You are
ready to sell your home or purchase your dream home – now how
do you find an agent?
Most
people go by word of mouth or referrals, while others chose someone who
sold a home near them or an agent they saw in the local paper. In this
article, we’re going to challenge you with some thoughts and
equip you with questions to ask that will help ensure that
you’ve chosen an ideal agent.
When
you receive a referral or select the agent you want to use, be sure
that you are not using them for any other reason then they are your
best solution. A friend, family member or a trusted referral can cost
you thousands, if the agent does not fit your needs. With the majority
of people using an agent and not being 100% satisfied, this means you
must dig harder than you normally desire and make sure you hire the
right person for the job.
We
suggest identifying three to six agents in your area. Ask them similar
questions. Listen to their responses and compare them. Then add in
other factors, such as experience, time they took to return a call, how
thoroughly they answered your questions, how intuitive they were to
your needs, how attentive their office was towards your needs and how
well they communicated. Don’t be afraid to ask for referrals.
Although an agent would likely never give you a negative referral, you
can find out the strengths of the agent by talking to their past
clients.
Here
are some questions you want to ask:
1.
Do you work full time or part time as a real estate agent?
- An
agent who cannot focus on your needs during the week will not make an
ideal agent. Most
people assume their agent is full time, but quickly find out they are
hard to reach because they
work a second job!
2.
Is your license in good standing?
- You
assume it is, but this is not always the case. Obvious questions can be
a life savor; so
ask them!
3.
How many years of experience do you have?
-Experience
is key, but even more important are results. A young agent does not
mean fewer
results, but be careful. If the agent has less experience, then make
sure you do more research
before choosing them.
4.
How would you assess the current market for selling/buying?
- An
agent that inflates the appearance of the market conditions is a sales
person, so be
careful. You want an honest opinion and not one that is full of hot air.
5.
How long have you sold homes in this area?
- An
established agent in a specific area is ideal, because they know the
market and the needs
of the buyers. This does not means someone with less experience in the
area means fewer
results, but an agent who has sold many homes in your area is a plus.
6.
How many other clients (sellers and buyers) do you represent?
- An
agent who is swamped with clients will give you less time. If their
number is excessive,
then ask details about their office, if they use assistants and how
they can meet your needs
with excessive clients. Also, watch closely, because many agents are
well organized and this
will show by calls being returned quickly and consistently, which means
the amount of clients
they have can be handled easily. Note: An agent with few clients or
none is likely to represent
a problem and not an ideal scenario for you.
7.
Will you handle all aspects of my transaction or will you delegate some
tasks to a sales associate or
administrative assistant?
- If
you work with a busy agent, a knowledgeable assistant can be invaluable
when you have
questions. Busy agents also are often the top producers in an area, but
you may not get as
much personal attention as you want.
8.
Will you give me a list of homes you sold in the last 12 months?
- The
list should contain addresses, property types, names of sellers or
buyers, list prices, sale
dates, and sale prices. If you're undecided about an agent, contact the
agent's former clients
and ask whether the agent was easy to work with, whether they feel they
got a good price and
a good contract, and whether they would use the agent again.
9.
Do you require a contract, if so terms?
- Contracts
are required by most states, so this answer is surely to be yes. What
you want to
find out are the terms in detail, when the contract ends, option to
cancel and requirements of
both parties.
10.
How much commission do you charge? What other fees are attached?
- Find
out the commission the agent is willing to negotiate. The seller pays a
majority of
commissions, but occasions exist where the buyer will charge. Although
commissions set by individual brokerages and there is NO standardized
or set fee structure, the average commission is
around 6% of the total sale price. Find out if the agent charges
additional fees or charges and
what they are for.
;)
;)
