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Four Tips on How to Choose a Realtor
AdviceWhether you contact a realtor or decide to sell, rent and look for real estate on your own - this is your personal choice. However, if you have not previously had a similar experience, we recommend contacting a realtor. Choosing a realtor is a responsible process, especially if you trust him with the keys to your property and showing to clients. To get professional help, save money and avoid all sorts of problems, we recommend that you consider a number of factors.
1. Word-of-mouth recommendations
Surely among your friends there is someone who has already bought or sold housing and other property. Ask them which agent they worked with. If their deal went smoothly and positively, they will definitely keep the agent's contact and share it with you. The agent who was recommended to you will most likely approach your question responsibly as well.
If your friends had a negative experience of contacting a realtor, find out the reasons. Their experience does not mean that all real estate agents should now be avoided, however, mistakes can be taken into account and not repeated.
If you don’t have any acquaintances with a similar experience, be sure to study the reviews of other people about realtors working in your location. The mm.hr portal has detailed descriptions with a rating based on feedback from real customers.
2. The reputation of the company
If you find it difficult to trust a specialist as such, you can find an intermediary in one of the major specialized firms. In every city there is a real estate agency with a good reputation. Obviously, such a company does not need to deceive the client for the sake of instant benefit: the reputation that they have built for themselves over many years of work is still fragile, and even one negative experience can damage it. Therefore, read the reviews about the agencies, speak with different realtors: it will be easier to find a realtor with whom it will be comfortable to work for you, and the company will act as a guarantor. If you need to conduct a complex transaction, there is a much higher chance of finding a narrow-profile specialist in a real estate agency with a good reputation. Information on the reputation of a real estate agency can be read on our portal, and you can ask your friends.
3. Contractual obligations
It doesn't matter what the realtor will do – look for tenants for your apartment or sell an elite villa by the sea. Professionals work strictly within the framework of the contract. Before signing the contract, be sure to check the realtor’s license. If the agent offers cooperation without documents, refuse his services. Refusal of contractual obligations can be motivated by anything. This is always a red flag: it is better to find another agent. Whatever benefits you are promised, you must keep in mind one thing: no one owes anything to anyone without a contract. There is another nuance – if a specialist concludes a contract with you for the provision of information services, he also does not owe you anything. He can send you a message with the address of the object, call and promise to view the property, and the service will be provided. Professional realtors only take money if you get results.
4. Service price
Typically, real estate agencies earn on commissions, and this is a fixed percentage. For long-term rent, this can be 1 monthly fee. Especially "lucky" agents can take such a commission from both the landlord and the tenant.
In cases of sale, the commission can be from 0.5 to 6%, usually no more than 3% from one side.
There are agencies that set a low commission, honestly providing a price for legal support, etc.
If the realtor tells you something like "We'll see" or when you contact the agency you get evasive answers about the price of the service, it is better to immediately reject any proposals for further negotiations. Both the seller and the buyer must know exactly what the costs are. Look for specialists who work at a fixed rate, this will help save you money and nerves.
We hope these tips will help you choose the right realtor and avoid unnecessary costs, both time and financial.
