Real estate broker choice: what to keep in mind?
It often happens that people planning to sell property hire the first broker they see and entrust him a deal worth thousands of dollars. Is it reasonable to make the choice so quickly? What should you learn about a broker to hire this person?
You might have heard that getting a real estate license as a broker is a quite simple task, so there are thousands of novice brokers who enter the market every year. But are they experienced enough to cope with pricey deals? Some experts complain that people make the choice of the realtor occasionally without trying to learn who is a good agent and whose services are better to avoid. The majority hires people recommended by someone familiar, but it doesn't mean that you'll be fully satisfied with the choice. Nobody wants to be treated by a surgeon only because he is a good person, it's important to know how professional and experienced this doctor is. The same goes for real estate brokers, so you should know how to choose one both if you are a seller and a buyer!
Good broker for sellers
When a person decides to sell a home, he needs someone to price it respectively, start an effective marketing campaign, and conduct price negotiations that may lead to significant discounts.
How to find such a person? If you don't have anyone to hire, look for advice from colleagues and friends you trust. You can also visit a brokerage company and ask who has completed deals in your area successfully recently or read reviews from other clients who always praise good job and try to secure others from hiring the wrong person.
When you find several candidates, hold an interview with each of them. Ask about experience in your neighborhood and if not, ask to recommend a trustworthy specialist to you. It's great if a broker has much experience mentioned in a resume, but a huge list of achievements may distract your attention from a skillful and full of energy young real estate agent working great too.
You can also ask a broker to show his listing presentation as well as visit other properties with him or her to understand how he is going to act when buyers of your property will turn up at showing.
Be careful with brokers who tell you only those things you want to hear. Even if he evaluates your home in millions of dollars, and you understand that it's far from being the truth, it's better to avoid such so-called professionals. The same goes for brokers who emphasize the perfection of your property and don't spot any imperfections. You'd better hire a sincere and direct person than a handshaker.
One more aspect that plays an important role is how pleasant your broker is. Too strict and determined negotiators may push people off, so look for an agent who appeals to others but also can close deals with benefits for you.
Choosing a broker for a buyer
If you hire a broker to purchase property, look for a professional to ask important questions. He should be interested in timing, your budget, and mortgage prequalification, for example. It's also important to choose a person well aware of the area you like, knowledge of the specific housing types, and good negotiating skills.
A reliable buyer's broker should also be a careful listener and have a good intuition to choose a really worthy estate. This person can not only follow your instructions strictly but also be courageous enough to offer buyers decent home examples even if they don't exactly meet the requirements issued.
Sometimes it's possible to hire a team of brokers where every person is responsible for one narrow direction like marketing or staging. However, when you work with several people simultaneously, not all of them will have a clear understanding of what you really need in fact. Therefore, you should explain to everyone on the team what your requirements are and ask every person to deal with only one direction they usually do.
How to break up with a broker
There's no sense in dealing with a person who can't meet your expectations, so break up with a broker easily. Despite a possible listing agreement that usually lasts for 6 months you can stop cooperation with a broker by warning him about not accepting any offer he'll make.
When it comes to sellers, they should ensure they have a list of contacts a broker spoke to. Otherwise, they may lose potential buyers even if they made an offer and it was accepted. The best way to do that is to sign a contract with a broker and indicate a period there when he or she's eligible for claiming a credit for people on the list.