Buying a home takes research - make sure your agent is up to it.

I often hear agents marketing as neighborhood 'experts'.  Some even say they live in the neighborhood.  
My views of my town are biased by my views of my neighbors among other things. The more friends in the neighborhood I have the more I want to help them.  That would include hoping they do well when selling their home.  So, even if I were to concede that I am a neighborhood expert - is that a benefit to a buyer I may have as a client that is interested in moving there. Unless I can really put my friendships aside (and my own interest in maintaining home values in the are where I own a home) -   I don't think so.  

So where does that leave a buyer that is interested in a particular area. I think that leaves research. Many sources are public.  Tax records will indicate whether the area has a high proportion of non-occupied housing, for example.  Many online sites provide demographic information.  School and crime information is available on many websites.  Property sales and failed sales (those that were listed but did not sell) as well as active listings are available on the MLS. Want to know (for sure) if the house you are interested in is in a particular school district?  Ask the school.  Just because an elementary school is 2 blocks away doesn't mean it is the one your child will attend.  Don't assume.

If because of friendship or relationship you have chosen to use an agent without much experience (to help them out) you are pretty much on your own when it comes to working your way through a home search. That is nice of you but if you actually NEED some help find yourself an experienced agent that can help you do the research that you need done to make the decision that is right for you.  If you find an agent that will make an unconditional written commitment to you hire them.  

Items in your agreement should include:
brokerage fees:  amount, who pays (buyer or seller or both)
Beginning and ending dates.
A provision for terminating the relationship - by either the buyer or the agent
A provision prohibiting the agent from working for you if there is a conflict of interest.

Some specific additional provisions are required by the Realtor code of ethics (if the agent is a Realtor) as shown below.
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Standard of Practice 1-13

When entering into buyer/tenant agreements, REALTORS® must advise potential clients of:

1. the REALTOR®’s company policies regarding cooperation;
   
   
2. the amount of compensation to be paid by the client;
   
   
3. the potential for additional or offsetting compensation from other brokers, from the seller or landlord, or from other parties;
   
   
4. any potential for the buyer/tenant representative to act as a disclosed dual agent, e.g. listing broker, subagent, landlord’s agent, etc., and 
   
   
5. the possibility that sellers or sellers' representatives may not treat the existence, terms, or conditions of offers as confidential unless confidentiality is required by law, regulation, or by any confidentiality agreement between the parties. (Adopted 1/93, Renumbered 1/98, Amended 1/06)

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If you are interested in my services.  Call me for additional information and an interview. After we sit down and talk for an hour or so we will know if we are a good fit for each other.  Although I will not market myself as a 'Neighborhood Expert' I am a Buyer Expert - In fact, my company ONLY works for buyers. 

Paul Howard, Broker
NJHomeBuyer.com Realty (serving South Jersey)
http://www.facebook.com/homebuyers
www.naeba.org
811 Church Rd Ste 111
Cherry Hill NJ 08002
856-488-8444