Nigeria Business & Finance Updates

What to consider before choosing estate agent

Whether you are about to seal your first real estate deal or you are a veteran, having the right real estate agent is crucial to a smooth process. But with over 500,000 agents in Nigeria alone, the way you will find the right estate agent is always cumbersome.

But for a start, you will need to start by asking friends and family for referrals in your target area. Find out about their experiences and, hopefully, you will find a name that keeps coming up. Once you have a couple names, call the agents and set up a time to go over some basic, but absolutely essential questions. Either way, it can be a costly affair. With real estate agents in Nigeria making up to 60 billion in commission every year, it’s important to get an agent you can trust. Since, for most people, the value of their house, represents, their single – biggest, financial asset. So for this singular reason, it would make sense, to carefully consider, who to hire, to serve and represent their best interests, when buying and/ or, selling a home?

This question is key because it can lead to so much more than simply a number of years. While it is true that experience doesn’t necessarily equal success, real estate is a commission-based business and it would be very difficult for an agent to survive for a long time providing awful service. An agent who has seen many different situations is less likely to be rattled should any bumps be encountered down the road. So, the agent will be readily on ground to fix the problem without thinking twice. This is the reason you call him professional because he is on top of his game.

On the other side, if you really want to be blunt, the question could be asked differently thus. Do you, and will you, have enough time for me? No one wants to feel as if they are thrown to the wayside while their agent is working with dozens of other clients. If your agent is working with a high volume of clients, find out how he or she plans to remedy the situation should you need additional support. Does he/she have other team members who can help? Does he/she have a licensed assistant who can offer advice?

A major component of the so – called, American Dream is often, owning a home, of one’s own, and, often is, when done, in an effective, well – considered manner. However, several people, have had nightmare experiences, instead, because of making the wrong choices, decisions, or not being informed, well enough. This is an important reason, it’s significant, to hire the right, real estate agent, for your needs, goals, and priorities, and take the time, and make the effort, to carefully, thoroughly, interview several people, in order to make the finest, possible decision.

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As you talk with agents, you will find many work with primarily buyers or sellers. On many teams, there are designated buyer agents and listing agents. While it’s good to know one thing very well, this can also lead to a limited perspective.

How well can your agent be expected to know what a seller may be thinking if he’s only worked with buyers, or vice versa? Not only that, but should you be looking to sell your current house and buy another, the transactions will be much more seamless should one agent be able to oversee the entire process.

In all intents and purposes you should fully examine, and consider, the true level of an agent’s character, including integrity, focus, emphasis, and dedication to meaningful service and representation. Listen carefully to the suggested marketing plan, and, the rationale behind it. How would he/she transform this to selling, and/ or buying, the right place? How comprehensive, are the plans, and, is the level of his/her planning, focused on achieving quality results? How well – considered, is the reasoning, and do the plans, include several well – considered, contingency concepts, and approaches?

During the real estate transaction period, you will need to work closely, with your agent! During the interview, think, whether, the individual, you feel, you’ll be comfortable with, communicating, and using meaningful teamwork! Carefully choose the best real estate agent, to meet, and, hopefully, exceed, your needs! Are you ready, to protect your largest, single, financial asset?

Don’t pick real estate agent that lack a proven rate of success. If you’re selling, why commit to 10% if they can’t sell it? Be sure to get good, strong references from previous clients and check their previous sales. And if you’re a buyer, do the same thing. If an agent isn’t making headway with existing clients, and they’ve not sold for a while, you don’t want to be their last resort.

While it is true, the sound of one’s own voice, to most, is their favorite sound, this is not a quality, to seek, in your agent! When you are interviewing, seek someone, who effectively listens, thoroughly, rather than dominating the conversation and speaking/ talking about himself (how great he is!), etc. Agents and their clients must proceed, on the same – page, and exhibit the finest, possible level of teamwork.

You need to consider real estate Agent who understand the community you’re living in and can sell it to potential buyers or vice versa. Great schools, good transport links, low crime? A real estate agent with good local knowledge will know these and be able to sell them. They’ll also be able to tell you if it really is a good area to live in if you’re the buyer. If you’re a seller, you’re also likely to see more enthusiasm from a cash buyer, who can complete a sale more quickly than those looking to obtain a mortgage. A well connected real estate agent will know where to find buyers to get a quick sale.

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The agent, you select, must possess, well – considered, real self – confidence, without letting his ego, interfere, with his behaviors and actions! Beware, because, while one needs a self – confident agent, in order to exhibit quality judgment, and take the finest actions, in a timely manner, there is a big difference between this, and, false bravado.

Research shows that 90% of property buyers start their search online. Therefore, your real estate agent should be online as well. A real estate agent that is interested in being found will be on multiple social media sites like LinkedIn, Pinterest, Instagram, Twitter, and Facebook. They must have a website, & also on several property listing sites/directory.

In today’s world life is super busy, and it’s hard to coordinate times with a crazy schedule. Be sure to find an agent that is flexible and willing to meet with you day, night, or weekends depending on your schedule. Real estate agents don’t work a 9-5 schedule. One of the reasons most real estate agents got into the business is for the flexibility. The phone rings (or dings with text messaging) day and night and even weekends. Your real estate agent should be flexible; however, you should still be considerate to their time as well. They still have a life.

Whether you’re buying or selling, you need an agent who can negotiate a good deal. Sellers need someone who can negotiate the right price with a potential buyer. Low ballers are likely, but real estate agents know the true value of properties and won’t be prepared to risk their commission percentage. For buyers, you need someone who can get a good deal and is prepared to negotiate with the other side to get it.

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