Just like in any other profession, there are good real estate agents \u2026 and there are, unfortunately, subpar real estate agents, too. But how do you know if you\u2019ve got a dreamboat or a dud handling your real estate transaction?<\/p>\n
One way to know whether you\u2019ve got a good agent (or not) is to consider some of the tasks and activities that a really good agent will manage for a client, then apply what you\u2019ve learned to your own agent. If you don\u2019t have time to track down all of the things that a good agent should be doing for a buyer or a seller, then you\u2019re in luck: We\u2019ve compiled a list so you don\u2019t have to.<\/p>\n
ASK YOU ABOUT YOUR HOMEOWNERSHIP NEEDS (AND HOPES)<\/p>\n
It\u2019s dangerous to make assumptions at the best of times, but when it comes to shopping for a home, assumptions are downright dangerous. So if you have an agent who assumes \u2026 everything \u2026 be wary.<\/p>\n
A good agent should ask you questions \u2014 lots of them \u2014 about where you\u2019ve lived, what you liked and disliked about both the home and the neighborhood, where you work, how long you plan to stay there, your future family plans, and more. This is all to the greater good of helping you find the right place, and possibly revealing a neighborhood or property type that wasn\u2019t on your radar. So if your agent isn\u2019t trying to figure out what would make you happy by asking lots of questions about your homeownership needs and wants, that\u2019s a red flag.<\/p>\n
RECOMMEND A MORTGAGE BROKER<\/p>\n
If you don\u2019t already have a mortgage broker to help you with your loan, then your real estate agent should be providing referrals for someone trustworthy. (And any agent worth his or her salt should definitely ask if you\u2019re pre-approved, so if you haven\u2019t been asked, be wary!)<\/p>\n
Real estate agents work on real estate transactions every day, and they have contacts who can help with mortgage, title, appraisals, inspections, and beyond. Use them!<\/p>\n
GET YOU PRE-APPROVED<\/p>\n
Speaking of pre-approval, this is also something that a good agent will help you manage. Not every client will need it, but some will appreciate the additional help. Agents can give you an idea of realistic sales price tags, and they can also typically put you in touch with people like mortgage brokers or even sometimes credit counselors to help get you in the best position possible to buy.<\/p>\n
TALK ABOUT SCHOOLS<\/p>\n
You might not have kids, and you might not ever want kids, but even if that\u2019s the case, your agent would be remiss not to have the \u201cand this neighborhood has access to the best schools\u201d conversation with you. Why? Because you\u2019re not the only person on the planet, and some of the other people here who might buy your home at an unspecified future date could be parents. They are most certainly going to care about schools.<\/p>\n
Your agent should give you a rundown of which elementary, middle, and high schools service the areas where you\u2019re searching and help you decide what (if anything) to look for in a school district, even if it\u2019s only \u201cstability and longevity.\u201d<\/p>\n
GIVE YOU FEEDBACK ON THE NEIGHBORHOODS<\/p>\n
Unless you\u2019ve lived in a neighborhood your entire life \u2014 and even then! \u2014 there will still be things to learn about the place where you\u2019re buying your home.<\/p>\n
A good real estate agent should be able to answer your questions and explain how each neighborhood compares against the others. You\u2019ll probably have questions about everything from where to buy groceries to where to walk to dog to what people do for fun on weekends, and your real estate agent should help answer those questions.<\/p>\n
HELP YOU FIND A HOME<\/p>\n
You might think that finding a home is as easy as looking it up on the internet, and for some lucky people, maybe it is. But most buyers have to check out endless potentially unsuitable homes before they find \u201cthe one\u201d that\u2019s their long-term best fit, and pictures (especially on the internet) can be deceiving.<\/p>\n
An agent should hook you up with an MLS feed that will alert you when a home that meets your criteria hits the market \u2014 and agents should also help you come up with alternate strategies if the going is just too tough in your price range.<\/p>\n
PRICE THE HOME CORRECTLY<\/p>\n
For sellers, this is one of the most critical jobs that your agent will complete \u2014 and if they don\u2019t do a good job, you could lose tens of thousands of dollars. Pricing the home correctly right out the gate is absolutely vital to selling the home quickly and for fair-market value.<\/p>\n
Some agents will inflate the possible sales price and tell sellers that they can always reduce the price if they don\u2019t get an offer. Although this is certainly true, those agents are misrepresenting a bigger truth: your listing is going to get the most attention from qualified buyers within the first 48 hours of hitting the market. Price reductions after the home is listed are never going to attract nearly as many eyeballs as new homes on the market \u2014 and you may need to reduce the price well below fair-market value to generate buyer interest if you start off too high.<\/p>\n
So it\u2019s not typically wise to go with the agent who offers the highest sales price; instead, ask prospective agents how they calculated that sales price, whether it lines up with the typical price-per-square-foot in your area, and how long homes priced in that range tend to stay on the market.<\/p>\n
MARKET THE HOME WELL<\/p>\n
One reason why sellers hire a real estate agent in the first place is because the agent has a marketing platform to use to advertise the home for sale. Some homes require more marketing than others, but agents should have a plan to market every home they list. And marketing goes far, far beyond \u201cput it on the MLS, Zillow, and realtor.com \u2014 then pray you get a qualified buyer.\u201d<\/p>\n
If you don\u2019t know the listing agent\u2019s plan to market your home \u2014 or worse, if you don\u2019t think the agent has a plan at all \u2014 then that\u2019s a huge sign that your agent might not be the best fit for you.<\/p>\n
NEGOTIATE AN OFFER<\/p>\n
Once you\u2019ve identified a neighborhood and found a good home, is the agent\u2019s work mostly done?<\/p>\n
Not remotely. A real estate agent proves his or her worth on the negotiation floor, and you should expect nothing less from your agent. From landing on an offer price that seems fair to all parties, to including contingencies, to stipulating timeline, a real estate agent is your guide on the journey to buying a home, and this is where a good agent really shines.<\/p>\n
If your agent isn\u2019t really involved in the negotiation process, this is a big problem. You deserve an advocate in this home sale transaction.<\/p>\n
HELP YOU PICK AN INSPECTOR<\/p>\n
When a buyer is financed for a home loan, the lender is going to want to know that the investment is solid \u2014 that the house doesn\u2019t have any major issues, for example. That\u2019s where the inspector comes in, and the inspector will have to enter the picture before closing.<\/p>\n
Your real estate agent should help you find an inspector and answer any questions you have about whether the inspector\u2019s price tag is reasonable.<\/p>\n
ATTEND THE HOME INSPECTION<\/p>\n
For a buyer\u2019s agent especially, this should be a must \u2014 and it\u2019s a good idea for a listing agent, too. The inspector is going to look at the nuts and bolts that put the house together, from the foundation to the wiring to the exterior, and note the home\u2019s condition.<\/p>\n
Almost every home is going to have something \u201cwrong\u201d with it per the inspection; houses, like all other goods, deteriorate over time, and building codes change. A good agent will help sellers prepare mentally and financially to tackle any possible issues, and a good agent will also take note of what the inspector finds to help the buyer negotiate repairs in the deal.<\/p>\n
NEGOTIATE HOME INSPECTION REPAIR REQUESTS<\/p>\n
Speaking of negotiation: Who should pay for the repairs if the home needs a new roof or (heaven forbid) some foundation work?<\/p>\n
That\u2019s going to be between the buyer and the seller, but an agent really should be available for both sides to help with the negotiation process. There\u2019s no right or wrong way to manage repairs; some sellers will want to tackle them while others will prefer to knock some money off the asking price and ask the buyer to handle them. Whatever the case, the real estate agents should be the people managing this negotiation.<\/p>\n
ATTEND THE APPRAISAL<\/p>\n
A lot of agents do not consider attending the appraisal to be particularly pressing \u2014 and that\u2019s fine. But if the appraisal comes in under the sales price and there were no agents present to answer questions or help the appraiser figure out the home\u2019s value, then you\u2019ve got a problem that might not be very easy to solve.<\/p>\n
Many buyer\u2019s agents will make a point to attend the appraisal and make sure that the appraiser has access to everything he or she needs and can get any information necessary to complete the appraisal thoroughly. Is yours one of them?<\/p>\n
COMMUNICATE, COMMUNICATE, COMMUNICATE<\/p>\n
A lot can change between putting an offer on a home and actually moving in. The real estate agent should be the person who knows all of the different parts and pieces of the transaction \u2014 and is willing to serve as the point of communication between them.<\/p>\n
If the appraisal is delayed, or there\u2019s an issue with the loan, then the agent is one who is communicating that information to the people on each side who need to know. An agent\u2019s job is to make the transaction easier for you, and that typically means managing the messages for everybody.<\/p>\n
HELP YOU PREPARE TO BUY OR SELL<\/p>\n
As the closing approaches, there\u2019s a lot to do for both buyers and sellers who are getting ready to exchange ownership of a home.<\/p>\n
Both buyers and sellers need to pack and arrange for at least a truck to move their things. Sellers are also going to have to clean \u2014 the oven, the bathrooms, the works \u2014 before they hand over the keys, and ensure that any trash is hauled away.<\/p>\n
Your real estate agent should be sharing resources to help with some or all of these activities.<\/p>\n
STAY ON TOP OF THE MORTGAGE<\/p>\n
If the mortgage loan doesn\u2019t go through, then the sale is lost. That\u2019s why a good real estate agent will make sure that the loan is ready to go \u2014 in every way.<\/p>\n
For a buyer\u2019s agent, that probably means working with the buyer to ensure that they have all the documentation that they\u2019ll need to present to the mortgage broker, and helping the buyer track down any missing pieces of paper.<\/p>\n
And for the listing agent, that means keeping in close communication with the buyer\u2019s agent so that there are no nasty loan surprises while everybody waits for close.<\/p>\n
TIE UP ANY LOOSE ENDS<\/p>\n
There are a lot of moving parts and pieces to a real estate transaction, and a good agent is going to be there to make sure that those parts and pieces are moving correctly \u2014 and to work on anything that could be a problem.<\/p>\n
If two appraisals need to be reconciled, the inspection repairs need to be documented, or the title search hasn\u2019t happened yet, then the agent is the person who tracks down the scofflaws and whips everything into shape.<\/p>\n
HELP YOU MANAGE EMOTIONS<\/p>\n
Buying a home is a process fraught with anxiety, feelings of missing out, and even sadness surrounding a big change. Sellers especially might be caught off-guard by how they feel about leaving a house when the time comes to pack everything up.<\/p>\n
Good real estate agents understand that emotions are part of the package and will both warn\u00a0 you that you might be feeling a little blue about everything, and be there to help you get your bearings and power through.<\/p>\n
FOLLOW UP TO SEE HOW THE MOVE WENT<\/p>\n
When all is said and done and you\u2019ve got most of your possessions transferred from one home to the next, then the agent\u2019s work is mostly done \u2014 right?<\/p>\n
Well, maybe some agents, but a superior agent knows that your life is still in upheaval and will check in to make sure everything went smoothly with the move. Did you forget anything at your old place? Do you need help cleaning and getting settled in? A good agent will ask you these questions and help solve any problems that emerged as a result of changing your address.<\/p>\n
OFFER HELP FINDING CONTRACTORS<\/p>\n
As stated before, all homes deteriorate \u2014 so you can expect to have to make some repairs on your new place at some point, even if the inspection indicated that everything was perfect. But who do you call to take a look at your plumbing or your landscaping?<\/p>\n
Ideally, you\u2019ll already have a list of local contractors in hand that your agent provided for you when you moved in \u2014 but if not, this is something else that your agent should be able to help with. So ask!<\/p>\n
KEEP IN TOUCH<\/p>\n
If someone asks you in three or four years whether you can refer them to your agent, and you can\u2019t even remember your agent\u2019s name, don\u2019t feel too bad; it\u2019s not uncommon for clients and real estate agents to lose touch as years pass.<\/p>\n
But that\u2019s why the best agents make a point to keep in contact with their best clients. A good agent will reach out to help celebrate your homeownership anniversary, ask how you\u2019re doing, and generally stay apprised of any emerging housing needs that you might have.<\/p>\n","protected":false},"excerpt":{"rendered":"
Just like in any other profession, there are good real estate agents \u2026 and there are, unfortunately, subpar real estate agents, too. But how do you know if you\u2019ve got a dreamboat or a dud handling your real estate transaction? One way to know whether you\u2019ve got a good agent (or not) is to consider […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-23","post","type-post","status-publish","format-standard","hentry","category-prime-tips"],"_links":{"self":[{"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/posts\/23"}],"collection":[{"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/comments?post=23"}],"version-history":[{"count":1,"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/posts\/23\/revisions"}],"predecessor-version":[{"id":24,"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/posts\/23\/revisions\/24"}],"wp:attachment":[{"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/media?parent=23"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/categories?post=23"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tips.house\/en\/wp-json\/wp\/v2\/tags?post=23"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}