The Real Estate market is quite competitive and finding the right Realtor to walk with you through buying or selling your home is key to winning. There are so many options to choose from, thus vital to know what qualities make a good realtor.
Real estate investing can be an enjoyable process with a smooth completion if you make a smart investment in a great realtor. For you to make the right choice with the Realtor, here are tips on choosing the right Realtor for your investment.
Check for Knowledge of the market and Experience
Before you commit to a realtor, you should find out if they are familiar with the area in which your property is located. The influence of the area market plays a significant role in buying or selling a real estate property. Find out how long a realtor has spent in the area if they are familiar with the schools and social utilities, taxes, and other real estate sales.
The knowledge on micro-neighborhoods should boil down to overall experience in the field of real estate investing. Sure, you may not want to judge somebody’s potential by how long they have been selling homes, but it is safer to work with someone who understands the business’s highs and lows.
Experience has a way of teaching things you may not learn in school. Find out how long the Realtor has been a licensed agent and how many homes they have sold. It is alright to ask for references and follow up with them to know their take on your potential Realtor.
A good realtor believes in the power of marketing and actively uses it. For anything to sell, it must be marketed, attract interested buyers, and finally get a deal.
Ask your Realtor to share with you their marketing plan and walk you through it. Some agents will place a property on MLS and wait; this may take ages with an extremely competitive market. A good realtor should mix up different marketing strategies to reach a bigger market of interested buyers. A few examples include:
- A clear, professionally done signage that includes the Realtor’s contact.
- Take advantage of social media sites to raise awareness of the property. It can include virtual tours.
- Sending email campaigns about the property to neighbors and giving feedback promptly when they get responses.
- Word of mouth to colleagues, family, and friends. Realtors have good exposure with their colleagues since they belong to an alliance body.
- Use lockboxes to set up physical viewing of the home and gather feedback.
- Follow up on competing listings via email.
- Paid partnerships with famous brands. Instagram has become a great site to use for business promotions. The Realtor can present a budget for this before committing.
Good Communication Skills
Successful home selling or ownership depends on effective communication between the parties involved. What is the general responsiveness you experience when you talk to your Realtor? Do they answer phone calls or return emails on time? What is the overall body language when you meet to discuss? Tension is a barrier to effective communication.
A realtor with good communication should be able to keep you on the loop every step of the way; if there are changes in offers, both you and the potential buyers should know. They should be able to genuinely listen to what the seller or buyer wants and advise accordingly whenever their input is needed. The Realtor should understand the form of communication the customer and clients prefer. Some people need phone calls, while others prefer an email or a simple text message.
Without argument, negotiation skills are vital in getting great offers or striking a good deal in real estate investing. Realtors with good negotiation skills should present the investment as a win/win for both the buyer and the seller. Striking the deal should look as if it came from the buyer rather than coercion from the Realtor.
Negotiation requires control of emotions and patience; buyers do not want to feel rushed or forced to buy. You can test this in a realtor by asking them lots of questions and asking other people who have dealt with them about how they felt dealing with the Realtor.
How well does your Realtor understand the market prices? This factor is critical when they are bargaining with potential buyers. Lack of knowledge in this area could cause you to lose money or potential buyers. Realtors start offers at the market prices so that when a deal is closed, the seller gets an excellent offer not lower than the minimum they were willing to accept.
Be able to Offer Solutions
Marketing a house and getting to the point of closing a deal may be smooth, but sometimes problems and nitty-gritty issues may arise. A realtor who has a solutions-first mindset is a smart investment. They can understand the client or the customer, their timelines, and work to ensure both parties are satisfied.
Attention to detail is vital in having a problem-solver mindset. Small details such as a furniture arrangement, colors, rooms and room positions, etc. are crucial to striking a deal. Keeping track of the market process and updates on comparable housing prices is also a stronghold for a realtor; when taking up a client’s offer, this will come in handy.
Access to After-Sales Services
Realtors with connections to mortgage loans are rising nowadays, although this offer comes with strict rules and regulations. This addition can be a plus for your customers if you verify that they have the professional credential.
Realtors also have access to great property appraisers, and they are legally allowed to talk to them. You can save yourself the hustles of looking for a real estate appraiser when your Realtor has access to one. Additional perks such as moving services, home staging companies, and contractors are also excellent tips to look out for when picking a realtor.
Finally, listen to your gut as it is your best bet in picking the right Realtor for your investment. Consider your relationship with the Realtor, how you communicate with each other, and the enthusiasm level between you. Go for someone you can count and depend on, rather than someone you do not trust.
Ask your trusted friends and close family who have bought or sold homes and compare experiences on the choices and options that worked or didn’t. If you feel uncomfortable, it is okay to let a realtor go and look somewhere else. Implement the above tips as a guide in finding a realtor who will take care of your investment.