6 Tips for Vetting a Real Estate Agent
You might need to buy or rent a home at some stage in your life. It’s always better to hire the services of a real estate agent. The professional estate agents are expert in their field and can help you in finding the right home. But before hiring, you should ask the few questions to the real estate agents. This will help you in selecting the best estate agent. Here are the top 6 tips for vetting a real estate agent.
Education & Experience
The first thing to ask an estate agent is the education and relevant filed experience. Most estate agents have no formal education but top ones have got the Master’s Degrees in Real Estate. Secondly you need to know the experience of the estate agent. Thirdly ask about the license of the estate agent. These questions are important to select the top estate agent.
Office and website
Real estate frauds and scams are the talk of every town. This is because many agents have no permanent business addresses. You should personally visit the offices of the estate agents. Another thing is to know the online presence of the estate agents or their firms. Top estate agents have websites and social media pages for their businesses. Office and online website show the seriousness of an estate agent.
Local area information
For buying or renting a home you need to hire the services of the local estate agents. You should ask the estate agents about their local area knowledge and experience. This is important as different areas have different price trends and regulations. An estate agent who deals in the local area is the one who can help you in buying the right home at a good price.
Acquire about expertise
You will find many estate agents who are dealing the residential and commercial properties. At the same time some estate agents are expert in buying or selling whereas others only deal the rent queries. If you are looking for a home to buy or rent then you need to hire an agent who is expert in residential properties. But if you are interested to buy or rent a commercial property then hire an agent who has experience of commercial real estate.
Past work record
The next question for vetting a real estate agent is to ask about the past property transactions. Most estate agents keep the records of successful property deals. You should check the past property transactions and also note the time to complete each transaction. This will show the experience of the estate agent in handling the real estate transactions in short time period.
Past clients references
Good estate agents keep the details of the clients they have worked with. You should ask the estate agent about the contact details of the past clients. Call the clients and ask about the reputation of the estate agent. Also acquire about the commissions they have paid to the estate agent. This information is important to know the behavior of the estate agent. Only hire that estate agent who is recommended by the past clients.