Working with a Real Estate Agent

As a potential buyer or seller, important questions to consider include who will represent your interests in the purchase or sale of your next property. Who is focusing attention on meeting your goals and watching out for your bottom line? Do you need a real estate agent? What do they do and how are they paid? Most important, how do you find an agent that you can trust?

How to pick a real estate agent

First, you need to know the difference in the terminology. The term “real estate agent” and “broker” are often interchanged and can mean the same thing depending on geography. A broker is a term in New Hampshire Realty that indicates more training, certifications and usually some managerial responsibility within a real estate company. An “agent” is licensed by the state real estate commission; having completed the prerequisite courses and passage of the board’s exam. A “Realtor” is an official member of the National Association of Realtors, a voluntary step that makes them a part of an organization of over 1.3 million realtors, brokers, appraisers involved in the business of residential and commercial real estate. They abide to a high standard ethics and have access to a wealth of training available to association members. The term “agent” however is often the blanket title used when referring to most real estate professionals though it may not reflect the highest level of training they have completed.

What does an agent do?

At Prudential Verani Realty, whether you are looking to buy property in New Hampshire or sell property in New Hampshire, our agents are an educated, well connected, experienced extension of you.

Shopping for your new home

• Your agent should work diligently on your behalf to find the right home, at the right price and do so in a reasonable timeframe. Verani agents are experienced not only in the process of negotiation, but have extensive knowledge about real estate values, new home construction, and finding property for sale that matches your checklist of wants and needs. For first time home buyers this knowledge can be invaluable during the sometimes confusing process of shopping for a home, negotiating offers and navigating through all the details of a sales contract.

Do you have to have an agent?

The answer is no, but it greatly simplifies a very confusing process filled with negotiation, regulations, laws and contracts that you may not have the time or knowledge to easily tackle in your own best interest. A good agent also has solid connections to lenders, inspectors, and other services buyers might need to close the deal. Without an agent, you may instead need to hire a good real estate attorney to help you deal with the contracts and legalities involved in the process.

So how do I choose an agent; one I can trust?

• First, look at several agents for their interests, career focus, training and certifications then narrow it down to a few that seem to best fit your requirements and needs. For example, if you are looking for new construction there are training designations that an agent can earn that provide extra knowledge in the details of working with a builder, contractors and specific bank financing. If you are looking for bank owned property there are agents that have specialized experience in REO property, or Real Estate Owned, which means the home is owned by the bank. Seek the knowledge and experience that best fits your needs and narrow down your list of possible agents.
• Finally, interview those agents that meet your needs on paper to see how their personality fits your own. Ask about their level of experience, their track record, referrals or reviews, what skills they have that will assist your individual concerns or needs and how easily they can be reached by you during the overall process.

So now that I have chosen, how does my agent get paid?

When a seller sells their home, a portion (percent) of that sale price is paid in commission to their listing agent as commission. That predetermined percentage of commission will be split with buyers’ agent, usually evenly. This means that your agent does not get paid until the closing on the sale has taken place and the home changes ownership.