Making Sure You Work With The Best Real Estate Agents
Real estate, like several other areas, has benefitted from the digital age and the ability to call and retain far more information than in the past. The trade-off here is that there are still some fundamental things that haven’t changed. For example, no matter how much independent research you do, you’re still going to be extremely reliant on having an experienced real estate agent. This is especially important when luxury home buying in San Diego, or selling depending on your needs. You want to make sure you are getting the most return on investment, either way.
Note that finding a good real estate agent to sell or buy your residence isn’t always about who gives the slickest initial presentation. You’re building a long-term relationship with big stakes, so you want someone you can trust. Here’s how to make that happen.
Understanding The Role
The majority of real estate agents are independent contractors who get paid a commission based on what they sell. This commission that is paid from the sale proceeds generally gets split between the listing and selling agents. After that, they pay a share of that to the broker who owns the house they are affiliated with.
When you’re initially deciding to buy or sell your residence and find your agent, there are a few ways you can start your search. Like many professionals, if you can get a referral from a friend or relative, that’s the ideal place to start. Not only does the professional have approval from someone whose opinion you value, but the recommendation is also based on your specific needs. Not everyone has that as an option, though. A good secondary way to begin your search is by simply looking around your neighborhood for places that are for sale or were recently sold in your neighborhood. If you start seeing a few recurring faces or names, you can safely guess that the agent knows the area well and has a decent track record of success.
Many people are also quick to say you can use online reviews to help find your real estate agent also. This is a bit of a yes and no situation. Online reviews rarely tell an entire story of something as prolonged and complex as a house sale or purchase. On top of this, the bulk of customers an agent has aren’t likely to leave a review, regardless of how their experience was.
When you’ve narrowed the field a bit, we can talk about some basic questions you should be asking any luxury realty company in San Diego. Ideally, you want to be doing this with three or four separate agents to ensure you find the best fit. As a start, it’s a good idea to ask how many listings the agent has. You may not necessarily want to have someone who is overly booked if you need to sell or buy a place in a hurry. Equally important is asking about fundamentals about how many properties they’ve sold, and in what area/what type those are. Equally important is establishing exactly what format they are going to use to communicate with you, and what frequency you can expect updates about the sale.
There are also specific questions you’re going to want to bring up if you are a seller or buyer. For example, sellers should be focusing on how exactly the agent is going to market their residence. What exactly is the target buyer most likely to give an ideal price for your property based on the features? It should also be determined exactly how they will put your place in front of these ideal buyers.
For those who are buying a residence, it’s important to ask how the agent is going to send you a listing, and whether or not they have worked with buyers in similar situations. You may also want to talk about signing a buyer-broker agreement. Under these agreements, buyers agree to pay a share of the commission of the agent who shows them places where the seller doesn’t pay a commission. Examples of these include new construction properties and for-sale-by-owner homes.
Red Flags To Find
While you’re going through this questioning, you’re not just looking for answers, but also certain trends about the real estate agent themselves. So, here are some red flags to weed out poor fits so you can have the best luxury realtor in San Diego working with you.
One thing you want to look out for is if the agent you’re talking to is suggesting the highest price possible for your house. This is why it’s important to work with at least 3 or so agents before making a final decision about who to sell or buy a property with. These agents will each give you a listing presentation where they explain what homes similar to yours have sold for and how long it takes approximately to sell. Since all agents are basing these presentations around the same data, they should be relatively close. If the residence is priced too high early on, it means that it will likely take longer to sell, generally for less.
Other potential red flags are a real estate agent who has another job or is only working at this part time. The reason for this is that as a buyer or seller, you want an agent who is on top of the market in your area every day, whether they’re looking at new listings or available at all time to show the home for potential buyers. In addition, you want an agent with experience in your neighborhood. In some areas, a block’s distance can wildly change the value of your home. You want to make sure your agent is in tune with these factors.
By finding the best match with this information, you can have the perfect agent partner when selling or buying luxury homes in San Diego.