How Critical is the Right Real Estate Agent? (Part 2)
Now that you understand the basics behind why a real estate agent is the most important asset you could have during the buying or selling process, it’s a good idea to learn a little more about what different agents can do and how they differ. You know that buyers benefit well from agents because they can work with an expert in the area that will know about recent listings, suitable neighborhoods, and how to know what you can afford in a home.
Sellers benefit from a great agent by being paired with someone that can help appropriately price the home, finding serious buyers, and help with negotiations and closing legalities. Now it’s time to learn more about how agents differ and how to choose the right one for your needs.
Types of agents
As you can probably guess, you’ll either be working with a buyer agent or a seller agent. Depending on whether you are the seller or buyer, you’ll work with someone representing you while they work with the other party’s agent. You may also run into a dual agency where one agent represents both the seller and the buyer in the transaction, but that is really rare since there would be a conflict in responsibilities.
Another possibility is working with an eco-broker that specializes in “green” living which would help you to find properties that are more eco-friendly in things like indoor air quality, sustainable building materials, and benefitting from tax credits for green projects.
The buyer’s agent will represent a buyer in the transaction and they work under commission after closing. The seller’s agent will represent the seller in the transaction and is sometimes called a “listing agent.” This person is responsible to the seller by working on the best possible price and terms in the deal. Your agents and brokers will require a commission on your transaction at usually about 4-8% of the sale price dependent on the home’s value and the market conditions.
You may also notice different terms like real estate agent which is the salesperson, and real estate broker which is an agent that has additional credentials through passing a state broker’s license exam. If you see different professional designations like ABR, CRS, GRI, or NAR, keep in mind that these have different meanings too on what types of certifications an agent has received.
Picking the right real estate agent
It’s so important that you pick the right agent but it can be stressful when you are taking your best guess on choosing. That’s why many are using Elitereferral.com to do the matching for them. Rather than hoping for the best when you’ve been referred by a friend or online searching, Elite Referral works to make sure you are paired with someone that is well-suited for what you need.
You can also feel confident about your selection by interviewing the agent in advance; ensuring that you feel confident about his or her communication skills, and to discuss what your needs would be to make sure this agent would easily handle your requests.
As you can see, choosing the right real estate agent means everything to your success in the buying or selling process. Make sure that you are choosing a great agent when buying so that you can find the right properties for you and negotiate well depending on any contingencies of the home. Choose the right agent to work on your behalf while you sell so that you can protect the home’s value and find buyers that are serious and a great match for the property. Use this guide to understand the differences in agent’s specialties and how to choose the right one for you.
Click here to read The Right Real Estate Agent (Part 1)