There are many things to consider when selecting a real estate agent. Most likely, you are going to meet with him or her before you officially begin to working together. Treat this meeting as a job interview for the real estate agent.
Similar to any job interview, come prepared with questions to ask the agent so you have an idea of how they operate and work with clients. Not sure what you should ask? Here are some questions to help you learn enough to make the right decision about working with a particular agent:
1. What is your average list-price to sales-price ratio?
A good agent will be able to negotiate a sales price lower than list prices for buyers. Past results are a good indicator of an agent’s future performances.
2. What is your to fulfill my needs?
Every buyer’s needs are different. It is important to see what the agent’s plan is to help you accomplish your goals. Some specific questions to ask:
- How do you search for homes?
- How many homes will I be shown?
- Are other buyers going to be competing against me?
- How do you handle multiple offers?
3. Can I review documents before signing?
Another sign of a good real estate agent is they will make forms readily available for you to review before signing. The agent should be ready and able to answer questions you have about the documents, too. Forms to ask for include: buyers’ broker agreement, agency disclosures, purchase agreement and buyer disclosures.
4. What other professionals do you work with?
Find out who the real estate agent works for and why they chose the company. Also ask your agent for his or her preferred mortgage brokers, home inspectors and title companies to give you a sense of the agent’s professional network – and referrals for the next steps in your homebuying process.
5. How are you different from other agents?
Each agent has his or her own traits that differentiate them from their competition. A good agent will be able to easily answer this question and give you more insight on how s/he operates in this business.
Looking for a real estate agent in your area? Call 1-844-77-vLoan today for a real estate agent referral from one of our mortgage advisors. Ready to find out how much house you can afford? Get started with a free rate quote