Five Tips on How To Choose A Realtor or Real Estate Agent

It is amazing how many aspiring property owners do not take the time to research a real estate agent. Whether you are buying or selling, your realtor’s reputation and background is crucial to your choices. You should not trust just anyone with what could be your largest transaction. The best thing you can do for yourself is taking the time to do some thorough research into your choice of realtors.

Five Considerations for Choosing A Real Estate Agent

If you are buying real estate or investing in property, you will need a realtor to make the process as smooth as possible. Here are a few guidelines to assist you in making your choice.

1. Research realtors online.

The worldwide web puts so much information at your fingertips that it would be a waste not to take advantage of this resource. You can learn a lot about people with a few quick searches. Consider these questions when you do your searches: Does the realtor have a website that is up to date? Do they utilize space on social media? Are they reviewed on Yelp, Facebook, or Google, and are those reviews good ones? The best real estate agent will have good reviews, current online content, and information on what they have to offer their clients available online.

2. Interview more than one realtor.

Rather than a short conversation on the phone, opt for a person-to-person interview. Whether you meet at a cafe for coffee or have cocktails at your home, you will learn more about the realtor than you might in an office, on the phone, or through email. This is the best way to get to know potential real estate agents. It is also the best way for them to learn about you and your needs.

An experienced realtor should come prepared with materials and a work portfolio. They should be armed with informational data and statistics to assist you in your sale or purchase. He or she should ask you what you want most out of the process in order to advise you from beginning to end. Have a list of questions ready. When it comes to your relationship with your realtor, there is nothing more important than communication and trust. Your realtor will be an advocate, a coach, your driver, and a listening ear. That is how Fox Marin approaches client relationships. We do not expect our clients to be in top form at all times. After all, the process of buying and selling is not always an easy one. You should feel confident that your real estate agent has your best interests in mind. After you have met with a few different realtors, you will have a sense of who fits your needs and comfort levels.

3. Experience is key!

Your chosen real estate agent should have a solid background of work experience prior to their entrance into the field of real estate. A good business background is important because transactions, analysis, marketing, negotiation, and communication are essential. Ask if they have ever experienced buying or selling personal property. A person who has gone through the experience will be much more understanding of your concerns.

Does your prospective realtor specialize in areas in which they are personally involved? We understand the best and the worst. We know the neighborhoods. We know schools. We know about transit, development, local businesses, and more. These issues are an important part of real estate transactions.

4. Does the real estate agent work alone, or do they have a team?

The real estate market has seen a lot of changes in the last few years. Real estate teams are following trends in service and areas of expertise. An independent agent may not be able to provide the same quality of service as a team. Teams make it easier to stay focused on the client’s needs. Ask realtors about the support they have behind them. After all, wouldn’t it be comforting to know there is a team behind you? Someone should be available to answer every question you might have. The real estate market is fast-paced, and your agent should be able to keep up with it.

5. What about their personality?

Is the prospective realtor likable? What do you look for in other working relationships? Of course, you prefer someone with a great sense of humor, someone who is energetic, and someone with a charming personality. The ability to laugh and engage in conversation cannot be overstated. You will be spending a great deal of time with your realtor. You should feel that you can be open and honest with them. You should be able to tell them if something is bothering you or if you feel that something isn’t right about the process. The best realtors are great listeners. Your real estate agent is your partner and guide. You should be able to connect with your realtor. A good working bond cannot be overemphasized when it comes to buying or selling your home or property. If their personality and character do not vibe with your own, the process may be rough and less likely to end in the way you expect. Keep personality in mind when you make your choice in realtors.

How To Get The Best Mortgage Rate For A House

They Advise Clients to Choose 5-Year Fixed Rate

Most mortgage experts usually advise clients to choose a mortgage with an initial 5-year fixed rate. They claim that they can find the cheapest 5-year fixed-rate mortgage in the market. The hard truth is that consumers are better off with an adjustable-rate mortgage in around 90% of the cases.

Using a broker to get the lowest 5-year fixed-rate mortgage will only ensure the client is worse-off financially while the mortgage brokerage firm and lender make money.

I Had a Great Relationship With My Bank

I recently got fed up with my full-service bank and opted for no-fee banking services even though I had a great relationship with them. That is why, as a first-time homebuyer, it was not intimidating for me to walk into my branch and ask about mortgage rates.

Today, however, I am into my 3rd home and have had mortgage renewals several times and did mortgage refinancing once, so I’m enjoying the perks of sticking with one lender. This includes; waived home appraisal fees and waived interest penalties. In addition to that, my mortgage rates have always been within 0.01% of the prevailing market rates.

Bad Reputation

The first impression I had of a mortgage broker was not impressive at all. They usually send flyers in the mail, encouraging people to remortgage their home and use the money to go on vacation, get a new car, consolidate debt, or increase their amortization. They also post misleading rates on their websites claiming that their mortgage rates are 2% or lower than the rates charged by the top 5 banks, even though they are posting rates charged by their banks, and not the best rates on the market.

Mortgage firms are also quick to encourage homeowners to “lock-in” now as they spread fear over expected interest rate hikes. It is important to note that mortgage brokers get paid a commission, just like mutual fund salespeople. While they may offer free services, they get compensated for every business they bring in.

Consider Doing it Yourself

Mortgage brokers usually claim that they are a one-stop-shop for mortgage products and services, and work with many lenders to save you time and money. The truth, however, is that information about mortgage rates is freely available online, so anyone can compare mortgage rates before picking a mortgage lender. Tools like Rate Supermarket can make life much easier for you.

After narrowing down your search for potential lenders, you can ask for a callback. This does not sound like a big hassle to me.

Don’t get me wrong; there is nothing wrong with working with a reputable and trusted independent mortgage. Just remember that most brokers do not have your interest at heart, especially when there are incentives for both the lender and broker to get your business.

Consider doing your own research to ensure you understand the mortgage rates, terms, and conditions that come with a mortgage, or that are being quoted by a mortgage broker, before making your final decision.