Finding the Realtor That’s Right for You
By Penny on Aug 11, 2014
You're looking for a new home, but you also need to sell the one you're currently living in!
Most people who are hoping to sell their home will trust a professional to handle it, but do we really know what we’re hiring them to do? Hiring a realtor should not be taken lightly, because the difference between hiring the right agent from the wrong one could mean a significant increase (or decrease) in potential monetary profits.
Hiring a realtor who is familiar with your neighbourhood is incredibly beneficial, because they will be able to sell your home at the right market price and they’ll know the types of families that live in the area.
Knowing what houses in the area sell for can prevent you from listing for extensive periods of time; the realtor will be able to guide you with this, but be careful not to fall into a trap that will cheat you out of making more money! Though many realtors emphasize quick closings, this may not actually benefit you, so it’s important to find a realtor who will keep your best interests in mind at all times. For example, what may mean a $10,000 difference for you, may only mean a $300 increase in commission for them. So, it’s possible your realtor may not recommend holding out for more, even when you can probably get it. Vocalizing what your needs are will help your real estate agent attain those results, and ultimately, you’re still in control of the sale and can decide whether to accept the offer or hold off for another.
Another little known fact is that commission rates are usually negotiable. Real estate agents typically do have a “standard” rate, but many are open to negotiation. So make sure you shop around, finding realtors who will accept your offer might prove to be easier than you thought. One of the best ways to ensure you’re getting the most for your money is by offering a contract that relies on doubling or tripling lower commission rates; if you offer 2-3 percent, that could increase according to whether the sale price meets the asking price and/or exceeds it. The bottom line is that agents want your business, so make them work for it!
It’s also important to clarify who you will be dealing with primarily or exclusively; with many realty companies, agents can work interchangeably, handing work off to colleagues or administrative assistants, which can get confusing for some sellers. Asking how many clients they are currently representing can reveal the agent’s work ethic, busy agents are typically the most successful because they spend full-time hours working in the industry and have made a career out of it. Asking how many homes they have closed in the neighbourhood as well as asking for references from previous sellers is also within your rights to request, be selective!
Watch this video for more information about finding a realtor that keeps your best interests in mind.
Good luck finding the realtor that’s right for you!
