Buying or selling a home is one of your biggest transactions you will ever make in your life time. There is need to be cautious on how you process the whole deal from mortgage financing to making the actual purchase or sale. Since you don’t specialize in real estate business, you need the help of an expert, in this case an experienced realtor. With hundreds of realtors in the market today, getting the ideal real estate firm New York can be quite daunting. A comprehensive research ought to be done to ensure you have value for money. To guide you in getting the best realtor in New York, we have highlighted some of the common mistakes both buyers and sellers make prior to the transaction.
Mistakes to avoid when buying/selling a home
• Use my friend, he sells real estate’
Referrals and recommendations are good in every business, but friendship does not establish the credentials of professionalism. Do further research and use tough standards just like you would when evaluating the best attorney or doctor. Never make a mistake of mixing friendship with business. A good friend will understand that you are in business and will offer you the required credentials for listing. If the deal goes sour, will you want to ruin your family relationship or friendship? Make that consideration before hiring.
• I will hire the realtor with the lowest commission’
Buyers will want to minimize the cost while sellers aim at maximizing the profit. In this regard, both parties will look for a realtor with fair commissions. Instead of selecting a real estate firm New York based on commission charged, consider other factors like experience and professionalism. Most realtors use their own funds to advertise your home or look for a new home for you. Low commissions means low effort and more time wasted in getting what you deserve and expect.
• I want a realtor in my neighborhood’
This is yet another mistake most home sellers and buyers make. The knowledge of local market in real estate is not only understood by the locals but good researchers as well. He/she might be in your neighborhood but lacks the right skills to make a good deal. Do not let convenience be your primary reason of choosing a real estate firm New York.
• Selecting a realtor who sold more homes in the last period
This may sound interesting and promising, but it might not guarantee you the best deal. An agent may have listed 40 homes and managed to sell only 20 which can be above another realtor who listed 18 homes and sold all of them. Between the two, the one who sold 18 may have better marketing skills than the one who made more sales. Base your research on other professionalism skills to get the best deal.
• Hiring a part time realtor
When intending to get the best deal for your house being a seller or a buyer, you need someone who is actively following the trend in the market. If you are selling your home, you need an agent who is always available to show your house to potential buyers. When buying, a good realtor should always be updated with the latest listings and show them to you immediately.