Why do you need a realtor?
If you are looking to sell your own home, or purchase one, what use is it to have a realtor? Good question. The answer is simple, although, if you are trying to sell your own home you can do it yourself, it is fraught with risk of messing up the legality of it all. For instance, neglecting to mention a few details or not doing your legal due diligence and getting all the information to sell the property according to the rules can quickly land you a hefty fine or worse, depending on the level of the mistake, jail time. This can happen even if you have good intentions, small legal mistakes like happen all the time, for instance, forgetting to look in the land title office for any certifications of pending litigation, builder’s liens, or zoning restrictions, restrictive covenant attached to the property or any of the 100 other things necessary to sell your home can too easily lead to a lawsuit. So, make sure you do your homework. Now, if you’re a buyer, you likely will have to have a real estate agent to help you find the perfect home for you, keep you aware of all the legal rights, obligations and drawbacks attached to any given piece of land. After all, this is a government regulated agency that requires every realtor to study all the nitty gritty specifics of purchasing a home to avoid the plethora of pitfalls anyone can fall into.
Tips for choosing the right one for you:
Are you working with someone who you feel is genuine, sincere and has your best interests at heart? If not, then run for the hills because more often than not when it comes to working with a realtor, you’re going to need someone who you can trust, someone who won’t breach your agreement of confidentiality, someone who understands what you’re seeking, and someone who is willing to fight to get you the best deal, if you don’t like them and you don’t think they’re genuine, because the bottom line is you will have to spend time with them and will need to trust them.
2.Look up licensing.
This is a simple but crucial one. Simply ask yourself, ‘’is the person I’m about to enter into a business agreement into certified?’’ Working with someone who claims to be a realtor but doesn’t have a license is like going into a heart surgery with someone who’s never gone to medical school, its bound to be a train wreck. So, you want to make sure you ask them what brokerage there with or where their certification. There’s also a real estate board in B.C. you can contact to get more information about any realtor.
Whether you’re buying a home or selling one, you want to make sure the agent you’re working with is one familiar with the local area and who understands what you’re looking for. This can play a major key as there are specifics about every neighborhood, city, and town in the province that can make or break your decision to purchase. If your agent is unfamiliar with the area, make sure they do all the necessary due diligence about the home and you have a sufficient enough time to check out the area for yourself.
4.Don’t Let an Agent ‘’Buy Your Listing’’
If you’re selling, and a real estate agent makes you any grandiose promises about being able to sell your home for a higher price than any other realtor in your local market, you should take it with a grain of salt. The reason is because they’re likely telling you what you want to hear to get their listing or just aren’t familiar with the market. The marketplace dictates what the house will ultimately sell for, not the agent. Also, overpricing your home can have an adverse effect on its ultimate perceived value as its been proven repeatedly overpriced properties stay on the market longer and sell less than if they had been properly priced from the beginning as most sellers end up then undervaluing and getting desperate after they don’t initially sell and buyers become skeptical about the home because of the length of time its been on the market.
Ask how long they’ve been in the business and how they intend to sell your home or if you’re buying help you purchase one. If they’re not that experienced, ask if they’re apart of a team or how they plan to sell your home as they may still have access to senior brokers who will be willing to help them out a lot to see them rise up because it would benefit the entire brokerage and reflect positively on them. It’s important to work with someone who can help you get to where you want to go, whether that be buying or selling a home.
In conclusion, to pick the right realtor for you, make sure you choose one that you resonate with, is legally licensed, experienced (or has access to experienced people), and, if you’re selling trying to ‘’buy your listing’’.
Bonus Tip for Sellers:
Get your house appraised
If you’re uncertain of the value of your home and don’t just want to rely on your agent to tell you what it’s worth, contact an independent appraiser and for a few hundred bucks usually, you can get your home appraised to get an idea of its value. This information can be powerful when it comes to deciding the listing price of your home and can give you more certainty for a price that gets you the true value of your home. Also, along with this appraisal, you should also entertain the idea of getting your house inspected as most serious buyers will likely be doing it themselves and if you can identify the areas that need fixing before, and take care of them, it’s possible it may increase the value of your home. Now, increasing the value of your home if you’re a seller, is another whole topic outside the scope of choosing a realtor. However, if you’re interested in discovering more about it though, check out this free e-book which reveals 7 things you can do to increase the value of your home before selling.