Renting or owning a place is a lot of hard work. In fact, just getting a home is a lot of hard work. Why do you think real estate agencies exist? They're there to make the process of finding, buying, or renting a home that much easier. Of course, since your residence is on the line, you ought to choose the right real estate agent for you! There are a lot of factors you need to consider first, including their experience, how well you communicate with each other, and their reviews, among many others. Here's why!
For Buyers
What's Their Experience?
Firstly, you have to look at their experience. Just like how an employer looks at an applicant's experience, you ought to know what the agent has achieved. Do they have famous clients? What kinds of homes have they worked on? Have they sold many homes in the area you're interested in? These are just some of the questions they ought to answer to convince you to hire them. Remember that in this situation, you're the boss. It's only natural to look through a real estate agent's experience before working with them.
How Do They Communicate?
You also have to see how they communicate. Are they available through text or call? What about when you want to set up a meeting? Are they free to accommodate you as best they can? When buying an apartment, a house, or any other type of property, communication is key. Especially since, more often than not, the other party will mostly go through your real estate agent. So for the most part, it's your agent who's more up to date than you. And to keep yourself well-informed, you ought to communicate with your real estate agent as much as possible.
How Much is Their Commission?
A real estate agent's salary depends on the commission they'll earn from you. And that commission is split between your real estate agent and that of the other party. With this in mind, you can expect that they'll want a good chunk of the money. But how much of it? While the commission percentage varies, you have to be careful not to give too much. According to
Investopedia, standard commission percentages range around 4% and 6%. If your real estate agent suggests something much higher, there's a good chance you're getting scammed!
What Do Others Say About Them?
And finally, you have to consider what others say about them. Going back to looking at their experience, you should also look into their reviews. It's even better if you could talk to people who've been their clients. They're your best and most reliable sources on how well a real estate agent really works. Did the former clients find the right property? Were they satisfied with the agent's work? Are they happy with their property now? Most reviews would include the answers to all these questions and more. So before hiring a real estate agent, read the reviews first!
For Sellers
How Available are They?
If there's one thing a seller needs in a real estate agent, it's availability. For instance, if you're planning on selling your
luxury home in Los Angeles—which is likely extremely expensive—you'll likely need to meet your agent often. You ought to know that the best way to communicate is to meet up in person when it comes to legal matters. Only then will you fully understand the matters at hand. And in this situation, your real estate agent has to be at your beck and call. It's too shady if they can't meet you as often as you need!
How Do They Market Their Properties?
It's important to note how a real estate agent markets properties. Remember that when you're selling your property, marketing is key. How else will potential buyers discover your home? You will want a marketing wiz for a real estate agent to ensure that you will meet the best buyers. After all, this was once your property. It's only natural you want to leave it to the proper hands. And that will only be possible if your real estate agent will market it well. It'd be great if they'll hire professional photographers to take great shots of your property and post them on the
top property listing websites in France, Italy, the US, or wherever your place is!
How Much is Their Commission?
Again, before hiring a real estate agent, you need to know how much they'll charge you first. As already mentioned, the standard commission percentages range from around 4% to 6%. If your agent proposes a higher percentage, they better be prepared to justify the price. Of course, depending on their experience, work ethic, and the like, you might find them worthy of such a commission. But to be safe, try to negotiate and meet halfway. If you can't see any justification for the high commission percentage, just look for another real estate agent to work with.
What Do Others Say About Them?
Always trust the reviews! Find out how well your real estate agent has worked with their former clients. Were they happy with their partnership? Do they feel that they were scammed? Were they able to sell their property at a good price? Did they get into trouble along the way? Just to be safe, it's better to consult an agent's former clients on whether they're worth your time and money. On their websites, try to read as many of the reviews as possible too! Only then will you feel secure about working with your real estate agent!
The right real estate agent will ensure that you'll get your hands on a great property or that you can sell your own to the right people. But before you choose to work with one, there are many factors you need to consider.
