When you’re looking to buy a new house, it’s easy to be overwhelmed by all the steps and terminology you need to know. If you’re not familiar with the world of real estate, starting out can feel intimidating.
However, knowing just a few things about this industry will allow you to walk into your next home purchase confident and informed. In this blog post, a Jacksonville FL Realtor shares what you need to know about real estate agents.
What Do Real Estate Agents Do?
Real estate agents help buyers, sellers and renters find the right property. They’ll assist you in all aspects of your home search, including working with a lender and marketing your home if you are selling. They can also provide guidance on whether a home is a good fit for your needs and give insight into the local market’s recent sales trends.
A real estate agent will also help you understand the steps involved in buying or selling a home and guide you through each one. Every state has different regulations regarding real estate transactions, so it’s important to work with an experienced agent who is well versed in their local market’s laws and requirements.
How Do I Pick an Agent?
If you’re ready to buy a home, your first step should be choosing an agent. There are many different agents you can work with. A real estate agent will generally fall into one of two categories: a buyer’s agent or a seller’s agent.
A buyer’s agent represents the interests of the homebuyer, while a seller’s agent is more aligned with the seller’s interests. It may come as no surprise that most agents advise potential clients based on what they think will lead to their highest commission, so it’s always essential to ensure your realtor aligns with your goals and needs.
To get started, you can ask neighbors or friends for recommendations or check with your local Realtor association to find an agent in your area. In addition to these sources, you can also research any agents you are considering.
Be sure to ask about licensing requirements and any affiliations with local home builders or other individuals who may try to sell their houses. You should also look into each agent’s track record and see how long they have been in the business.
How Can a Real Estate Agent Help You?
When you’re ready to buy a home, a real estate agent can help you do your due diligence in choosing the right property. A good agent will guide you through the process of locating and evaluating each property and ensure that you are well prepared to make an offer on a home.
An important aspect of this process is pricing. Your agent can help determine the price range for homes in your area, whether it’s based on recent sales data or just an educated guess about what kind of price the market will bear for the type of house you want.
In addition, an experienced real estate agent will be able to provide market analysis for different areas and even suggest additional comparable properties that may be worth considering as well.
How Do Real Estate Agents Get Paid?
Real estate agents get paid a commission for every house they sell, typically a percentage of the sales value up to a maximum amount. Buyer’s agents earn their money through the buyer, while sellers’ agents earn their commissions from the seller.
Because of this, it is important to ensure that your agent has your best interest at heart. While there are some general guidelines for what a certain percentage means in terms of price, there is a lot of room for interpretation and negotiation between you and your real estate agent.
A good agent will be able to advise you on what they feel is a fair share of the sale price as well as negotiate on your behalf in order to optimize your outcome.
Choosing a real estate agent is one of the most important decisions you will make when buying or selling a home. Working with someone who is familiar with your local market and is experienced will help you navigate the purchasing or selling process.
In addition, by taking the time to interview agents and check their qualifications, you can feel confident about your choice.
Once you’ve made an offer on a home and the seller has accepted, your agent will review the purchase agreement for you to ensure that all the terms are in compliance with your local laws. They’ll also make sure you’re aware of any concerns that need to be addressed during the inspection process.
If you are selling a home, your agent will help you price it appropriately and market it to potential buyers. A great real estate agent will do their best to find as many potential buyers as possible by marketing your home on different platforms and ensuring that potential buyers can get in touch with them easily.