Recruiting a real estate agent? Here’s what you should know
While there is no hard and fast rule that you must do your home purchase through an agent, getting one helps in saving your time and energy throughout the purchase process. Choosing the right agent when buying a property can go a long way in making the purchase deal a win-win situation for all involved. Besides their skills in negotiation, real estate agents bring a lot to the table in terms of their experience, contacts, knowledge and so on. So how can you possibly choose the right one from thousands of prospective agents? Here we discuss some criteria that would give you a fair idea of what questions you need to ask while choosing an agent.
Is the agent credible enough?
Spend enough time on reviewing the agent’s customer testimonials. It is better to spend time on searching for a good agent than writing a poor review for an agent who made a mess of the deal. Find out if they have the mandatory certifications and if they are licensed professionals as prescribed by the local authority. An easier way to go about this is to ask your friends to recommend real estate agents who have helped them with their home purchases.
How long has the agent been around?
Phrases such as “well experienced”, “amazing track record” are very common tags that agents use to promote themselves. But the question is ‘what real experience do they have?’ Ideally, an agent who has been in the industry for at least a decade should have some reasonable knowledge of the market dynamics. In fact, agents who have been around during real estate booms or crashes would have either surfed the high tide or would have survived the eye of the storm. It’s also important to keep things in perspective and ask how many homes the agent has sold over the last year or so. This will help determine how active the agent is – you don’t want to end up with an agent whose been doing business for “20 years” but has only sold 5 homes.
Is the agent familiar with the local market?
It is best to recruit an agent with a good experience of the local market, especially in the area you’re looking to buy your home. Such an agent would have a fair idea of the best streets and housing communities and the ones that should be avoided in a particular area. So whether you are buying a property locally or away, get an agent who has good knowledge of the particular area in question.
Is the agent really knowledgeable?
Be sure that your agent knows the ins and outs of the business – it’s their bread and butter. Question them about things you have learned through your new-found interest in real estate. And if they seem know less than you do, you should consider looking for a more qualified agent.
How well is the agent connected?
In a vast industry such as real estate, successful agents are the ones, who are well connected with fellow-professionals. The simple reason being that they would have instant access to saleable properties before they come up in the open market. It simply boils down to who you know and not just what you know.
Choosing an agent can be one of the important steps towards a successful and convenient home purchase. Once you are clear with the factors discussed above, you can be assured that your agent will be a catalyst to the purchase process. From sourcing properties on sale to negotiating and taking care of the legal requirements, they’ll be doing all the hard work in your purchase and let you glide over the extensive process of home buying.
Guidance Residential offers Sharia home finance and Islamic home refinance through their Sharia compliant, Declining Balance Co-ownership Program. With a commitment to provide the best quality and by adhering to Sharia principles, we have financed $3.3 billion and have become the #1 U.S. Islamic Home Financing company. To learn more on why Guidance Residential is the #1 U.S. Islamic Home Financing company, click here.