Buying or selling a home is a big life decision, so it’s important that you have the right real estate agent at your side helping you make the best choices for you and your family.
Here are 5 questions to ask a potential agent to ensure your interaction and partnership is a happy one:
1. How long have you been in real estate?
In real estate, experience counts. Does the agent know the condo market as well as single-family homes? Have they dealt with historic properties? What neighborhoods and price ranges do they usually work in? An agent with experience in the local market will best be able to serve your needs, whether it’s selling a house your family has outgrown or helping you find a new place to call home.
2. How much will you charge to sell my home?
If you’re selling your home, you will be required to pay a fee to all agents involved, though the percentage varies. This percent is split between the buyer’s broker and the seller’s broker. The commission covers marketing costs such as advertising, signage and open houses.
Buyers, on the other hand, don’t pay an agent a direct fee. “We do go over fees with them such as closing costs and down payment so they know their costs ahead of time, but none of this is a fee charged by the agent,” says Kate Shulaw, an experienced agent with Real Living CCR Real Estate in Lima, Ohio.
3. How do you plan to market my home?
Ask for presentations from three different companies to see what services they offer. Note the comparable properties each uses to determine your sales price. Ideally, all three will be within the same price range.
Ask for specific details on how each company plans to advertise your home. Since a large percentage of buyers make their first real estate contact through social media, find out how each company plans to market your property online.
4. Will you represent me exclusively?
Although it’s legal in most states to represent both parties in a transaction, it’s a difficult tightrope to walk. “In Ohio, we can have dual agency,” says Shulaw. “I don’t always recommend it. You can kind of muddy the waters with it. There are a lot of agents that do it well, but for a newer agent, it’s really tough.”
5. Can you recommend a banker or mortgage provider?
Agents should be able to put you in touch with several providers. “We can help guide them,” says Shulaw, “but I also ask people to do their own due diligence on it.”
When choosing a realtor, experience is key. Look to a local real estate broker like Real Living CCR Realtors, recently named a finalist for the Lima/Allen County Chamber of Commerce Small Business of the Year Award. For more information about their services, visit realliving.com/ccr-realtors or call 419-222-0555.
