Buyer’s Edition: 10 Questions to Ask When Interviewing Your Realtor

Buying a home is one of the biggest financial decisions of your life.  If you are not familiar with the process, it is intimidating and overwhelming to navigate.  That is where a Realtor®, or specifically a buyer’s agent, comes in.  A buyer’s agent represents your interests, not the seller’s. He or she can help you find your dream home, negotiate a strong offer for you, and guide you through the closing process.  But how do you select the right Realtor®?

Buyers often make the mistake of going with the first Realtor® they meet.  Not interviewing and researching your Realtor® can negatively impact you financially and make the buying process more stressful.  Before making your choice, research the agent online and arrange a time to discuss their experience and style of business.  You can use the 10 questions below as a starting point.  A good Realtor® will help relieve your stress and leave you confident that you got the best deal. Take your time to find a Realtor® that you trust.

  1. Are you a full-time real estate agent?  Do you want an agent who dabbles in their spare time? Or a professional working 40 hours a week to master the market and their skills?
  2. What is your experience in real estate? Remember youth does not mean less experience.  A lot of older agents start real estate as a second career and may have only a year under their belt. If you like a newer agent but are concerned about their experience, request he or she teams up with a more experienced agent in the office for your transaction.
  3. How many clients do you have? There is no magic number here.  If you feel the number is too high, ask what support staff she or he has to handle the large workload.
  4. In which neighborhoods do you work?  Local market knowledge is one benefit to working with an agent.  If the agent isn’t familiar with the area, it may hurt you later.  If you are bold, you may even ask the agent what neighborhood he or she lives in.  That can really tell you how well he or she knows an area.
  5. How will you keep me updated?  Communication is key when buying real estate.  How will he or she regularly communicate throughout the process from new listings to the final closing? Make sure it is a method you can use.  If you don’t text and the agent primarily communicates via text message, that will be an issue.
  6. Are there any additional fees involved?  Most sellers pay a buyer’s agent’s commission.  However, brokerage fees are common.  Also ask what happens if a seller won’t pay the commission.  This may happen if you all put in an offer for a “For Sale By Owner” listing.
  7. How do you stay updated on the market?  Just like you don’t want a doctor who went to medical school and then stopped studying, you want an agent who continues learning and following the market as well.
  8. What sets you apart from other Realtors?  You want an agent who brings something extra to the table.  This questions will help you decide if your agent has any competitive advantages over others.
  9. Will I be working directly with you?  Most agents work in teams now.  Older agents also may pass clients off to newer agents.  If this is something he or she practices, decide what you think now.
  10. Do you own your own home?  This sounds like a silly question but you may be surprised.  You want an agent who practices what he or she preaches and has been in your shoes.

 

 

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