BUYERS GUIDE TO CHOOSING AN AGENT

 

 

 

 

1.         Do you work as a full-time salesperson?

 

1.         This is critical only if the agent is not a seri­ous professional. There are a number of agents in the business whom we call "Per­petual Participants" and who are mainly in the business to close a deal once in a while and socialize with other agents. Some part-time people are very good agents and pro­ducers.

 

 

 

 

2.         How long have you been a real estate agent?

 

2.         Again, some people prove themselves very quickly; however, you do want some experi­ence. Consider this with the next seven questions for a better overall picture.

 

 

 

3.         What special training have you had?

 

3.         Find out if the agent has continued leaning and improving him-/herself since becoming licensed.

 

 

 

4.         Are you a Realtors or a Realtor Associate (a member of the National Association of Realtor, NAR)?

 

4.         The Realtor® designation signifies that the agent is a member in good standing with the NAR and, further, that agent has agreed to abide by the ethics and professional stan­dards established by that organization. Membership in this organization is voluntary. If the agent you are interviewing is not a Realtor® or a Realtor® Associate, ask why.

 

 

 

5.         What special designations do you possess?

( for example, GRI (Graduate Realtor Institute) or GRS (Certified Residential Specialist)?

 

5.         Certain designations indicate that the agent has completed certain training and/or has completed training and a specified number of closed transactions. Both (3131 and CR5 are excellent designations but do not in them­selves ensure that you are picking the right agent.

 

 

 

6.         How many homes have you sold and closed over the past six months? How many were your listings that sold by other agents, and how many have you actually sold yourself?

 

6.         Good production agents should have a mini­mum of two to four sales per month (includ­ing their listings that have sold). Some agents will have as many as ten to 12 per month. Some agents are primarily listing agents. You need a good buyers' agent. They may take and sell lots of listings, but seldom work directly with a buyer.

 

 

 

7.         Do you have a full-time team of affiliates with whom you work consistently who will see that no details are missed?

 

7.         Can the agent recommend a good escrow/closing person, a competent lender, etc.? Why are these people the best to work with?

 

 

 

8.         How will we progress from today forward if we decide to work with you?

 

8.         Competent agents will suggest that you be formally prequalified and spend a great deal of time identifying what you want and need in a home before they ever begin showing you properties. If they want to throw you in a car and start driving around immediately, for­get it Find another agent who knows what he or she should be doing.

 

 

9.         Do you belong to the Multiple Listing Ser­vice (MLS)?

 

9.         This is very important. Unless there is no MIS available in your area, walk away from an agent who does not belong. Almost all listings in the area are in the MIS.

 

 

 

10.       Do you have suggestions as to howl might save money on fees and closing costs when I buy my home?

 

10.       Pay close attention. If the agent has no sug­gestions, you will have a few for him or her. (Remember, Chapter 20 deals with ways to save money when buying a home.)

 

 

 

11.       How much time each week can we expect that you will be able to spend finding and showing us homes?

 

11.       Six to ten homes or more would not be unreasonable to expect an agent to show you. An honest agent may tell you truthfully that he or she doesn't have that much time. Thank the person and find another agent

 

 

 

12.       Will you preview homes prior to our viewing the properties? If not, do you keep a record of the homes you have seen on caravans and broker open houses (brokers' opens)?

 

12.       If an agent is too busy to preview homes, how will he or she know if you are looking at homes in which you will be interested? If an agent does not attend "brokers' opens" and caravan tours" of homes each week, he or she probably does not see enough homes to serve your needs as a discerning buyer.

 

 

 

 

13.       Why do you feel you and your company would be the best for us to work with in the purchase of our home?

 

13.       Remember, whatever people are selling, they should be able to sell themselves first.

 

 

 

 

14.       May I have a list of references of people with whom you have worked to purchase a home in the past three to six months, and may I contact a couple of those people if I choose to?

 

14.       If agents won't give you references, get rid of them! If they will give you only a couple of names, ask why. If an agent is new and does not have many real estate references and you still would like to work with him or her, ask for personal references.