If you are looking to buy a house, a reputable buyer’s agent will benefit you in your home search.
Your home will probably be the most expensive purchase you make in your lifetime.
You want to treat that purchase as such.
Spend some time interviewing agents to guarantee you have the best experience purchasing your home.
Below there are 5 questions to ask a realtor before signing a buyer’s agreement.
1. On average how many homes do you show your buyers?
It is good to know how many homes a buyer's agent shows on average.
Typically it should not take too many showings (average is 5-10).
The agent should be able to narrow down what it is their clients want. An agent who values their client’s time is a sign of a good agent.
They should schedule showings that match the “must haves” that their clients want.
Granted, there aren’t always homes that have everything buyers want.
A good buyer’s agent can show similar houses, that may not be the “dream home” but make a compromise.
2. What is your buyers strategy in current market?
Sometimes it is a buyers market and sometimes it is considered a seller’s market.
In a seller’s market it generally means the seller has an advantage over the buyer.
This is when there are less homes on the market than there are buyers.
A buyer’s market is vice versa, where there are plenty of homes on the market and less buyers.
A buyer’s agent should be able to present you with a strategy to follow for either market.
Be sure to ask what sorts of strategic tools they can use in your current market to find you what you are looking for.
3. Do you have references that I can call?
Similarly with a listing agent, it is a great idea to follow up with references for a buyer's agent.
Typically these would be past clients, or other local agents or businesses.
Aside from personal references, check out reviews of your real estate agent.
4. Do you have recommendations for title companies, inspectors, mortgage brokers etc?
Realtors should have good contacts for local companies to assist with your home buying process.
Shopping locally for mortgage brokers can help with reduced rates and increase the ease of your transaction.
A good buyers realtor will be able to point you to the right connections.
5. How often will we keep in contact during the home buying process?
There are over 150 processes during the home buying process.
Because there are so many moving parts, it is important for your realtor to keep in touch with you.
Any issues that may arise can be solved quickly with frequent contact. Also figure out the best method to contact them in case of an emergency.
Make sure the prospective agent will be available before you sign with them.
Spend some time finding a good buyer’s agent.
Understand what is important to you in the purchase transaction and explain that to your agent.
Manage expectations in the beginning so that both parties can have a good experience during the somewhat stressful home buying process.
If you are curious as to how to best navigate your real estate situation, please give me a call. I would enjoy discussing your real estate needs. 208-310-0855.