Buying a home is one of the biggest financial decisions you'll ever make, so finding the right real estate agent is crucial. You should feel confident and empowered to select the agent who best fits your needs. To help you make an informed decision, here are ten important questions to ask when choosing your agent.
1. Are you a REALTOR®?
When working with a REALTOR®, you’re choosing a professional bound by the REALTOR® Code of Ethics, which includes the obligation to protect and promote their client’s interests. This commitment to ethical standards provides peace of mind during your homebuying journey.
2. What types of services can you provide me?
A qualified agent can offer a range of services, including finding properties that meet your criteria, accompanying you to showings, analyzing market trends, negotiating on your behalf, and more. Be sure to ask about the specific services they provide and how they align with your needs.
3. How well do you know the markets where I am searching for a home?
Your agent should not only be licensed in the area where you’re buying but also possess in-depth knowledge of the local market. Ask how familiar they are with neighborhoods, property values, and market trends in your desired location.
4. Do you have experience working with buyers in my situation?
Agents often specialize in different types of buyers, such as first-time buyers, veterans, or luxury home purchasers. Ask your agent about their experience working with buyers like you and whether they hold any designations, such as the Accredited Buyer’s Representative (ABR®), which signifies specialized skills in buyer representation.
5. Can you tell me about your approach to scouting properties?
Each agent has a unique process for searching for homes. Discuss their use of technology, resources, and business practices to understand how they’ll help you find the perfect home. Do they rely on online listings, off-market properties, or personal networks? Find out what sets them apart.
6. What will be included in our written buyer agreement?
Before you start touring homes, your agent may ask you to sign a written buyer agreement, which outlines the services they’ll provide and how they will be compensated. Make sure you understand the terms and ask about anything that may be unclear.
7. How long will we work together?
Discuss the duration of your relationship with your agent. This will typically be outlined in your written buyer agreement. Ensure that the timeline is reasonable for your home search and that you feel comfortable with the arrangement.
8. What are my options for paying you?
Agent compensation is negotiable. It can take various forms, such as a flat fee, a percentage of the purchase price, or an hourly fee. This should be clearly outlined in your buyer agreement. In some cases, you may be able to negotiate for the seller to cover the agent’s fee as part of the purchase offer.
9. Can you recommend service providers who can help with mortgages, repairs, or closing tasks?
Agents often have a network of trusted professionals, such as mortgage brokers, contractors, and home inspectors. If you’re looking for recommendations, your agent can be a valuable resource to connect you with reliable service providers.
10. Do you have references I can speak with?
A good agent will have no problem providing references from past clients. Speaking with other buyers can give you insights into their experiences and help you determine if the agent is the right fit for you.
Final Thoughts
Selecting the right real estate agent is an important step in your homebuying journey. By asking these questions, you’ll be in a better position to find an agent who can guide you through the process with confidence and expertise.
Note: Real estate practices may vary by state and local laws. Consult with your real estate professional or an attorney to ensure you understand your rights and obligations. For more information, visit facts.realtor.
