Many people contact me to ask me how to choose the best Real Estate Agent. Choosing the correct Agent can be a daunting task, especially in this economy. With so many foreclosures, short sales, REOs and distressed properties in the market, it makes a potential home buyer's head spin! I have compiled a "checklist" of sorts and put it here for you, Mr. or Ms. Future Homeowner, to use when trying to decide on a Real Estate Agent.
Here is a list of questions and topics you should definitely discuss with an agent you are considering using:
As my Agent, what are the services you will provide me?
This question is meant to be open ended. That Agent sitting across from you is going to make a commission of the sale/purchase of your next home. You will want to know exactly what he or she has to offer. From a sales plan, if you are a seller to a detailed report of the area you are looking to buy in, if you are a Buyer; your Agent should be able to anticipate and address each and every one of your needs and concerns.
What is your plan of action with regard to locating a home for me to purchase?
As a Buyer, you know basically what you want.. but you do not what you do not know. That means your Agent should fill in those blanks. Your Agent should be ready and capable of doing research for you. Do you have children? Your Agent should be prepared with information on the appropriate schools in the area. Are you a jogger? Your Agent should be prepared to show you points of interest that will be in your neighborhood.
How much time will you give me?
We, as Real Estate Agents, LOVE TO TALK. More than talking, we love to talk about ourselves and what we can do. Make sure that when you are having this conversation with your prospective Agent, he/she can talk about what he/she can do FOR YOU and not what he/she has done in the PAST. You do not need to know how he/she did last year, you want to know what he/she is doing this month and how much time he/she has to devote to your needs. An Agent with 20 listings and 10 prospective buyers may not be able to give you the same level of service that an Agent with 2 listings and 2 buyers will be able to give you. Remember, you are looking for a HOME not a pair of shoes…you don't need to scrape the bottom of the bargain bin on this one!
What is the price range you propose for me?
Now this may sound odd to you. Why would you ask your Agent about price ranges when he/she has no idea about your financials. This is where the benefit of working with an Agent that is affiliated with a Broker who has a standing relationship, and in some cases even a dedicated representative, at a Direct Lender comes in handy. When you work with Agents that have outstanding working relationships with Lenders, you get the best of everything in one shot. Your Agent will be able to work with his/her representative at the Lender to make sure your pre-approval letter is ready to go when making offers. When you know how much loan you can get, you know how much home you can buy!
As a Buyer, you will not be paying your Agent, because Buyer's Agents' commissions come from the Seller's proceeds. Even so, you will still need an Agent who will be able to represent your needs accurately and efficiently, while providing you with EXCELLENT customer service. If you encounter an Agent that is not treating you well, GET RID OF HIM/HER – there are too many Agents out there who will be MORE than happy to serve you to the best of their abilities.
