How To Work Well With Your Real Estate Agent
How To Work Well With Your Real Estate Agent
There are a lot of tips out there to find out whether you have a good real estate agent or not but, as you can imagine, there are ways to make the whole process smoother.
There are a few bad apples when it comes to real estate agents, and it's the same for clients too. At the end of the sales process or the handing off of the keys, everyone wants to walk away happy and satisfied. So let's go down the list of how to avoid the common pet peeves of real estate professionals.
Tell them what you're looking for in a home.
Real estate agents cannot read your mind. A good agent will ask you a lot of questions if you're vague - that's fine - but make sure that you're using concrete terms and definitions for what you're looking for. Instead of saying the words "dream home" over and over, think about what that dream home looks like, what features are in it.
You don't need to go down to granular details like the light fixtures but paint a picture. A great realtor will eke out the details they need to get started but if you provide them with just what they need, the whole endeavour will be that much faster and smoother.
Your budget.
This might take some work. Buyer clients often don't have the entirety of the house's cost in their bank account. This means mortgage payments and dealing with fees and banks and brokers. As a real estate transaction, this is something your real estate agent can help with - you're still the client after all. Knowing, however, the range of your budget is going to prevent a lot of headaches and heartaches as you embark on the journey to find the right property.
Sellers are in another position, selling a home meaning getting a home inspection report, something best left to the real estate agent after you made initial contact. You should tell them your expectations so that they can work toward your best interests as they get in touch with a potential buyer's realtor. As the listing agent, they will be responsible for presenting your property in the best light during the selling process.
The neighbourhoods you're interested in.
As a buyer, it's important to make clear the boundaries you're working within. After all, you need to think about your commute and other factors. If you don't know the neighbourhoods in the city you're planning to live in, then it's time for some research.
As potential buyers, you can rely on your agent but most agents will be glad to see that you've done your research too. Knowing the neighbourhoods can make a big impact on the time the search will take. If they bring you to the wrong neighbourhood then you know that they either have a great argument in favour of the property or they have not been listening to you.
If you're selling then it's also worth talking to the agent selling your home about your new neighbourhood so that you can glean some important information from them. They may not be representing you in the purchase but can still talk about the area.
The type of home you're interested in.
As you read this, you may be saying "well yes, of course" but it's worth repeating. A lot of people go to a real estate agent and they just want to buy the cheapest home they can find. When that doesn't happen their response is to say "I didn't mean that I wanted a fixer-upper!"
If you say "three bedroom detached bungalow on a quiet street" then agents can start searching for that. Real estate has a lot of terminologies, you don't need to know all of it. Over the years, some agents do develop a pet peeve when it comes to clients constantly using the word 'townhouse' interchangeably with 'condominium'.
If you are in the market for a fixer-upper, make a note of that and if you're looking for something but well-maintained, let them know just as well. If you're unsure, ask. It's better than having the agent realize later that you didn't know what type of properties you're looking for.
Your preferred timeline for finding and buying a home.
You can't just say "I can wait" and leave it at that. It's like saying you're on a budget but not giving the agent an idea of what your finances are like this year, last year, how much credit card debt you have, etc.
Choosing a timeline is important because it will determine what the homes are worth showing you. They will factor in the time needed for a home inspector, setting up the multiple listing service, and contact other agents if need be.
Leaving the time frame open can cause far more problems than you might imagine. If you're selling then it might mean that you overshoot your window for getting a good price on your home as other sellers have more pressing needs and if you're buying then that means that you could spend a long time waiting instead of preparing to move into a new home.
It's not about rushing, it never should be, it's about making sure your needs are met in a timely fashion. It will also help your agent keep you in mind during your sell/buy window.
Any special requests or needs (e.g., wheelchair accessible, pet-friendly).
As a buyer, you're going to have some special requests. It's important to think about these before meeting with an agent so that you can be as clear as possible about what you want your home to have. That way they don't waste time showing you homes that aren't workable for your situation.
You may also want to consider the new neighbourhood if you have a special needs situation. For example, if you're looking for a wheelchair-accessible home then some neighbourhoods may be better than others in that regard.
You can also ask your agent to see homes that are pet-friendly or child-friendly as well. Don't just assume that because you wanted to see a home with x amount of bedrooms that the agent will be able to tell if you're looking for a place that fits bunkbeds or that can accommodate a teenager and a toddler.
The more information the better. Houses come in all shapes and sizes, like your family, and the business of finding the right fit can be overlong without the right information. Of course, real estate agents double-check all the time but it will be easier for everyone if you make things clear.
Your preferred method of communication with your agent.
Real estate agents have a lot of clients they have to keep in the loop and you also have a lot of things you need to juggle.
Email tends to be the most used form of communication but if you want to talk to your agent personally, then it's a preference you need to make clear. E-mailed listings make sense in the beginning but as you're moving toward the purchase of a property, it's normal to call. Whether you're a seller or a buyer, it's a good idea to keep in close contact with your agent.
Real estate agents like to keep everyone in the loop to prevent miscommunication but they don't want you to deal with things that waste your time. Everyone involved is trying to find the right house for the right people and most agents are willing to accommodate the needs of their clients.
Whether you'd like to be shown all available homes, or just the ones that fit your criteria.
Sometimes, especially if it's your first house, you may not realize all the things you may need. That's okay. Some real estate agents feel that it's more productive to stick to the criteria you showed them while others may want to show you something that could save you a great deal of money.
The point that you have to get across is what you are willing to do with your time and that of the agent. Real estate moves fast and so do realtors. You should not rush into a decision but a sale where you have to pay less for a few compromises might be worth it in the long term.
Then again, there may not be anything in the world that would make you budge from your criteria. If that's the case, to avoid everyone a headache, make that clear to the agent. A buyer's agent works to represent their client and only gets paid when they satisfy them.
How often you'd like to be updated on new listings and price changes.
In the real estate market, a good listing doesn't last very long. A home sale can happen very quickly and an owner might decide to pull the trigger on selling the perfect property for you. Still, getting sent listing after listing every half hour might be the healthiest thing for your inbox.
There will be time-sensitive moments but when it comes to the early stages before a contract comes into the picture for a sale, it's important to keep a reasonable pace so you don't burn out. It's not exactly a pet peeve of some agents but they can tell when you feel like your head is spinning from taking a look at a listing as it flies by.
Your personality type (so your agent knows how you like to communicate).
At the end of the day, everyone is different and while there are some things all human beings have in common, getting a house has a lot to do with who you are as a person.
If you want to make sure your agent understands that you like someone who speaks concisely but politely, then it's important to ask them questions about their communication style. While some like to keep it brief and informal, others tend to get quite verbose when they get on a roll about things.
Like for any kind of relationship, communication is key. If you're introverted and dislike phone calls, let that be known. This can also help agents refine their search to find properties that suit your quirks in one way or another.
Whether you want to be involved in the negotiations associated with buying a home.
Some people like to be involved in the negotiation process while others don't. It's better to let your agent know in advance. When you hire an agent, you're also hiring a skilled negotiator specialized in real estate sales but if you want more control and knowledge about the sale entails, you may want to tag along.
Any services or amenities that are important to you (e.g., schools, commute time, pool).
Clients that remain tight-lipped about what makes the property the wrong one for them are one of the most common pet peeves for agents. A house has a lot of moving parts that can affect what makes them good or not. It's perfectly normal to change your mind as you go through the search but be sure to update your agent.
When it comes to their future home, buyers should be picky. The point of having a real estate agent is to help you find the right property for your family as a whole.
To summarize: give your agent as much information as you can.
There will be things about your situation that may not feel relevant to the sale of a house, mention it anyway. If you love baking and have a disabled dog, talk about it. If you're unsure about your finances, discuss that with your agent. If you hate phone calls between four and six on weekends, tell your agent.
Everyone wants to walk away happy and that only happens with plentiful communication.
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