Real estate represents one of the biggest investments of your life and professional real estate agents can provide invaluable assistance during this process.
Selecting the ideal agent can help ensure you receive the best deal when searching for your next home. Ask them these important questions to identify one who fits.
1. What is your experience?
Home buying can be a long and complicated process, so having an experienced agent on board can make all the difference in successfully navigating it. Ask the agent for a list of satisfied clients you can contact directly as references for their expertise, as well as how many homes they typically close annually.
Experienced agents understand how to navigate common issues and can share tried-and-tested negotiating tactics. In addition, they may recommend mortgage brokers, inspectors, general contractors, or movers as appropriate.
Check to see if your agent is full- or part-time real estate. A full-time agent will have more time dedicated to working on your behalf, while answering this question can give you an indication of their involvement within their community.
2. What is your process?
When buying in an overly competitive market, being preapproved and submitting an attractive offer can set you apart. Ask your agent about their experience guiding clients through this process; additionally, inquire as to which tasks they personally manage as opposed to delegating to their team.
Once again, determine how many buyers and sellers they work with regularly. Too many clients may mean less time can be dedicated to each individual one of them.
Research why the seller is selling, as this will give you insight into their motivation for asking such an exorbitant asking price and their level of flexibility in accepting your offer (they could be leaving for work reasons or to move closer to family). Knowing this can help determine your offer’s initial range.
3. What are your fees?
Your agent is your partner in all aspects of home buying or selling; acting as your guide, counselor, friend and negotiator. Choose someone you can entrust who will also collaborate well with lenders, inspectors, attorneys, general contractors and any other professionals involved in the transaction process.
Real estate agent fees depend on the price of your home and may range between 5-6% of its selling price. Some agents also have referral fees which can be negotiated.
An experienced agent should be able to provide information about the neighborhood and specific properties in which you’re interested. Furthermore, they should explain market conditions that might impact your search; for instance if an area contains two-story split level homes while you want single-story ranch homes they should inform you inventory will likely be low and provide solutions accordingly.
4. What is your timeline?
A reliable real estate agent should be able to give you an accurate timeline when it comes to closing. They have a better grasp of the current market and can assist in getting all your paperwork organized so things run more efficiently.
Ask them about any possible hurdles on the horizon; this can help prepare for potential difficulties like additional documentation from lenders or any unforeseen problems at home inspections.
Finally, it’s essential to inquire as to the number of clients they currently represent. Too many clients could strain an agent’s time and attention; therefore, selecting an agent who has more of both buyers and sellers as clients ensures they can provide you with enough support throughout your journey.
5. What is your communication style?
Communication between you and a real estate agent will be essential throughout the homebuying process, so finding out their communication style can help determine if they will be suitable.
Assertive communicators are confident and direct; they often speak in a clear voice. Though they don’t monopolize conversations, assertive communicators are willing to offer their opinion while listening and considering other perspectives.
An effective agent should provide you with a list of happy clients whom you can contact for references. If the agent seems reluctant to do this, this may be a red flag. When discussing why the property is for sale, ask why and listen closely for answers such as, for instance, its owner needing to sell because of job relocation.
6. What is your communication method?
Real estate agents should communicate well with clients prior, during, and post transaction. They should pay attention to details important to buyers such as remembering children’s names or where they work; additionally they can share community knowledge such as schools, daycare options or sports facilities that might help.
Communication should take place in whatever form best meets the client’s needs, whether that means phone, email or texting. It’s advisable to set out in writing your preferred form of contact right from the beginning of a relationship.
Ask an agent for references from former clients, then call each. Furthermore, review online reviews about the brokerage or real estate agency as this can give an accurate picture of their customer satisfaction level – more satisfied customers being better! Furthermore, find out the number of buyers and sellers they represent simultaneously.
7. What is your personality?
Personality can be defined as the unique combination of thoughts, feelings and behaviors that distinguishes an individual from others. While various quizzes and tests claim to measure personality traits, psychologists generally avoid categorizing people into rigid types because personality can often encompass a constellation of characteristics rather than rigid categories.
Personality shapes both your thinking and behavior, with its effects being fairly predictable. Some individuals are known for being dutiful – taking their responsibilities seriously and following through. On the other hand, others take more spontaneous approaches to life which may leave them less punctual or having trouble finishing tasks on time. Your real estate agent should understand this aspect of you better so as to assist in an effortless transaction process.
8. What is your background?
Your background is an overview of your professional experience, such as your education, research and work experiences, awards, connections, military service, time spent overseas and volunteer work. This can provide prospective employers, clients or others a better sense of who you are and your values.
Real estate agent backgrounds offer insight into the areas they work in. For instance, if an agent seems unfamiliar with your buying location that should raise red flags. Ask the agent what homes they’ve sold there in the past and their selling prices; this information can help avoid bidding wars or overpaying when making offers on homes for sale; additionally it could shed some light on why sellers might need to sell quickly or why they may have chosen to sell in particular circumstances.
9. What is your communication style?
LaFave highlights that many external influences can impact this question; gender being one such influencer: Men tend to be seen as more assertive while women can sometimes be misconstrued as aggressive.
Real estate agents who effectively communicate are clear in their communication while upholding others’ rights or dignity. Manipulative communicators use deceitful tactics to get what they want without anyone knowing.
Questioning an agent about how they handle client communication styles is an excellent way to see if their personality and approach align with yours; otherwise it could indicate they may not be suitable. Make sure you also inquire as to their preferred communication method — most consumers prefer phone or text while agents tend to prefer email — as well as how the agent is compensated for their services.
10. What is your experience?
Your agent can also recommend mortgage brokers, inspectors, real estate lawyers and general contractors who will make the process much smoother by making sure all documents are signed correctly and expediting any closing processes that may arise.
As part of your agent selection process, be sure to inquire as to their length of experience in buying and selling homes over time. An agent with proven success in doing both may be better equipped to guide your decision making.
Question your agent on what sets them apart. This could include their extensive knowledge of certain neighborhoods, negotiation style or innovative marketing strategy. Also be sure to request their list of past clients that you can reach out to; doing this will give an indication of their professionalism and service delivery.