If you are looking to buy, sell, rent, or lease a property, you might be thinking of hiring a real estate agent. Doing so is a smart move, but it’s important you know what you’re looking for before choosing one. Not all agents are created equal, and several factors come into play when it comes to choosing the right one. Here are a few things you should know before hiring a real estate agent.
Things You Should Know Before Hiring a Real Estate Agent
A real estate agent is a valuable person to have on your team anytime you rent, lease, buy, or sell a piece of property. Unfortunately, the profession doesn’t require much hard work or study in order to become licensed, so it’s possible you could come across an agent with little experience or skill. Rather than make the mistake of hiring such a person, it’s important you know what to look for in an agent. Below are a few of the more important things you should know before hiring a real estate agent to ensure you get the right one for you.
Real Estate Agents May Specialize In A Particular Type Of Transaction
Not all real estate agents are created equal. This means not every agent is experienced in all areas of real estate. For instance, some only focus on the rental and leasing side of the market, while others only represent buyers or sellers. Make this the first question you ask when considering someone as your real estate agent.
Real Estate Agents Should Have Experience In Similar Transactions
The size and value of the real estate transaction are important, as they dictate whether the agent has the resources to handle the transaction appropriately. This is especially true if the property you’re considering is large or otherwise outside the norm and might be more difficult to pair with a new buyer.
A Real Estate Agent’s Location Restrictions Matter
Once you have figured out an agent meets the transaction type and size requirements you need, the last thing to consider is location. Many real estate agents are bound by location restrictions that limit their ability to help you rent, lease, buy, or sell in all areas. Your best bet is to ask about the agent’s past experience conducting transactions in the location your property is in in order to gauge their ability to adequately assist you. If the agent has a successful track record in the locality you are looking to work in, they’re probably the right agent for you.
Finally, sit down with the agent and discuss how the transaction will proceed. This helps set expectations for both you and your agent and reduces surprises along the way.
Hiring a real estate agent is a smart move when renting, leasing, buying, or selling a property. Understanding what to look for in an agent is important to the success of the deal, so we hope the above things you should know before hiring a real estate agent help you find the right agent for you.