Buyers: It is a good idea to have a REALTOR® representing you when you purchase a home. True, you can search for homes online and even view homes with the listing agent or the seller, but a REALTOR® can help you to navigate the often tricky waters of negotiation, inspections and legal aspects of a real estate contract, especially if you are a first-time homebuyer.
Here is a list of things you should ask your Buyer Agent. Of course, this list is not complete - you will have questions of your own that you might want to ask - but it's a good start! Your REALTOR®'s answers may affect you differently than they would affect another buyer. There are no "right" or "wrong" answers to these questions. However, they are answers that you should have to determine how comfortable you are personally with your potential REALTOR®.
1. Are you a REALTOR®? Not all real estate agents are REALTORS®. A REALTOR® is a member of the National Association of REALTORS® and is honor-bound to follow a strict code of ethics. Real estate agents who are not REALTORS® are not governed by this code of ethics.
2. Do you work with mainly Buyers, or do you also work with Sellers?
3. If you show me one of your listings and I decide I want to make an offer, how will you handle that situation? When one agent handles both sides of a transaction, this is known as "dual agency." Each brokerage has its own policies for dual agency situations, and it's a good idea to know what they are.
4. Will you show me properties that offer a lower-than-average commission? Sometimes foreclosure properties may offer lower-than-average commissions, and sometimes sellers instruct agents to offer lower-than-average commissions.
5. How well do you know the area in which I want to buy a home? How many clients have you shown properties to in this area? How many homes have you sold in this area? You want to make sure that you are using an agent who not only appeals to you personally, but who also knows the area in which you are interested in buying.
6. How many active buyers are you working with right now? This can vary by agent. It doesn't necessarily matter for you to be their only actively-looking client - you just want to make sure that you are as much of a priority as other clients. Many REALTORS® can be quite good at juggling multiple clients. It's just a good idea to ask!
7. Do I need to sign a Buyer Brokerage Agreement with you? A Buyer Brokerage Agreement is an important tool that helps protect both you and your REALTOR® - for more information on how it does this, please click here.
8. What professional or community organizations do you belong to? Oftentimes, knowing your REALTOR®'s community and professional involvement can help you determine what strengths she has and whether her values are in line with your own. This is important to some, not so important to others.
9. Have you earned any professional designations? If so, what are they? Professional designations are a sign that your REALTOR® has taken additional coursework - often extensive educational committment - above and beyond the initial real estate license test. This can show a dedication to her career and profession.
10. How much of your business is from referred clients? Meaning, how often are your customers so happy with your service that they give your name to family and friends. Many REALTORS®, including The Gebhardt Group, pride themselves on being referral-based business, which makes a high level of client service the most important part of the job!
This list is by no means conclusive, but it should put you on track to asking your Buyer Agent questions that will help you to get to know how she works and whether or not you want to work with her.
There are also a number of questions that your potential REALTOR may ask you before you start to work together. Click here for some of those questions, so you can be prepared!
And for more information about buying or selling a home in Johns Creek or elsewhere in the North Metro Atlanta area, please call The Gebhardt Group today!
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Maura Neill, ABR, CRS, MA
The Gebhardt Group
RE/MAX Greater Atlanta
10220 Medlock Bridge Road
Johns Creek, GA 30097
(770) 238-0595
email: Maura@GebhardtGroup.com
website: http://www.GebhardtGroup.com/
blog: http://www.GebhardtGroupBlog.com/
Very good questions.