We all want to keep the hassle to a minimum when buying or renting real estate. This becomes possible if you can find a real estate agent who will give you a good deal, take care of the paperwork and help you find the right property. But how do you make sure you’ve hired the right agent?
There are 5 key criteria that can help you find a great real estate agent. To help us select these criteria, we turned to Ivan, a representative of the GUGA USA LLC group which offers an end-to-end real estate service package in Florida including the rental, purchase and sale of real estate at the both upstairs and in emerging and established neighborhoods, mortgages for foreign citizens, commercial leases and concierge services.
In addition to this, GUGA USA LLC provides service and support to new owners. “It doesn’t matter whether you bought the property with our help or not. If you have real estate that you would like to rent out, we will take full responsibility for finding tenants, managing the property and getting your documents approved by the association. All you have to do is sign some papers and open a bank account to collect the rents,” says Ivan.
But back to the main topic. How do you find a professional real estate agent? Here’s how!
Having an agreement – it is very important!
The first telltale sign of a professional real estate agent is that they will insist on having a written agreement with you.
“An agreement is a crucial document that guarantees the transparency and fairness of the services rendered. It must specify the main rights and obligations of all parties – the seller and the buyer or the owner and the tenant as well as the real estate agent himself. This agreement also serves as a proof of work document for the real estate agent to ensure that they are paid for their work”
It raises a big red flag if your realtor agrees to work with you without a written agreement. It could mean that they are not interested in providing quality service or that they are simply planning to scam you.
“At @guga_usa, we strictly adhere to industry standards and offer the client to sign an agreement only after viewing the property, not before,” Ivan points out.
Services at fair prices
According to popular insagram blogger Иван @guga_usa, the real estate market, like any other market, has an average market rate for realtor services. If the agent agrees to work with you for a price that seems too good to be true, that’s because it is. You better steer clear of agents who charge too low for their services to save time and even money in the long run.
“Realtors charge below market rate for two reasons: either they’re just not good at their job, or they’re not doing business legally. Additionally, charging low could be a way for the real estate agent to avoid providing certain key services. For you as a client, this means potentially losing money on a bad deal or wasting your time looking for a more qualified professional to do the job that should have been done by the first agent,” says Ivan.
The agreement should specify all additional expenses, including unforeseen expenses.
An unethical or irresponsible real estate agent will often use the client’s lack of knowledge of the laws of buying and renting real estate and offer a “fast track” way to close the deal for an additional fee.
“In that case, just say no to a company immediately or better yet, get another agent,” the experts at @guga_usa say.
The customer is always right
A good real estate agent never conducts business negotiations without the client’s knowledge and should never make independent financial decisions with the client’s money.
A professional agent will always show the full range of property options and encourage the client to view any property at a time that is convenient for them (and not the agent).
An ethical real estate agent will not insist on going with the cheapest option and will incentivize the client to do the real estate agent’s job. This means that putting all documents, agreements and letters in order is the sole responsibility of the agent and not the client.
Legal due diligence
Since most real estate agents have no legal training, they often have to work with an attorney who will review the documents relating to the transaction.
“If your estate agent doesn’t have a lawyer, that’s another red flag that could lead to unpleasant consequences,” warns Ivan and adds, “When you know you’re working with real professionals, you can save your sanity, time and money and expedite the process of moving into your new home”.
Editor’s note: If you’re looking to buy real estate in Florida, direct message @guga_usa on Instagram and rest assured that you’ll get a full range of quality real estate services there with maximum transparency. Legal due diligence guaranteed!