, though, nothing beats an old-fashioned referral.
Your friends and relatives will provide information you won’t discover on a real estate agent’s website, such as how responsive they were to emails and messages, how aggressive they were in recommending properties, and their temperament.
Ideally, you want your realtor to have extensive knowledge of local market trends and an intuitive understanding of the sorts of homes that best suit your wants and purchasing ability.
Because you will be working directly with your real estate agent throughout the home-buying process, it is crucial that you have faith in them.
People closest to you have an innate sense of the personalities with whom you are most likely to get along, and they can offer you the inside scoop on what it’s like to deal with a particular agency.
Your neighbors are also excellent resources, as the real estate agent they employed is likely familiar with the region you wish to buy in.
Ideally, you want your realtor to have extensive knowledge of local market trends and an intuitive understanding of the sorts of homes that best suit your wants and purchasing ability.
Ask Your Former Agent for Suggestions
If you have purchased a property, but your previous realtor does not operate in the region where you wish to relocate, ask if they have any contacts.
A different agent can refer you to respectable real estate firms or may even be acquainted with a local agent who would be ideal for you.
As beneficial as family referrals are when it comes to the purchasing process, a colleague agent may have a different perspective on what makes someone an excellent agent.
Obtaining their expert advice might help you examine all of your possibilities thoroughly.
Examine Internet Evaluations of Prospective Real Estate Brokers
When you need to discover a real estate agent, a Google search is helpful.
Once you have compiled your list of suggestions, conduct an online search of their names. Determine whether other homebuyers share the thoughts of your friends and relatives.
Consider the following questions while reviewing real estate agent reviews:
- Does this agency have glowing testimonials?
- Are they recognized for their ability to close deals?
- Do they provide emotional and logistical support?
- Do purchasers claim you replied fast to their questions?
Typically, do they work with purchasers in your demographic?
An agent who deals with clients with your financial and lifestyle requirements is better able to predict your preferences and recommend homes that may tickle your interest.
Meet an Agent in Person Before Employing Them
Similarly to applying for a mortgage with at least three lenders, you should meet with many agents before choosing one.
This is the case even if a friend or family member connects you to an agent they directly know. Even if an agent is your father’s friend, it does not necessarily make them the best person to represent you.
When speaking with several real estate agents, you should inquire about the sorts of homes they specialize in and the types of clientele they generally serve.
If you’re searching for a tiny starting house, you should refrain from engaging with an agent specializing in high-end transactions.
When speaking with several real estate agents, you should inquire about the sorts of homes they specialize in and the types of clientele they generally serve.
Because real estate brokers operate on commission, they may be less responsive than you would want because they are focused on larger transactions. You wish to collaborate with someone who can provide complete help.
Also, inquire about their working approaches. Are they constantly active? Can you call with questions after hours? How often are they absent from the office?
Consider your expectations for your real estate agent and ensure that their approach matches your preferences.
Too frequently, homebuyers are so anxious to begin house-hunting that they hurry into a partnership with an unsuitable real estate agent.
Confirm That Your Agent’s License Is Current
Real estate agents must possess legitimate, up-to-date licenses to advise and represent you in a transaction legally.
Check the National Association of Realtors (NAR) database to confirm a real estate agent’s credentials before committing to a partnership.
You can also check for their credentials on the website of your state’s association, if available, or phone the association for assistance.
Any agent suggested to you will have a legitimate and active license. However, double-checking is quick and straightforward and might save you a lot of headaches if something is incorrect.
Why It Is Essential to Hire a Competent Real Estate Agent
A competent real estate agent does more than assist you in locating your dream house. In addition, they advocate for you throughout the purchasing procedure. In a competitive market, they can recommend a suitable opening bid and assist you in developing a competitive offer.
A real estate agent can give perspective if you lose out on your ideal home or the inspection process reveals big red flags due to their extensive experience.
Your real estate agent will also negotiate the purchase price and other specifics, such as who will do certain repairs and whether the seller will contribute to closing expenses (which may be up to 5 percent of your mortgage).
In summary, you require a trustworthy real estate agent. Therefore, begin your search offline rather than online.
Although you undoubtedly began your property quest with virtual tours on Zillow and Trulia, you should ask individuals you already know for suggestions on real estate agents.
The more real-world information you have about an agent, the more educated you’ll be, and the more likely you’ll have a successful home-buying experience.
Last Thoughts
The thrill of purchasing a home may motivate you to hire a real estate agent as soon as possible.
However, because this is such an essential connection, you should choose who is most suited to represent you and with whom you will want to work throughout an exciting but also stressful and emotional process.
