Property transactions can be challenging when you don’t partner with an experienced agent to navigate the real estate market of Northeast Ohio, whether you’re buying or selling a home, choosing the right professional is crucial for a smooth and successful experience. This article explores key factors to consider when selecting a realtor, the invaluable expertise they provide, and common questions that may arise during the process.
1. Why Homeowners are Hiring a Real Estate Agent:
According to the Zillow Consumer Housing Trends Report 2023, nearly 90% of homebuyers rely on an agent. The majority of buyers (88%) use an agent as a valuable resource for shopping, searching, or buying a home. Among those who work with an agent, 74% hire them to assist in the home shopping and purchasing process. About 26% hire an agent specifically to finalize their home purchase while conducting their search.
The results also show that approximately half (49%) of buyers in 2023 found their agent during the home purchase. In contrast, around 35% relied on real estate apps or websites (21% on mobile apps, 15% on websites). Roughly 16% of all buyers in 2023 found advice from family or friends most helpful in choosing their realtor. The report concludes that in 2023, 50% of homeowners chose agents to list their properties due to their expertise, market knowledge, and network of resources that enhance real estate transactions.
2. How to Evaluate an Agent:
When selecting a real estate agent, it is essential to be sure to partner with someone you trust to guide you through the process. Consider factors such as their experience in the area you are searching in, how many families they’ve helped previously, and what their knowledge is of the entire transaction process. These aspects ensure that you are working with a qualified and dedicated professional.
3. Choosing the Right Realtor:
Selecting a trustworthy and compatible realtor is paramount. Recommendations from family and friends are valuable in this process. Conduct interviews with multiple realtors, inquire about their marketing strategies for selling your home, and assess their knowledge of the local market. Additionally, seek references and evaluate whether you feel comfortable working closely with the chosen professional.
Pro Tip:
During the interview, inquire about the agent’s approach to the closing process. Do they handle it themselves or have a specialized assistant? This will give you insight into the communication flow after an offer, whether you’re a seller or buyer.
4. Additional Reasons to Partner with a Realtor:
Beyond the initial selection process, there are numerous reasons to utilize the services of a realtor, including assistance in determining buying power, access to resources for home searches, objective property information, negotiation skills, due diligence during property evaluations, guidance through the closing process, effective property marketing, and the ability to objectively evaluate buyer proposals.
5. Review the Contract:
Before finalizing your collaboration with a real estate agent, carefully review the contract. Understand the commission structure, contract length, and other terms. For sellers, knowing the commission percentage is crucial, as it’s typically paid by the seller. Contracts longer than six months may require further consideration, ensure alignment with your goals and timeframe.
A residential real estate contract review helps ensure the best deal and fair price without hidden risks. Financing terms and home inspection are vital when buying a residential property.
At The Young Team, we offer both our buyers and sellers a worry-free contract. This means that at any point in the buying or selling process, you have the right to void, or cancel, the contract with a 48-hour notice.
Final Thought:
In Northeast Ohio, the journey of buying or selling a home is significantly enhanced with the support of a qualified and dedicated real estate agent. By understanding the steps to select the right professional and addressing common concerns through thoughtful FAQs, buyers, and sellers can embark on their real estate endeavors with confidence and succeed!
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