If you're ready to buy a home, you should feel empowered to find and work with the agent who is the best fit for your needs. Here are ten questions you should consider when selecting an agent: I, Mark Bolender am happy to go over these questions and answers with you if you need my help.
- Are you a REALTOR®?
When you work with an agent who is a REALTOR®, you are working with a professional guided by ethical duties under the REALTOR® Code of Ethics, including the pledge to protect and promote the interests of their clients.
- What types of services can you provide me?
Agents may offer many services, such as finding homes that meet your criteria, accompanying you to showings, sharing their analysis of the market and available properties, negotiating on your behalf, and more.
- How well do you know the markets where I am searching for a home?
Your agent must be licensed when you buy a home. However, they should also have the market knowledge to help you successfully find a home where you are searching.
- Do you have experience working with buyers in my situation?
Many agents specialize in working with certain types of buyers, such as first-time buyers and veterans. Some, like Mark Bolender, also earn the Accredited Buyer's Representative designation to gain specialized skills in working with buyers.
Ask your prospective agent about their experience and any designations or certifications they have earned related to working with buyers like you.
- Can you tell me about your approach to scouting properties?
Agents and brokerages nationwide have different business models and use and provide various technologies, tools, and resources to inform their search process. Please discuss with your prospective agent how their unique approach will help you find the right home.
- What will be included in our written buyer agreement?
Once you are working with your agent and before you tour a home together, your agent may be required to enter into a written buyer agreement outlining the services the agent will provide you and what they will be paid for those services. These agreements are entirely negotiable.
- How long will we work together?
Tell your prospective agent how long you would like to work together and ensure you feel comfortable with that arrangement. This term could be set out in your written buyer agreement, not to exceed 3 months and less than 90 days.
- What are my options for paying you?
Agent compensation is entirely negotiable and can take many forms, such as a flat fee, a percentage of the purchase price, or an hourly fee. The written buyer agreement will contain the amount of compensation you agree on. You can also ask the seller to pay your broker's salary as part of your purchase offer, or, in cases where a seller offers a concession, you may be able to use the funds to pay your broker for the value and services they provided you.
- Can you recommend service providers who can help me obtain a mortgage, make home repairs, or support other closing tasks?
Your prospective agent may have prior experience or trusted relationships with providers in the area where you are purchasing a home and can be an excellent resource for facilitating these introductions.
- Do you have references I can speak with?
Many agents will be happy to connect you with satisfied clients they have previously worked with who can speak to their experience.
Practices may vary based on state and local law. Consult your real estate professional and/or consult an attorney for details about state law where you are purchasing a home.
