A professional real estate agent can help you make informed decisions and avoid costly mistakes when selling or buying a house.
Not every agent is right for you. This article will help you choose the right one for your needs.
Real estate agent basics
It’s important to understand what you can expect from a Myrtle Beach realtor before you begin looking.
What is a real estate agent?
Agents can help homeowners buy or sell their homes. Agents inform their clients about the current market, guide them through every step, and refer to other professionals such as real estate lawyers and home inspectors. The title of the agent will vary depending on who they are representing in a real estate transaction.
Buyer’s agents help buyers shop for homes on the market, negotiate with sellers and make offers.
A listing agent assists sellers in pricing, marketing and selling their homes and negotiating with buyers.
Sometimes, agents can represent both parties in a transaction. However, it is best to have an agent who represents you only.
Realtor vs. real estate agent
Real estate agents are not all Realtors. Realtors are licensed agents that are members of The National Association of Realtors. All members agree to adhere to the standards and code of ethics of the association.
Real estate agents must be licensed in their state and adhere to all laws. Agents must complete coursework and pass an exam to be licensed. To find out if an agent is licensed, check with your state’s website for the real estate commission.
There is a difference between a broker and a real agent
Real estate brokers have completed additional training in order to obtain a license as real estate brokers. To become licensed, brokers must pass an exam and complete the required coursework in their state. Brokers can supervise other agents or work independently.
How to interview and find real estate agents
Ask friends and colleagues to help you find potential agents. Check out the websites and online profiles of a potential real estate agent in Myrtle Beach to learn more about their experience and specialties, as well as customer reviews.
Real estate agents should be able to answer questions for buyers and sellers.
These are the most important things to know, regardless of whether you’re selling or buying a house.
Can the agent represent me?
It is easy to assume that any real estate agent will only represent your interests. In some cases, however, real estate agents don’t have to represent only the buyer or seller in a transaction. A “dual agent” can represent both the buyer and the seller in a transaction. A “transactional agent”, however, works with both parties but is not liable for any fiduciary duties.
It is important to understand the role of your agent when they work with you. The Consumer Federation of America advises that you ask prospective agents whether they will represent your interests throughout the process and to request a written agreement detailing the relationship.
What training and experience does the agent have.
What training and recognition has the agent received? How long have they been working with clients? You want an agent who has a track record of helping clients like you.
Can the assistant or agent work with me?
Sometimes agents have assistants who work for them as part of a team. Do you prefer to work with the assistants or the agent? A team that works well can meet your needs, but you need to have sufficient access to the agent.
What is the salary of an agent?
The seller usually pays the commission. However, the listing agent splits the commission with the buyer’s agent. The typical real estate commission is between 5% and 6% of the sale price.
According to the Consumer Federation of America, you might be able to negotiate a lower rate as the seller, especially for high-priced properties. You can request a rebate from the buyer agent for a portion of your commission.
Although agents may not be open to discussing commissions, it is worth asking.
Are their recent clients happy?
Ask for references and speak to past clients who have worked with the agent over the last year. Are they happy with the work of the agent? What went well and what didn’t? What was the agent’s approach to dealing with difficult situations? Talking to clients in the past will help you determine if they are a good fit.
Buyer tips for finding a good real estate agent
These are some things you should consider when looking for an agent to help with your home purchase.
- What are the challenges I will face as a buyer today? Good agents will help you set realistic expectations and explain the availability of homes for sale as well as the competition that other buyers face.
- What will you do to help me find homes that are within my price range? Ask for examples of the recent work done by the agent to help buyers like you. This will help you get a feel for how the agent will handle your needs.
- How can you help me negotiate with sellers and make competitive offers? Find an agent who can help you stick to your goals and budget.
Tips for finding a good real estate agent
These are some things you should consider when selecting an agent to help sell your home.
What are the similar listings in my neighborhood? A comparative market analysis should be done by an agent, which will show you similar homes that have been sold within the past six months.
How much do you think my house is worth? A real estate agent will not recommend the highest price. Look for an agent with market knowledge to back up your recommendation.
What can I do to make my home more appealing? Depending on where you live, your local market may dictate what repairs are necessary to sell your house. You can get solid advice about the needs of your home and the return on investment by listening to this podcast.
How do you market my house? Agents will suggest that you list your home on the Multiple Listing Service or real estate websites such as Zillow. Find out more about the other promotional tools that agents will use such as video tours, photos, and advertising. The market will determine the amount of marketing needed to sell a house. If there are more homes than buyers, less marketing might be necessary.
How to select a real estate agent
Compare the experience and methods of agents, as well their ability to build rapport. Are you able to work with this person? Select a competent agent whose work style matches yours.
Cheryl Woodward is both a licensed real estate agent and a broker and is here to help you list your home or find your dream home. Call her today to discuss your ideas. You will be glad you did.