There are many reasons that REALTORS provide invaluable information and guidance when your buying or selling Real Estate. The importance of having a Realtor in hot housing markets, like we are in these days, has never been more important. Most people do not know that there is a big difference between a buyer’s agent, who represents homebuyers during the purchasing process. Plus, a listing agent who specializes in listing homes for sale on the Multiple Listing Service (MLS).
Let’s take a closer look into the ways an agent can represent you, and the services and benefits you should expect from a Realtor.
Why Should Homebuyers Hire A Buyers Agent?
If you are looking to buy a home in a particular city, area, or community, it’s important to hire a local Realtor, who knows the area and understands the local housing market. An agent can guide you towards the neighborhoods and homes for sale that match your budget and lifestyle requirements. They should be knowledgeable about the schools in the area, restaurants, local shopping, and what type of jobs are available. They typically have a pulse on what is happening with home sales, prices, discounts if applicable, and upcoming listings, that haven’t hit the open market yet. All of these things can literally make or break your efforts in hot housing markets, where the properties sell fast and for top dollar.
Moreover, a Realtor can ensure your offer is structured to succeed with all the supporting documentation that will be needed, to ensure the sellers your serious and can close!
Lastly, a buyer’s agent gets paid their commissions from the seller, just like the listing agent. There is not usually a fee to work with a buyer’s agent, although different Brokers have their own rules about this.
What Does A Listing Agent Do?
A listing agent is charged with selling your property for an agreed-upon price range, for a set commission that typically ranges from 5% to 6% of the sale price. That sounds pretty simple but it’s far from it. In fact, quite a bit of work and knowledge goes into pricing the property correctly. A listing agent has to ride a very fine line because they want to get the top price for their listing, without overpricing it. Since no two homes are exactly alike it can be challenging to pull this off successfully.
However, seasoned listing agents are experts at pricing homes for sale and should have a proven track record of success, in the area you are looking to sell a property in.
They should also pay for all the marketing necessary to sell the property, which can include online advertising, print and magazine ads, flyers, and other creative ways to get the word out and create a buzz around your listing. Your Realtor should handle all of the negotiations on your behalf and be able to successfully contract a suitable buyer.
What is A Realtors Commitment to Their Clients?
Overall, A realtor should have your best interests at heart! In other words, you should feel like you are working with an intelligent person, who will make sure that you don’t make mistakes, that could hurt you, during the home buying/selling process. Now that being said it’s also important to understand the different ways that real estate agents can represent you, the most common are as follows:
- Transaction Broker – A transaction broker is defined as a broker who provides limited representation to a buyer, a seller or both, in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent.
- Single Agent Representation – A Single Agent is defined by Florida Statutes Chapter 475, Part I as a broker who represents either the buyer or seller of real estate, but not both in the same transaction. It is the highest form, providing the most confidence to the customer that the Realtor represents only the customer’s interest.
Most agents are Transaction Brokers and have a responsibility to the transaction, more than for either the buyer or the seller. This works fine, and you can absolutely find a realtor who you trust, who will ensure that you find the home of your dreams, within your budget.
Where to Find The Best Realtors to Represent You?
If you don’t have a family member or close friend who is a real estate agent, then you can easily find one who is perfect to represent you. Depending on what type of sale you need to be handled, will no doubt will dictate which realtors you should be interested in hiring.
For example, if you are looking to sell a $500k single-family home within a gated, golfing community, you will want to find out what agents are successfully selling those types of homes and properties in your neighborhood. When you’re looking to list a home for sale on the MLS, the realtor commission that you agreed to, which is typically between 6% to 7% gets paid when the house sells no matter if you hired a new realtor fresh out of school or the best realtor in your city who sells hundreds of homes per month. Financially, all things being equal, you should hire the best Real Estate Broker in the area.
When you’re looking to buy a house things are a bit different because there are many agents who are well qualified to show properties, properly structure offers, and negotiate price and contracts effectively.
Who Are NextHome In The Sun Realtors
NextHome In The Sun provides the highest levels of service to our valued clients. Our Realtors are professional, successful people who have your best interests at heart. The guidance you receive from our agents is unparalleled in the industry today, and that is why we get more satisfied clients, repeat business and buyer/seller referrals.
Whether you want to buy a new home or sell your existing property, we are here to help you step-by-step through whatever needs to be done to exceed your expectations.