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Questions to Ask Any Agent

Woman working on computer drinking coffee.1. How long have you been in residential real estate in our area? If they have not been in local real estate for several years, they have not been involved in the cyclical market that has defined our market to date. Along with this, ask how many transactions they average per year. One agent could have been in business 10 years and have only closed 30 transactions, while another agent could have been in business 5 years, yet closed 500 plus transactions. Experience is relative to the amount of business the agent does.

2. What is your procedure for assisting a buyer from beginning to closing? Make sure that the agent has a precise plan that explains exactly how they work and how they represent only you and your best interests.

3. What is your experience with financing alternatives, and what might they be in my situation? Each buyer’s situation differs. You may have alternatives that can maximize your financial situation or preferences. Rely upon your agent to recommend trusted lenders to help you effectively navigate these options.

4. How do you determine my qualifications and when? It is important to have this done very early in the process to both ensure that no time is wasted in looking at unobtainable homes, but also to be prepared to make a strong offer at a moment’s notice thereby increasing your chances for not only finding and buying the home of your dreams.

5. How do you provide me with information on new homes for sale? Your agent should have a system that automatically updates you when new homes meeting your criteria come on the market.

6. What is your negotiating philosophy, and how do you apply it to me? This is important. Play close attention to length of time in business and how many transactions the agent does per year on average. More is better. The more transactions the agent closes, the more experience they have in negotiating for any situation that could arise.

7. How do you find the best value for me? How do you make sure it is a good value? Your agent should have systems in place to accomplish this and share that information with you.

8. How do you provide me information regarding costs that lenders, title companies, inspectors and others charge a home purchaser? It is important that the agent has relationships with companies that can offer you high-quality service and competitive charges. Though expenses can vary, your agent should be able to provide preliminary anticipated costs.

9. Can you sell new, resale or foreclosed homes? Follow up with questions about specific builders and areas.

There are many more questions to you may need to ask as this is just a sampling of common concerns. So if you have a specific question you would like answered, let us know by clicking here!