Things to look out for when hiring a Realtor
Real Estate

Things to look out for when hiring a Realtor

Selling or buying a house can be quite a hassle, especially if you don’t have the necessary skills and knowledge. A realtor can help you get the best deals faster and more conveniently. When looking for a real estate agent, you need to consider some critical factors. For example, how well do they know the area? What marketing tools do they use? How good are their negotiation skills? In this article, we will discuss some of the things to look out for when hiring a realtor.

Extensive Knowledge of the Neighborhood

Every market is different. You want to find a real estate agent who knows the ins and outs of the local market. They should understand the market trends in your specific locality so that they can guide you effectively. It also helps if the realtor has experience in real estate investing; this way, they know more about the buying and selling process.

To find out whether your realtor has adequate knowledge of the real estate market in your locality, you can ask about:

  • The unique trends in the local market
  • The average sale prices of property in the area
  • Local amenities
  • The average time it takes to find buyers for listed properties
  • Local planning regulations

Networking

It’s in your best interest to work with a realtor with a valuable network. Aside from helping you find the right home at a friendly price, your real estate agent should help you establish networks for the future. They can refer you to a reputable real estate lawyer, an appraiser, a mortgage broker, or even a reliable moving company.

Marketing Tools

Many real estate agents will list houses on MLS, and that’s it. They won’t put any effort into marketing their propertie further. When looking for a real estate agent, it’s essential to find one that understands the power of marketing. Your realtor should have the skill, knowledge, and marketing tools to reach a broad audience in a short time.

Find a realtor who uses digital marketing, open houses, email drips, open houses, and other forms of marketing to promote property listings. With these tools, you can rest assured that your property will find a buyer in a short time. Using different platforms to market also show legitimacy of the realtor.

Problem Solving Skills

Problem-solving is a skill you cannot do without if you’re managing tenants or looking to sell a house. Hiring a realtor with remarkable problem-solving abilities allows you to find a professional who understands the common problems in the real estate market and how to solve them.

Attention to Detail

You cannot afford to make omissions, errors, or any other type of mistake when selling or acquiring property. Missing documents and errors can blow an entire deal and cost you a lot of money. Hence, it’s imperative that you find a detail-oriented realtor. He or she should do their homework to ensure you don’t miss a single detail regarding the property you want to buy, rent out, or sell.

Regular Communication

Selling and buying real estate is a time-sensitive process. A real estate agent with poor communication skills can frustrate the process and waste valuable time. Hence, you need a realtor who will keep regular contact with you and update you about the current market conditions.

An excellent realtor understands that some information might seem obvious to them, but not to the client. He or she will try their best to keep in touch with the client and convey relevant information without fail.

Negotiation Skills

When looking to invest in real estate, you need a good negotiator on your side. Weak negotiation skills can make you miss out on favorable deals.

A skilled negotiator will help you save money regardless of whether you are the buyer or the seller. They will ensure you get the best prices throughout the entire process of acquiring and selling property. Also, they will make sure you get terms that you’re comfortable and satisfied with.

Your realtor should ensure that the negotiation process is not only favorable to you but also peaceful for all the involved parties.

Quick Response Time

Look at the time a potential real estate agent takes to respond to your questions and inquiries. If they take long to get back to you, there’s a high chance they will do the same with other customers. Hire a realtor who strives to deliver timely responses. On average, they should respond within 24 hours.

Integrity

A realtor can have all the traits in this article, but without integrity, they’re nothing but a time bomb. You need to find a real estate agent who will be honest and transparent with you. You can tell the integrity of a realtor through testimonials of previous customers. If other people have had bad experiences with your realtor, you shouldn’t expect your experience to be any better. Interview previous clients to get information regarding the honesty, trustworthiness, and customer service of the real estate agent you want to hire.

Tenacious

A professional real estate agent understands that not every house will sell. Before buying a house, the average buyer looks at ten home listings, over ten weeks. Therefore, your realtor should have perseverance enough to keep looking for suitable buyers even after weeks of failing to close any deal.

Licensing

One of the best ways to separate bad real estate agents from the good ones is to check for licensing. Your realtor should be certified and licensed to sell, buy, and help rent out a home in your area. A licensed real estate agent will have an easier time getting approval for property paperwork that their unlicensed counterpart.

To become a licensed realtor, one must:

  • Be over 18
  • Have legal residency
  • Complete the pre-license education required in your state
  • Pass a real estate license examination

Judging from these prerequisites, hiring a licensed real estate agent somewhat guarantees that you have a knowledgeable professional to help you out.

In Conclusion

Hiring a realtor is vital for anyone looking to buy, sell, or rent out a property. When looking to use the services of a real estate agent, you need to put some things into consideration. You have to find an agent who meets all the requirements highlighted in this article. Take your time to evaluate the realtor you wish to hire. A good real estate agent should strive to save you time and money, and help you get the best deals in the property market.