Realtors

HOW TO GET THE MOST OUT OF YOUR REAL ESTATE AGENT

Like hiring any other professional, it’s critical that a homeowner or a potential purchaser of a home has a competent and loyal real estate agent in his/her corner. For most of us, the purchase of a home is the most important single investment we make in our lives. Here are a few do’s and don’ts.

Do’s

• Check the real estate agent’s references and resume.
• Ask if the real estate agent has achieved any special designations or awards related to professional conduct, or continuing education in real estate.
• Ask the agent how long he/she has lived in the community and has been licensed.
• Ask the agent about loyalty to you. A loyal agent in your corner is critical, because we think it critical that you have a loyal professional acting as your advocate in negations revolving around the purchase, or sale of your home. Many states require a disclosure from the agent stating he/she is working for the buyer or the seller. If your proposed agent is not willing to make such a commitment to you, find another agent.
• If you are going to list a home with a real estate agent, get a written proposal from three competing agents, in order to see how much each one is willing to do in the marketing of your home, and make certain the proposal includes what it will cost you. As we have said before, why sell your home, if you are upside down, or owe more on the home than it is worth, if the home can be rented for at least enough to cover the mortgage payment, taxes, and insurance?
• For questions about a home’s value, or comparable home sales in a specific neighborhood we strong recommend Zillow.http://www.zillow.com/.

If you are going to list a home with a real estate agent, get a written proposal from three competing agents, in order to see how much each one is willing to do, in the marketing of your home, and make certain the proposal includes what it will cost you. As we have said before, why sell your home, if you are upside down, or owe more on the home than it is worth, if the home can be rented for at least enough to cover the mortgage payment, taxes, and insurance?

    Don’ts

•  Don’t hire an just because they are a relative, or if they have no experience. Hire someone who knows what they are doing.
• Don’t lock yourself into a long term listing. Give yourself an out. We recommend listing periods not to exceed 90 days, after which the listing must be renewed by the seller. In this way, if you are not satisfied with the agent you can move onto another agent or firm.
• Don’t get hot boxed. Frequently homebuilders or unscrupulous real estate agents will play a game called “if you don’t make an offer immediately, the house will be gone”. If you have done your research on home prices in the neighborhood, you will know what is reasonable, and what is not. Don’t get high pressured into such an important decision.
• Don’t allow your agent to not put your home in that areas multiple listing service, when you list your home (also known as a pocket listing). Some unscrupulous agents will do this as a way to get the commission on the buyer and seller sides of the sale. This is also known as “getting both sides of the deal”, and may indicate that your house has been listed for less than fair market value-so the agent can make more money quickly.
• Don’t play games with what you think your house is worth, or what you think you can get for it. Listen to your real estate agent, and check the sales prices of homes in your neighborhood. Do you own homework, before you buy or before sell a home.