A real estate agent plays the role of a deal maker when it comes to property. They connect people who want to sell a property with people who want to buy it. But not every real estate agent can give you the kind of service you want.
Many real estate agents specialize in selling certain kinds of property. Some have a high referral rate and a history of success, while others may be more knowledgeable about the area you want to buy or sell a property in.
You want to make sure that you’re hiring the right real estate agent for you. If you want to sell your property, this can help you find a seller quickly. But what makes a real estate agent good? Before you decide on anyone, remember the following things
- You should do research into the property prices of the locality you want to buy or sell your property in.
- You need to interview at least three real estate agents.
- You should be able to trust your agent. Buying or selling property is probably the most expensive deal you’ll make.
- You can find a real estate agent by using a search engine, through referrals, or looking at the real estate listings in the area you want to buy or sell property in. Once you’ve selected at least three real estate agents who you think are right for the job, it’s time for the interview. When you meet your prospective real estate agent for the first time, remember to ask them these questions. This will help you gauge how informed and capable your real estate agent is, and help you find the right match for you.
1) How Many Houses Have They Sold Recently?
While it may sound abrupt to get to business right from the start, it’s also a good strategy. It shows that you’re there to understand the real estate agent and find out whether they’re a good match for you or not.
Ask them about the number of properties they’ve sold within the year and for how much. This is also where you ask for their referrals and client testimonials. Client testimonials are usually available on the agent’s website as well. So, it may be worthwhile to thoroughly research them before you meet them.
2) Have They Ever Had to Reduce the Price of a House?
A good real estate agent will always prevent a price reduction from happening. If a piece of property doesn’t sell for a long period of time, the real estate agent may suggest reducing the price to attract buyers.
A common reason as to why this could happen is because the price of the property was inflated in the first place. However, the seller both had to endure a long wait, as well as sell their property at a lower value than they expected to sell at. You don’t want this for your property.
You need an agent who can measure up and estimate the right value for a piece of property. A lender can also help you find the right value for the property.
3) How Do They Communicate?
How often they communicate can change your experience entirely. If a real estate agent isn’t keeping you up to date on what’s happening with your property, then you stand to have little say in the final transaction.
You should tell your prospective real estate agent that you’re looking for someone who is willing to commit to regular updates. These updates could be weekly and over the phone. At the same time, see how well they communicate with you on a personal level as well.
Do they feel trustworthy? Do you think you can safely leave them to handle your property? A real estate agent who you’re naturally comfortable around will provide a better experience for you than someone you find difficult to open up to.
4) What’s Their Marketing Strategy?
These days, many people do an online search on properties in a locality or area. Real estate agents have to be able to leverage social media and online marketing to bring awareness about certain properties to a larger target audience.
They could also have other marketing strategies that are locality-based. These could include open houses too. Ask to see examples of their marketing strategies and how effective they’ve been when it came to make the final sale.
5) Did their past clients find them trustworthy?
You can dig up this piece of information by going through their client testimonials as well, and you should. A trustworthy real estate agent can be a real asset to you.
You should also check to see what networks and connections they have, as well as how they’ve maintained those connections. Knowing other real estate agents helps an agent to find better deals for you by expanding the customer base wider.
Finally, you should also check to see whether the agent has invested in mitigating risk. Professional Indemnity insurance* for a real estate agent’s is an important form of protection for businesses that provide specialist services and professional advice. It is designed to respond to claims against the real estate agents business for losses as a result of actual or alleged negligence or omissions in the provisions of the professional service or advice.
Make sure your real estate agent is the best by asking them these questions and finding out if they’re the right match for you or not. Professional Indemnity insurance for real state agents can be found with BizCover.
*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.