No matter if you are buying or selling, finding the ideal real estate agent is absolutely crucial to making sure that the process runs as quickly and smoothly as possible while saving both time and stress along the way.
Finding a suitable real estate agent requires careful due diligence – asking for referrals, conducting your own research and verifying they’re licensed.
Ask for Referrals
Referrals are a key differentiator in the real estate market and top agents utilize them as part of their marketing strategies. Referrals help agents build their brands, increase visibility on crucial online platforms, and secure powerful testimonials that they can leverage in marketing materials.
Asking for referrals may seem intimidating at first, but with practice it will become easier and one of the most efficient means of expanding business.
Start by setting up your office and marketing materials with referral-ready capabilities, making it easier for former clients, friends, and family to create personal connections with you in order to recommend your services.
Once your agency is set up for referrals, it’s time to turn it into a habit and ask for referrals regularly. Take a look at these tips on how you can start using this strategy immediately:
Client appreciation events are an effective way to show our gratitude and say “thanks” to past clients for doing business with us. Events can range from inviting them out for lunch at a park, or hosting an extravagant golf outing complete with prizes and giveaways.
Keep interacting with past clients even after they close on their home, since a referral could come from them unexpectedly. Engage them by hosting an annual event honoring all their past transactions or by creating a blog and sending regular market updates – these strategies could all work effectively.
Your past clients should also receive something personalized from you – maybe a wine bottle or gift certificate to their favorite restaurant. This will remind them who helped them find their home, and encourage them to think of you when referring others in the future.
As soon as the transaction has closed, don’t forget to send them a thank-you note or email! Even something as simple as a card or handwritten note would suffice!
Do Your Research
Before selecting a real estate agent to represent you in buying or selling a home, it’s wise to do your research thoroughly and research agents carefully in order to avoid mistakes, obtain the best price and ensure a smooth home-buying or selling experience.
Look closely at their business style and response to negative reviews for an idea of whether or not they are suitable. This will give you a good indication as to if they will meet all of your requirements.
Zillow and Trulia can help you quickly identify agents in your area who have been pre-vetted, with tools to compare reviews, number of homes sold and other data points. But you should do additional research yourself to verify all information is accurate.
Additionally, you should verify their credentials and experience to make sure they have the training and expertise to sell your home successfully. You may want an agent who specializes in particular fields, such as investment property or luxury home sales.
Agents with extensive market experience are invaluable resources in terms of keeping up with potential changes that could affect the value of your home, such as planned grocery stores or playground parks being developed nearby.
Check a potential agent’s experience working with clients who share similar needs as yourself. For instance, if you’re purchasing a home for yourself and family, make sure they have experience helping first-time homebuyers or buyers who wish to downsize or retire.
Once you have your list of potential agents, conduct interviews with each one individually in order to gauge their communication and services provided. Remember, you’ll likely spend considerable time working alongside these professionals; choose someone with whom it will be easy for you to work who will answer all your queries efficiently and promptly.
Another way to find the ideal agent is by soliciting recommendations from friends and family. Their insider knowledge can provide insights on which features made an agent great vs which didn’t.
Make Sure They’re Licensed
No matter the stage of the real estate process you are at, working with a licensed real estate agent is crucial to ensure an easy transaction and the protection of your interests.
Verifying an agent’s license can be done online or by contacting the local real estate commission. Furthermore, asking an agent for a list of properties they’ve sold gives an excellent indication of their sales history.
A licensed real estate agent can be invaluable in helping you navigate all aspects of the real estate transaction from finding the ideal home to negotiating offers and finding mortgage brokers, escrow agents, and inspectors to ensure a seamless transaction.
Real estate agents must also be insured. If you are uncertain as to their insurance status, contact your state’s real estate commission for more information and find out when licensing applications will open up in their state.
Ideal, select an established real estate agent as this will give you an indication of their commitment and quality of service.
As is the case when selecting any real estate agent, choosing one familiar with your target location is also key. They will have greater insight into local neighborhoods, schools and property values – thereby saving time and money over time.
Another essential consideration should be selecting an agent with experience working with clients similar to yourself, particularly if this is your first-time purchase or your situation requires specific assistance – for instance after foreclosure or when moving states.
An outstanding real estate agent should be able to explain all aspects of the real estate process, including costs and timeframe. They should also assist with financing, insurance, inspections, construction or zoning needs.
Get a Written Contract
When purchasing or selling real estate, having a contract in hand is one of the most essential documents. A properly drawn up contract can mean the difference between a successful deal and one that fails completely.
As part of your real estate transaction, it’s crucial that you understand how a contract operates and which terms and clauses are valid – this will enable you to avoid common errors and ensure you remain protected during the process.
Purchase and sale agreements are the main type of contract signed between buyers and sellers, although there are other forms they could sign, such as state/association purchase agreements, general purchase agreements or property specific purchase agreements.
Many real estate contracts include riders that allow parties to tailor the terms to particular situations. Examples of riders include agreements on homeowner association rules disclosure and FHA financing as well as seller assist, which enables a seller to cover some or all of a buyer’s closing costs.
Listing agreements are another essential contract, between you and your real estate agent or broker, that outlines all the details regarding your listing on MLS, including who will list it and when.
Once you sign the listing agreement with your agent, they can begin listing your house on the market. This step of the real estate process can be particularly stressful and time consuming; to make things as seamless and stress-free as possible.
Remind yourself that your agent is there for you; be respectful of their time and efforts by not pressuring them into making decisions quickly; this may cause them to lose focus on what matters, leading them to give less-than-optimal results for you.
A reliable real estate agent should guide you through the entire process and explain any contracts or documents to be signed. They should also offer advice on how to negotiate the best deal and keep yourself protected during this process.
When negotiating a deal, meeting in person with your real estate agent is recommended as it allows both of you to form an initial relationship and ensure you share similar goals for what kind of home they would like to buy or rent.