In the current information age, it would be possible to buy a home almost completely without the help of real estate professionals. However, that’s not the most advisable way to go about it. The housing market is quite distinct. Each city and even neighborhood has specific local customs and laws you need to understand. This is why you need a team of professionals to guide you.
When choosing an estate agent to buy property, what you need is a buyer agent. Depending on your agreed-upon terms of payment, you may have to pay them directly, hourly or on a contractor’s fee. Sometimes they split the commission that the seller’s agent gets upon sale. Owing to the complicated nature of property transactions and hybrid agencies, ask the agent about conflicts of interest.
A referrals is one of the best ways to find the right agent. Ask everyone you know, including co-workers, family members, friends and local business people. Your local store owner may just have purchased a home and knows a reliable agent. Ask as many people as you can and start compiling a list. If you are planning to buy property in an area you don’t have networks or contacts you can get potential agents online or from relocation representatives.
Ask the right questions
Find out if the agent is full-time or part time. The full time agent is likely to have more time for you. If it’s important to you how experienced the agent is, ask how long he or she has been in business. Listening to the agent is equally important as asking the right questions. Pay attention the questions the agent poses. A very important question a savvy agent should ask is whether or not you have a loan pre-approval.
Signing an agreement
There are high chances that your agent will ask you to sign a broker’s agreement. The document will commit you to working exclusively with the agent for a predetermined amount of time. If you are not sure that your relationship with the agent will work, ask for a short-term commitment. Most agents will give you the opportunity to negotiate the time period you are comfortable with.
The right agent can help you buy property faster, get a better deal, and guide you through what can be a daunting process. So you’ll want to hire a buyer agent who suits your specific needs. Feel free to contact Jeremy James and Company for any queries and or professional service.