Eight Questions For Your Agent

Here is a list of questions to ask any agent you are considering for the job. More importantly, I have some tips on how to assess the answers you get.

Tip: You are looking for an agent who insists on sitting down for a buyer consultation with you. The purpose of a buyer consultation is to help your agent understand what is most important to you. For most people, this goes beyond how many bedrooms and bathrooms you want in a home. At this stage, you'll want to discuss why you would like to move, how to come up with a budget and anything that might be worrying you. You will also want to discuss your short and long term plans.

What you don't want to hear is something along these lines: just call me up when you are ready, let me know what neighbourhoods you're interested in, how many bedrooms and bathrooms you need and we can head out and start looking at homes. This answer is typical of a rookie or sales-focused agent. Avoid both and find yourself a professional agent who serves as a knowledgeable consultant.

2. What are you looking for when we look at homes together?

Tip: You want to make sure that your agent can assess the condition of a home. Remember, this is a discussion, not a test. An agent does not have to mention every physical feature belonging to a particular home, and is unlikely to. No agent should be expected to do the work of a professional home inspector. But a good agent will mention at least a few key items, signalling to you that they are professional about evaluating homes.

3. Why should I confine myself to working with just one agent?

Tip: You may hear a lot of vague comments about extra service in response to this question, but any agent should be able to clearly explain to you the benefits of Buyer Agency. If you find that after reading our Homebuyers' Guide, your knowledge is better than that of the agents you are speaking to, it's probably not a very good sign.

4. If I would like to work with many agents, would you still be willing to work with me?

Tip: This question separates the professional consultant who values their work from the amateur who is willing to take any opportunity to potentially close a deal. We like agents who say NO. This may seem to work against the HomeBuyer, but the opposite is true. A good consultant providing you with a high value service asks for your loyalty in exchange. Agents who take pride in what they do and value the service they offer their clients choose to work under mutually beneficial conditions. You should be wary of a sales-focused agent who is too eager to work with you under less than reasonable conditions.

5. How do I pay for your services?

Tip: What you don't want to hear is some less than upfront story about buyer agents working for free. We know better. Buyer agents should be able to explain that their commissions are paid by HomeSellers (who in turn pass on some of this cost to Homebuyers through home prices). You want to be able to have a frank discussion about the compensation that will be earned by any agent you decide to work with.

6. What happens when you are not available to work with me?

Tip: Your aim is to understand how an agent manages even brief periods of unavailability. Answers such as "I'm always available" just don't cut it. After all, many dream houses have been found unexpectedly, so being able to act quickly is not something you want to leave to chance. What you want to hear is that the agent partners up or is associated with another agent who can act as backup. An agent should be able to explain this arrangement clearly to you and provide you with appropriate contact information.

7. Once I find a home I would like to purchase, would you be comfortable giving me your market valuation of that home in writing?

Tip: You want an agent's home valuation or Comparative Market Analysis in writing because you want to have a record of the advice that she is giving you, allowing you to hold them accountable for this advice. Real professionals will not have a problem with this. If the agent you are interviewing gives you some excuse as to why they do not feel comfortable doing this, it is up to you to decide if you want to work with someone who does not appear to have full confidence in their abilities.

8. Give me two examples of how you have helped HomeBuyers save money on their purchase?

Tip: A good agent should be able to share a couple of good, detailed stories about how he was able to save a client some money. If the agent you are talking to can't, you might wonder if saving your money is high on his list of priorities.

David Waters, Sales Representative
RE/MAX Real Estate Centre Inc.
115 First Street
Orangeville, ON
(519) 942-8700
www.davidwaters.ca

www.SearchOrangevilleHomes.com