Selling your home is a significant financial decision, so you will want to hire a competent team of professionals to make the process seamless. It would be best if you had a Realtor to handle the seemingly daunting task of understanding the market, interpreting legal documents, and getting the best deal out of the transaction.
Most likely there are plenty of Realtors available in your area. The hard part is finding one that best suits your real estate needs. While an agent may be strongly recommended to you by friends or family members, it is worth assessing if they meet your unique needs before you consider them as ideal.
Working with an experienced and trustworthy Realtor who understands the ins and outs of the market can go a long way in ensuring that your property sells at the best price in the market. There is no formula for finding a Realtor, but here are some qualities to look for before hiring one.
License and Good Standing
The first step in filtering the best Realtor is by determining if they have been accredited to operate. Therefore, it is necessary to check with the national accreditation bodies to ensure that the Realtor has the essential licenses. Realtors who have been registered with government accreditation bodies and other independent bodies are highly likely to offer high-quality services.
Knowledge of Location
Nobody understands a location better than a local. Can your prospective Realtor answer questions about the cost of living in the area, weather and climatic conditions, available amenities, access to transport services, and commercial centers?
Ensure to have a Realtor who properly understands the location and the neighborhoods can provide all the information adequately and accurately.
Ability to Communicate and Listen Effectively
At the core of a competent real estate realtor is their ability to listen and communicate effectively. You want a realtor who responds on time and is honest to a fault. The last thing you want is a realtor who will give you false expectations about your home only to dash them later. Whether the information is pleasant to you or not, it is in your best interest for them to call it as is.
On the other hand, it is easy for Realtors to get into the business and make an offer. However, there is more than that, the buyer wants to feel they have been understood and their needs met. In contrast, you need to work with an enthusiastic and persuasive Realtor who is capable of charming a buyer into signing the sales contract.
Some buyers are always on the lookout for the lowest prices, even when the property’s market value is clearly beyond their offer. A competent real estate can represent you fairly as the seller, without the need to call out those who quote ridiculous prices. Always find a Realtor who exhibits professionalism, and an aura of authority, turning disapproval into a win-win situation for both parties. This kind of Realtor will know when the deal is worth every effort, and correspondingly walking away when it is not.
Local Market Expertise
Every market has distinct characteristics that make it different. You will need a realtor who fully understands the local market trends and can guide you through the local market nuances. An excellent way to test the Realtor’s local market knowledge is by asking them basic questions such as: What’s the average sales prices for properties? What are the latest trends in the local markets? How long does a newly listed home take in the market?
Reliable realtors can demonstrate their knowledge in the local housing market, even in how they turn downside threats into opportunities. They can use historical data to analyze current market trends to make intelligent future predictions.
So how exactly does the Realtor plan to sell your home? Be sure to ask the platforms they intend to use to ensure that the property’s listing reaches the highest number of potential buyers.
The most convenient place to find portfolios of Realtors is online. Statistics from the National Association of Realtors show that 90% of home buyers use the internet to search for home listings and offers. Therefore you should find a Realtor who can leverage the trends in technology to give the most significant exposure to the property you are selling.
You will want to pick a real estate professional that has a proven rate of success. An excellent way to start is by browsing through their profiles online and their reviews as well. Make sure to check a report of the Realtor’s sales over the last year or more to know the kind of property they sell. You may also want to confide with friends and family to find out if they had a good experience with the local Realtor.
The accuracy of the Realtor’s pricing can help you gauge their level of skills in this area. Ask about their average list price to scale-price ratio and the amount of time it takes to close a deal. Make sure to choose a Realtor with a solid record of getting buyers into homes fast and getting them a great deal.
Problem Solving Mindset
You need a real estate agent who understands the client’s worth to the industry and can handle issues that may arise when selling the property. Besides, a competent Realtor creatively finds solutions to any situation that may hinder you from obtaining successful transactions.
Eye for Detail
Make sure to pick a professional who can spot any downsides to a sales contract and advise on how to resolve it.
Contracts and Connections
To get the most from the real estate industry, you need to be well connected with a network of professionals, ranging from contractors to builders, painters, plumbers, and more. For this reason, it is best if your Realtor has plenty of contacts to help you out with anything your home might need before selling it. Besides, having many connections is likely to help in finding potential buyers.
If you have tried to buy or sell any property before, you must have realized that closing a real estate deal relies heavily on your personality. Therefore, the Realtor you choose has to have an engaging persona to keep the client interested in the property.
Expect to pay the Realtor somewhere between 5% and 6% of the home’s sales price. However, this may vary depending on many factors, including the selling price of your home.
Your Final decision in choosing the best Realtor should be based on the above factors as well as other subjective factors such as how you feel about them and how organized the Realtor seems. Watch how the Realtor conduct themselves professionally. You don’t want to work with a realtor who is consistently late for all your meetings or gets interrupted by multiple phone calls while in a meeting with you.
With a 3-6% commission on the line, make sure to pick an agent who has your interests at heart- one who is bold, communicative, and is willing to use every avenue possible to get your property sale completed.
Once you have found the agent you want to work with, draw up a formal agreement that outlines all the details, including the commission you will pay. In case you do not fully understand the documents seek clarification first before signing them. With respect and courtesy on both sides, you and your Realtor can smoothly navigate the process of buying a home.