Renowned for its luxurious homes, tight-knit community, and breathtaking landscapes, San Diego, particularly Rancho Santa Fe, is an excellent place to call home. Because of this, the current real estate market is booming, which means now is a great time to sell or buy a house in the area. Still, before diving into the market, it’s best to understand the available tools at your disposal, such as finding an effective real estate agent. If you’re ready to buy or sell a home in San Diego, you may want some tips on how to find a qualified realtor.
Here is how to find a real estate agent in San Diego, advised by Schoelen & Pierce.
The basics of real estate agents
Understanding the basics of the world of real estate, such as the type of realtor you need, can go a long way in helping you secure a great deal. In real estate, there are many types of professionals ready to help you buy or sell a home. Which type of realtor you hire largely depends on your end goals.
Real estate agent vs. broker
Simply put, a real estate agent is a licensed professional that can represent both buyers and sellers during a real estate transaction. Agents can analyze market data, negotiate real estate deals, and manage all types of legal documents. Typically, these agents receive a commission from the proceeds of a sale upon closing.
In comparison, a real estate broker can open their own brokerages and manage real estate agents. Essentially, brokers are agents that have taken the next step and applied for a broker’s license. In doing so, these brokers must take additional training and pass an examination. When a transaction is complete, brokers receive a percentage of their real estate agent’s commission.
Real estate agent vs. realtor
Although similar, realtors are slightly different than real estate agents. A realtor is basically a licensed real estate agent that is an official member of the National Association of Realtors (NAR). These real estate professionals must follow the Code of Ethics and Standards of Practice, ensuring that they always serve the best interests of their clients. According to the NAR, around 1.5 million real estate agents are registered realtors.
Listing agents vs. buyer’s agents
Real estate professionals can either be listing agents or buyer’s agents. A listing agent is a real estate professional that works on behalf of a seller, whereas a buyer’s agent is a real estate professional that works on behalf of a buyer. Therefore, if you’re selling a house, you’ll need a listing agent, and if you’re buying a house, you’ll need a buyer’s agent.
How to find a real estate agent
When you start your quest to find a qualified real estate agent, there are a few things you must do. First and foremost, you’ll want to interview multiple agents to find the right one for you. This will require asking questions, such as the following.
What is their level of experience?
The more experienced an agent is, the more likely they can help you secure a great deal. Because of this, it is important to determine the level of experience the agent you’re interviewing has. For instance, inquire about the number of homes they’ve helped buy or sell, as well as how many years they’ve been in the business. However, you should also keep in mind that the more experienced agents often impose a higher commission for their expertise.
Do they have great negotiating skills?
Negotiating in the world of real estate is everything. If your agent is a skilled negotiator, then they can likely secure better deals than other agents. Therefore, it is important to determine how well a particular agent can negotiate. There are a few ways to determine this; however, a skilled negotiator will often be easy to ascertain. How they interact with you, as well as their level of experience in the industry, can help you decide whether they are good at negotiating or not.
Do they have a vast network of professionals?
Networking is also an important part of real estate that should not be overlooked. The most skilled agents often have a vast network of professionals behind them. This network can include other real estate professionals, such as home inspectors, mortgage brokers, and staging teams. Because buying or selling a house requires multiple professionals, if your agent is deeply connected, they can offer qualified recommendations to help speed the process along.
How much commission do they require?
Instead of taking hourly or weekly fees, most real estate agents operate off of commission from a sale. How much commission an agent takes depends on a variety of factors. That said, most agents take anywhere from 5 to 6 percent of a home’s sale price. This means if the seller’s and buyer’s agents take a 6 percent commission on a home that sells for $200K, they must split around $12,000, giving them both $6,000 each.
What are their reviews from past clients?
Often, looking at past reviews from an agent’s clients can tell you a lot about the agent. If the majority of the reviews are positive, then the agent is likely worth your time. In contrast, if most reviews are negative, then you might want to pass on the agent.
Further tips on how to find a real estate agent
Given the current state of the San Diego real estate market, finding the right agent is more important than ever. From interviewing multiple agents to asking the right questions, the more due diligence you do during this phase, the more likely you’ll find the right agent for you. Still, if you’re trying to learn how to find a real estate agent, speaking to an actual agent isn’t a bad idea.
Schoelen & Pierce
is a team of San Diego real estate agents that have years of experience under their belts. Using their knowledge of the local market, the team knows what it takes to buy and sell houses in the area. Whether you need a listing or buyer’s agent, contact the Schoelen & Pierce real estate team today.