The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
Picking a good Realtor for home buying or selling is the primary mandate for real estate transactions. Both the buyers and sellers need good representation and involvement from the Realtor in order to carry out lucrative deals. What should you look for in a Realtor? Let’s dig in and find out.
The most important ingredient for a successful realtor-client relationship is trust. You would be looking at a lot of properties together and you’d have to spend a considerable amount of time explaining your needs, budgets and priorities. It’s wise to discern from the very beginning and select a Realtor with whom you resonate personally and who shares similar goals for your transaction. They should be available at times of need and not harbor the attitude to neglect your requirements on account of a time-crunch.
It’s not always necessary for the Realtor to just go along with what you say and be agreeable on all fronts. A good Realtor will provide genuine and honest answers when trying to solve a problem or answering your questions and closing the knowledge gap.
It’s best practice to research your options for Realtors by defining a benchmark of credentials you’re looking for in a Realtor and ask many qualifying questions before you decide to hire them.
Can I see your Real Estate License? Realtors who have passed their exams are given a license to operate. Additionally, they may have mandatory associations. For instance, in Ontario, all sales representatives and brokers are required to associate with RECO ( Real Estate Council of Ontario). Also check the credentials and reputation of the real estate firm they are associated with.
Your Realtor should be able to give you a good understanding of the local or even national real estate landscape so you are well-informed. He should be aware of the trends and the latest pitfalls of the sector so that your specific needs can be met effortlessly. It’s also important to ensure that your Realtor has personable communication skills over and above having the local expertise. A realtor may not always be able to get you all the amenities and features (e.g. indoor swimming pool, or built-in barbecue in the backyard) in a house but should have enough know-how to interpret your needs make suggestions, show you something new that you didn’t even know you needed, and get you the next best options that are suitable for you.
Your Realtor should most definitely be able to present to you a list of comparable properties, their historical sold data, neighborhood amenities, school ratings and other vital features so that you are aware of what you’re buying and if it’s at the right price. Another skill a Realtor should certainly have is good negotiation skills, whether you’re buying or selling. They should be intimately familiar with the legal aspects of home-buying and selling and should be able to guide you with paperwork, documentation and mandatory legal legwork.
Often times, we hire a Realtor because he comes highly recommended from a friend or a family member who has worked with them before. Do not be pressurized by this reason to hire the Realtor. The needs and circumstances of the one referring may not exactly be the same as your priorities or budget. Another added layer of screening occurs when you check the Realtor’s social media pages, reviews and testimonials. You can also visit some of the open houses hosted by the Realtors you have shortlisted, it helps you see the Realtor in action and you will get a pretty good idea of their work ethic.
You have to lay down ground rules and understand the exact list and type of services your broker would provide. Do their services depend on locations, budgets and neighborhoods? Do they guide first-time home-buyers with terms and conditions, legalese, mortgage agent referrals, home inspection laws, paperwork submission, policy guidelines, bye-laws of real estate, among other services. They should have the skills to get you a good estimate of the listing and sale prices and should be able to direct you in cases of home inspections. It’s advisable to go with a Realtor who has a solid network and a strong online presence so your property cannot only get offline but also online inquiries and a higher number of potential buyers or sellers. A Realtor is usually required to be present at home appraisals as well as represent the seller during home inspections. Additionally, set a schedule for meetings and be clear and specific about the number of hours you’ll need weekly for progress to emerge.
In the end, use a balanced approach when picking the right Realtor, in that get a Realtor with the right pulse on the market and genuine interpersonal relationship skills.