Real Estate Agents and the Virginia Real Estate Market

by benborden

It is very important that home buyers choose the right real estate agent. I can not stress this enough. A real estate agent is more than someone to show you homes for sale. The majority of the real estate markets in Virginia such as, Northern Virginia real estate market, Fredericksburg Real Estate, Tidewater real estate and Richmond real estate markets are hot. More often then not, when you submit a contract there is already a contract on that home. When it comes to having someone represent you as a buyer, it is incredibly important that you have a strong negotiator. Right now we are in a very interesting situation because we are in a seller’s market. What I have witnessed over the last 18 months or so is that the strong agents have gotten fantastic deals for their home buyers, and have also gotten top dollar for the houses they listed. Conversely, I have also witnessed weak real estate agents who were not able to pull off the same task.

One of the critical things we know is exactly how much money you are expected to net from the sale of your home. Due to this fact, it is important that we have a very straight assessment from a credible real estate agent, that is, an assessment that is not inflated. Its very important that you choose a real estate agent that has proven through experience that they are exceptionally skilled in representing both buyers and sellers.
I can not begin to tell you how many contracts I have seen that have been lost by home buyers because of weak real estate agents. Real estate agents who did not want to take the time to properly assess the offer price that home buyers should make, weak real estate agents that could not negiotiate a contract for their buyers.

There are many homes for sale in Richmond. Be sure to look at Sunday paper as there are many homes for sale by owner in the current market enviroment. You may find a very good deal among these home sellers for several reasons. The first, for sale by owners are notorious for either over pricing their homes or greatly underpricing their homes. Additionally they are not negotiators. They typically work a salary 9 to 5 job and do not know the ins and outs of real estate contracts or the sales process. Lastly, most FSBO’s are willing to quickly reduce 3% off their asking price as most are aware that home buyers have agents and have already priced that in the home.

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