Are you thinking of buying or selling a home? Are you dreading having strangers walk through your home, or having to walk through stranger's houses? Are you concerned about getting the paperwork correct? Hiring a professional, experienced real estate agent can take away most of the challenges of buying or selling a home. A great agent is always worth more than the commission they charge, just like a great doctor, accountant or attorney. Should you ever need surgery someday, are you going to be shopping based on price, or are you going to find your doctor based on their knowledge, experience and skill? It's simple; you want to deal with one of the best agents in your marketplace, period. To do this, you must be able to distinguish the average agent from the great one. Here are the top 4 demands you need to make of your Real Estate Agent when buying or selling a home:
1. Tell me the truth - especially about the price
Too many agents just take the offer you plan to make at any price, and then try to ‘work’ both the seller and you while negotiating later. The first 'negotiation' from a good agent should be with YOU, while preparing your offer, to ensure that the offer will stand up when presented. Demand that the agent prove to you that they have a belief in the price you are offering, or work with them to reach agreement on a price that makes more sense. Make sure they have a plan to get both the seller - and the lender - to accept that price. Every house in today’s market must be sold two times – first to the buyer and then to the buyer's lender (and the second sale may be more difficult than the first). The residential appraisal process has gotten tougher. A recent survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks who are ultimately lending the money to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the original offer. The same can be said when listing your home for sale. You and your agent must have frank conversations - about price, condition, showing feedback, etc. - and you need to be prepared that you're not going to like everything you hear from a good listing agent. That's what makes them good. If they can't - or won't - tell you the truth, then you need to move on and find an agent who has the courage to be honest with you. You're hiring a great agent to tell you what you NEED to hear, which isn't necessarily what you WANT to hear.
2. Understand the timetable with which your family is dealing
You will be moving your family into a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan. This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. Your agent cannot pick or guarantee the exact date of your move, and unexpected things happen all the time in real estate transactions (that are out of anyone's control), but your agent should exert any influence they can to make it work within your plan as much as possible. This again is where an experienced agent - who has dealt with more challenges and sold more homes than most agents - can be an invaluable asset to have on your side. Remember that when you select an agent to hire, you should base that decision largely on what they 'know' as opposed to what they 'do'. Those who know more and have more experience will most likely be the ones who do more for you - and will do a better job at it.
3. Negotiate like a champ, removing as many challenges as possible
It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market. Remember: If you have an agent who was weak negotiating with you up front, don’t expect them to turn into a superhero when they are negotiating with the buyer or seller for you and your family. They need to treat your money like its their own, and you better not leave that task for anyone other than a seasoned expert.
4. Find the right house (or sell mine fast)!
There is a reason you are putting yourself and your family through the process of moving. You are moving up, moving down, or just moving on with your life in some way. Regardless of the reason, it is important or you wouldn't be dealing with the headaches and challenges that come along with buying and selling. Do not allow your agent to forget these motivations. Remind them if necessary that finding the right house, or selling your current home quickly and for top dollar is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. rethinking price, etc.), insist they have the courage to inform you and be up front and honest. Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT!
Parts of this blog post were from a blog post originally published on June 18, 2014, by the KCM Crew at Keeping Current Matters - http://bit.ly/UN1RtT.
Author:Steve Fiorella Phone: 612-388-8186 Dated: June 26th 2014 Views: 4,694 About Steve: While spending his days in technology sales, Steve realized that his love for helping people and fri...
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"We were assigned to the Fiorella group when we were relocating to Minnesota. How lucky we were. Steve and his group did a great job finding a home for us and used his vast knowledge to help negotiate the purchase price. We then turned around and moved back home to Chicago three years later. This is where Steve and his high-end realty expertise came in. There are two major points that make the Fiorella group stand out... professional photos and staging. Steve and his group understand how the majority of buyers think. We had three offers in two days on the market. Buying/ selling a home is very stressful and the Fiorella group takes so much of that stress off our shoulders. :)"