The housing market in Austin, Texas, is on an upward trajectory. This booming housing demand is fueled by low supply of housing and rapid economic growth in Austin, which has attracted more people into the city. Austin is ranked the second-highest overvalued market in the United States, with houses selling at about 50.72% more than expected. Recent research indicates that real estate agents sold 5.3% of all homes in Austin at 30% above the recommended price list in the first three months of 2021.
What Is a Real Estate Agency?
A real estate agency like Bramlett Residential is a licensed professional organization that facilitates transactions by connecting buyers and sellers and linking them during negotiations. Usually, they are paid a commission of the total value of the property sold.
Talk to A Mortgage Lender Before Hiring A Realtor
With skyrocketing housing prices in Austin, TX, it is only prudent that you discuss with your mortgage lender to get a preapproval for a mortgage. This way, you can get to engage a real estate agent with a budget that best suits you.
Ask for Referrals from Your Network
With many real estate agents in Austin, settling on the right one can be confusing. In this case, you can ask your family and friends to recommend one they have good experiences with. This way, you are sure that you are working with someone who can deliver according to your expectations.
Research Potential Candidates
Create a wish list and start looking for a potential agent before you are preapproved for a mortgage. One notable thing is to check with the Texas real estate commission (TREC) whether your potential agent is licensed. You can also visit their website for reviews from previous clients.
Interview at least 3 Agents
An interview will give you a close-up insight into the kind of real estate agent you are dealing with. You want someone who understands your needs, preferences, and budget and is comfortably willing to work within your timelines to achieve the desired goal, whether you are buying or selling your house.
Request and Check References
Request the agent to avail to you a list of properties they have recently listed and then do your follow-up to find out if the previous clients had a pleasant experience with the agent. This will help you make a sound judgment as to whether you trust and would feel comfortable working with the real estate agent
Closely Scrutinize Contract
The terms of your contract should be something that you have already agreed upon with your agent. Usually, as a seller, you pay 6% of the sales commission to the real estate agent. Another consideration in the contract is to find a reasonable time frame, mostly not more than six months, as in a competitive market, it is possible to sell or buy a house in far less time.
With over 10197 real estate agents in Austin, Texas, getting the right agent is crucial. It would be helpful if you found a real estate agent who is experienced and can correctly guide and willing and able to work within your preference, budget, and timeline.