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What You Should Know About Hiring a Realtor | BidMyListing

Feb 13, 2023 10:00:00 AM / by

How to Hire the Best Realtor

Finding the right realtor can be a daunting task with so many options available. The key to choosing the best realtor is researching and comparing a few options before deciding. Try to speak with at least three agents before signing a contract so you can get a good understanding of their skills and experience. Interviewing multiple agents will also allow you to ask important questions and determine if they fit your needs. A new way to start the process is by using BidMyListing. Our online platform connects home sellers with realtors in their area, allowing you to easily compare proposals and choose the best one for your needs. 

Difference Between a Real Estate Agent and a Realtor

  1. A real estate agent is licensed by the state and can conduct real estate transactions. Realtors have gone a step further and joined the National Association of REALTORS® (NAR), America's largest trade association.

  2. Real estate agents typically only represent the buyer or the seller in a transaction. NAR's code of ethics binds realtors to provide clients with fair and honest representation.

  3. Realtors can access the Multiple Listing Service (MLS), a property database that provides their clients with more wide information and options.

  4. Realtors must complete continuing education courses to stay up-to-date with industry trends and advancements. Real estate agents are not required to do so.

What to Do Before Hiring a Realtor

Some home sellers rush the process and decide irrationally, which leaves them with the wrong agent. To improve your chances of selecting the best real estate agent, follow these steps before hiring one.

1. Determine What You'll Need Help With

Before hiring a realtor, assess what you need help with. Do you need assistance finding a home, negotiating the price, or managing the closing process? Knowing your needs will help you find a realtor specializing in those areas. 

2. Reframe Your Mindset to View the Arrangement as a Business Decision

Hiring a realtor is not just a personal decision but a business decision. Reframe your mindset and approach the hiring process as a business transaction so that you can make the best choice for your needs.

3. Do Your Research

Do your research before hiring a realtor. You can start by asking for recommendations from friends and family, reading reviews online, and checking the realtor's credentials. You should confirm that your realtor is licensed and has a successful track record. Additionally, make sure to research the different types of services that realtors offer and what each one entails to choose the best option for your needs.

Home sellers, sign up here >

When Should I Contact a Realtor to Sell My Home?

It's generally recommended that you contact a realtor three months before selling your home. This allows you to start the preparation process early, such as making necessary repairs or upgradesdecluttering and staging your home, and preparing for open houses and showings. It also provides adequate time for the realtor to start marketing your home and attracting potential buyers.

Looking for a realtor? With BidMyListing, realtors come to you and compete for your business by submitting proposals that showcase their services and rates. Home sellers can conveniently compare realtor offers and choose the best one for their needs. BidMyListing speeds up the selling process by helping you find a top-of-the-line real estate agent invested in your home sale. 

Should I Interview Real Estate Agents?

Interviewing real estate agents is a crucial step. It lets you get to know the realtor, understand their approach, and assess their experience and qualifications. By asking questions, you can also determine if the realtor fits your needs and if they can provide the level of service you want. Some important questions to ask include:

  1. How long have you been a realtor?

  2. Do you specialize in this neighborhood?

  3. Whom will I be working with?

  4. How will we communicate?

  5. What is your success rate?

Services to Expect From Your Realtor

Determine what services you need when looking for a realtor. These will likely include:

  1. Providing Interior/Exterior Recommendations: You can expect your realtor to make interior and exterior recommendations. Your realtor can suggest improvements to your home's appearance and functionality, making it more appealing to potential buyers.

  2. Listing on the MLS: Your realtor can also list your home on the Multiple Listing Service (MLS). This database of properties for sale is accessible to real estate agents and brokers. Listing your home on the MLS can help you reach a large pool of potential buyers and increase your property's exposure. 

  3. Holding Open Houses: Your realtor may also hold open houses to showcase your home to potential buyers. During an open house, your realtor will answer any questions about the home and provide additional information to potential buyers. They will also gather feedback to help you adjust your selling strategy.

  4. Managing Paperwork: Your realtor can also handle the paperwork required to sell your home. They will manage the contract preparation, negotiations, and closing process, ensuring everything is completed accurately and efficiently.

  5. Coordinating Inspections: Your realtor can also assist with inspections and other pre-sale preparations. They will guide you on what to expect during the inspection process and assist you in resolving any issues. They can also coordinate with the inspectors, helping to complete the inspection process smoothly and without any delays.

Home sellers, sign up here >

How to Hire a Realtor

  1. Create a Free Account With BidMyListing: The first step in hiring a realtor is to sign up for BidMyListing. BidMyListing allows you to easily connect with motivated local realtors and choose the best fit for you.

  2. Earn Proposals from Realtors: Once you've created your BidMyListing property profile, realtors will submit proposals to win your business. Each proposal includes information about their qualifications and experience, fees, and services. You can then review and compare your proposals and select the best realtor for you.

  3. Choose a Realtor: Once you've selected a proposal, the winning realtor will schedule an in-person meeting to walk through your property. You'll get to know the realtor and interview them during this time. To learn more about what to ask a realtor, click here.

  4. Review the Realtor's Services: Review the realtor's services and fees again to ensure you fully understand them. Ask about the realtor's marketing plan, their approach to negotiating offers, commission rate, and any additional costs they may charge to gain clarity.

  5. Confirm Your Realtor Choice: After you've completed the walkthrough and interviewed your chosen agent, you can either confirm your choice or choose a different agent and repeat the interview process. 

  6. Agree to a Listing Price: Your realtor can analyze the housing market, assess your property, and suggest a price you should list it for. Work with your realtor to set a fair and realistic listing price to attract potential buyers.

  7. Sign the Listing Agreement: Once you've agreed on a listing price, you can sign the listing agreement. This legally binding contract outlines your realtor's services, their commission rate, and other terms and conditions. Read the agreement carefully and ask any questions you may have before you sign it. Create your free account today to start your journey with BidMyListing!

To learn more about selling your home, visit our Home Seller Resources >

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