• Fri. Jul 19th, 2024

A Guide to Hiring the Right Real Estate Agent in the United States as a Foreigner

Louise Villalobos

ByLouise Villalobos

Feb 21, 2024
A Guide to Hiring the Right Real Estate Agent in the United States as a Foreigner

If you’re planning to purchase a house in the United States as a foreigner, then you will need to hire a real estate agent to guide you through the buying process. Such an agent has connections with several property sellers and offers valuable information about the real estate market of a particular area.

Moreover, real estate agents help clients identify ideal housing units that meet their requirements and budget. In this article, we will teach you how to hire the appropriate real estate agent in the US as a foreigner. Read on to learn more.

Real Estate Agent Defined

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Simply put, real estate agents are professionals who help people buy or sell homes. They utilize their extensive market knowledge to guide clients in finding the right houses and negotiate the sale price on behalf of those clients. After arriving at an agreed sale price, the agents help clients complete the necessary documentation to ensure the buying process is conducted smoothly.

As mentioned earlier, hiring a real estate agent as a foreigner is vital when buying or selling property in the United States. The agent should have sufficient real estate knowledge and be registered with relevant bodies.

A CIPS Agent

The person you hire to guide you through the home-buying process should be a Certified International Property Specialist (CIPS) agent. This agent has been trained to deal in international real estate transactions. That means they have experience helping people purchase or sell homes in foreign countries.

When you hire a CIPS agent, you are likely going to avoid getting into a fraudulent deal as the agent conducts proper research on the buyer or seller.

What Do Real Estate Agents Do?

Good real estate agents do the following:

  • Regularly update their list of houses available for sale.
  • They schedule property tours on behalf of their clients.
  • They promote houses open for sale.
  • Real estate agents inform clients of market trends.

Difference Between Buyer’s Agent and Seller’s Agent

Buyer’s Agent

When you want to purchase a house, seek the services of a buyer’s agent. They have a wide selection of properties for sale to help you pick the right one. Also, they will help you negotiate with the seller.

Seller’s Agent

This agent is the one you hire when you want to sell your property. They guide you in setting a realistic price for your house to increase your chances of finding a buyer. Moreover, a seller’s agent promotes the property on your behalf.

Steps to Take Before Hiring Real Estate Agent

Here are the steps you need to take before contacting a real estate agent:

Home-Buying Process:

1. Obtain Mortgage Pre-Approval

This step is crucial as it helps you determine the budget for your new house, making it easy to avoid looking for property you cannot afford. You can research to find the lenders offering mortgages to foreigners.

2. Understand How Buying a House Using a Mortgage Works

It is important to learn how much you will be required to pay as a down payment for a particular house and the monthly repayments.

3. Know Your Housing Requirements and List Them

This step involves defining the type of property you want to buy and in which neighborhood.

Home-Selling Process:

1. Organize Your Property

This step requires you to prepare your house for sale. Ensure you repair all damaged areas before contacting an agent.

2. Research on the Available Seller’s Agent

The search for the right seller’s agent should start as early as possible. If you find one, make sure to consult them on various issues regarding the property before putting it up for sale.

How Do You Make Sure That a Real Estate Agent is Legit?

Not all real estate agents are legit. Here is how to identify a genuine one:

1. Check the agent’s license to ensure they have the right training.

2. Ask the agent to share their references. After that, ask the references about their experiences with the agent.

Louise Villalobos

Louise Villalobos

Louise Villalobos is an adept writer, renowned for her compelling articles that illuminate and engage. Her prowess in breaking down intricate subjects provides readers with clarity and nuance. With a vast and varied portfolio, Louise has solidified her standing as a distinguished voice in contemporary journalism.