Real estate property deals are usually complex because there are always involved legalities. One has to pass through a completely legal procedure whether he/she sells or purchases commercial or private property. Real estate laws vary in the US from state to state. One must abide by these laws to proceed legally. A layman is unaware of legal terms and court proceedings involved in property cases. So people are left with the option to hire a realtor or real estate company. These companies have trained agents who have ample knowledge about real estate laws and the worth of properties in their locality. It is a misperception that real estate agents handle merely the sales and purchase complexities. They tackle tricky matters related to leased, mortgaged, and rented properties. People even seek their help while formulating wills. Their knowledge about the ground facts is, most of the time, more than a legal advisor. However, you do have to be vigilant when looking for the best real estate agent.
Things to Consider When Hiring a Real Estate Agent
There is a specific qualification required to become a real estate agent. Not only qualification and course but one has to follow an extensive method to be a realtor. You must interview the real estate agent and visit his/her company before moving on to a decision. Consider the following factors when hiring a real estate agent:
Number One: License
The US has set an eligibility criterion to get a license for the real estate business. A person has to be at least 19 years old and must be a legal resident of the US- only then can he/she appear for the state real estate examination. If he/she passes this exam, the next step is to find a reliable real estate broker. Then he/she will be issued a license by the state to follow a real estate career in that particular state.
When you search for a real estate company or a realtor, the first thing to be inspected is the license. This license helps you to know if the person is experienced or not. It is not a rule of the thumb that new realtors are incapable of handling your property case. However, it is better to hire a professional because they have been through this procedure before and know about the bottlenecks in this process.
Number Two: Number of Cases
Experience is the second most important thing that has to be well-thought-out to hire a top real estate agent. It happens that people do it as a part-time job and they usually lack experience. An experienced company helps you sell property at the best price and buy it within your budget. Experienced realtors know all details of the area where they operate. They meet insurance companies on behalf of their clients because the insurance company becomes a direct stakeholder if a home that the client wants to sell or purchase is insured.
Number Three: Communication Skills
The next thing that helps in a real estate business is communication skills. A real estate agent has to communicate with a number of buyers and sellers daily. How can you expect an introvert to get you fair pricing for your property and affordable custom home sales? A realtor has to be proficient in the language of that particular area where you are finalizing the deal. It is a plus point if he/she speaks more than one language.
Number Four: Market Standing
You can inspect a real estate company in more than one way. Ask for references from the company that you intend to hire. Meetings with the former customers of a company can help you get the information that you need. They can tell you if the company actually delivers what it promises. It is better to avoid hiring real estate companies online. You can get an online quote but meet them personally before entering into a contract with them. Read online reviews about this company and use all wits before making a decision.
Number Five: Property Laws
It is true that a real estate company is not a law firm and the relator is not a legal advisor. Still, they have to be fully aware of all property laws which are followed in a state. Contractual details are finalized in an apt way only if a realtor has legal knowledge. A person who hires a real estate agent is naïve and he trusts the skills and expertise of his agent. This is why the US has set a pre-licensing real estate course and exam. A candidate is tested in this exam if he/she is well-versed with all property laws and legitimacies or not.
Number Six: Juxtapose More Than One Realtor
Not all real estate companies offer the same services. Their expertise, rates, and scope differ. It is better to select two or three real estate agents and compare their services. Real estate agencies offer online quotes. A person seeking a reliable realtor can get more than one quote. Hire the company that fulfills your requirements at affordable rates.
Number Seven: Contract with Realtor
A contract is a legal document that has details of all parties involved in an agreement. Agreed upon demands of all parties are mentioned in the form of clauses in this piece of paper and copies of this contract are delivered to all stakeholders. A real estate company keeps a copy of this contract in its possession. From basic credentials to intricate parleys everything is mentioned in a contract. A real estate agent take signatures of all parties of the contract. If a property is sold or bought then a title deed is signed after signing the contract. The legal proceeding of rented and leased properties are more complex. Sometimes real estate agents sell mortgaged properties. It is advisable to read the contract more than one time.
This article has been contributed by Lily Madison.
