Why would a buyer looking to buy a home need to interview a real estate agent? Because you are hiring the real estate agent to help you find and purchase a home, most likely one of the most expensive investments you may ever make. It is a good idea to know some things about your realtor who will be representing you when you purchase the home. The realtor is your advocate in the market place so you want to make sure he or she is well qualified to handle the transaction professionally, ethically and timely. To help you in your search for a great real estate agent, below are some things you should ask in your interview with them:
How long have you been a real estate agent? It is a good idea to find out how long the agent has been in the business. A new agent may spend a lot of time with you but an experienced agent may sometimes not be available. The difference is in the experience level. The lack of experience on the new agent’s part may not serve you well. A well seasoned agent may require you to do some of the work on your own, for example, driving around the neighborhood to see if you like it. The difference in experience will be tested during the transaction – offer, presentation and negotiations.
Finding a home is the easy but writing a contract, negotiating, the buyer and performing all the required legal documentation is requires experience, knowledge and knowledge. A mistake can cost the buyer headache and sometimes thousands of dollars. Ask the realtor about their background , education and experience.
Another question to ask a potential real estate agent is what their strategy is for finding or selling homes? Ask to see something in writing to make sure they have a solid plan. This is important and will help you feel out your realtors level of competence. Also make sure to ask what the realtor expects from you in the process. If he says you should just sit back and do nothing, choose someone else. Buying or selling a home is a lot of work and requires the attention of both parties.
How do you negotiate the best deals for your buyers? Ask your agent if he or she will help you decide on a price to offer after you’ve found the home you like. The negotiation is a give and take situation between you and the seller but will your real estate agent be involved? Is your agent knowledgeable and creative enough to make the deal work?
For example, if the seller does not want to pay closing costs and the home warranty also, the agent could draft the offer differently leaving out the home warranty perhaps. Or he may suggest offering a little higher purchase price to include everything the buyer wants and needs in order to be able to close on the home. As a home buyer, you will need to know how your agent plans on helping you get the property that really suits you at the price you can afford.
Can you please provide references? References and testimonials are important because they tell you how your realtor will work with you. References come from past clients so when a real estate agent has the knowledge, ability and patience to help families and individuals, they will say so. Good references should say more than just, “great job” or that Tom is a wonderful real estate agent. Look for references that actually say what the real estate agent did that makes them different from others. If the agent is new ask for references from their broker or past employers and colleagues.
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