Before choosing your real estate agent, you must learn more about their services and the value they can bring you through their work.
Many buyers continue to make mistakes in selecting unqualified real estate agents, and this can slow down the purchase process and lead to them spending far more money than they had originally planned on their new property. To help you avoid these mistakes, we’re highlighting six questions to ask before choosing your real estate agent, in this latest post.
1. What is Your Industry Experience?
The experience of the agent in completing deals for their clients is of the utmost importance. Are they able to explain their experience and how they’ve developed their understanding of the industry over the years? Another important consideration is local experience. Do they know the local marketplace and have they helped others buy homes in the area before? This can be a decisive element in helping you find the ideal property for your family.
2. Will You Speak Directly with the Sellers?
When booking the services of a real estate agent, it’s imperative that you know the types of service they offer for their fee. They should be able to help you negotiate with the seller and the seller’s agent to complete the property transaction. Find out more on their working process. Do they offer guidance during the purchase phase or will they negotiate on your behalf and then inform you when negotiations are concluded?
3. What is the Timeline for the Purchase?
When working with your real estate agent, ask them for an approximate timeline for the completion of the home purchase. This will help you to determine your next steps and ensure that your family is prepared to wait for a specific period of time before the purchase is completed.
4. Can You Provide a CMA?
A CMA or Comparative Market Assessment is an important tool for buyers entering a new marketplace. It can help you to determine the value of a target home and to secure a property that offers a lasting return for your investment over the years. The real estate agent you select should have significant experience completing CMAs for their clients. They should be able to highlight the market conditions and give you a full understanding on where potential opportunities might arise for you in your target market.
5. Do You Work as Part of a Team?
When buying a home, you should know how many people are going to be working on the deal for you. If the professional is operating as part of a larger real estate team, you should work to learn more on their team and their experience in the marketplace. Sometimes homebuyers make the mistake of trusting their needs to a professional, only to find that less qualified team members take on the majority of the work. Get full confirmation from your prospective agent before you move forward and choose their services.
6. What are the Fees I Will Pay?
The fees you pay for the completion of your home purchase vary depending on the contract you have with your agent. But you should ensure you have a full understanding on the total cost of their work. Make sure that your financials are set out in writing before confirming the agreement. Then you’ll be able to move forward comfortably with a clearer knowledge on your purchase budget.
By following the questions in this post, you can secure the ideal agent for your home purchase. Remember to document as much of the information provided as possible and commit to researching the agent’s history before signing any agreements.