For some buyers and sellers the prospect of dealing with a agent brings forth unknown fears. Although some agents are genuine and reputable and consider their clients best interest as their top priority, there’s no dearth of unscrupulous individuals either who are just trying to make a quick buck at someone else’s expense. As a buyer or sellers of a property, it’s your responsibility to decide on a estate agent prudently. So, here is a look at what you need to know about property agents when you approach one.
What does a agent do?
Depending which side he’s doing work for (the buyers or the sellers), the realtor acts as an intermediary between the customer and owner and helps to perform the London property for sale sale of a property. For his services, he emerges a commission from his client (seller, buyer or both). When working on behalf of owner, the agent is accountable for putting the facts of a property in the multiple listing services of the area and undertaking other efforts such as home staging to market the property.
In case there is a residential property, a agent may start out by adding the facts of the property on his personal or company website based on whether he’s an integral part of a realtor firm or works on his own. The next thing would be to market the property through postcards and advertisements in property magazines offline along with online.
Besides marketing the property, the agent who lists your house can be accountable for following up with other agents who could have clients that will have expressed fascination with the property. A realtor can be supposed to assist you negotiate the most effective deal possible. He/She is with you every step of the way till the home comes; advising you on all matters including procuring the services of a lawyer.
When working from the seller’s side, a realtor is accountable for rummaging through the property listings of a place that his client is interested in. He coordinates with the agent handling the property on behalf of owner and arranges to show the premises to his clients. A agent from the buyer’s side also really helps to negotiate the most effective deal for his client and is with the customer during the purchasing process. He’s also accountable for approaching a specialist to acquire a property evaluation done. Some property agents may also offer other services such as advice and help for procuring home loans.
Agent can don three mantles that of an intermediary on behalf of owner, the customer or perhaps a dual agent. When buying a house, it will be better to hire the services of a real estate agent who are able to focus on your side, exactly the same is valid when selling a house as well; you’d be better of approaching a agent who works for sellers.
The Sellers Real Estate Agent: A realtor working on behalf of owner may have his loyalties towards his client an she or he will try his hardest to convince owner to give his client the best deal. So, as a buyer if you had been to ask the seller’s agent if his client would accept a higher deal, he will be obligated to not divulge these details to you.
The Buyers Real Estate Agent: Similarly agents who work on behalf of owner owe their responsibility to their clients and will try to get their clients the highest deal possible. So, they’ll not be willing to supply information how low their client should go with regards to the price.
While property agents are available of marketing properties, it’s not uncommon to allow them to play up their credentials; all things considered, it’s a dog eat dog world and there is obviously no dearth of realtors in the market. While this is acceptable, a lot of people resort to lying blatantly about their accomplishments and often their customers find yourself investing in their tall claims.
So, ensure that you check all of the claims which can be being created by a possible estate agent. Don’t hesitate to request references. If he hasn’t mentioned his experience in the brochure, ensure it is a point to ask him about it. Also, inquire about other properties he might have sold of much like the one that you want to sell/buy; this may include properties in the sane area, of exactly the same size and price range.