When it comes to purchasing or selling a home, real estate agents are professionals who can help with the entire process. They have gone through real estate school, taken and passed exams, and have experience with a variety of situations that may arise during a transaction. They also know the neighborhoods and have insight into comparable housing prices.
However, the question of whether or not you should hire a real estate agent depends on your personal circumstances and how familiar you are with the market. For example, if you’re buying or selling a home for the first time, it’s recommended to use an agent who can guide you through the process and answer your questions. Likewise, if you’re buying a home that needs renovation, it’s best to find an agent who has experience with those types of transactions.
You’ll want to vet potential agents by asking them how long they’ve been in the business, if they work full-time, and how many buyers they typically have each month. You can also ask about the neighborhood and price ranges they specialize in, as well as how they help first-time buyers find homes. You should also ask about their experience with unique types of transactions, such as short sales or foreclosures.
Real estate is a paperwork heavy industry, with tricky contract documents, requests, offers, counteroffers, settlement statements, and federal and state-mandated disclosures. A good real estate agent can help you decipher all of these documents and make sure nothing slips through the cracks.
Another important trait to look for in an agent is honesty. They should be willing to point out the good and the bad of a property, even if it doesn’t align with your personal preferences or goals. They should be able to give you a realistic picture of the property’s worth and show you what similar homes in the area have sold for in order to determine if your asking price is competitive.
When interviewing agents, you should also ask them to provide contact information for a few of their past clients. This gives you an opportunity to ask the client about their experiences and what they liked or disliked about working with the agent. You can also ask how long it took for the home to sell and if they’d hire the agent again for their next transaction. This is an excellent way to get a feel for an agent’s personality and how you might work together during the process. It’s important to remember that if you agree to work with an agent, you’ll be spending a lot of time with them until closing, so you should make sure that you connect personally and professionally.