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Real estate professionals have always been in high demand. Ever since buying and selling real property became a big business in the early 1900s, knowledgeable realtors were needed to show potential buyers around different properties in the area and to facilitate the buying and selling process. Today, realtors still help buyers and sellers with finding good deals, contract negotiations, and fielding offers on new properties.
However, not every realtor is equal. Realtors with experience in the industry and a proven track record tend to get the bulk of new business. They have the most money to spend on marketing and have established themselves as leaders in their industry.
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But how should you go about finding the right realtor to sell your home? You’ll want to do plenty of research into different realtors before finding the right ones to interview and eventually hire. This article teaches you what to look for in a realtor and the questions you should ask before starting the selling process with a new realtor.
Why work with a realtor?
While some people may think that using a realtor isn’t necessary, there are many different reasons why realtors are essential to making sure the real estate process is smooth for buyers and sellers.
Below are the following reasons why you should work with a realtor when selling your home:
- You’ll get more for your home. Studies show that people who work with a realtor to sell their homes get more money and close faster than those who don’t.
- You’ll be able to see more properties. Realtors are the only people with access to the Multiple Listing Service (MLS) and can send you hundreds of properties that could be a good fit. They also may have access to homes that aren’t on the market yet.
- They guide you through the selling process. Those new to real estate and selling their home will most likely need some guidance regarding real estate terminology, fielding offers, and negotiating contingencies. Without a real estate agent to help in these areas, you’ll probably end up losing money when selling your home.
- Realtors can also help you find properties in the future. Whether you’re a new homeowner or an investor that wants high returns with their real estate investments, working with a trusted agent can help you find deals in the future to build your real estate portfolio or find homes that are perfect for you and your family.
Main responsibilities of realtors
Most realtors do a lot of things and wear plenty of different hats in their day-to-day activities. They primarily spend most of their time showing homes and prospecting for new clients through outreach efforts.
Additionally, realtors also:
- Host open houses
- Facilitate communication between the buyer and sellers agents
- Negotiate pricing on behalf of their clients
- Draft agreements and other legal paperwork
- Advise clients on counter offers
Realtors often have plenty of administrative work to do as well. Beginner realtors may find themselves making cold calls, ordering marketing supplies, and updating property listings.
What to look for in a realtor
Good realtors share plenty of the same characteristics that make them successful. Below are the most common traits to look for in a realtor:
Knowledge of the local housing market
New and experienced realtors should have a good understanding of the local housing market. They should know where the most desirable areas are and whether or not they would be a good fit based on your price point.
Keeping up with housing trends
Realtors should constantly be watching news on the housing market to know where the market is headed. Keeping up to date on things like interest rates, home values, and other macroeconomic trends makes them better at their jobs and builds trust with potential clients.
Giving you the cold hard truth
Some realtors try to sugarcoat the truth while others will give it to you directly. Sometimes hearing the cold hard truth is necessary although it’s often difficult to hear. Working with a realtor that is direct and assertive puts you in the best position to have a positive experience when buying or selling a home.
Not only trying to sell you a home
Beginner real estate agents are constantly fighting for their first few sales. They may even try to put you in a home with defects and other red flags so they can get that first commission check. While new real estate agents need to earn a living like the rest of us, this approach violates the fiduciary responsibility that realtors have. While this certainly isn’t always the case, you should be wary about realtors that are trying to sell you on homes that aren’t a good fit.
Finding the right realtor to sell your home
Finding the right realtor can often be a long and frustrating process. You’ll want to make sure this person has the skills needed to meet your expectations and get the most for your home.
It’s perfectly reasonable to interview several realtors before deciding on one to work with. Your realtor will (hopefully) be around for a long time and can help you with deals in the future, so choosing the right realtor can make or break your buying and selling experience. You should prepare to ask potential realtors the following questions:
- How long have you been in real estate?
- How many properties did you sell last year?
- How do you plan to market my home?
- What is your approach to pricing my home?
- What things should I do to get my home ready to sell?
While some of these questions can be answered with a simple Google search, it’s worth hearing your potential realtor answer these questions in person or on the phone.
Finding the right realtor to sell your home can be a lengthy process. However, you’ll want to be sure that you choose the right agent that has your best interests in mind if you want to build a solid relationship with a trusted realtor.
That’s why working with Kevin Bailey is one of the best decisions you can make as a seller. Sign up for a free Virtual Strategy Session with Kevin and use our Free Home Valuation to find out what your home is worth and get the selling process started today!