For many buyers and sellers the prospect of dealing with a agent brings forth unknown fears. Though some agents are genuine and reputable and consider their clients best interest as their top priority, there’s no dearth of unscrupulous individuals either who are just trying to produce a quick buck at someone else’s expense. As a buyer or sellers of home, it’s your responsibility to choose a estate agent prudently. So, this is a look at what you should know about real estate agents before you approach one.
What does a agent do?
Depending which side he is employed by (the buyers or the sellers), the realtor acts as an intermediary between the client and the vendor and helps to accomplish the sale of a property. For his services, he is offered a commission from his client (seller, buyer or both). When working on behalf of the vendor, the agent is accountable for putting the facts of home in the multiple listing services of the location and undertaking other efforts such as home staging to promote the property.
In case of a residential property, a agent may start by adding the facts of the property on his personal or company website according to whether he is an integral part of a realtor firm or works on his own. The next step should be to market the property through postcards and advertisements in real estate magazines offline in addition to online.
Besides marketing the property, the agent who lists your house is also accountable for following up with other agents who could have clients that could have expressed fascination with the property. A realtor is also supposed to assist you negotiate the best deal possible. He/She is with you every step of just how till the house comes; advising you on all matters including procuring the services of a lawyer.
When working from the seller’s side, a realtor is accountable for rummaging through the property listings of a location that his client is interested in. He coordinates with the agent handling the property on behalf of the vendor and arranges to exhibit the premises to his clients. A agent from the buyer’s side also really helps to negotiate the best deal for his client and is with the client through the purchasing process. He is also accountable for approaching a specialist to get a property evaluation done. Some real estate agents may also provide other services such as advice and help for procuring home loans.
Real estate agent can don three mantles that of an intermediary on behalf of the vendor, the client or a dual agent. When buying a house, it could be best to hire the services of a real estate agent who is able to work with your side, exactly the same is valid when selling a house as well; you’d be better of approaching a agent who works for sellers.
The Sellers Real Estate Agent: A realtor working on behalf of the vendor could have his loyalties towards his client an he/she will attempt his hardest to convince the vendor to give his client the best deal. So, as a buyer if you’re to ask the seller’s agent if his client would accept an increased deal, he will soon be obligated not to divulge this information to you.
The Buyers Real Estate Agent: Similarly agents who work on behalf of the vendor owe their responsibility to their clients and will attempt to get their clients the best deal possible. So, they will not be willing to provide information on how low their client should go when it comes to the price.
While real estate agents are in the business of marketing properties, it’s not uncommon to allow them to play up their credentials; all things considered, it’s you London property for sale r dog eat dog world and there is unquestionably no dearth of realtors in the market. While this really is acceptable, some people resort to lying blatantly about their accomplishments and often their customers end up spending money on their tall claims.
So, be sure that you check all of the claims which are being produced by a potential estate agent. Do not hesitate to ask for references. If he hasn’t mentioned his experience in the brochure, ensure it is a point out ask him about it. Also, inquire about other properties he could have sold that have been just like one that you wish to sell/buy; this would include properties in the sane area, of exactly the same size and price range.