Does Your Real Estate Agent Understand The New Housing Market?
The housing market has been changing rapidly- especially in the past few years. With new regulations, interest rates and home prices constantly fluctuating, it's important to know how you're being represented by your real estate agent. This article will include a list of things that an agent should always do for their clients as well as some red flags when considering whether or not they are qualified to help you with the process of buying or selling a home.
These are the things that a real estate agent do for their clients:
- Study Local Pricing - As a first-time homebuyer, you most likely have no idea what the price of your new house should be. This is why it's important for an agent to know the market and do their research beforehand to ensure they're negotiating on behalf of their client in terms that are fair and reasonable.
- Know The Local Market - If you don't know anything about buying or selling homes then this can make things even more complicated than necessary. A real estate agent will always keep up with relevant information so they could best represent you during negotiations. Make sure your agent knows how much money houses typically sell for in the area where you want to buy; if not, find one who does!
- Analyze Home Rules & Regulations - Before you begin the process of buying or selling a home, it's important to fully understand what differences there may be between your current and potential homes. For example, if you're looking for a new place in another state then make sure that your agent is aware of any zoning regulations so they can help ensure everything goes as smoothly as possible.
- Help You Understand The Process - Buying or selling a house will typically require some paperwork- not just from the client but also from real estate agents who must submit paperwork on behalf of their clients before anything else happens. Make sure your agent is willing to help you with this process and don't be afraid to ask questions.
- Look for a Catalyst - It can be difficult to make a decision about whether or not you want to buy or sell your home. When faced with this dilemma, it's important for an agent to help their client find the catalyst that will push them one way or another and put in the work necessary for whichever outcome they will lead towards.
- Explore Low-Tax Alternatives - Depending on where you live, taxes can be a big deal. If the market in your area is low or if there are other factors that make it difficult to sell your home, then an agent might recommend looking at properties in another state with lower tax rates so they could help negotiate something more reasonable for both parties involved.
- Watch the Outskirts - Keep an eye out for any new developments that may be coming in the next few years. If there are plans to construct a building or expand public transportation, then it could have a drastic impact on property values so make sure your agent is aware of these possibilities before buying or selling your home!
- Buildings & Construction - Keeping up with housing trends and regulations can be difficult, but this shouldn't discourage you from finding an agent who knows what they're doing. You should always ask them about their qualifications when considering hiring one- just because someone has been around longer doesn't necessarily mean they know more than newer agents. It's also important to note if the person you're interviewing has experience working in another city; after all, not every location has the same zoning regulations or housing prices.
- Red Flags - If you're looking for a new agent, then there are some things that should be red flags to steer clear of when interviewing them: they don't know anything about buying and selling homes; they won't help with paperwork; they aren't willing to negotiate on your behalf- especially if it's in their best interest as well (e.g., an exclusive listing); and lastly, any mention of negative past experiences such as being sued by clients or constantly having issues with buyers/sellers just doesn't sound like someone who is trustworthy enough to represent you during negotiations!
The housing market has changed significantly in the last few years. If you’re looking for a new agent, it may be worth checking to see if they have experience with this new trend. Give us a call and we can show you how our agents are prepared to find your next home that best meets your needs.