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What to expect from your real estate agent

how much do real estate agentsmake

When it comes to buying or selling a property, having a reliable and knowledgeable real estate agent by your side is crucial. But what exactly should you expect from your real estate agent? This guide will provide a detailed overview of the various aspects you should anticipate when working with a real estate agent. From the initial consultation to closing the deal, here's what you can expect:

  1. Professional Expertise:
  • Extensive knowledge of the local real estate market.
  • Ability to analyze market trends and provide accurate property valuations.
  • Familiarity with relevant laws, regulations, and contracts.
  1. Effective Communication:
  • Promptly responds to queries, providing updates and feedback throughout the process.
  • Clearly explains the buying or selling process, ensuring you understand each step.
  • Actively listens to your needs and preferences to tailor their approach accordingly.
  1. Extensive Network:
  • Access to a wide network of industry professionals, including lenders, inspectors, and contractors.
  • Can provide reliable recommendations for related services, such as home staging or legal assistance.
  • Utilizes their network to market your property effectively or find suitable listings.
  1. Comprehensive Guidance:
  • Assists in setting realistic expectations based on market conditions
Here are the 7 most important things to not tell your realtor when selling.
  • What you think your home is worth.
  • Your need to sell quickly.
  • Plans for upgrades before selling.
  • Non-mandatory legal information about your property.
  • You're okay with an inflated history of dual agency.
  • Your lowest acceptable selling price.

What are the three most important things in real estate as an agent?

I believe the three most important things when it comes to real estate are "location, timing, and circumstances," and here's why.

How do you interview a seller agent?

The topics you will want to discuss include the agent's:
  1. Training and background.
  2. Professional experience or specialty as an agent.
  3. How much the agent believes you can sell your property for.
  4. Ability to give you helpful information about local comparable sales.
  5. Track record of recent sales.
  6. Plan for marketing your property.

How do you ask a realtor to represent you?

Write An Email. Email is a great way to reach out because you can include a long introduction describing what you are looking for. Consider including a bulleted list of your “must-haves” and “nice to haves” when it comes to the home buying or selling process.

What scares a real estate agent the most?

How Real Estate Agents Can Overcome Fear and Self-doubt
  • Talking to New People. Some real estate agents have a knack for connecting with strangers; others experience anxiety and dread every time they make a cold call.
  • Fear of Rejection.
  • Empty Open Houses.
  • Unfair Criticism.
  • Being Too Busy.

What do realtors want the most?

When Realtors are surveyed about what they want from lenders, 4 things consistently show up at the top of the list:
  • Reliable Prequals/Preapprovals.
  • Reliable On-Time Closings.
  • Better Communication.
  • Lead Generation Help.

What is the most important for real estate agent?

Top Ten Traits of a Real Estate Agent
  1. Knowledge is power.
  2. Build a network of connections.
  3. Understand the local housing market.
  4. Attention to detail.
  5. Engaging personality.
  6. Interest in houses and architecture.
  7. Hustle and tenacity.
  8. Honesty and integrity.

Frequently Asked Questions

What motivates a realtor?

Success. Most real estate agents come from another profession in which they were very successful. As a result, they are determined to become a success in real estate and won't stop until they achieve that level of success year after year after year. Success motivates them to be the best they can be.

What are the basics of real estate?

Real estate encompasses the land, plus any permanent man-made additions, such as houses and other buildings. Any additions or changes to the land that affects the property's value are called an improvement.

What is the hardest part of being a real estate agent?

One of the hardest parts of becoming a real estate agent is realizing that you only get paid when you make a sale… And it may be months before you make your first sale. Once you get your business set up the skys the limit, but in the meantime, say goodbye to that comfy twice-a-month paycheck.

What do people want most in a real estate agent?

Top Ten Traits of a Real Estate Agent
  1. Knowledge is power.
  2. Build a network of connections.
  3. Understand the local housing market.
  4. Attention to detail.
  5. Engaging personality.
  6. Interest in houses and architecture.
  7. Hustle and tenacity.
  8. Honesty and integrity.

Is it good to buy and sell land?

It Can Generate Cash Flow (If You Want) It's very common for a land flipper to make over 100% ROI just in the sale price alone, and then make an additional 15% interest per year on top. It's also common for them to get 80-100% of their principal out in the down payment!

FAQ

How much should I negotiate on land?
For land buyers, a good rule of thumb is an offer at least 80 percent of the list price to ensure a positive response from the seller, Stout advises.
Why do realtors overpriced homes?
Overpriced real estate listings enable agents to find new buyers who might be potential clients. There are different ways in which agents can find buyers: Sign calls: If a buyer wants to find out the price of a home, typically, they will call the agent's cell phone number and ask.
What are the three most important things in real estate?
To achieve those goals, the three most important words in real estate are not Location, Location, Location, but Price, Condition, Availability.
What percentage do most real estate agents make?
The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight's real estate transaction data of thousands of home sales each year.
How can you tell if a house is overpriced?
5 Signs That A House Is Overpriced
  1. It Doesn't Match The Price Of Similar Listings.
  2. It's Been On The Market For A Long Time.
  3. The List Price Doesn't Align With The State Of The Home.
  4. The Price Doesn't Match Your Calculations.
  5. The Home Hasn't Received Much Attention.

What to expect from your real estate agent

How stressful is real estate sales? You must be able to handle stress in order to successfully sell homes. Your personal life will suffer if it is not properly managed. The emotional toll of selling homes is especially stressful because agents often have no control over their workload and schedule–they're at the mercy of their clients' needs and demands.
What do most realtors make their first year? As of Oct 23, 2023, the average annual pay for a First Year Real Estate Agent in California is $84,380 a year. Just in case you need a simple salary calculator, that works out to be approximately $40.57 an hour. This is the equivalent of $1,622/week or $7,031/month.
What does a successful real estate agents day look like? Daily responsibilities for real estate agents can involve a variety of administrative, marketing and communication tasks. Those that have their own real estate business might delegate some responsibilities to other real estate professionals and manage negotiation or transaction processes.
How likely are you to succeed as a real estate agent? Being a successful real estate agent is easier said than done. After all, there's a reason 87% of real estate agents fail. However, knowing the mistakes these realtors make, such as failing to follow up with clients or not having adequate funding, can help you prepare and grow a successful real estate business.
Why do people quit real estate? The number one reason people quit real estate is because they expect to see immediate results. People expect a solid month of hard work to result in a good deal and a lot of money, and when it doesn't, they are quick to decide real estate must not be for them.
  • Should you interview a real estate agent?
    • Remember, interviewing your Realtor is an essential step in finding the right partner who will guide you toward a successful real estate journey. Take the time to ask the important questions, assess their suitability, and make an informed decision.
  • How do you succeed as a real estate agent?
    • Here are seven tips to help you achieve your goals.
      1. Develop resiliency.
      2. Learn about small business.
      3. Become an expert in your local area.
      4. Create a referral network.
      5. Find a good mentor or training program.
      6. Provide great customer service.
      7. Create a success plan and stay accountable.
  • How much can you expect to make from real estate?
    • The average real estate investor salary sits between $70,000 and $124,000, according to most sources. But to be fair, salaries can vary greatly depending on the type of investing you're doing, how many deals you take on per year, the time you devote to it, and a whole slew of other factors.
  • Is it OK to talk to multiple realtors?
    • Working with more than one real estate agent is fine when you haven't signed an exclusive agreement with anyone, says Adam Aguilar, a real estate agent with Reliantra in West Toluca Lake, CA. “You can use as many as you wish, unless they stop to ask you to make a commitment to them, in writing,” Aguilar adds.

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