How to Pick a Qualified Real Estate Agent When Buying a Home

Written by Posted On Friday, 30 June 2017 11:31

Whether you’re buying your first home or trading up, you need a qualified real estate agent who knows homes and knows the area. You should be comfortable working with your real estate agent. They should feel comfortable with you.

Sure, but how do you pick the best possible agent out of the estimated 2 million in the U.S.? There’s only one way. Ask questions about their qualifications and experience. It’s a good idea to talk to more than one real estate agent, just like you’d talk to more than one accountant or doctor before making a decision about which one to go with.

Here are nine questions to ask.

man researching on computer

  1. Research Their Current Listings

While not a question for your prospective real estate agent, researching their current listings before talking to them is important. Most real estate agents have extensive online presences. Get a sense of how many listings they have. Examine what types of houses and which neighborhoods they specialize in.

If possible, look at the differences between asking and closing prices and how quickly real estate sold. This can give you a sense of how well a real estate agent negotiates.

  1. Ask for References

Ask your real estate agent candidates for references. It’s a very good idea to talk with past clients. They should be happy to give you this information.

Ask if the real estate agent gave good advice. Were they accessible and convenient to reach? Were they good negotiators? Was a fair price achieved? Was the experience overall a good one?

  1. Find Out Their Specialties and Neighborhoods

When you talk to a real estate agent, find out their specialties and neighborhoods. Some may concentrate on high end neighborhoods and not know much about starter homes. Some may concentrate more on sellers than on buyers.

You need to know this before choosing a real estate agent who may be experienced as an agent, but not in the types of homes or the neighborhood(s) you’re looking in.

  1. Ask About Their Experience

You want a solid, seasoned real estate agent. Less than five years’ experience means they are still in the learning stages. This can affect everything, from their knowledge base to their negotiating ability. Check to see if they work part time. Many real estate agents do. This cuts into the experience they can gain in an average year. It may also make them less committed to the job.

Check into their experience, again, in the type of homes and neighborhoods you are looking for. They may be seasoned, but have recently moved themselves. You want expertise in the housing type and area(s) for you.

colorful neighborhood townhomes

  1. Develop Questions About the Neighborhoods

About those neighborhoods…develop questions about them. School district reputation, safety statistics, parks, property taxes, selling prices and how long on the market are all fair game. Why? Well, first, you want to know facts about all those categories, of course.

But second, you want to know that real estate agents know their stuff. An excellent real estate agent should be knowledgeable enough to reel these off without checking a sheet. If you’ve found one who can do that, you may have found a keeper!

  1. Check Training and Licensing

A top quality real estate agent will continually develop their knowledge. They will participate in training and credentialing to stay on top of the ever-changing real estate market. Ask about any training they have undergone and any credentials they have.

Most state boards license real estate agents. Check into any licensing they may have.

  1. Explore Their Status with Peers

Real estate agents often work in networks, with multiple listings. Check into their status with peers. If someone wins Realtor of the Year, for example, is a sign that their peers voted for them. A realtors, by the way, is a trademark created by the National Association of Realtors. It isn’t synonymous with “real estate agent,” although many agents are realtors.

  1. Ask About Asking Versus Selling Prices

The price you can obtain a house for is for crucial important to you, of course. You want a real estate agent you can negotiate well. So focus especially on the asking versus closing prices in your key neighborhoods. Did buyers get a good deal?

The real estate agent should be able to talk about what went into the negotiations. If houses sold for under the asking price, it could have been motivated seller (had to move for another job, say), the home’s condition or market forces. Supply and demand and the general economic picture of a region can affect home prices tremendously. Your agent should be able to speak knowledgeably about all of these.

  1. Get Their Preferred Vendor List

An experienced and respected real estate agent will likely work with vendors whose goods and services are associated with buying a home. You will need an experienced home inspector, for example. They may have suggestions for lenders, construction contractors, house painters….The list is potentially endless. Knowing these can save you time, money and heartache. But for choosing a real estate agent, you are checking into their knowledge base.

If an experienced real estate agent doesn’t have a list of preferred vendors, it could be a red flag. They aren’t looking out for the best interests of buyers.

Choosing a real estate agent is a big decision and shouldn’t be undertaken lightly. Everything from your purchase price to the condition of your home can be affected. Be sure to follow these nine steps to find the best real estate agent for you.

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Megan Wild

Hey there! I'm Megan, I'm a home improvement writer, blogger, and real estate investor and observer. Check out my posts for housing trends and latest happenings in U.S. and Pennsylvania!

www.yourwildhome.com

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