Tips to Get the Most out of Your Real Estate Agent
One of the most significant financial decisions that any person might face at some point in life is buying or selling a home. Such a task will be daunting if there are no real estate agents. Hence, finding a real estate agent with the right experience and attitude is the key to achieving a smooth process. Today, there are so many real estate agents, and looking for one can be considered a dime a dozen. Even so, it doesn’t mean that you already know everything about hiring one.
You have to note that a real estate agent should be someone who thoroughly understands your demands and can provide expert advice should you need it. Seeing that you will be trusting your agent to oversee and manage your financial transactions, you need to get the best services at par with the price you’re paying. If you want to get the most out of the real estate agent you will hire, you need to know the tips you will find in this article.
Set Expectations and Ground Rules
Regardless of how knowledgeable real estate agents are, they are still ordinary people who cannot read their clients’ minds. Thus, it would require you to state your exact needs and expectations at the onset clearly. When interviewing agents during the hiring process, you need to be upfront about your expectations and ground rules. Tell them if you want to renovate the property first before placing it on the market. Be honest if you wish to install changes in your property– whether it is a need for a roof replacement or simply if you want to recommend access doors or additional accessories. You also have to be clear about how much you expect to gain upon selling your property and learn to listen to what the real estate agent will recommend to you. Moreover, hiring a real estate agent does not mean that you stop communicating and leave him or her to do the job. You still have to keep communication lines open throughout the selling process until the property sells.
Get an Accurate Price for Your Property
Your real estate agent is not only responsible for the marketing of your property and handling all negotiations and paperwork. He or she must provide recommendations as to how much your property could sell. An experienced real estate agent should know how to conduct a comparative market analysis to figure out how your home fares compared to similar properties for sale in your area. Also, your real estate agent may make recommendations about repairs and renovations that can raise the price of your house. Suppose you want to avoid scaring off potential buyers before they have even had a chance to visit your property. In that case, you should get an accurate valuation of your property. It will help you aim for a price that is attainable for your potential buyers and yet profitable.
Heed Your Real Estate Agent’s Advice
Listen carefully when your real estate agent suggests repairs or renovations. Heed your agent’s advice in all aspects related to selling the property, including the property’s marketing. They know the local property market to help you find a sweet price for your property concerning its location.
Agree on a Good Marketing Strategy
When you’re selling your home, you cannot slack off on the marketing strategy. Take note that advertising nowadays is no longer limited to putting an ad in the classifieds. There are other media and channels through which you can advertise your property. You and your real estate agent must have a detailed marketing strategy that includes online ads, print listings, professional photoshoots, and even drawn-up floor plans to introduce your house to property buyers.
Demand Regular Updates
As mentioned earlier, keeping an open line of communication with your real estate agent is not only limited during the contract signing or hiring process. It should be consistent throughout the selling process. An excellent real estate agent knows that it is his or her duty to keep you posted about potential buyers who inquire about your property and negotiate on your behalf. Ensure that you demand regular updates, ask for feedback from your real estate agent after every house viewing, and ask for inquiries from potential buyers. By doing this, you and your agent will adjust your marketing strategy in case the interest in your home is low.
Although real estate agents are the authority on property sales, it does not mean that you can’t do your research. However, even if you find helpful information from other sources, it should be your priority to listen first to your real estate agent’s advice. Once you know the agent’s opinion, you can start setting out ground rules and expectations. After coming up with ideas, you and your real estate agent can begin planning a good marketing strategy.
Lastly, be sure to make it clear to your agent that you demand regular updates and you want constant communication throughout the selling process to avoid any misunderstandings.