Real Estate 101 - What Your Real Estate Agent Should Know

Regardless of how many times you’ve gone through the process of purchasing a home with a real estate agent, there’s no denying the fact that working with an inexperienced or unknowledgeable agent can be frustrating. Not only will you end up wasting time and energy doing your own research, but if you don’t recognize their inadequacy, you may end up getting half-baked recommendations or suggestions based on nothing but opinion. Consider yourself lucky if you realize that they’re not worth your money and choose to work with someone else.

Whether or not you’ve worked with a subpar agent in the past, you need to know how to recognize great ones so that you work with qualified people in the future.

When searching for exemplary real estate agents, lookout for someone who does the following things:

1. Someone who understands the local prices

Smart real estate agents study the current price trends in the area of their specialty. This can be extremely helpful when working with clients with a variety of budgets. Knowing about the pricing acceleration and tendencies of different homes in the area, as well as the average price of a home there compared to those in other towns will make it easier to pinpoint customer demand.

A strong understanding of local prices does not only suggest that the agent stays in the loop, but is helpful to you as a buyer because they will be able to gauge whether or not a listing is overpriced or a bargain.

2. Someone who gives suggestions you may not have thought of

Good real estate agents listen to what you’re looking for, but great real estate agents give you suggestions that you may not have thought of. For example, let’s say that you’ve got your eye on one particular neighbourhood, but your dream house is way out of your budget. After a few offers are turned down, an exemplary real estate agent will help you look for alternative solutions, such as a more affordable home that still ticks all the boxes in the adjoining neighbourhood or a fixer-upper that will need a bit of TLC but has lots of potential.

The type of real estate agent that you should work with will help you look for the perfect property, even if it isn’t in their best interest. They may suggest a more budget-friendly home that meets all your needs, also if they won’t get as big of a commission. This is because great real estate agents value their reputation and your future business, rather than just the profit they will immediately gain.

3. Someone who knows how to recognize up-and-coming areas

Anyone looking to purchase property has to be concerned about future value. Of course, everyone wants their home to appreciate just in case they plan to sell it and make a profit in the future.

Great real estate agents know this and learn how to forecast property value and identify up-and-coming areas. After all, this can mean the difference between someone choosing to buy an investment property and someone opting out. One of the signs that smart real estate agents watch out for when looking for up-and-coming areas is new infrastructure. More schools, roads, and shopping centres typically indicate an increase in future value!

4. Someone who considers your needs

Every buyer has certain needs that are non-negotiable. Financially-able parents, for one, often choose neighbourhoods with good schools because they want their kids to get a quality education. Great real estate agents really listen to the things that a buyer considers non-negotiable. This means that they won’t recommend houses in the nearby district that has a school known for student violence, even if they’re more budget-friendly.

// Conclusion

Great real estate agents are hard to come by. This is why it’s important to hold on to them once you find them. Fortunately, we’re here to help. If you’re looking for a great real estate agent in Windsor, get in touch today!