How To Hire The Best Real Estate Agent
Buying a home is a massive, long-term investment decision. It requires due diligence. If you are not careful, you may end up making huge mistakes. Plus, you should research first. The process can be long. However, you don’t have to worry. Hire a real estate agent. An agent has a vast experience in the real estate industry. He/she will help you secure the right deal. Before hiring an agent, consider the following factors.
Before signing The Real Estate Contract Hire A Lawyer
Before closing any real estate deal, consult your lawyer. Real estate matters have technical legal technicalities. A lawyer understands real estate law. He/she will help you go through the agreement. Plus, your lawyer will give you proper legal representation. Conduct research before selecting a lawyer. Choose a lawyer who specializes in real estate.
Experience
Experience is important. An experienced agent will bring you a better deal. He/she has links to get you a good deal. An experienced lawyer has connections in the real estate industry. Thus, establish the experience level of the agent you intend to hire. Choose an experienced agent.
Projects Handled Per Year
How many projects has he/she handled in the past? A good real estate agent should handle at least 12 real estate deals in a year. An agent with zero sales is a red flag.
Availability
Choose a full-time agent. A full-time agent will dedicate more time to your project. He/she will spend more time pursuing the right real estate deals. A part-time agent doesn’t have enough time to pull a good deal.
Versatility
Choose an agent who deals with both buyers and sellers. Such a lawyer will offer you good insights when it comes to the buying and selling process.
Workload
You need an agent who has the time to get you a good deal right? Well, that’s why you shouldn’t hire a too busy lawyer. Choose a lawyer with enough time to dedicate to your case. Avoid too busy real estate agents. Don’t choose an agent with too many clients.
Expertise
It’s important to evaluate your agent’s expertise. Thus, ask your agent about his/her buyer-to-seller ratio. A balanced ratio means that the lawyer has expertise on both sides. Thus, he/she will deliver exceptional results.
Licensing
Licensing is an important aspect of the real estate industry. Governments require agents to get licensed before they can practice. Thus, work with a licensed real estate agent. The real estate industry is highly regulated. All real estate agents should be licensed. Thus, work with a licensed agent. Licensing is designed to bring sanity to the real estate industry. It will protect you against rogue agents and any form of exploitation.
Referrals
You should always ask for referrals. Referrals will give you a clear picture of that agent. Happy customers will speak positively about a good agent. On the other hand, a bad agent will not give you referrals. Vet your agent. Get a list of past clients. Ask them questions. Also, consider going through the agent‘s past reviews.
Local Experience
Local experience is key. Hiring an agent who understands the local real estate market will bring you good results. Remember, different communities have different real estate rules. Plus, there are different types of real estate properties you can choose from. Select an agent who understands the area and the real estate landscape in that community.
Price Considerations
Price is an important factor to consider. Make sure you are choosing a property you can afford. Thus, ask the agent about your price preferences. Can he/she deliver a project in that price range? For instance, if you are looking for a multimillion project, you need an agent who can ensure that you are getting the value for your money.
Who Will Handle Your Project
Find out who will be handling your project. Busy agents will get into a contract with you and assign your project to an assistant. This is unlikely to bring you the best results. That’s why you should get this information first before getting into a contract. Remember, a real estate project requires time, expertise, and experience.
You need an excellent support system. Of course, delegating certain duties is not bad. However, you need an experienced person to handle your project. This will bring exceptional results.
Professional Contacts
A good real estate agent should have contacts within the real estate industry. He/she should be well connected to mortgage brokers, inspectors, lawyers, moving companies, and contractors. These are the parties that run the real estate industry. Having these contacts makes things easier for a real estate investor.
Fees
It’s important to understand how the agent is paid. In most cases, agents are paid on a commission basis. They will take home a certain percentage of the deal. Usually, a seller must pay agents. Thus, avoid an agent who charges you. On average, agents are paid a 6 percent commission.
Communication
Chose an agent with open communication channels. Select a responsible agent. A good agent responds to queries from customers in real-time. He/she should answer emails without delay. Don’t hire an agent who takes days to respond to your emails. He/she should answer your calls in real-time.
Key Takeaway
Real estate investment can help you achieve your dreams. When done right, it can change your life. It’s one of the best investment decisions you can make. However, it’s important to get the process right. Before closing any deal, consult your lawyer. Also, hire the right real estate agent. Select an agent who understands your locality. Conduct inspections. Choose a property that suits our needs. Consider the neighborhood.
The Bottom-Line
Buying a home is an excellent decision. A home is a long-term, investment. Besides giving you a place to live, you can resale it to generate more income. However, before buying a home, it’s important to understand the process. Hire an agent. Use a real estate lawyer. Use the above factors to hire your real estate agent.
