We want to start out by saying that a REALTOR® who has less experience than others may not always be a poor choice. For example some agents may only have a few years of experience working as a salesperson, but wouldn’t you regret not using him if you found out that he/she had years of sales experience, worked as a home builder and also knew the State/Provincial tax system inside and out?
Sometimes what you see on the outside does not always match what is on this inside. So when we talk below about hiring ‘experience’ we do not always mean that they have years and year of selling real estate in particular. The best referral agencies will dig deeper than years of REALTOR® experience and not neglect the bigger picture.
A skilled REALTOR® with the required experience is basically the best thing that could happen to you whilst you put your house on the market or look to buy your dream home. There are so many reasons why. Here are a few:
- It is understood that a REALTOR® with the best experience brings you greater exposure/opportunity. For sellers, this may mean having access to buyers looking for your type of homes and are relying on this agent to find one. For buyers, this may mean knowing about homes people are willing to sell, but are not listed on MLS®. If your REALTOR® is well connected, they may know of some hidden gems.
- An experienced REALTOR® can also save your time via preparing and dealing with documents. There are many involved in both buying and selling a home. Ask questions, your REALTOR® should know the answer!
- When you are preparing to sell your home, especially if it is sentimental, there is a chance of you getting biased and emotional – commonly assuming your home is worth more than it is. Leave this task of home valuation up to your REALTOR®. They will insure that the requirements and description of your home are logical and understandable.
- REALTORS® should know the local neighborhoods well. They will help you pick a home that not only suits your current lifestyle, but consider your future lifestyle as well.
- Lastly, they are masters at avoiding closing problems. Closing problems can include any number of things such as surprise floods, moving problems or the lawyer not receiving all of the paperwork that they require. Your REALTORS® won’t be paid unless the deal closes, so there is motivation there for them.
The relationship between a REALTOR® and their client is better known as an ‘agency relationship’. An agency relationship is where one person is acting for or on behalf of another person, of course with your authorization. It is better to craft a good and healthy agency relationship with a REALTOR® you trust. However, it is also important to remember that they are not just your friend, and it is okay to ask questions and use your agent for what their job actually is. The commission they receive should be well earned, and you’ll feel it was, if you hire the right REALTOR®.
It is important that you leave no stone unturned when choosing a REALTOR®. Buying and selling your home is the biggest transaction you will likely ever make. It is important that you make sure you have set yourself up for success.