Whether you’ve ever bought or sold a home, or have simply been nosy at what your neighbors’ houses are worth, chances are you’ll have crossed paths with the middle man of the housing market; the real estate agent or agency.
But as much as you may be familiar with the concept of real estate agencies, you may still be unsure about what exactly makes an agency, the right agency for you. So, here is a little Q+A on what you may be asking.
As experts in local real estate, agents constantly monitor the market and analyse trends. An agent should offers buyers information on newly available homes in their price range and conduct tours of houses of a buyer’s choosing and offer sellers a competitive valuation of their home before sending it to market.
Obviously, if you’re selling a home as opposed to buying a home, your requirements of the agency are going to be different. As ever, it’s best to be prepared before just rolling into a shop and handing over a significant sum for their services.
Real estate agent – this is usually the person who will deal with you directly. They’ve taken classes and completed state-sanctioned exams to earn a license to mediate the sale of properties. Real estate agents are employed by a real estate broker and ultimately report to said broker.
Seller’s agent – working exclusively for the seller, this type of agent deals entirely with the sale of the property. Dual agent – this agent can work for both the seller and the buyer. Legal in most US states so long as both parties agree to this dual representation. Although, complications can arise as the agent is confronted with potential conflicts of interest when making a deal.
Your agent should be able to offer you solid information on:
Average prices of similar homes in your area. How to prepare your home for sale Advertising channels (physical or digital) Open house hosting
What types of real estate agent are there?
With regards to agents, the agents’ qualifications are identical for buying a home as it is for selling one.
Buyer’s agent – working solely for the buyer, this type of agent operates solely for the best outcome of their client; finding homes, bargaining for the lowest or closest price to the buyer’s budget, and ultimately closing the deal.
Dual agent – as above, as long as the buyer and seller agree to this representation, an agent can help both sellers and buyers in the same deal.
-Your chosen agent should be able to help you with the following:
-Analysing your priorities and find you suitable properties based on those.
-Informing you when new properties become available.
-Financing options for your budget/earnings.
-Help you with purchase offers and delivery to seller’s agents.
-Compiling other legal documentation Appraising and inspecting homes.
-Awareness of any possible problems with the properties.
-Closing the sale.
Area directories, your local shopping centers and main streets, or create a discussion on homify. You’ll receive advice from both experts and other site users who may have used agencies to buy or sell properties in your area.
Buying and selling properties can be daunting, but once you’re armed with the right information and your queries answered, your mind will be eased and your thoughts will be clear, helping you get the best deal you possibly can for yourself.