Whether you’re buying or selling property, hiring a real estate agent is always a smart decision to ensure you get to the closing table feeling knowledgeable and confident. Look no further for our top five things to consider when hiring a real estate agent.
1) When Is It Time To Contact An Agent?
There are many factors that play into when it’s time to hire a real estate agent. Is your current home camera-ready? Do you have a pressing rush to get into a new place? It’s important to think about the speed the market is moving, and your personal timeline. Hiring an agent at the right time will ensure you are getting the most out of their services and also not wasting time.
2) Consider Commission
Real estate agents get paid via commission on their sales. It’s important when hiring an agent that you discuss with them their commission expectations before you sign a listing agreement. Realtor commissions can vary, but on average they range from 5-6 percent. Know that commission rates are negotiable, and it’s important to be informed about them before interviewing potential agents to represent you.
3) Conduct Interviews
A great way to find the right agent for you is by conducting a quick 15-minute interview with a few solid candidates. Some questions to ask include:
- How long have you been working in real estate?
- Is real estate your only job?
- How well do you know the area?
- Will I be working with you, or your team?
- What is your commission rate?
- Can you send some client references?
You can easily compare agents by their transaction statistics like number of sales, speed of sales, and other transactional data using HomeLight’s comparative online tool.
4) Think About Marketing
A great way that real estate professionals can help you sell your property is their ability to market. It’s important to ask your potential candidates about how they market property. If they say they use social media, get details on what that means. Do they pay to boost the post? How many followers do they have? Will they market via direct mail? What kind of connections do they have in the industry? These are all important factors when it comes to marketing a listing that can make or break the speed and success of your sale.
5) Get Referrals & Look at Reviews
According to the National Association of Realtors (NAR), almost three quarters of buyers would use their agent again or recommend them to others. Finding an agent based on referral is a great way to know how that particular agent actually works with their clients, and can give you a peace-of-mind with trusting them with you big sale or purchase. Another great thing to look at are online reviews. Look at the agent’s personal website and other online sources for reviews from past clients. Reviews can be a great indicator on if an agent is easy to work with.