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The agent who just sold your house may have done a terrific job. And you may be tempted to simplify the selection process for finding an agent for your repurchase by asking that same agent to help you with buying.
You're possibly making a mistake if you rehire the listing agent when you repurchase. Here's why:
- Buying and selling require different skills.
- Moving from one geographic area to another requires knowledge of two local real estate markets that may have quite different issues and property values.
- Different agents specialize in different price ranges and types of properties, and you're probably not moving to a property of the same type and in the same price range.
If you believe that your listing agent also has the skills needed to be a good buying agent, and you're moving within the community into a similar type of property, then interview that agent as one of the three agents you're considering hiring. Make clear to the agent who sold your house that, although you appreciate his or her efforts for you as a seller, the agent who best meets your needs as a buyer is a separate issue.
- Keep Copies of the Closing and Settlement Papers
- Keep Proof of Improvements and Prior Purchases
- Stash Your Cash in a Good Money Market Fund
- Double-check the Tax Rules for Excluding Tax on Profits
- Cast a Broad Net When You Consider Your Next Home
- Remember That Renting Can Be a Fine Strategy
- Reevaluate Your Personal Finances When Things Change
