Real Estate Search Direct

In spite of the current economic uncertainties, the real estate market continues to function, albeit at a slower pace than during the housing boom. Admittedly, this is a buyers’ market, and sellers must deal with stiff competition that can drive asking prices lower than would have been preferred. The reality is that every time someone buys a home, someone else has sold his. Being on either side of the deal can be much easier with the assistance of a skilled real estate broker.

It is wise to take the time to interview a real estate agent that may be representing your interests, whether you need a buyer’s agent or a seller’s agent. Any agent you consider should possess qualities such as honesty, friendliness, availability via phone or email, and excellent negotiation skills.

While requirements for licensing vary from state to state, most real estate agents have a grasp of the housing sector. However, it is also important for them to have a basic understanding of the current rules and regulations for financing. In an increasingly difficult lending environment, at a minimum your agent should know enough to recommend that you pre-qualify for a loan before you begin shopping for a house.

A new agent can be a plus or minus, depending on your perspective and his/her energy level and eagerness. He may be more “hungry” because he is new to the pack, but he does need to be connected to a network of experienced agents so that he can find answers when he needs them.

It is always best to hire someone who is familiar with the area where you are interested in buying a property. Good local agents will be familiar with the comparative prices for similar properties that have sold recently. The right agent will give expert advice when the buyer is ready to make an offer, and also will present the offer on the buyer’s behalf. A good buyer’s agent will try their best to be the world’s best negotiator for his or her client. He will work with the seller’s agent to arrive at the final offer, and will be happy to guide you through the home inspection and closing process.

Seller’s agents play a much different role in the process. Good ones have cultivated a strong perspective in order to provide the seller with advice on how best to market his or her home. They will be able to assist in listing the house at the correct price for the market given knowledge of recently sold homes in your neighborhood. Seller’s agents work to create a marketing plan for their clients, including where and how often to advertise, online promotion, and social media marketing. The right agent will have a history of pricing homes correctly so that most listed homes sell at a price not far off from the original asking price. This is more difficult in the current economy; however, good agents will be quite up to date on neighborhood market trends as well as recent sales, short sales and foreclosures.

The amount of commission to be paid to both sellers and buyers agents is negotiated at the time the listing agreement is signed. Remember, neither real estate professional is paid until the purchase of the property is closed. Good realtors work hard to provide excellent professional service to both buyers and sellers because they are conscientious, ethical, and of course hope for referrals and future business. They use their knowledge, skills, and connections to close property transactions in which both parties feel like winners. They are especially useful to first-time buyers who may be totally confused about the process of purchasing one’s first home.

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Comments (0) Feb 01 2010