When you’re going to buy your first home, the relationship you have with your real estate agent can mean one of two things. Either you have a very pleasant experience and get exactly what you are looking for, or it’s a complete nightmare of a house hunt for you. Depending on what information your real estate agent provides, it can ease out your efforts and reduce the time it takes for you to select a good home.
Statistics say that in 2019, 89% of all buyers and investors in the real estate business, used the services of a real estate agent so choosing the right agent with just the right mentality and experience is a crucial step to ensuring that you buy the home you want. To make sure you’re working with the agent that best suits your needs, here are 25 questions every buyer should be asking their real estate questions before hiring their services.
How long have you been an agent?
An agent who has been in the field for a considerable amount of time has the ability to foresee problems before they arise and have previously tried, tested and working negotiation techniques. A bonus due to this experience will also be that they will have relationships with other real estate professionals already.
How many homes, total, do you help close?
According to statistics, the average number of homes closed per year for a real estate agent is 12, so it could be an issue with the skill of the agent if he is scoring way below those numbers.
Do you work full time or part-time as an agent?
Full time agents are more likely to devote their time and effort for a longer period of time than people who are agents as something on the side.
Do you work with both buyers and sellers?
Many people acting as agents either specialize in the buying department or the selling department and there are very few who specialize in both. An agent who could provide insight on both buying and selling process would be much more suitable.
How many buyer clients do you have right now?
This is a tricky question to ask for yourself. Too many clients could mean the agent wouldn’t have enough time to devote to your project and too few might mean he’s not good enough.
What’s the ratio of buyers to sellers that you represent?
If your agent has a balance of both clients who have bought and clients who have sold properties through this agent, it would mean that he has considerable knowledge of both sides. If the ratio is uneven, you can judge which side he is more expert in.
How long do you usually work with buyers, from the first house you see together to the closing deal?
The time it takes for a areal estate agent to get the buyer the required house really depends on how long the buyer takes to choose a house and a price. But you should be wary of your real estate agent if he usually takes six months or more finding a house for a client.
Can I see your real estate license?
Always make sure you’re working with a licensed professional. There are a lot of scams out there.
Do you have references I can call?
If, upon asking, your real estate agent cannot provide you with a list of reference clients you can call and ask about the service, there’s something fishy going on in there somewhere. Be sure to vet your new agent with the same rigor you would to any other professional you’re going to work with.
Have you helped buyers find homes in this area?
Your real estate agent should be updated with all kinds of knowledge about the area you’re looking to buy a house in. Make sure your agent knows the area you want to buy in.
Have you helped buyers find homes in these price ranges?
Marketing strategies of homes depend on the price ranges those homes fall in and consequently affect how the agent views each house individually. Affirm price ranges with the agent so you know your price range falls in the experience of the agent.
Will I be working with you individually or with a team?
It can be a concerning issue if you’re handed over to an assistant after the agent says that he will handle your work personally. Make sure who you will be dealing with directly and what the team will consist of if that is the case. Also make sure what the agent will be handling personally and what might be delegated to the support staff.
Can you recommend a (fill in the blank)?
Just buying a house is not what the agent is supposed to be handling. The agent should be able to recommend real estate lawyers, general contractors, mortgage brokers and more for the purpose of further easing the buyers process of buying.
How does your commission work?
Ensure that you get a good understanding of how your agent is planning to get compensated for his services before entering into a relationship with them.
How do you help buyers compete in this market?
Question your agent as to how they will make their offer stand out in all of the offers that the other agents are making. If you’re wanting to buy in a competitive market, standing out from the competition is crucial.
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