Choosing The Right Real Estate Professional
Buying or selling a home is a major event in anyone’s life. It can also be a fairly daunting task. Choosing the right real estate professional will help you make the most informed decisions regarding the purchase or sale of a home, while relying on a professional experience and expertise to help you navigate the legal aspects of such a transaction.
A friend or family member license as a real estate professional should not be considered enough to establish their credentials. You should select your real estate professional the same way you would an attorney, a doctor or an accounting. Look for someone with experience and a proven track record. Do not be afraid to ask for references. Find out how recent clients feel about their experience. Should a problem arise, you will be glad you have an experienced professional on your side.
Beware of real estate professional who are asking for a very low commission. In this industry, as in many others, you get what you pay for. A cut rate commission may only give you a sign on the front lawn and a listing on the Multiple Listing Service, and very little more. A real estate professional earning a full commission is more likely to invest funds to market and advertise your property. He or she is also more likely to “drop everything” to handle a challenge.
Do not be fooled if a real estate professional promises to hold open houses every week. Open houses to sell homes, but usually not your own. More often than not, an open house is a way for a real estate professional to meet potential new clients. A good professional will not focus all their efforts on a public open house. Rather he or she will try to market your property to other real estate professionals who in turn will try to match your home with one of their clients’ needs.
You may want to be wary of real estate professionals who advertise themselves as “top producers” and “number one agent with the most listings”, etc. Consider this: which professional would be more valuable to you. The one that had 30 listings in the past year but only sold 20 of them or the one that had 12 and sold all 12? You need to ask your potential real estate professional how many of their listings did not sell, how many needed to have price reductions before they sold, how long were the houses on the market, etc. Just remember that while quantity may be important, quality will benefit you more in the long run.
Let’s not forget how important a good real estate professional also is during the purchasing of a new home. Many buyers, more often than not first time buyers, will search for a home on their own with the help and advice of a real estate professional. This is counterproductive because, not only will a professional be able to access listings that may not be readily available to the general public, he or she will do so free of charge. Real estate professionals representing buyers are paid by the selling party so there are not costs whatsoever to the buyers.
Choosing the right real estate professional is a very important decision. Almost as important as the purchase or sale transaction itself. The right real estate professional will be able to help you navigate all the steps, obligations and responsibilities involved in the purchase or sale of a home. Think of your real estate professional as a “coach” who will help you make the best decisions possible while protecting your interests.