Thursday, October 4, 2012

Five Tips for Finding Realty Agents

Tip one: Find an agent that works full-time for buyers. If you get someone that handles both buyers and sellers, then there is the possibility for a conflict of interest there. You'll also want to get someone who is an Accredited Buyer Representative as that demonstrates their ability and willingness to work for the best interests of you the buyer.

Tip two: Get as many recommendations for realty agents as you can. If anyone you know has had any positive or negative experiences with your local realtors, it would be a good idea to listen to them. Stay away from anyone they say was bad, and call up anyone that they say worked well for them.

Tip three: There are a few important questions that you should ask to get a good idea of the competence of potential realty agents. The first is how long they have been doing their job. You want someone with years of experience, not a first timer. Next, find out if they sell real estate full-time or if it's just a part-time gig. You want someone that dedicates all their time to selling your house. Finally, ask how many houses they've closed in the last six months. If it's anything less than six, or one per month, you may want to keep looking.

Tip four: Ask to negotiate a flat fee with your realty agents rather than a cooperative split, where they split the selling agent's commission. If they do that, then it is in their interest to sell the house to you for more so they get more money.

Tip five: Insist on an open contract that allows you to use as many realty agents as you want and to not have to pay if you end up finding the house yourself. Don't allow yourself to get caught in an unfavorable contract.

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