You might be tempted to avoid a real estate agent, but in most cases the risks of going it alone likely outweigh the benefits.
If you decide to buy a house without an agent:
- Your choices will be very limited.
- 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.
Do you think twice when you look at the commission that you will have to pay to the agent?
In most cases the seller 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?
Does your agent:
- 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?
If you are looking to sell your home too, here are some things you should expect your agent to do:
- 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.
- Hold an open house 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.