How To Find A Good Realtor When Buying A Home
The real estate agent and lender you choose are extremely important to maximizing your homebuying experience. You rely on them to complete your purchase, and your choice of representation can have a significant impact on your budget and stress levels.
how to find a good realtor when buying a home
Your real estate agent should demonstrate their expertise before you sign anything. There should be an initial meeting where your needs and goals are discussed. You'll be led through the homebuying process and review some potential home options so that the agent can gauge your preferences. Remember that you are under no obligation to work with them until you sign an agreement. Though your relationship with your lender may not be as personal, you'll want to have a conversation and vet them, too, before formally agreeing to work together.
Moving too fast can have devastating results, as Stuart Jones discovered on the way to buying his first home in Philadelphia (Jones asked CNET not to use his real name). Jones had been eyeing a three-bedroom airlite row house built in 1930 -- a fixer-upper with a facade made of local stone. Eager to sign, Jones got a recommendation for a lender from an acquaintance and signed a contract without asking any questions.
To find the right realtor, ask local homeowners for real estate agent recommendations and contact a local brokerage to request interviews with potential agents. The right agent should present you with a buyer agency agreement, which commits you and your agent in a way that both of your financial interests are protected.
Open and closed permits for residential work can give you insight into where commercial development may be going on. If you're willing to wait out plans for a few years, you may be able to get a discount on a home. This approach can also help boost your equity over a short amount of time. This information is typically available through your city or county website. Your agent should be able to help you find this information, as well.
The path forward to a new home should be a little more clear now. Start figuring out how to budget for your home ahead of time so you're not tripped up by logistics when you find the right house. And remember, homeownership is not necessarily for everyone -- there are pros and cons to both owning and renting. Make sure you want to be a homeowner before you make this commitment.
The fastest and easiest way to find a great local realtor (by far) is through an agent matching service. These free online services recommend local agents from top brokerages, like KellerWilliams and RE/MAX, who may be a good fit for your needs.
Obviously there are many ways to go about finding a great realtor. In this guide, we break down all the approaches (good and bad) and provide practical advice so you can move faster and find the best agent for the job.
Includes cost-savings benefit: A few brands offer built-in commission savings when you find your agent through their service. If they find an agent you like, you could literally save thousands vs. had you found the same agent through a competitor or on your own.
Experienced realtors also tend to have more connections with industry professionals, such as mortgage brokers, attorneys, and home inspectors. They can recommend reliable and trustworthy professionals, which takes some of the stress and risk out of buyingyour first house.
The key benefit is the agent has experience handling the various issues and conflicts that may arise between divorcing clients in the home sale process. A good agent can also help the buying or selling process progress more quickly, which may be a topconcern after a divorce.
These organizations aren't affiliated with any government agencies, but may be worth investigating to find an agent who understands the unique needs of service members and veterans. You can potentially get a commission discount or home buyer rebateas well.
Just keep in mind that finding a seller's agent with this type of experience is hard. According to NAR, only about 14% of realtors have closed a deal involving foreclosure in the past 12 months. Only about 2% of realtors have handled more than six.Regardless of how you search, be careful and thoroughly vet any prospects to ensure they have legit experience.
We recommend using an agent matching service when looking for a realtor to help sell your house. Agent matching services pair you with real estate agents based on your unique needs and expectations, such as your desired sale price, location, and property type. Some agent matching services, like Clever, will also pre-negotiate discounted listing fees on your behalf, which could save you thousands of dollars. Learn more about how an agent matching service can help.
Josephine Nesbit is a professional real estate and finance writer based out of Columbus, Ohio. She grew up going to open houses with her grandmother who taught her all about the real estate business. She has experience and knowledge in the home buying and selling process, mortgage, personal finance, and real estate investment.
The reason is that dual agency can create a conflict of interest. On one hand, the buyer wants to pay as little as possible, while the seller wants to set the price of the home as high as possible. If the agent is representing both sides of the deal, whose interests should take precedence when it comes to negotiating price?
Still at a loss? Agents sometimes advertise their services online. Agents can run promotional ads through social media. Listing sites may also show agent ads by location when you browse homes for sale.
Now comes the fun part: working with your agent to find your dream home. However, it still requires a lot of work, and you need to tell your agent what you want. You need to make it clear how often you hope to communicate, your budget, your timeline, and any potential obstacles.
A real estate commission is usually between 5% and 6% of the sales price, with that total split between the buyer's agent and the seller's agent. You might be able to get a lower commission if there is no buyer's agent involved or if you take on more of the legwork in selling your house. However, that range is typical for most agents."}},"@type": "Question","name": "How do I determine the listing price for my house?","acceptedAnswer": "@type": "Answer","text": "Ultimately you decide on the list price for your house, but your agent can help you make the decision. They should pull comparable sales for you to look at, discuss current market conditions with you, and review improvements you've made to the house to help you arrive at a price that will attract offers.","@type": "Question","name": "Can I sell my house without an agent?","acceptedAnswer": "@type": "Answer","text": "You can sell your house without an agent, or "for sale by owner." If you go that route, though, you should be prepared to do the work of an agent yourself. It involves comparable-sales research, listing, showing, marketing, and negotiating the price for your property. At the very least, you should work with a lawyer to ensure that there are no legal issues with the sales process."]}]}] .cls-1fill:#999.cls-6fill:#6d6e71 Skip to contentThe BalanceSearchSearchPlease fill out this field.SearchSearchPlease fill out this field.BudgetingBudgeting Budgeting Calculator Financial Planning Managing Your Debt Best Budgeting Apps View All InvestingInvesting Find an Advisor Stocks Retirement Planning Cryptocurrency Best Online Stock Brokers Best Investment Apps View All MortgagesMortgages Homeowner Guide First-Time Homebuyers Home Financing Managing Your Loan Mortgage Refinancing Using Your Home Equity Today's Mortgage Rates View All EconomicsEconomics US Economy Economic Terms Unemployment Fiscal Policy Monetary Policy View All BankingBanking Banking Basics Compound Interest Calculator Best Savings Account Interest Rates Best CD Rates Best Banks for Checking Accounts Best Personal Loans Best Auto Loan Rates View All Small BusinessSmall Business Entrepreneurship Business Banking Business Financing Business Taxes Business Tools Becoming an Owner Operations & Success View All Career PlanningCareer Planning Finding a Job Getting a Raise Work Benefits Top Jobs Cover Letters Resumes View All MoreMore Credit Cards Insurance Taxes Credit Reports & Scores Loans Personal Stories About UsAbout Us The Balance Financial Review Board Diversity & Inclusion Pledge View All Follow Us
Budgeting Budgeting Calculator Financial Planning Managing Your Debt Best Budgeting Apps Investing Find an Advisor Stocks Retirement Planning Cryptocurrency Best Online Stock Brokers Best Investment Apps Mortgages Homeowner Guide First-Time Homebuyers Home Financing Managing Your Loan Mortgage Refinancing Using Your Home Equity Today's Mortgage Rates Economics US Economy Economic Terms Unemployment Fiscal Policy Monetary Policy Banking Banking Basics Compound Interest Calculator Best Savings Account Interest Rates Best CD Rates Best Banks for Checking Accounts Best Personal Loans Best Auto Loan Rates Small Business Entrepreneurship Business Banking Business Financing Business Taxes Business Tools Becoming an Owner Operations & Success Career Planning Finding a Job Getting a Raise Work Benefits Top Jobs Cover Letters Resumes More Credit Cards Insurance Taxes Credit Reports & Scores Loans Financial Terms Dictionary About Us The Balance Financial Review Board Diversity & Inclusion Pledge Mortgages & Home Loans Homeowner GuideSelling Your HomeHow to Choose a Listing AgentByElizabeth WeintraubUpdated on March 4, 2021Reviewed byLea D. UraduIn This ArticleView AllIn This ArticleThe Highest Suggested List PriceShould You Choose Based on Commission?The Importance of Agency MarketingCharacteristics of a Good Listing AgentFrequently Asked Questions (FAQs) Photo: David Sacks/Digital Vision/Getty ImagesThe biggest mistake that home sellers make when choosing a listing agent is in selecting one based solely on two factors: the highest list price for their home and the lowest commission. 041b061a72