A realtor can be an important asset when purchasing or selling a house, but finding a capable realtor can be a challenge. Sellers want to transfer their property as soon as you can, and buyers don't want to be coerced into buying a property they may not want. A fantastic realtor will thread the needle and address the concerns of both sides. Very good realtors are out there, but where can they be found?
National Association of Realtors
Whether purchasing or selling a property, it is imperative that the realtor become a member of the National Association of Realtors (NAR). Beware of any property agent that's not a member. The NAR has a rigorous code of ethics, and any offenses may be grounds for losing that membership.
Word of Mouth
This is probably the best method to find a great realtor. Knowing someone who has recently bought or sold a property may give an unbiased opinion of the own realtor. They might even have invaluable information regarding the firm they work for. Word of mouth referrals might be hard in today's real estate climate, but finding someone with firsthand experience can provide insight that cannot be found any other way.
Assess the Established Companies
The big property companies can provide information regarding their employees to assist when choosing a fantastic realtor. Any company that refuses to provide basic information is a indication of trouble and also a cue to move on. A good company, or even the realtors themselves will provide recent sales info, history, licensing, and other information necessary to generate an educated decision. Beware of the no-name firms however. It's likely that they are legitimate, but companies that balk at providing information on their realtors, including licensing information are to be avoided.
Ask Questions
Once a realtor, or a pool of potential realtors has been selected, these questions will help determine if they are the ideal realtor for a particular deal.
1. Qualifications: Your NAR designation ought to be mandatory, but there can be other designations or awards that can further underline the realtor's qualifications.
2. Referral information: This might be among the most requested questions of a realtor. A realtor with a high referral rate is a sign that previous clients were happy with their functionality. A good realtor will be happy to share the information, but at precisely the same time, it's a fantastic idea to ask to speak with a few past clients and obtain their opinion.
3. Do they need an exclusive arrangement? Beware of these realtors if the answer is yes. A private arrangement can tie up the vendor's property, as well as prompt a commission from the buyer, even if they did not have anything to do with them purchasing the house. An exclusive agreement just benefits your own realtor. If they disagree, ask them to explain in detail.
4. How committed are they? No one wants to be just another customer on a listing. Property sellers want to sell and need to know what the realtor is going to do to make that happen. Buyers are in a market where the costs can vary rapidly in a short moment. They require a realtor to act quickly on their behalf.
5. Can a lawyer see any contracts between the parties? If a realtor balks at this, walk away instantly. Any valid realtor is going to have no problem with an attorney looking over any document.
A substantial amount of money will soon be changing hands in a property transaction. Having a fantastic realtor is as precious as having a fantastic attorney. A bad one can be catastrophic. Use the above mentioned guidelines and keep in mind that the realtor works for you, not the other way around.