Hiring a realtor can help you get the best price for your home. According to the National Association of Realtors (NAR), property sold by a licensed real estate agent sells for 30% more than for sale by owner listings.
And real estate agents do much more than just list your home. They are responsible for negotiating, marketing and organizing inspections for your property.
Ready to make your move in Dallas? Start with our list of the best real estate agents in Dallas, Texas to get the most out of your experience.
Benefits of Hiring a Real Estate Agent
There are many benefits of hiring a realtor to assist you with your real estate transaction. Since realtors have more experience selling homes than homeowners, they’re able to identify important aspects of your home sale.
Some ways real estate agents get you the most for your home include negotiating appraisal values, negotiating inspection addendums and making counter offers to buyers.
Liability
Hiring a real estate agent shifts some of the liability associated with selling real property. When you sell property, there are several contracts that need to be signed, including offers, inspection addendums, appraisal addendums and closing documents.
Without knowing all the necessary components of these contracts, you may find yourself liable for omitting necessary information about your property.
Financial Benefits
If you’re looking to buy a home, a buyer's agent can benefit you financially. You aren’t responsible for paying your buyer’s agent. The seller typically pays for both agents in a transaction, so you might as well use a realtor.
Hiring either a buyer or seller agent can be a good financial decision when transacting property. Even if your realtor charges a 6% commission, they often makeup for this cost by fetching a higher price for your home.
Experience
It’s likely that the real estate agent you hire has had much more experience transacting real estate than you. Since most realtors have facilitated many transactions, they know what to ask for, and how to ask for it, when negotiating.
It’s a common misconception that negotiating real estate is strictly a financial matter. Many factors play into negotiating, including closing dates, earnest money deposits (EMD), furniture and what gets repaired after an inspection.
Attention to Detail
Without previous experience, it’s hard to realize what’s important when buying or selling a home. Since most realtors work in the industry full time, they know what to pay attention to in contracts and during showings.
Realtors also have a good idea of what aspects of a home are most expensive, such as roofing, HVAC and appliances. These are big expenses when it comes time to replace and repair, so it’s important to identify where these items are in their lifecycle.
Questions to ask to a Real Estate Agent
Although not common practice to interview your realtor, some homeowners decide to interview their agent before deciding whether or not to list their home.
This can be a great way to get an idea of what your realtor will do for you, especially if you aren’t already familiar with your agent.
How Long Have You Been in the Business?
The amount of time a realtor has been in business is important, but the realtor’s transaction volume is also important to know. Some realtors have been licensed for years but have much less experience than new realtors that have had more closings.
Asking both how long your realtor has been in business as well as their transaction volume will give you a good idea of how much business your realtor does. If your realtor does several transactions a month, you can be confident that you’re hiring an experienced professional.
Can You Provide References?
Most realtors have a website or use a website for references. References are a great way for you to see other’s experiences with your realtor.
Many references include important information, such as if the home sold for more than asking price, the time it took to sell the home and the overall professionalism of the realtor.
What's Your Best Strategy for My Needs?
Your realtor should have some type of strategy according to your needs. If your agent struggles to answer this question, it may be telling of their selling capabilities.
Although there usually isn’t a unique strategy for every client, if you’re listing an expensive property you should expect part of the realtors commission to go toward marketing expenses.
What's Your Average Commission?
Asking this question opens the floor to negotiate an agent’s commission. You shouldn’t assume a realtor will discount their commission, but it doesn’t hurt to ask.
Many agents will happily cut commission half of a percent to secure a listing.
Can I Review Documents Ahead of Time?
Realtors should be happy to give you documents to review in advance. Most documents in a real estate transaction get written up as the process moves forward, such as addendums, offers and listing documents.
However, if you’re interviewing an agent, they should be able to provide you with an agency agreement document for you to review your contract with your prospective agent.
What Differentiates You From Your Competition?
Again, this is a good question to ask to get a feel for your realtor’s selling abilities. If they struggle answering this question, they’re likely not the best salesperson.
Some answers to look for here are whether they do volume in your area, what brokerage they work for and how they approach home sales.
Top 10 Real Estate Companies in Dallas, TX
- Ebby Halliday Real Estate Inc.
- Keller Williams Realty
- Iconic Real Estate
- Dallas Luxury Realty
- Skyline Realty Firm
- Knox & Associates Real Estate Brokers
- NB Elite Realty
- ULR Properties
- VIP Realty
- Bill Griffin Real Estate
Best Real Estate Agents in Dallas, TX
Hiring the right realtor is crucial for a successful real estate transaction. The more experience your realtor has had, the more confident you can be that your home will sell.
The top realtor by transaction volume worldwide actually does business in Dallas, Texas. The Top-Ranked U.S. Real Estate Agent Ben Caballero sold more than $1.5 billion in real estate in 2019 alone.
Should You Hire a Realtor?
If you’re a buyer looking for a home, it’s wise to hire a realtor. Buyer’s agents are paid by the seller, so it won’t cost you anything.
Listing agents typically charge 6% commission, and 3% goes to each agent in the transaction. Although expensive, homeowners often recoup this commission by getting a higher price for their home.
But it’s important to keep in mind realtors don’t always get a higher price for your home, and some see real estate agencies as a dying industry as self-managed online options abound.
Weigh the options in your personal situation, contact some of the best real estate agents in Dallas and move forward with your real estate plans in Dallas.