Did you know: more than 5 million homes in the U.S. are sold every year? For most people, moving homes or buying and selling property is a challenging experience, often full of surprises and setbacks.
One thing that can really make a difference in your moving experience is having a great realtor. But how do you hire one? And what are the different steps involved?
Read on for all you need to know about how to hire a real estate agent.
Do Some Research
It’s important to find a real estate agent who will work hard to find the home of your dreams. What’s more, they should negotiate the best deal possible on your behalf.
Bruce Champion Real Estate points out the benefits of a good real estate agent: they have access to mortgage tools and buying resources, as well as an excellent knowledge of the neighborhood you’re interested in.
Ask friends and family who have recently moved within your local area for recommendations. You can also search online and check out reviews for your local real estate agents.
Meet With a Few Agents
The next step is meeting in person with at least three of the agents you’ve heard positive reviews from. This is a good way to get to know their character and make sure you are comfortable working with them.
You can also find out more about their experience, and whether they have previously worked for clients with similar needs to yours. They should have a clear understanding of your budget, the neighborhood you are interested in, and the style of property you are after.
This is also the time to find out details such as their commission, as we’ll get into in the next step.
Finalize the Deal
Once you’ve chosen the real estate agent you feel confident can represent your interests and find your next home, it’s time to make official arrangements. This will mean signing a contract or agreement.
Look closely at the real estate commission: if you’re selling, you will generally pay 5-6% of the house sale price in commission, which is split between your realtor and the buyer’s realtor. Note: the commission rate is sometimes negotiable, so this is worth trying.
Other aspects of the contract to consider are the length of the contract, and whether there is an ‘exclusivity’ clause in the agreement. This would mean that you are unable to work with any other agents when looking for a property.
Once you have signed the agreement, the real estate agent will be in charge of many tasks to help you move home. These include taking high-quality photos of your current property, locating interested buyers, and determining the value of your home.
Now You Know How to Hire a Real Estate Agent
We’ve now covered all the necessary steps you need to go through when hiring a realtor. This means you’re ready to buy or sell a property!
If you found this article about how to hire a real estate agent helpful, make sure you check out our other posts!