Having a compatible and trusted relationship with your real estate agent is a prerequisite for getting the desired result out of your exciting hunt for property. It all starts with a quick interview session between the realtor and prospective buyer or seller to understand the requirements, expectations, budgets and lifestyle standards. This opportunity can also be used to analyze and question about the credentials, experience, and expertise offered by the real estate agents. Choosing the right realtor can be really challenging considering the fierce competition among real estate companies, agents, and brokers. The best way is to first get the basic understanding of the market trends, prevailing rates, listed hot properties etc. through online reviews and informative websites like www.realestate.com.au. This way you would be in a better position to negotiate the terms and check the authenticity of real estate agent.
A stepwise guide to choosing the right realtor is as follows:
Step-1: Try to get references of their previous clientele
Feedbacks and testimonies of people you have availed their services in the past, help you to build confidence in the services of the agent. Few tips from the references can guide you with deciding the terms with the realtor in your best interest.
Step-2: check their qualification, credentials and licenses
It is essential that they have all required licenses required to function in a location, to avoid any delay and legal hiccups for you in future. Having membership of established association like realtor board is self-explanatory about their past work and experience. Depending upon your need you can choose from specialized certified professionals.
Step-3: Enquire about their listing inventory and network in the real estate market
Review their past and current listings and compare it with the sought of properties you are looking for. You can always ask them to share their current listing inventory to get an idea how popular they are in each area. Since the real estate agent’s profile requires a lot of coordination and relationship building with various statutory authorities and other players in the market, your agent having a strong network can be beneficial for you to get your work done quickly and efficiently.
Step-4: Know about their commission and guarantee offered
Agents charge certain percentage ranging from 1% to 4% for each side of the transaction. Depending on their specialization this percentage may increase. Try to negotiate their commission component as there is the scope of discussion considering the intense competition in the real estate market. Also check if they offer an option for agreement cancellation as per their company policy, in case you are not satisfied by the arrangement made.
Certain details which your agent should provide you with include access to recent market sales and property appraisal rate in the area of your interest. Contact with a large number of buyers and analyzing their credentials to identify potential leads. Transparency to advertising and marketing strategies, advise on the appropriate mode of sale and most importantly efficient administration of all the financial, legal and documentation issues on your behalf.