When we think about buying a new house, or apartment, we usually need help from a person who knows exactly how the process of buying and selling a property is. It is precisely there when the figure of the realtor comes into play. A realtor is an individual or institution that organizes transactions between a buyer and a seller for a commission when the operation is executed. That is, it is the agent that acts as broker or intermediary between a buyer and a seller, usually charging a commission and becoming a director of the part of the agreement. In addition to this, he is in charge of advising and advising on topics related to the business. Now, how do you know if the realtor you are going to choose is good or not? In this guide, you will get tips to choose the right person.
Local experience is key because real estate markets change from one city to another with differences, even within the city or in the suburbs. So, you have to know the area covered by the real estate agent to determine if he has local knowledge about the real estate market, where your property is located. One way to do this is by contacting an agent and before revealing where your property is located, ask the realtor the areas they cover. An additional advantage of working with an agent who has local knowledge of an area is that they have the most informed opinion about the true monetary value of your property, and can help avoid a situation where your property is sold below its real price or its opposite extreme.
We recommend working only with real estate professionals. It will be something more professional, but you can be charged a higher rate. Ask how long the agent has been actively selling or renting properties. The more experience they have, the better. Specifically, you need an agent that is the most experienced in selling or renting properties in the area where your property is located.
If a real estate agent has experience, he or she will have clients who have served in the past. Ask the agent that you would like to see the comments or recommendations of previous clients. In the same way, you want to know what was the sale price of the property of each one and the time each property spent in the market before it was sold.
A professional agent will be aware of most (if not all) properties available within the area he or she covers. It is normal for agents to know about other properties that are available in their area. You can try the agent’s local experience by talking about a property you recently sold, and so you know what’s in the same area as your property. If the agent recognizes the property and can give you some details, then it can be safely assumed that the agent knows your area.
The agents live on the commission, which is a percentage of the price of a property when it is sold or rented. That is, they make money only when they are able to sell or rent a property. And you have to talk about this from the beginning with the agent. Ask the agent to give you a breakdown of what he or she is going to charge you for closing. If you think there is a high demand for your type of property, you will have some bargaining power to negotiate the reduced commission. However, you will have to be careful not to negotiate too much, so the agent is recommended to obtain optimal results. If an agent charges well below the normal commission rate, it can be an indicator of possible poor-quality trading by the agent.