Thinking of buying or selling a house? Between 70% and 80% of the owners use a real estate agent or broker when buying or selling a house, so the choice of the right agent is essential for successful real estate transactions. Here is a guide to help you find a good real estate broker and a breakdown of how intermediary rates work.
The standard commission rate for most real estate brokers is 6%. This is usually divided between the sales agent (listing agent) and the buyer agent. However, that full 6% does not really go to the sales agent and listing agent. First go to the brokerage of the list. At that point, an agent often receives a cut of between 60% and 90%, but may be smaller.
If you are hiring an agent, it is highly recommended that you investigate your history. If that agent has an excellent track record, it might be worth paying a premium, which basically means paying the full commission. Below you will find tips to help you find a quality real estate agent.
Questions to ask before hiring a real estate agent
Selling your home is probably one of the biggest financial transactions of your life, so choosing the right real estate agent is an important, and sometimes daunting, responsibility.
Checklist for hiring real estate brokers
Tips that you should consider when hiring a real estate agent.
While there are competent part-time agents who sell property, it is essential to hire someone who can show your home at variable hours or, if you are a buyer, can take you to see properties at a time that is convenient for you. Therefore, ask your real estate agent if they work full time; those who work full time tend to take their job more seriously, and are generally more flexible when it comes to showing their home.
Find someone who offers suggestions
Knowledgeable real estate agents know what sells houses in the area, be it a group, an office or some other desirable feature. To that end, they can make suggestions on which rooms or features should be emphasized or removed emphasis. During the initial interview, ask the agent if there are any changes that can be made that make it more desirable. Very often, the best agents will make these suggestions without insisting.
Find an area expert
Hire or retain a person who knows a lot about the area; these agents will also be more aware of the typical offer and sale prices than those agents who do not normally work nearby. One way to find an expert in your area is to ask a local broker or your friends or relatives if they know someone who has sold a large number of homes and / or businesses in the area. Another suggestion is to look in real estate magazines and see which agents have the most listings in certain areas.
Sellers, in particular, should also look for agents whose personalities are related to theirs. For a home to sell quickly and at a favorable price, the part of the list and the agent must be on the same page in terms of how they will market the property, the price that will be established, and how and when the house will.
Keep your options open
Even if you have retained what you think is an ideal agent, think twice before signing an exclusivity agreement. While your agent may be competent, if you are a seller, the more agents you have that can potentially show and sell your home, the better the chances of you selling that house. Unless there are some extenuating circumstances, keep a listing agent, but insist that the property be placed in the Multiple Listing Service (MLS).