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Answers (23)
Best Answer
- Michael Marshall, "Homebuyers Advocate"
- Contributions:6
You listed some good points to look for in a Buyer's Agent.
*Does agent have Brokers license or just R/E Agent
*Experience
*Most IMPORTANT factor to consider when looking for a Buyer's Agent is an Agent/Broker who is a true "Exclusive" Buyer Agent.
My blog has a lot of good, informative posts to help you find a professional qualified Buyer's agent.
How To Find A Good Buyer's Agent!
My blog has been referrenced in national magazine, This Old House and major newspaper in Central Ohio area. I think you will find a lot of useful information on "true" Buyer's Agent in my blog (HomeBuyers Advocate)
Good luck in your search.
HomeBuyer Advocate Mike
*Does agent have Brokers license or just R/E Agent
*Experience
*Most IMPORTANT factor to consider when looking for a Buyer's Agent is an Agent/Broker who is a true "Exclusive" Buyer Agent.
My blog has a lot of good, informative posts to help you find a professional qualified Buyer's agent.
How To Find A Good Buyer's Agent!
My blog has been referrenced in national magazine, This Old House and major newspaper in Central Ohio area. I think you will find a lot of useful information on "true" Buyer's Agent in my blog (HomeBuyers Advocate)
Good luck in your search.
HomeBuyer Advocate Mike
- Paul Klenk, "Paul K Olympia Agent"
- Contributions:501
Please make sure the agent is full-time. Someone who is going to be in the know about the area and the market, the trends, different technical and legal aspects, Needs To Be Full-Time.
Then let's move-into the other questions that will determine personatily and time and response fit to your needs.
I hope you found a good agent. There i a lot of good info here for the new buyers coming on the market.
- Mack McCoy
- Contributions:807
There is no checklist that will get you the right agent.
The problem with all of these questions is that there is no "right" answer. A non-Realtor can do as good a job as a Realtor (yes, they can); production is not an indicator of customer satisfaction, experience is not the same thing as education.
The one thing a checklist does is test the patience of the agent, which may be a worthwhile activity. But I think that there's more than one type of agent for any body, and there are no Universal Most Important Questions worth having the answer to.
Try making a checklist of what's important to you; I think that will take you farther in the direction you want to go.
The problem with all of these questions is that there is no "right" answer. A non-Realtor can do as good a job as a Realtor (yes, they can); production is not an indicator of customer satisfaction, experience is not the same thing as education.
The one thing a checklist does is test the patience of the agent, which may be a worthwhile activity. But I think that there's more than one type of agent for any body, and there are no Universal Most Important Questions worth having the answer to.
Try making a checklist of what's important to you; I think that will take you farther in the direction you want to go.
- Thomas Mackelburg, "Tom the Inspector"
- Contributions:5
Believe it or not, find a good home inspector and ask for a few numbers. Us home inspectors see all kinds of realtors and can recommend a few good ones.
- sunnyview
- Contributions:24005
I also do not agree that an exclusive buyers agent is necessarily the way to go. I want an agent that is plugged in to the entire process and the local market. Taking listings, running CMA's for listings/purchases and understanding what is selling in the market makes many agents more professionally rounded in my opinion. I think a good agent who takes listings also can honestly represent the buyer and negotiate on their behalf without conflicts. Hiring an exclusive buyers agent does not guarantee getting a good agent or no conflicts in the deal either.
- BMFPitt
- Contributions:1207
Ask them their view on the housing market. If they say anything along the lines of, "The bottom is definitely [almost] here," "buy now before you get priced out forever," "stop throwing money away on rent," or any variation of "you need to own in order to have a stable family," then immediately disqualify them and move on.
- Jeff Konstant, "jkonstant"
- Contributions:1970
Personally I disagree with the suggestion that an "Exclusive Buyer's Agent" is the best way to go. The biggest flaw in this thinking is they do not keep up with seller issues. An agent who works exclusively with buyers cannot fully appreciate the many positions sellers might find themselves in. How can you effectively sell a short sale and provide proper guidance when you have no idea what the seller actually goes through during the process. The continued demonization of dual agency is nothing more than an artificial means of propping commissions.
If you want to ask a buyers agent a real question, ask them if they will show you homes and "represent you to the fullest" even if it is a FSBO offering only $500 instead of the "buyer agent" required 3%. Even advocates of FSBO's who feel commission can be saved suggest offering the going rate for buyer's agents.
I'll be the first to say it here. Agents and brokers from traditional (6%) brokerages all talk badly about the flat fee/limited service brokerages among themselves just as they b!tch and moan and make up lots stories to keep their "represented buyer clients" away from homes that don't meet their commission threshold. It's true. It happens in offices all over the place. Try selling a home with a 1% buyer's agent commission. Listen to what you are told and then decide for yourself whether it's all about maintaining high commissions. The quickest way to get mold in your home is to advertise a low commissions to buyer's agents. Those rumors will spread faster than the mold could have.
I'm not saying buyers agency is bad, just be honest about the real motivations behind it.
If you want to ask a buyers agent a real question, ask them if they will show you homes and "represent you to the fullest" even if it is a FSBO offering only $500 instead of the "buyer agent" required 3%. Even advocates of FSBO's who feel commission can be saved suggest offering the going rate for buyer's agents.
I'll be the first to say it here. Agents and brokers from traditional (6%) brokerages all talk badly about the flat fee/limited service brokerages among themselves just as they b!tch and moan and make up lots stories to keep their "represented buyer clients" away from homes that don't meet their commission threshold. It's true. It happens in offices all over the place. Try selling a home with a 1% buyer's agent commission. Listen to what you are told and then decide for yourself whether it's all about maintaining high commissions. The quickest way to get mold in your home is to advertise a low commissions to buyer's agents. Those rumors will spread faster than the mold could have.
I'm not saying buyers agency is bad, just be honest about the real motivations behind it.
- Linda Strasberg, "L STRASBERG"
- Contributions:2259
Not all agents are created equal.
- hpvanc
- Contributions:2270
Here is one for highly technical people.
Are you capable assisting me with buying a home without pushing the emotional aspects of it.
I am still having problems with this one after specifically asking it in the interview and letting them know when I was making an offer on a house that NONE was the only acceptable level for this.
I am not a salesperson, and you are working for me, I should not have to put up with it.
Are you capable assisting me with buying a home without pushing the emotional aspects of it.
I am still having problems with this one after specifically asking it in the interview and letting them know when I was making an offer on a house that NONE was the only acceptable level for this.
I am not a salesperson, and you are working for me, I should not have to put up with it.
- Orin Sherman MBA
- Contributions:53
I would, think that if you like the person's personality or not because they will be in your life for a few months and if you cannot stand their attitude, then communications will break down.
- Loretta Wetz, "lorettawetz"
- Contributions:14
Please make sure you are pre-approved first.
Happy house hunting- Loretta
Happy house hunting- Loretta
- Hamp Yonce, "Zilluminati"
- Contributions:3464
Checklist Item 38.
Is Agent a proponent of the use of checklists?
Checklist Item 39.
Have checklists, in use by agent, been reviewed against database of existing checklists, and checked for checklist accuracy, and completeness?
Is Agent a proponent of the use of checklists?
Checklist Item 39.
Have checklists, in use by agent, been reviewed against database of existing checklists, and checked for checklist accuracy, and completeness?
- Patty Everitt, "Patty Everitt"
- Contributions:44
I just want to add that the company the agent works for will also aid in substantiating their professionalism , it goes a long way to making the purchase of a home a smooth transaction as possible ! -Patty Everitt, ABR, GRI, e-PRO
- sunnyview
- Contributions:24005
I like Hamp's question a lot because it goes to the heart of the motivation for the sale itself. I would add are you honest? How do you research different houses/areas that I might be interested in? Will you give me your opinion if I ask whether I can do better valuewise in my market with another house given my goals and finances?
- Hamp Yonce, "Zilluminati"
- Contributions:3464
Is agent a Cheerleader or Coach?
- Kevin Lisota
- Contributions:478
Even if you are not explicitly looking for a short sale or bank-owned property, you may encounter them in your search. You should inquire about their experience and policies with regards to these transaction types. I'd also ask about their experience with competition in multiple-offer situations. (Yes, that is happening in today's market.)
I've written a post about the "buyer's agent agreement" that you may want to check out as well.
I've written a post about the "buyer's agent agreement" that you may want to check out as well.
- Spencer Rascoff, "spencer"
- Contributions:2093
This might be implied by #4 and #6, but I'd add:
8) How responsive is the agent? (How quickly does he/she get back to me?)
and
9) How tech savvy is the agent? (This is less important when looking for a buyer's agent than a listing agent, but still important.)
8) How responsive is the agent? (How quickly does he/she get back to me?)
and
9) How tech savvy is the agent? (This is less important when looking for a buyer's agent than a listing agent, but still important.)
- Jim Reppond, "Jim Reppond"
- Contributions:117
All GREAT questions. I think as a buyer you want to see how articulate the agent is, and get a feel for his/her communication style to see how they match with you. So, some kind of question like the following would be insightful:
"What is a common mistake that you think buyers often make? And what would you do or say to them to help them avoid this?"
"What is a common mistake that you think buyers often make? And what would you do or say to them to help them avoid this?"
- Nancy Lee, "An OrderLee Home"
- Contributions:1195
All of the above, yes (with the possible except of the pitch-fork, you cannot expect anyone to dress formally all the time.)
Getting a bit intangible here: When you interview an agent, that agent is also interviewing you. As you talk, do they give good examples of how they handled particular client's needs in the past, then bring the discussion back to your particular needs? Do their examples and questions show they remember what you told them previously? How well do they sell themselves to you? Do their examples (and you should ask for lots of examples, then look for patterns within the examples) tell about high energy, community knowledge, real estate knowledge, and respect for/attention to each previous client's needs? Look for good communication: when they answer a question, does the answer actually relate to the question? ARE they interviewing you, seeking to understand you? If not, if the interview does not come back to you over and over, look elsewhere.
Getting a bit intangible here: When you interview an agent, that agent is also interviewing you. As you talk, do they give good examples of how they handled particular client's needs in the past, then bring the discussion back to your particular needs? Do their examples and questions show they remember what you told them previously? How well do they sell themselves to you? Do their examples (and you should ask for lots of examples, then look for patterns within the examples) tell about high energy, community knowledge, real estate knowledge, and respect for/attention to each previous client's needs? Look for good communication: when they answer a question, does the answer actually relate to the question? ARE they interviewing you, seeking to understand you? If not, if the interview does not come back to you over and over, look elsewhere.
- FriendshipProperties
- Contributions:788
1. License #
2. Are you a member of Board of Realtors?
3. Are you a full time or part time agent?
4. How many houses did you list in the last 6 months? (client marketing)
5. How many houses did you sell in the last 6 months? (sales marketing)
6. What were the listing prices and final sales prices? (negotiation)
7. How many houses did you buy for clients in the last 6 months? (understanding/delivering/matching clients needs)
8. What was the listing price vs. what the buyer actually paid? (negotiation)
9. How many years have you been licensed? (experience)
10. Do you have quality mortgage lenders you can recommend and pre-approve me?
.. thats a start. Buyer agents get paid by the sellers agent, so there should be no commission/cost. Also there's no reason to push signing an agent agreement .. all it does is force you to stick with that agent (even if there terrible on some occasions).
2. Are you a member of Board of Realtors?
3. Are you a full time or part time agent?
4. How many houses did you list in the last 6 months? (client marketing)
5. How many houses did you sell in the last 6 months? (sales marketing)
6. What were the listing prices and final sales prices? (negotiation)
7. How many houses did you buy for clients in the last 6 months? (understanding/delivering/matching clients needs)
8. What was the listing price vs. what the buyer actually paid? (negotiation)
9. How many years have you been licensed? (experience)
10. Do you have quality mortgage lenders you can recommend and pre-approve me?
.. thats a start. Buyer agents get paid by the sellers agent, so there should be no commission/cost. Also there's no reason to push signing an agent agreement .. all it does is force you to stick with that agent (even if there terrible on some occasions).
- CubsfaninWA
- Contributions:568
[inappropriate comment, removed by moderator]
- wetdawgs
- Contributions:23291
In addition, when you walk through a house or two, give the agent feedback about the house and the good features and bad features relative to your desires. See if agent modifies search criteria related to your feedback.
- wetdawgs
- Contributions:23291
Do you have to sign an agreement with the individual? Preferred answer is no.
In interactions with buyer's agent, assess how well she/he listens. For example, if you say "not with 1/2 mile of freeway" or "no swimming pools", do you start seeing houses with those characteristics in their searches?
Will they preview houses for you?
What does s/he know about the neighborhoods?
How many years of experience?
How many houses bought/sold over that time?
How s/he communicates and alerts you to potential houses of interest?
Ask about the agent's expectations of the buyer.
See if the agent asks about preapproval (if not, not a good sign).
Listen to see if agent makes disparaging comments about any seller or previous client. (You can ask leading questions).
What questions does the buyer's agent ask to get a feeling on what might fit your needs (and/or family)
In interactions with buyer's agent, assess how well she/he listens. For example, if you say "not with 1/2 mile of freeway" or "no swimming pools", do you start seeing houses with those characteristics in their searches?
Will they preview houses for you?
What does s/he know about the neighborhoods?
How many years of experience?
How many houses bought/sold over that time?
How s/he communicates and alerts you to potential houses of interest?
Ask about the agent's expectations of the buyer.
See if the agent asks about preapproval (if not, not a good sign).
Listen to see if agent makes disparaging comments about any seller or previous client. (You can ask leading questions).
What questions does the buyer's agent ask to get a feeling on what might fit your needs (and/or family)
I need help to create Checklist for finding good buyer agent
Here are a few things I can think of.
1) What liscense he have?
2) His experience with examples of helping previous clients?
3) Charges and commision?
4) References from prev client
5) Ready to sign non-exclusive agreement
6) How he standsout than others
7) What services he provides?
Let me know if I am missing anything.
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