Emily Hu's Blog
If you intend to buy or sell a house, it frequently pays to hire a real estate agent, and for good reason.
A real estate agent can offer expert insights into the housing market. Plus, he or she can respond to any concerns or questions that you may have as you proceed along the homebuying or home selling journey.
When it comes to hiring a real estate agent, however, it is important to note that no two real estate agents are exactly alike. In fact, there are several factors that differentiate an ordinary real estate agent from an outstanding one, and these include:
1. Industry Experience
Regardless of whether you plan to buy or sell a house, you should definitely spend some time evaluating a real estate agent's industry experience. That way, you can find out how long a real estate agent has been working in the industry and choose one who knows how to overcome potential homebuying and home selling hurdles.
Ideally, you should employ a real estate agent who possesses many years of industry experience. This housing market professional likely understands the ins and outs of buying and selling houses and can help you get the best possible results.
2. Communication Skills
The right real estate agent will be a great communicator. As such, this housing market professional will be able to keep you informed at each stage of the homebuying or home selling process.
To learn about a real estate agent's communication skills, it often is a great idea to meet with a real estate agent and interview this individual. During a face-to-face interview, you can get a better idea about what a real estate agent is all about and ensure you feel comfortable working with him or her.
In addition, a real estate agent should have no trouble communicating with you in good times and bad. He or she will be prepared to provide honest, unbiased feedback, and by doing so, help you make your homebuying or home selling dreams come true.
3. Client Feedback
Reach out to a real estate agent's past clients before you hire this housing market professional. With client feedback at your disposal, you can learn what it's like to work with a real estate agent.
A real estate agent usually will be happy to provide you with client referrals. Then, you can contact an agent's past clients and learn about their homebuying or home selling experiences.
Lastly, if you're uncertain about whether a real estate agent is right for you, it sometimes is valuable to find out how this housing market professional will approach the homebuying or home selling process. Explaining your goals and learning how a real estate agent will help you accomplish these aspirations can make it easy for you to find the right agent, at the right time, every time.
Start your search for a real estate agent today, and you can move one step closer to buying or selling a home.
It can feel like real estate has its own language. After all, there is a reason agents take courses and need to become licensed!
And for a first-time buyer, I understand that it can be overwhelming and very confusing to keep track of all of this new information on top choosing the home of your dreams and planning a move.
Which is why I’ve created this quick and dirty list of real estate terms every first time home buyer needs to know.
Let’s get started:
A kick-out clause gives the seller the option to continue showing a house after a buyer has made their offer but is slowing down the process with the sale of their own home. The seller can then “kick out” that offer if someone else puts in a more desirable, and readily available, one.
A title-search is simply a search to pull up relevant information to the title of a house. It helps to determine the history of the home and if there are existing regulations in place that affect the property.
Escrow is a neutral third party used to handle transactions throughout the buying/selling process. They hold all related documents and funds until the day of the sale.
Earnest money is usually held in an escrow account and represents your commitment to the sale of a house you have made an offer on. Typically, the amount out down is between 1-3% of the asking price. It is also called “good faith money”.
An appraisal determines a property’s market value. Only a licensed appraiser can pull a report of this information for you. This is the report a lender will use to determine whether or not to lend money to a borrower.
Closing costs are paid at the actual sale of the house. The “closing” is when the title is transferred from the seller over to the buyer. The cost covers all of the fees that were incurred throughout the buying and selling process. A few examples of these fees are the home inspection, appraisal, and escrow.
A comparative market analysis or CMA is a report pulled from a database your real estate agent has access to. This is then used to determine the offering and asking price of homes.
A contingency is when in order to move forward with a sale there are specific requirements the buyer must complete first. Common contingencies are: waiting on an inspection, pre-approval or signing.
Disclosures are required by law. But what are they? A disclosure means a seller has to inform potential buyers of and problems that would affect the value of the property.
Due diligence is doing the work of fully understanding the property you are interested in before buying it. This includes obtaining insurance, reviewing all documents carefully and walking the property.
During a home inspection appliances, plumbing and electrical work are tested. The heating and cooling system are also inspected. This doesn’t affect the monetary value of your home. This is a way for you to determine what state a home is in and if it is worth the financial investment to you.