6 Tips To Work Better With Your Real Estate Agent

Most real estate agents enjoy working with buyers and sellers, but some consumers make their lives more difficult. If you do that, you could make it harder to purchase or sell your home.

Below are some simple tips to remember when you contact a real estate agent.

Real Estate Agents Are Paid On Commission

When you contact your trained and experienced real estate agent, remember one thing: they are paid on commission. So if the agent doesn’t close the deal, they don’t get paid. That’s why most agents work hard to please you.

Only a few agents work on salary. If they do, you may want to hire another agent because they get paid no matter what.

Because they work on commission, it’s essential to be respectful of their time. A big complaint from real estate agents is when they spend hours showing homes to someone, and the buyer goes with another agent.

You are probably best off working with the skilled agent with whom you’ve developed a relationship.

Don’t Call The Listing Agent If You Have A Buyer’s Agent

If you don’t work in real estate, the different types of agents can be confusing. Remember that the listing agent always works for the seller, not the buyer. Unless you’re experienced in real estate, it’s not recommended for a buyer to work directly with the listing agent.

It’s best if you are represented by a buyer’s agent who will represent your interests by getting you the best deal.

Besides, the seller pays your agent’s commission anyway, so you have nothing to lose by retaining a buyer’s agent.

Be A Prepared Buyer

Many people who want to buy a house call a real estate agent first. But that’s not what you should do. Instead, it’s essential to be prepared financially for your home purchase.

That means saving money for a down payment and getting pre-approved for a mortgage first. A mortgage pre-approval means a lender has reviewed your financial information and credit score and pre-approved you for a mortgage.

A pre-approval shows that you can close the transaction. This is important for all parties, so no time is wasted.

If you make an offer on a home without pre-approval, neither the seller nor the real estate agent may take you seriously.

Don’t Argue With Your Listing Agent About Price

Are you selling your home? Then you’ll contract with a listing agent to complete the transaction. If you select an agent experienced in your neighborhood, they should have a good idea of what the home can sell for in the current market.

Most sellers think the real estate agent wants to sell their home for less than it’s worth. This is usually because they’re emotional about the property or need a certain sum from the sale.

Experienced listing agents caution against listing a home above a realistic selling price. But, on the other hand, some think it’s okay to ask too much for the house because you can always lower it.

However, listings get the most activity in the first three or four weeks. Therefore, it’s essential to take advantage of being new on the market with a realistic selling price. It simply won’t sell if it’s listed too high.

If you drop the price a few months later, buyers may think something is wrong with the house. But, of course, you don’t want that, so listen to what your agent says about your home value.

Be Skeptical Of Automated Home Value Estimates

If you want to sell your home, it’s easy to go online and get an automatic home value estimate from various websites. But those estimates should be taken with a big grain of salt.

Figuring out what your home is worth is both art and science. A website algorithm may give you a rough idea, but it doesn’t know about the unique characteristics of your home and community. And it definitely will not account for that excellent elementary school down the street.

Your listing agent knows your area and home and is usually the best resource for a realistic selling price.

Listen To Your Agent

The real estate agent has been at this game for a while, and they know real estate and your community. So if they recommend doing something to make the home easier to sell, you should pay attention.

For example, research shows homes with an unpleasant smell take longer to sell. After you live in a home for years, it may smell of dog, cooked food, and who knows what else. Those smells can become embedded in the carpet and furniture.

If the agent says you need to do something about the odor in your home, don’t take it personally. It happens after you live in a home for a long time.

Consider having the furniture and carpets cleaned. Also, a recent study shows that real estate sales jump 20% when the home has a simple aroma, such as vanilla or lemon.

A skilled and experienced real estate agent is the best information source when you want to buy or sell a home. Following these easy tips will foster a more effective and open relationship with your agent, and that will pay off in the end.