Buyer: Get a Realtor
If you decide to buy a house without an agent:
In most cases the seller, not the buyer, pays for the commission for the sale of a home.
Here is the list of what you should look for when qualifying your Real Estate Agent:
- Your choices will be very limited.
- You can only buy homes that are “For Sale By Owner” (FSBO).
- Mostly the selling prices of the FSBO homes may be equal to – or higher than those listed by agents.
- You may find it difficult to make a determination whether or not the house is worth the asking price.
In most cases the seller, not the buyer, pays for the commission for the sale of a home.
Here is the list of what you should look for when qualifying your Real Estate Agent:
- Is the agent currently active in your area?
- Can your agent provide you with references?
- Have you worked with the agent in the past or do you know someone who has worked with the agent? What did they think about the representation?
- Make you feel comfortable and confident while others make you feel anxious or pressured?
- Specialize in areas where you live, or want to live?
- Have any references (ex. past clients)?
- Answer your questions promptly and respond to your calls quickly?
- Inform you of new listings (if you're a buyer), or sales progress (if you’re a seller) and suggests new strategies as the listing period progresses?
- Suggest that you become a pre-qualified buyer to ensure the best financing?
- Prepare a comparative market analysis and marketing proposal.
- Give your property the broadest marketing exposure possible.
- Prepare a descriptive brochure about your property, with photographs and attractive description of benefits and features.
- List your property on the Multiple Listing Service and on the Internet.
- Create Virtual Tours to market your listing over the Internet.
- Hold an open house for the local real estate agents as soon as possible after the property is listed for sale.
- Keep you informed about local market conditions.
- Follow-up on the showing and give you feedback from agents who showed your home to potential buyers.
- Give you suggestions on how to improve the marketability of your home.