Home Renovation

6 Newbie Guidelines for Buying & Selling Real Estate

When it comes to buying or selling a home you need to find a trusted real estate brokerage who will offer value and ensure your best interest. Selling or buying property is a big investment combined with a lot of paperwork and regulations.

Only an experienced real estate company will be able to sell or help buy a home for the right price and you will feel confident every step of the way during this process.

However, there is the confusion between a real estate agent and a real estate broker. What is the difference?

  • The real estate broker is licensed and manages a real estate company representing clients in buying and selling property.
  • A real estate agent is more a salesperson also licensed to represent property buyers or sellers.

Real estate agents are hired by real estate brokers as the brokers are more qualified, experienced and must undergo examinations to receive the brokerage designation. A Real Estate Brokerage is an organization that is involved in the real estate markets and have an in-depth understanding of laws, policies and regulations including market forecasts.

There are many guidelines to select an experienced real estate agent:

1. Contact a real estate brokerage firm

The brokerage firm is highly qualified to assign you with the best real estate agent with the right credentials, appropriate licensing and knowledge of the market you are buying or selling in.

2. Services offered by the brokerage

Look for a differentiator. There are brokerage firms that offer a client advantage plan where the firm has associations with relevant organizations such as interior design and décor, furniture and moving companies that can support your plan.

3. Learn about your real estate agent

Once assigned with the agent, you want to see if the agent is noting all your expectations and can provide you with recommendations on your initial property buying and selling plans. Be careful of agents that just want to sell to earn their commissions.

The best way to learn more about your agent is to attend an open house which will provide you with an understanding on how your agent interacts with prospective buyers. Are they friendly, knowledgeable, approachable and provide lucrative information to make informed property investment decisions.

4. Read your contract thoroughly

It is easy to overlook the fine print on a contract. Always take time to review the terms and conditions to avoid any surprises in the future. A good agent will provide you with a thorough understanding of the contract terms and be willing to make certain adjustments to meet your specific requirements.

5. Be mindful of good ethics

A real estate agent that aims at fulfilling your needs, protects and promotes your interest, markets your property at the right price based on it condition, gives good advice on market options, is honest and open during the process, and adheres to the laws and regulations, is the right agent to work with.

Real estate agents are governed to follow a certain code of ethics and conduct in the industry. Make sure to review the code of ethics for awareness purposes.

6. Be aware of financing options

A real estate agent can introduce you to mortgage specialists where your chances of financing your property can be made a lot easier. The real estate agent can provide you with some advice such as the down payment requirements, taxes and other payment options, but to have a more definite perspective of financing, the real estate agent will introduce you to a mortgage specialist.

If you are only selling property, the real estate agent will ensure the buyer of your property can source out a mortgage or finance provider so that your property can be sold easily and without delays.

Always work with a real estate brokerage that protects and promotes your best interest, is ethical and can differentiate their services in the market.

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