Choose a real estate company
Buying and selling a home is a major decision, so be sure to choose a real estate agent or broker who will guide you through the process. Look for an agent or broker who is experienced, knowledgeable about your housing market, and always acts in your best interest. Discounted brokerages may be an option.
The Better Business Bureau of Greater Houston and South Texas offers the following tips for choosing a real estate agent or real estate broker:
Research thoroughly. Check out any company first with the Better Business Bureau by visiting BBBHouston.org. Ask friends and family members who have recently bought or sold their home for recommendations and check if they were satisfied with their experience and if they would use the agent or company in the future. Be sure to also look for negative feedback and ask if there are agents or companies to avoid. Meet with candidates. Once you have identified at least four possible agents, schedule a time to meet with them in person. If you are selling your home, each agent should make a listing presentation. This presentation lets you become familiar with their background, marketing plan, and market analysis, which includes information about similar houses in your area that have recently sold. Think about whether you would prefer working with a solo agent or a team, as they have different strengths. Ask the agent to provide a list of references who have previously used their services to buy or sell similar types of properties.
Discuss compensation. Agents are generally compensated through commission. The commission fee is usually around 5 to 6% of the selling price, but it can vary from area to area. For discount real estate brokers, the commission will generally be less as the agents agree to a lower rate in exchange for the opportunity of a larger client pool, via internet sites, for instance; however, depending on the discount brokerage, additional fees may apply. The percentage of the commission fee can sometimes be negotiated depending on the housing market.
Ask the right questions. Make sure to find out how long the agent has been practicing, how many transactions they’ve done in the past year, and when they are available. Agents who have more transactions and years of experience will be familiar with guiding you through the buying or selling process and handling any problems that may crop up. Be sure your agent is familiar with your area.
For discount agents, they may not provide additional services such as home staging, marketing, or other extras. If that extra level of personal attention and guidance is not a priority for you, then a discount brokerage may work instead.
Choose a real estate agent who acts in your best interest. Whether you are buying or selling a home, be sure to choose an exclusive agent based on your role. This way the agent will act in your best interest for the sale. Also, verify the realtor or broker is licensed with the Texas Real Estate Commission, by visiting www.trec.texas.gov.
Carefully read the contract. Carefully and completely read the documents and make sure the agent clearly answers any of your questions. If you are selling your home, usually you sign a contract granting the agent exclusive rights to sell your property within a certain period. Make sure to ask about the length of that period.
Visit www.bbbhouston.org or call 713-8689500. Leah Napoliello is BBB vice president of operations. Send questions to Leah Napoliello, Better Business Bureau, 1333 West Loop South, Suite 1200, Houston, TX 77027, or e-mail lnapoliello@bbbhou.org with address and phone number.