+852 2158 9730

7 Real Estate Rules To Follow When Working With Agents

Prejean is the Business and Finance Blog covering topics such as Business, Finance, Insurance, Investing and Home Based Business

There are several misconceptions about real estate agents. Selling properties isn’t a high-paying slacking job. It comes with sweat, frustration, and liters of diesel. They run back and forth to meet clients, find properties, and close deals to earn their keep.

It’s only right to know the rules to follow when dealing with real estate agents. Below are seven rules you must observe once you meet with a listing or a buying agent. Do this to ensure they guide through buying a luxurious bgc condo.

1. Make the agent selection a personal matter.

Think about the pros and cons of working with representation. Decide if you want to go directly to listing agents or you want to find a separate agent. If you wish to hire your own, make time to interview them. It will let you know if you are comfortable working with them or not.

Let the agents know you are in the interview stage. As much as possible, go for agents from different companies. Don’t take in different agents from the same company.

2. Understand the commission terms of the agent.

Few real estate agents have salaries on top of their commission. Most selling agents get a commission whenever they close a deal. They won’t earn their keep if there aren’t any transactions. Hence, agents are highly-motivated to provides the best service and do their job well for their customers.

Agents are not public servants. Do not expect them to do a pro bono. If you plan to lowball or cut the agent out of your deal, you must not hire one in the first place.

3. Share your expectations.

If you want your agent to pick you up so you can visit the property at the same time, you must tell it. They can’t provide the service you expect them to perform if they don’t know it. Be open to communication. Select your channel and set how frequent you want to receive updates and news.

Most of all, set realistic time frame and goals to find the perfect home. Supplying feedback helps them find a property suitable for you and your family’s future.

4. Expect a broker agreement with the buying agent.

Sign a buyer’s broker agreement to know the agent’s duties to you. It also explains the clauses and your working relationship. Before signing any papers, ask the difference between Exclusive and Non-Exclusive Buyer’s Broker Agreement. If you are not ready to sign, do not request for properties. It will avoid any procuring clause.

The agent must release you from the contract once you are dissatisfied with service. You have the right to hire a new agent. Respectful agents prioritize their clients’ goals.

5. Choose only one: the listing agent or the buying agent.

A listing agent works for the seller. If you are buying, don’t hire a listing agent for representation. The agent will be subject to work under dual agency and conflicts of interest may occur. An agent showing you a property expects to represent you. However, listing agents don’t want to undertake the buying agent’s job. Let them perform their roles accordingly.

6. Observe open house etiquette.

Always consult your agent before going to an open house. It is not advisable to go to house visits alone in some areas. After the tour, be sure to hand a business card of your agent yo the realtor hosting the open house. Doing so protects you from buying agents looking for unrepresented prospects.

Participate in the conversation and mingle but leave the questions to your agent. Your agent is likely to use a better approach to inquire about the seller and the seller’s motivation.

7. Be present and on time for appointments.

Time is money, especially for agents. Be respectful of their most valuable resource. Remember, you aren’t the only client in their book. If you set an appointment, be sure to show up. Use your rendezvous to cover as much as you can so you won’t waste both of your time.

Use common courtesy. If you are running late, inform the agent and let them know your estimated time of arrival. Also, don’t expect your agent to drop current appointment or engagement to cater to your needs.

Agents are also people. They have different personalities, motivation, and working style. They maintain a professional stance to satisfy the customers they serve. Before working with your agent, be sure to sign an agency disclosure and agent agreement. Check all papers and communicate your expectation for a smooth, hassle-free transaction.

Leave a Reply

Your email address will not be published. Required fields are marked *