Page 156 - South Mississippi Living - May, 2016

TOP PRODUCER home sweet home BUYING OR
SELLING?
How do you choose a real estate professional? story by Lynn Lofton
Buying or selling a home is a major business transaction. Most buyers and sellers turn to real estate professionals to guide them through
this process. But how should this professional be chosen? In a piece written for U.S. News & World Report, Susan Johnston Taylor offers five important questions to ask before choosing a realtor.
How long have you been in the business? “For me, the first thing I want to know is how long have they been in the marketplace,” says Rick Harris, a regional vice president for the National Association of Realtors. Also consider the difference between a part-time real estate agent who sells a few properties for friends and relatives and someone who treats it as a full-time business venture.
What geographic areas and types of properties do you handle?
For buyers’ and sellers’ agents, neighborhood expertise is key because neighborhood markets
can have different quirks. Historic homes may require special expertise because of the additional challenges and potential restrictions involved. Consider not only what agents tell
you but also the way they brand themselves online. An agent who focuses on condominiums may
have more familiarity with specific condo buildings than someone who mainly handles single-family homes. If you’re a veteran or active duty military member, you may want to work with someone who has special training to understand how Veterans Affairs financing works and the challenges of frequently relocating. If you’re a first-time buyer, you may want to find someone who works with lots of first-time buyers and has the patience to do some hand- holding.
How will you communicate with me? A communication lapse of a few hours can mean the difference between an accepted offer and a missed opportunity. With that in mind, choose an agent who responds quickly in the
mode of communication that works for you, whether it’s email, text, phone or fax. Also ask who will be your main point of contact.
Can you share references?
In addition to interviewing potential agents, talk to their buyers or sellers. Also ask
what portion of business comes from referrals or repeat business. If an agent mainly works on referrals or repeat business, that can be a positive indicator that prior clients were satisfied.
What will it cost me to sell this property? Buyers often don’t pay commission directly, but sellers often do and the costs can vary from agent to agent. Also ask for a breakdown of estimated closing costs.
156 SOUTH MISSISSIPPI Living • May 2016
FOR MORE REFLECTIONS OF THE GULF COAST >> www.smliving.net