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How to Find a Real Estate Agent: 3 Tips to Keep in Mind

Posted by South Dakota Housing Authority on Feb 11, 2016 2:37:19 PM

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Choosing the right real estate agent can depend on a variety of factors. You need to establish a level of trust with the person who’s representing you so you can feel confident that you're receiving the best service to meet your needs.

There are a few key factors to keep in mind in your search for the ideal agent.

Ask The Right Questions

The best first step is to ask friends and family for recommendations. Once you’ve found a potential agent, ask if he or she is full-time, how many clients he or she is currently handling, how quickly and often he or she can communicate with you and how well he or she knows your desired neighborhood or city. At the end of the day, ask yourself these questions: Have you heard good things from friends about this agent? Does he or she know your needs and your financial limitations?

Do Your Research

Remember to do your research – ensure your real estate agent of choice has completed training and has the credentials to properly represent you and ask about how long he or she has been doing realty work. Find the right person to help you find the most ideal living situation. You need to feel comfortable trusting your agent to get you the best deal possible.

Understand Contracts

Some real estate agents and brokers may ask you to sign a contract to work with them. You'll need to know how much you're willing to commit to a given agent, as well as how much commission you're willing to potentially provide. These contracts traditionally come in three possible forms:

  • In a nonexclusive not-for-compensation contract, the broker or agent will not receive compensation, the buyer can use the services of additional brokers or agents and either party can end the agreement at any time.
  • In a nonexclusive right-to-represent contract, the broker or agent may receive compensation (paid by the buyer or another party) if he or she presents the house the buyer purchases. It typically cannot be broken unless outlined in the contract.
  • In an exclusive right-to-represent contract, the buyer is prevented from using additional agents or brokers during the agreement, a commission to be paid is outlined, the contract typically lasts longer and it usually cannot be broken.

Just Remember

Your real estate agent is your representative throughout the home-buying process. Select one with which you feel totally comfortable so that you can feel confident you're getting the best possible selection and optimum deal.

 

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Topics: Homeownership