Ed Sarfo is an experienced realtor, living and working in Lexington, Kentucky. Finding the right real estate agent to buy or sell your property is an important step that you will have to carefully take. Many real estate agents are independent contractors who get paid a commission based on the number of deals (house sales) they close. The commission they receive (from the sales proceeds) is normally split two ways, between the selling agent and the listing agent. Ed Sarfo shares a couple of tips on what to look out for when choosing a real estate agent.
Agent Suggest the Highest Price for Your Property
If you are selling your house, you might want to get listing presentations from more than one real estate agent. This will give you an idea of what comparable homes have been sold and how long it could take to see your house. The data the agents use is the same, so the price they suggest should be along the same lines. If your house is priced too high, it will take longer to sell, and will eventually sell for less. If your property sits for a long time on the market, it will give potential buyers the impression that something is wrong with it.
Part-Time or Full-Time Agent
Whether you are seeking to sell or buy property, you want to choose an agent who is actively following the real estate market every day. If you are selling your property, you will need to have an agent who is always available to show your property to prospective clients. On the other hand, if you are looking to buy property, your agent should be able to show you the latest listings immediately.
Local Agent
When looking for a property to buy or sell, it is important that you choose an agent who knows the real estate landscape in your neighborhood. Sometimes, the difference in moving a block up or down can result in raising or lowering the value of a house by $100,000. An agent who specializes in a particular neighborhood might be able to get what you are looking for, even if the property is not yet listed on the market.
Low Commission
Most real estate agents charge anywhere between five and seven percent, which is then split between the selling agent and the listing agent. If the commission on your property is lower than the normal rate, you might get very few agents who will want to show it to potential clients. However, that does not mean you cannot find an agent and negotiate a lower commission for the house.
Ed Sarfo has been a licensed real estate agent in Lexington, Kentucky since 2004.
Source: http://money.usnews.com/money/personal-finance/articles/2014/11/07/9-red-flags-to-watch-for-when-picking-a-real-estate-agent
Agent Suggest the Highest Price for Your Property
If you are selling your house, you might want to get listing presentations from more than one real estate agent. This will give you an idea of what comparable homes have been sold and how long it could take to see your house. The data the agents use is the same, so the price they suggest should be along the same lines. If your house is priced too high, it will take longer to sell, and will eventually sell for less. If your property sits for a long time on the market, it will give potential buyers the impression that something is wrong with it.
Part-Time or Full-Time Agent
Whether you are seeking to sell or buy property, you want to choose an agent who is actively following the real estate market every day. If you are selling your property, you will need to have an agent who is always available to show your property to prospective clients. On the other hand, if you are looking to buy property, your agent should be able to show you the latest listings immediately.
Local Agent
When looking for a property to buy or sell, it is important that you choose an agent who knows the real estate landscape in your neighborhood. Sometimes, the difference in moving a block up or down can result in raising or lowering the value of a house by $100,000. An agent who specializes in a particular neighborhood might be able to get what you are looking for, even if the property is not yet listed on the market.
Low Commission
Most real estate agents charge anywhere between five and seven percent, which is then split between the selling agent and the listing agent. If the commission on your property is lower than the normal rate, you might get very few agents who will want to show it to potential clients. However, that does not mean you cannot find an agent and negotiate a lower commission for the house.
Ed Sarfo has been a licensed real estate agent in Lexington, Kentucky since 2004.
Source: http://money.usnews.com/money/personal-finance/articles/2014/11/07/9-red-flags-to-watch-for-when-picking-a-real-estate-agent
