Our current real estate market is full of opportunities, but without the right agent, you’re at a huge disadvantage. Realtors come from all sorts of backgrounds, and each has their own specialties. Some have whit, personality and are great communicators, which makes them great sales reps. Others have financial and risk analysis backgrounds which makes them keen investor agents. (Some teams have one of both.)
However, the industry is ripe with new agents, part-time agents, and people who are “trying it on” as a career. If you were investing $900,000 with an investor, you wouldn’t go with a part-time stock broker. So, when hiring a buyer’s agent, use the same due diligence.
9 Questions To Ask When Hiring A Buyer’s Agent
Everyone deserves the extraordinary, because luxury is not about price point, it’s about an experience. And when it comes to real estate, experience matters.
1. What communities do you focus in?
It should come as no surprise, a local buyer’s agent can guide you better than anyone else when looking to settle into a new home. They know the best streets, the worst streets and everything from schools to drycleaners. You’d be surprised how home values can change within a neighborhood from street to street. Sometimes a single street in a block will consistently have below-average sale prices, while another has consistently high sale prices. You want that kind of insight when you’re buying a home.
2. What type of sales do you specialize in?
Most agents are capable of navigating condos and freehold homes, but inexperienced agents can quickly find themselves over their heads when showing any type of specialty property. With rural properties, agents must be knowledgable with septic tanks, well water, geothermal or propane heating, zoning, conservation and other facets that they rarely encounter in the city or suburbs. (We’ve sold them all).
3. What is your buyer’s process?
An experienced buyer’s agent will help you set up a timeline for your move. From the moment they meet you, they want to educate you to get you to the point where you are ready to make an informed purchase, which is followed by a smooth closing. They know how to educate you on the value of homes and areas. We personally believe you’re not ready, and we haven’t done our job, until you’re able to walk through the threshold of a home and know that it’s a good deal, and it will suit you for the next few years.
4. What happens if you’re unavailable for showings or offers?
Even full-time agents will sometimes have days where they are unavailable to accommodate showings or worse, an offer. Business ebbs and flows, but when it flows, it floods… which is why so many agents team up with another agent in their office and combined their marketing efforts and sales.
Teams are quickly becoming an industry trend, but make sure you hire a functional team. Some teams are just a marketing ploy in an effort to keep up with actual industry leaders.
5. What’s your negotiation style?
The way the buyer’s agent answers this question will tell you a lot about how they carry themselves when negotiating offers on your behalf. We think you need to hire someone adaptable.
6. Will you tell me if my expectations are unrealistic?
Every agent wants to find you the exact home you want, in your price range, but sometimes you need tough love. If you cannot afford that 4-bedroom home with a family room and 2 car parking, and the market is appreciating every month (the home is becoming more and more unreachable), you want someone to guide you into something else. Nothing is worse than realizing after 6 months that you can no longer afford to get into the market because you didn’t settle a when you should have.
7. Do you have references I can call?
There are two types of agents in this industry: Successful agents and secret agents. Secret agents are the ones you cannot find online, and who have no testimonials. You want someone who honestly provides their testimonials over a service like a Google Business Page. Another way to confirm whether an agent’s testimonials are authentic is to ask if you can give their past clients a call.
We work on referral, and we explain that to every client we meet. We tell them that we are going to give them our best possible service, so that they will use us again and also refer their friends and family. The expectation is set, that they can keep in touch for anything they may need, from handymen to real estate tax advice. Most of our clients will happily speak to anyone thinking of using our team.
8. What drives you to work in real estate?
If you hire someone with passion, you will enjoy the buying process much more. While buying a home can seem stressful, it’s actually often a very exciting time for many families. There is a certain
9. Does this agent look like a real estate agent?
We’re taught not to judge a book by it’s cover, but when it comes to dealing with a major purchase, it’s important to be sure you’re working with a professional. Most agents don’t wear suits everyday, like the previous generations. But, agents are still expected to dress smart, carry themselves well, and show up on time!
