The ins and outs of working with a real estate agent, why you should, and what they do...
At what point do I get a Real Estate Agent involved?
The sooner the better.
If you are simply toying with the idea of selling, talking to an agent can give you an idea of the current market, whether you have some updating to do first, recommended price range to sell at, and so much more. The information can help you decide if and when you want to put your house on the market.
If you are browsing homes on an app, talking to an agent can get you focused on what you are looking for and what is in your budget.
How do agents help with house showings?
Real estate is a full-time job. If you are selling your house, people want to see it. Having an agent gives you the freedom to continue your daily life without having to schedule in showtimes. If you are buying a house, agents can work around your schedule to do evening showings, or wait until your day off and have 2, 3, or even 8 showings in a day.
How do agents help with finding homes?
Knowing what you are looking for in a home allows us to set up an automatic search for you, so no home is overlooked. Technology speeds up the process of finding, getting into, and putting an offer on a house. Because this process happens quickly, especially with a hot market, an agent helps you get in more homes, faster.
How do agents help with faster closings?
Managing paperwork and who gets what and when is no walk in the park. Having an experienced agent relieves you of the stress, knowing they have it under control. Closing on a home is a process, and agents know that process.
Who do Real Estate agents work for?
The short answer is - You. When you sit down with an agent, they have you sign a contract stating that they are working for you. For that transaction, whether you are buying or selling, they are contractually employed by you. They will work in your benefit during negotiations, both monetary and not. Your agent will look out for your best interest.
When and Where do real estate agents work?
Everywhere, all of the time.
Real estate is not a 9-5 job. Your agent may not be available 24/7 but will reach out at the earliest available time.
Agents work a floating schedule around your schedule. They work for you and want to be available to you. Sometimes that means working until 10 pm, sometimes it means leaving home at 5 am. Some agents may give you their schedule open times, others may ask what your availability is. Each situation, and market, is unique.
Agents often travel for their clients. However, if they feel it's in your best interest, they will refer you to another agent in the area you are looking to move to. An agent in the area will know the market and save you time.
Can a real estate agent represent the buyer and the seller?
Yes. An agent may help you sell your home at the same time they help you buy your next house. These are two separate transactions that do not conflict with each other.
An agent may also be working with the buyer and seller of the same property, however, it is a trickier situation. The agent must work for both the buyer and seller as separate transactions and cannot disclose information they know as an agent for the other party that they would not be privy to otherwise. The transaction is allowed and must be handled carefully by the agent.
How do Real Estate agent fees work?
Who pays them? When do they get paid?
Real estate agents are independent contractors who are not paid a salary. Their commission check does not come in until after a sale is finalized.
In a typical transaction, the commission comes from the seller in an agreement they signed when listing the home. The agreed percentage or amount is then split between the seller's agent and the buyer's agent.
Your agent works on faith that you will stick with them after they show you several houses. They want to build that relationship and trust because most transactions do not happen overnight. You will not typically fall in love with the first house you walk into. Life-changing decisions take time, and your agent knows that. Your agent wants the best for you. They learn your likes and dislikes from each property visited, and not visited.
What all can real estate agents do?
The list is frankly endless. Your agent will manage and guide you through the process of buying or selling your home. They will show you homes, or show your home. Real estate agents have experienced a number of scenarios that give them knowledge and expertise. By sharing their previous experiences, they can give you information and insight to help you make decisions. They will explain the choices for you, and allow you to make them. Ultimately, the home will be yours, the loan will be yours, and the decision is yours.