If you are seeking out professional help to navigate your way through the maze of formalities when buying a home, you should interview several realtors in Fargo ND before hiring one. An experienced and skilled real estate agent can make the otherwise complex home buying process hassle-free to some extent. He or she will educate you about your legal and financial obligations and help you avoid common mistakes.
Here are five questions that you should ask when interviewing realtors in Fargo ND:
Experience and expertize
Anybody can get a license to be a real estate agent, but you will be surprised to know that representing buyers and sellers is a side job for most realtors. A license can authorize you to supervise real estate transactions, but it won’t teach you what happens in the real world and how to handle the last-minute surprises that could cause home deals to fall apart.
You should hire an agent who has helped people buy and sell real estate in your target neighborhoods. It is very important because an experienced real estate agent will be able to conduct a thorough comparative market analysis (CMA) – which is a study of homes of similar size, location and condition – to help you determine your office price.
The National Association of Realtors (NAR) is the national body of real estate agents in America with state-specific branches in almost all U.S. states. Check whether the agent you are hiring is a member of the North Dakota Association of REALTORS. The affiliation will ensure that the realtor abides by the code of ethics specified by the NAR.
Strategies to help you find your dream home
Explain your budget, needs and other details to the realtor and ask how he or she will help you find the home of your dreams. Once you zero in on a property, how will the agent come up with the offer price and negotiate in case there is a counter-offer? What will be his or her negotiation strategy if there is a bidding war? How will he or she determine competition in the housing market in your target neighborhoods? The answers to these questions will give you an idea about the agent’s experience and knowledge.
Ask if the agent can provide references from former clients. You can even approach these clients and ask them their experience about working with the agent in question. Go through the testimonials on the realtors’ website. Find out if the agent has a profile on Zillow and Trulia. Go through the reviews that the former clients have left on the agent’s profile. If there is any red-flag, be upfront with the agent and have him or her explain the reason for bad reviews.
A real estate agent can recommend other professionals in his or her sphere of influence to help you follow your various financial and legal obligations. They include home inspectors, mortgage brokers, real estate attorneys, and escrow and title agencies. However, be cautious and shop around before acting on your agent’s recommendations.