How much do real estate agents charge to sell a house?

This will depend on different factors like the market and the type of property. One thing that you need to keep in mind is that neither the State nor the Federal government have the power to influence the rate. Whatever the rate that you agree on with your real estate is allowed.

Before you can proceed to sign any document, there are things that you need to know;

What is the real estate commission?

This is the percentage that you will have to pay the real estate agent for selling your house. The percentage is calculated in relation to the sale price. So the higher the sale price the higher the commission. The commission for the real estate agents is usually between 1 and 6 percentage.

It is important for you to know how the commission is determined. Most of the time the commission is usually influenced by the selling price of the house. The higher the selling the higher the percentage will be.

Keep in mind that the percentage is negotiable and you need to be careful when you are negotiating the rate.

Note that you will have to sign a contract when you hire a real estate agent. There are three different types of contracts that you need to sign;

  • Exclusive rights to the sell listing
  • The exclusive agency listing
  • Open listing

What if you can’t afford the commission?

Today, many people are not able to afford the 6% charged by the realtors. A friend of ours that is a very honest Realtor, said that when you find yourself in that situation, you can employ the flat fee.  That’s something to consider, and our buddy Tom up in Southern California wouldn’t lead you down the wrong road with the wrong information because he’s been around for a LONG time. Also think about when can afford a fee, you need to only use the agent when you are closing the deal.

You can use the different agencies to market your property. They will however charge a fee for their services. The fee will be lower than the realtor fee that you will pay.

You need not worry because most of the realtors are reputable. It is however important for you to know what is involved in the services that are included. Keep in mind that the inexperienced realtors may be unfamiliar with the processes that are involved in selling a property.

You, if you sell the house by yourself, then you will not be required to pay the commission. It will however be challenging trying to sell the property by yourself. A realtor will help you find the best offer.

How to select a good realtor to sell your property

Selling a property can be hard especially if you are doing it by yourself. That is the reason why hiring a realtor can be the best decision that you ever make.

The one challenge that you are going to face is choosing the perfect realtor for you. There are different factors that you need to consider;

  • What credentials do they have?

The first thing that you need to do is conduct a research on the different credentials that they have. I spoke with Tim at Chatsworth Real Estate Agent, and he told me that you should strong consider that your realtor should be a member of the National association of realtors. If they are indeed members, then you can be convinced that they are qualified. This is because before they can get the title they have undergone training to demonstrate their skills.

Another thing that you need to focus on is the licensing and the awards that they have received. The realtor that you choose should have the current license. It is important for you to look up your realtor from the real estate board. Every state has a real estate board that you can use to get all the information that you need.

  • Check out their reputation

The best place to start is to use the past clients. You can search around for the clients that have used the realtor that you want to use. Most of the realtors tend to have websites that people use to post their experience.

  • Beware of the red flags

It is important for you to pay attention to the red flags if any. One of the red flag that you need to be on the lookout for is the pricing. If your realtor suggests very high price, it a bad sign. This is because the price of the property will be determined by the market and also other influencing factors.

If the realtor works part time, it is not good sign too. You need to choose a realtor that will dedicate their time to finding the best buyer for your property.

  • Conduct the interviews

Before you hire the realtor, you need to conduct the interviews. You need to ask them about their experiences and the number of years they have been in business.  You need to also ask about the kind of properties that they have handled in the past.

It is also important for you to ask them about the number of clients that they have dealt with in the past, because if they’re first starting off, while they may not be entirely bad, there’s just a better chance that they are inexperienced and haven’t had the chance to earn a reputation of excellence. So go with someone who has good experience and who can show quite a bit of references.

Licensed real estate agent VS. Unlicensed; everything you need to know

Selling or buying a house is a challenging process if you decide to do it yourself. That is the reason why you are advised to secure the services of a real estate agents.

One of the challenges that you are going too face is choosing the right realtor to represent you. Why? Because there are many different realtors in the market. You therefore need to be cautious enough when you are choosing the best realtor.

Now, one of the distinction that the realtors have is their legality. In other others there are those that are licensed and others are not. Before you can proceed to choose either one, you need to know the differences between both.

Recognition by the state

Obviously, the licensed realtors have been recognized by the state and thus they are allowed to work as real estate agents. When your realtor is licensed, it means that they have undergone additional training so as to receive the credentials that they have.

The unlicensed real estate agents may be operating illegally as you must be registered by the National Association of realtors. You can check here: https://portal.reaa.govt.nz/public/register-search/.

Experience

Yes, if a realtor is licensed, they have the experience of selling houses. As mentioned above, for one to get a license to operate, they usually have undergone additional training and have impeccable skills.

Reputation

It is very hard for you to work with an unlicensed agent. This is because they can be unreliable. Acquiring a license will help improve the reputation that the real estate agent has.

Cost of services

Of course, the unlicensed real estate agents are cheaper compared with the licensed ones. The reason why the licensed realtors are expensive is because they factor in their experience and also the cost of hiring assistance and paying for the office rent.

Although it may be tempting to go with the unlicensed agents, it can cause problems for in the future. Especially when it comes to filing of the legal documents of the house.

Knowledge of the selling process

The licensed agents tend to have knowledge of the selling process and can facilitate a smooth acquisition of property. You know there are documents that must be signed and you need a person who understand this to handle your property.

When you want to sell or buy a property, you need to have a person who will represent your interests in the best way possible. That is why you need a licensed real estate agent to handle the sale.

10 things you need to consider before buying a new home

Buying a home can be exciting and challenging at the same time. That is the reason why you need to consider the following factors if you want to buy the best house.

  1. The option of having a realtor

Before you decide on buying a house, you need to consider the option of hiring a realtor. Trying to find the best house for you can be hectic. That is the reason why you need to hire a realtor. They will be able to study the market and find the best property for you.

It is important for you to research on the different real estate agents in your area. Try to narrow it down to the agents that deal with the type of market you are looking for.

  1. The amount of money that you have

You know, it will not be easy for you to buy a house without having enough money. Even though having a budget is good, having small amount of money can limit your selection. That is the reason why you need to figure out the amount of money that you have.

It is important for you to formulate a plan especially if you have limited finances. When you make a plan, you will have to set a goal for achieving the amount of money that you need to buy the house that you want.

  1. Consider mortgage

You need to consider the option getting a mortgage. There are different institutions that you can use to get the best mortgage options. Keep in mind that mortgages tend to be more expensive compared to buying the house upfront.

  1. Consider the location

The location of the house matters when it comes to the security. It is important to note that the location will influence the final price.

  1. Your current and future needs

You need to decide if you will live in the house for the long term.

  1. Determine the cost of homeownership

Ever home comes with additional expenses and you need to decide if you can handle it.

  1. Make sure you get an inspection

It is important to have the property inspected. This will help to determine any of the hidden issues.

  1. Get the contract in writing

The best way to protect yourself is getting the purchase of the property.

  1. Consider the taxes

This will only affect you if you choose to mortgage the house. If you purchase the house, you need to buy the homeowner insurance.

  1. Consider other options

You need to consider the other option of renting if it is possible.

6 things to look for in a real estate agent

Welcome to my new Real Estate Tips blog, I’m Brian Allen and I hope to teach you what I can about real estate. Century 21 is not directly affiliated with this blog but I wanted to blog on my friends site because he was the real estate agent who was the previous owner. That being said I hope you find this information to be helpful. So…Each and every real estate agent has a different form of experience. However, what sets them apart is the character and personality that they have. So, it is important for you to choose a real estate that possess more than professional experience.

Below is a list of things that you need to check when you are hiring a real estate agent;

Experience in your market

As mentioned above, the real estate agents have different experience. However, if the real estate agent has experience in your market it will be an added advantage. This is because they will be able to find the right buyer for your property.

The best way for you to determine the type of property that the real estate agent has is to check the listings. You may also need to ask the past clients that the agent has handled.

Another skill that you need to consider is the photography skills. They may not have the skills but they should at least hire a professional photographer. This is because if they take bad photos it may turn off potential buyers.

Negotiation skills

It is very important if your agent has superb negotiation skills. This is what will help you to get the best offer for you. Keep in mind that selling is one of the important aspect of the process and thus they need to be able to convince the buyers to buy the property.

You need to choose an agent who can represent your needs the best way possible. Here’s a very simple way you can negotiate with out it being awkward.

Patience

Patience they say is a virtue and your realtor need to possess it. You know, selling a property can be a challenge especially when it comes to finding the right buyer. The house may stay in the market for long and you need a real estate agent when can maintain calm despite the challenges.

Frankness

You need a realtor that can be frank with themselves and also the buyers. They need to be upfront with the clients on the offer that they have.

They need to tell the truth about the market and also the type of challenges that you expect to face.

Optimism

The real estate agent needs to have a positive attitude when they are handling the property. The market provides different challenges and you a person who will keep you motivated.

Creativity

Creativity is vital especially when it comes to drafting the final offer. If you’re not creative, you might sell for a price that is less than great. Again, even sane people make mistakes as that article points out. So They (the real estate agents) need to make sure that they present your offer in the best way possible.

That being said we are SUPER excited to starting this new blog up and have it going for as much information we can share, we feel very blessed!