Buying or selling a property is one of the most challenging decisions that you will ever make in your life. To make the process go smoothly without experiencing economic losses, you will need a professional real estate broker. According to experts at the highly reputable real estate brokerage firm, Shannon choosing the perfect agency is easy if you know the right questions to ask.
In the following section, we have discussed the questions you need to ask your service before signing on the dotted line.
Ask about the experience
Experience doesn’t mean how long the broker has been in operation, but rather about the firm’s knowledge in dealing with the local market, the properties, and the people. Always make sure to ask the property dealings of the firm for the last six months. Look for the business conducted with price-comparable properties to gauge the expertise of the agency. Additionally, keep in mind that brokers have all the information regarding the valuation and property price. Thus, it would be best if you asked your agency what they can do for you.
Look at the marketing plan for the business
If you are looking to sell your property, you need to look into the agency’s marketing plan for your property. If you are working with a professional broker, rest assured the agency will use many creative ideas, including social media, blog posts, and special events, to market the property. Keep in mind that digital marketing is the key when you are looking to provide the necessary details with breath-taking images on social media handles in this day and age of internet connectivity.
Ask about information sharing
Make your inquiries to the broker about communication lines, including text, phone, or email, for sharing information. Keep in mind that texts aren’t appropriate for legal communication. Make sure that you get all the marketing and activity reports in writing and in detail. Additionally, ensure that the broker provides complete property protection and not let anyone view the property until a representative is present.
Enquire about the commission
The standard commission rate of a real estate broker is around 6%, split between the sales agent and the buyer’s agent. An agent can receive about 60 to 90% of the entire commission. But it is vital to understand the commission percentage is not set-in-stone. So, there is room for negotiation. Make sure to ask the budget and the itemized expenditure list to know what you have to pay for yourself.
Ensure that the broker is connected
A broker or agent needs to have good connections within their field and with other estate agents. Any seasoned broker will maintain reliable connections with staging companies, estate lawyers, and even movers-packers. Additionally, ask for references and recommendations to ensure the best deal is offered if you are looking for business brokers.
Choosing the right broker is the first step before investing in real estate, and it will go a long way into securing your dream sale or a big purchase. All the best!