The real estate business is a lucrative one and there are good things and not so good things to know about it. The fact that the market is thriving is due in no small part for those highly experienced and skilled agents who know the market inside and out and enjoy success on a regular basis as result. However, there are also beginners in the business whose integrity is yet to be proven and are more prone to make unfair financial gain. So finding the right agent for you means finding the right balance of ethics, experience, knowledge and a character.
Now let us get into three helpful tips to help you find your guy.
Do Your Research
Let us assume you are looking to sell your home in Victoria, Australia, specifically in Pakenham. As you type in ‘real estate Pakenham,’ you will come across the list of properties in that are on sale along with their corresponding real estate agent. Any of your associates who have done business with them should be able to give you an accurate account of their overall competency. This includes elementary things like if they maintain communication, how they deal with any problems, and if they are well informed about the property being sold and keeping a weather eye for better compromises.
Apart from personal contacts, you can also consult a professional opinion from people who regularly deal with business matters concerning real estate. Such experts include bankers, lawyers, accountants etc. They will be able to paint a much clearer picture on the professional skills of whatever agent you are considering.
If You Have Any Questions – And You Will – Fire Away
It is totally ok to ask an agent point blank about their CV in real estate.
- How many clients have hired them in the past?
- How many properties have they helped sell or purchase.
- How big is the demand for their services?
- Have they done sales with properties that are similar in design and detail to yours?
- How well informed are they about the market for properties like yours?
- How familiar are they with the banking process and legal requirements involved?
Ultimately, you want to choose an agent who has all the right answers to these questions but also have enough time on their hands to sufficiently devote themselves to your sale. It is important to note that the majority housing sales happen between an agent each for the buyer and also the seller. So you need to know that your agent can put their best foot forward when articulating the condition of your property to the other.
That catch here so to speak, is that real estate agents earn their money via commissions and that can only come from a successful sale. So all kinds of sentiments can heavily influence you’re their advice to you. For instance, they may persuade you to settle for a lower price so that they can move on to other projects or they might recommend some expensive refurbishing that does little to improve your chances of making a decent sale. All of this is deeply unethical and uncharacteristic of professional agent. As a client, you have every right to clarify things further and not take them at their word.
Know what you should be looking for in a competent real estate agent and you will be able to do your sales and purchases that are well worth the trouble.