Long-term real estate practice has allowed Black Stone Estate Agents analysts to systematize the erroneous expectations of clients who apply to real estate agencies. As a rule, their understanding of the real estate market is based on the experience of friends, acquaintances and fragmentary information from the Internet. Therefore, simultaneously with the solution of the “housing issue” it is necessary to acquaint the client with the basics of how to choose a good realtor.
The Main Misconceptions When Choosing A Realtor
- I will work with the realtor who appreciated my apartment more than anyone else
The experience of the Black Stone Estate Agents agency shows that the apartment is assessed by the market, not by the realtor. Overestimating the cost, the latter will only waste time. They say that time is money. This is so, but, in our opinion, it is also wasted nerves.
- I will choose a realtor who offered the minimum commission
Saving is useful, but there is a nuance. In this case, the choice of “the most budgetary realtor” is one of the ways to lose money and time. An experienced specialist is always in demand; he values his time and competence. An experienced realtor is able to anticipate possible difficulties of the transaction, as well as find hidden opportunities for success in some situations. As a result, he will save a much larger amount for the client than that which he will spend on paying for his services. In the overwhelming majority of transactions, the realtor’s remuneration, in comparison with the cost of the apartment, falls into the “interval of indifference,” in the language of statisticians. It is worth saving on it only if you want to test the saying “The miser pays twice” on your own experience.
- I will go to a large agency
In fact, contacting a large agency is not always the path to success. In large real estate companies, there is often a whirlwind of personnel. A lot of trainees are trying to start their careers there, who can, perhaps, make “cold calls“. From there, newbie’s leave, who cannot enter a deal and start getting good money. All this together makes it difficult for experienced employees to earn money, who also begin to “look at the door.” In this situation, there is a high probability of getting to a novice specialist who, with your help, will learn from his mistakes.
A Good Realtor: Who Is He?
What Distinguishes A Professional From An Amateur?
An experienced realtor will immediately tell the client the market value of his apartment. He knows the real prices of transactions in a particular area and their dynamics. He understands and will be able to convey to the client the idea that when conducting an alternative transaction, it is important not only to get the maximum price for the apartment being sold, but also to quickly select the appropriate option for purchase within its price.
He will not skimp on advertising and will place an ad (in the “premium” status) on popular platforms, the effectiveness of which has been verified by his personal experience. He will take advantage of the discount provided by advertising services for the volume of publications. Moreover, any professional has his own set of advertising technologies that can effectively inform potential buyers. Many of them now use mortgages. The realtor takes this into account in his work. He will display the apartment on a portal where mortgage clients can get a discount on the interest rate.
A good realtor will definitely be present at the show of the apartment together with the client. He will meet the buyer at the entrance, talk to him before and after the visit to the apartment. What may at first seem like a waste of time to the client will turn into a source of important information at the right time. And also … At negotiations and when making an advance payment, a competent realtor, yielding in the client’s opinion to the buyer’s requirements, in fact, will defend the key points of client interests. His goal is to reach the most profitable deal for the client, and not overwhelm the opponent with his professional competencies.
What Is The Main Task Of A Realtor?
To significantly increase the likelihood of a real estate transaction is the main task of any professional realtor. He guarantees a high-quality legal due diligence, will not allow buying illiquid assets, an apartment with utility bills, or getting into a situation where a crowd of forgotten heirs will try to sue the buyer for the apartment. And remember that the real master of the real estate market will manage the sale of the client’s apartment, and not indulge his emotions and whims.
Finding Help with Moving Professionals
We hope you found this blog post on How to Choose a Good Realtor: Major Client Misconceptions useful. Be sure to check out our post on The Real Estate Home Buying Process for more great tips!
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