When you're buying or selling a home, you may look into acquiring the services of a realtor. This can be a good choice as realtors are experienced and have the legal know-how you'll need when buying or selling a home. Of course, if you've never used a real estate agent's services (or even if you have!) it can be hard to know real estate protocol. Landmark asked realtors online on what their "rules" would be when working with a realtor. Here are their helpful answers!
1. Once you've started working with an agent, don't contact any other real estate agents.
When you begin working with a real estate agent to look for a new home or put yours on the market, you usually enter into a contract with them. This is called an Exclusive Buyer/ Seller Representation Agreement and guarantees the buyer or seller will work only with that real estate agent for an extended period of time. That means when you see a home you like, you don't call the realtor on the sign, you call your realtor and tell them you want to see the home.
When you've entered into a contract with a realtor, they are your representation for any home sale or purchase. They are the "middleman" who takes care of you financially and legally through the home buying and selling process. Don't cheat on your agent.
2. Trust your real estate agent's expertise.
When you begin to look for or list a home, you are hiring your realtor because you need their knowledge and skills. A real estate agent has education and experience on buying and selling homes and has been licensed in your state to do so. When you enter into a contract with a real estate agent, trust their expertise. Even though you might think your home should be listed for a higher price, if the agent wants to lower the selling price, trust them. They know the market. Many real estate agents find that homeowners who have lived in a home for a long time want to set a higher price on the home because they have emotional ties to the place. Your real estate agent doesn't have an emotional connection to the home, so let him or her give you their unbiased recommendation. It's in their best interest to advise you well.
3. Communicate with your agent.
As one agent put it, "I can't fix it, if I don't know about it!" When you begin working with a real estate agent, communication is key. Explain what you want and when you want it done. Your real estate agent will work to accomplish your goals. If you're looking at a home and you don't like certain aspects, tell your realtor. Don't be afraid to explain what you dislike about a home. That way, the realtor will be able to find homes that fit what you want and need easier. If you're having hesitations on purchasing or selling, talk to them. They can help you ... it's their job!
4. Make the home easy to show.
If you are selling a home, make sure your house is clean (and stays clean) so the realtor can show it to potential buyers. Work around the seller's schedule, and make sure you are not on the property while it is being shown. That will allow the potential buyer and realtor to discuss the property without concern. Some potential buyers have a hard time with pets too, so make sure your furry loved ones are away from the home during a showing.
5. Treat your realtor with respect.
Finally, and probably most importantly, treat your realtor with respect. You have hired them to help you buy or sell a home, however this isn't just their job, it's their life too. Remember to keep in contact with them. Make sure you aren't asking them to move their schedule around you"“ they have other clients, as well as a family. They will do everything they can to help you and work with you, but understand if they have other obligations. Finally, don't ask them to cut their commission. This is their livelihood.
If you're looking for a home, or selling a home, ask your real estate agent about a home warranty. A home warranty is a lot like an appliance warranty or home repair insurance. A homeowner pays a small service call fee for repairs and replacements of their failed systems and appliances. With this home repair insurance, homeowners can save thousands of dollars. A seller can sell their home faster and for more money with a home warranty on the home. A buyer usually feels protected with an appliance warranty or home repair insurance like a home warranty on their new home. For more information about home warranties, go to www.landmarkhw.com.