Monday, April 13, 2015

Who do you want to work with? - By Real Estate agent Matthew Trudel

Thinking of buying or selling soon? Here are a few tips to think about before selecting which realtor you want to work both with and for you. 

Tip 1: Talk with a few of the agents clients, both past and current. As a buyer you should talk with buyers he or she has worked with or is working with. Ask about what they enjoyed and didn't enjoy in the transaction. Sellers should ask previous clients what the asking price was compared to the selling price, how long was it on the market, and is the property similar to yours. Both buyers and sellers should be asking if it was a smooth process and did the agent keep them well informed throughout the process.
Tip 2: How long has the agent and agency been in business? Someone who has been in the business a long time probably has experience, many contacts that can assist in the transaction, and the respect of other agents in the area. Not that you need to have all the experience, because as realtors we are always there to assist other realtors. However, an agent who is relatively new might be learning on you and that's not a good thing.

Tip 3: Talk to more than one agent, preferably three. Sellers should get an opinion from each of them as to what they think the property is worth. All three values should be fairly similar. If one is considerably higher than the other two, beware of that one because it might be an attempt to attract your business. Buyers should ask the agents about the different types of financing programs they have used recently, what programs would they recommend for you, and why. Some of the common programs are FHA, VA, RD, MESHA, Conventional Insured, Conventional, and there is even a Doctor Loan offered through Bank of America. 

Tip 4: How many clients are they working with right now and how will that effect the time they have to devote to working for you? You don't want an agent that has too many clients and time is stretched too thin. This can also be true if the agent is working a different full-time job other than real estate. You want an agent who is not only capable, they need to be available as well.

Tip 5: What is the agents success and satisfaction rate? How many clients did they successfully help and how many did they not help? An agent can list 60 plus homes, but if he only sells 20, you might want to think about the agent that listed 21 homes and sold all of them.

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