Whether you’re buying or selling a home, it is probably one of the most important financial decisions you’ll ever make. It’s important to make sure you hire the best real estate agent to help you through this process.
With so many available, how do you choose the best one for you?
The first person home buyers and sellers may think of hiring is someone they know, such as a friend or cousin. They may either feel obligated or want to hire this person as a favor. Many times this is not the right choice.
Instead, think of this agent like any job candidate, you should interview several to find one who will meet your expectations and help you during every step in the process.
Here are a few questions you should ask:
1. What makes you different from other agents?
Living in the town or knowing the neighborhood isn’t enough. The agent should be able to outline what makes him or her stand out from the rest. Can the agent provide you with complete and unbiased honesty? When buying a home, an honest agent will alert you if a property is out of your budget or the location isn’t right or even if there is a potential issue for future resale. For home sellers, the agent should give you an honest analysis of what your home is really worth, and many times the best agent is the one not telling you what you want to hear about price. The agent should also be versed in the direction the market is heading so that you can plan accordingly.
2. How many homes have you sold in the past few years?
If the agent is not regularly selling homes in today’s market (at least two a month) then he or she probably will not have the experience to handle the complex process of selling yours. Experienced agents will not push you into buying a house you aren’t sure about because they have numerous transactions going on and don’t need to rely solely on yours for income. Successful agents want you to find the right home — not just any home. If you’re selling your property, you’ll want the whole process to go smoothly so you can get the most money in the shortest amount of time with the fewest hassles. You will benefit from their experience when it comes time to negotiate an offer. Negotiating is like a poker game; there are many tricks of the trade to get you the best deal.
3. How often will I hear from you?
A good real estate agent must be a strong communicator. Find out how often the agent will stay in contact with you. Is he or she part of a team or working alone? If the agent goes on vacation or gets sick, who will take over?
4. Is this your full-time job?
Selling your home or helping you buy the right one should be the real estate agent’s number one priority. A part-time agent means part-time marketing, part-time negotiating, and full-time headaches.
And finally, here’s a question we often hear from sellers.
5. When selling your home, should you hire the agent with the lowest commission?
NO! Do not make your decision on commission. Remember you are selling what is probably your largest asset, and the wrong agent can cost you a lot more than the 1 percent you saved in commission. Keep in mind, if an agent cannot even negotiate a commission, how can he or she get you top dollar for your home? The old saying “you get what you pay for” could not be truer when it comes to real estate.
The process of buying or selling a home takes months, so take your time and ask the right questions.
John McGeough and Anthony Lamacchia are the brokers and owners of McGeough Lamacchia Realty in Waltham. Send questions to Address@globe.com. Follow us on Twitter @MLRealtyNE.