For many buyers and sellers the chance of working with a real estate agent brings forth unknown fears. Though some agents are genuine and reputable and consider their clients best interest as their top priority, there’s no dearth of unscrupulous individuals either who are just trying to make a quick buck at someone else’s expense. As a buyer or sellers of a property, it’s your responsibility to choose a estate agent prudently. So, listed here is a look at what you should know about real estate agents when you approach one.
What does a real estate agent do?
Depending where side he is doing work for (the buyers or the sellers), the realtor acts being an intermediary between the client and the seller and helps to accomplish the sale of a property. For his services, he is offered a commission from his client (seller, buyer or both). When working on behalf of the seller, the agent is accountable for putting the facts of a property in the multiple listing services of the area and undertaking other efforts such as home staging to promote the property.
In case of a residential property, a real estate agent may start off by putting up the facts of the property on his personal or company website based on whether he is an integral part of a realtor firm or works on his own. The next phase should be to market the property through postcards and advertisements in real estate magazines offline along with online.
Besides marketing the property, the agent who lists your property is also accountable for following up with other agents who may have clients that may have expressed interest in the property. A real estate agent is also supposed to help you negotiate the most effective deal possible. He/She has been you every step of the way till the home comes; advising you on all matters including procuring the services of a lawyer.
When working from the seller’s side, a realtor is accountable for rummaging through the property listings of a location that his client is interested in. He coordinates with the real estate agent handling the property on behalf of the seller and arranges to show the premises to his clients. A real estate agent from the buyer’s side also helps you to negotiate the most effective deal for his client and has been the client through out the purchasing process. He’s also accountable for approaching a professional to obtain a property evaluation done. Some real estate agents may also offer other services such as advice and help for procuring home loans.
Realtor can don three mantles that of an intermediary on behalf of the seller, the client or perhaps a dual agent. When buying a home, it could be best to hire the services of an agent who are able to work on your side, the same is true when selling a property as well; you would be better of approaching a real estate agent who works for sellers.
The Sellers Real Estate Agent: A real estate agent working on behalf of the seller could have his loyalties towards his client an he or she will endeavour his hardest to convince the seller to offer his client the cheapest deal. So, as a buyer if you’re to ask the estate agents in bow seller’s agent if his client would accept a higher deal, he will be obligated to not divulge these records to you.
The Buyers Real Estate Agent: Similarly agents who work on behalf of the seller owe their responsibility with their clients and will endeavour to have their clients the greatest deal possible. So, they will not be willing to supply information on what low their client should go with regards to the price.
While real estate agents are available of marketing properties, it’s not uncommon for them to play up their credentials; all things considered, it’s your dog eat dog world and there is obviously no dearth of realtors in the market. While this really is acceptable, many people resort to lying blatantly about their accomplishments and often their customers wind up spending money on their tall claims.
So, be sure that you check most of the claims which can be being created by a potential estate agent. Do not hesitate to look for references. If he has not mentioned his experience in the brochure, make it a point out ask him about it. Also, inquire about other properties he could have sold that have been just like the one which you intend to sell/buy; this may include properties in the sane area, of the same size and price range.