Real Estate

Buying, selling or renting a property is a big step, and most people don't do it often enough to feel sure of themselves. A good real estate professional makes it a lot easier. Here you'll find agents, brokers, property managers and appraisers who can help whether you're looking for your first apartment or your tenth investment.

What you'll find here

Residential agents and brokers, buyer's agents, listing agents, rental and leasing agents, property management companies, commercial property brokers, appraisers, and people who sell new-build homes or help with investment property.

Whose side is your agent on?

A buyer's agent works for the person buying. A listing agent works for the person selling. Sometimes one agent handles both sides of the same deal, and that's allowed in some places but not others. Before you sign anything, ask who the agent is actually working for. It's a simple question and the answer tells you a lot.

How agents get paid

Most agents take a commission when the property sells, usually a percentage of the price. The rate, and who pays it, depends on where you live. Rates can often be negotiated too. Get the figure in writing, and check what happens if the sale falls through or you change your mind halfway.

Getting the price right

If you're selling, a price that's too high can leave your home sitting for months. If you're buying, it can mean overpaying. The fairest guide is what similar homes nearby have actually sold for, not what people are asking. Ask your agent to show you those sales. If you want an outside opinion, an independent appraiser can give you one.

Don't skip the inspection

A home can look perfect and still hide a leaking roof or bad wiring. A proper inspection costs a little now and can save a lot later. If it turns up problems, you can ask the seller to fix them or lower the price. Your agent can tell you which checks are normal where you live.

What happens after your offer is accepted

There's still a fair bit to do: financing, inspections, legal paperwork and closing. Each step has a deadline, and missing one can cost you your deposit. Ask for a simple timeline at the start. Also ask for a list of all the closing costs early, because they come on top of the price.

Renting out a property

Looking after tenants is a job in itself. A property manager can find tenants, collect rent, deal with repairs and keep you on the right side of the rules. Most charge a monthly fee or a share of the rent. If you're the tenant, read the lease carefully and check who pays for repairs before you sign.

Commercial property

Shops, offices and warehouses work differently from homes. Leases run longer, the terms are tougher and the numbers are bigger. Look for a broker who knows your type of property and your area, and read the lease line by line. It's worth having a lawyer check it before you commit.

Buying to invest

The price of the property is only the start. You'll also pay for repairs, insurance, taxes and the odd empty month. Work out your numbers using realistic rent, not the best case. Rules for landlords and short-term rentals change a lot from place to place, so find out what applies to you first.

Selling your home

Good photos and a clear listing matter more than most people think. Ask your agent how they'll advertise your home and who they'll show it to. A bit of tidying, a coat of paint and a few small repairs often pay for themselves when buyers walk through.

When to start

Property markets have busy and quiet seasons, and good agents fill up fast. Start talking to people earlier than you think you need to. If you're selling one home and buying another, ask how your agent will handle the gap if the dates don't match.

Before you choose someone

Ask how long they've worked in your area and how many homes they've sold lately. Ask to speak to a past client. Find out who you'll deal with day to day and how often they'll update you. And check they're properly licensed, which you can usually do on your local regulator's website.