Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
There are buyer's agents who don't work for brokerages that sell property. Right out of the gate, you're going to see less conflict of interest in that population than from agents who work at brokerages that both buy and sell properties. See here for a better explanation: Exclusive buyer agent - Wikipedia, the free encyclopedia
Of course, the qualifying questions listed above are excellent and you'd still want to screen using them.
In markets with a wide range of brokerages, I'd be leery of any agent who's helped buy a significantly higher percentage of homes sold by his/her own brokerage. That means they're steering their clients to "in house" deals, so they can get an extra bonus from the brokerage.
Also, ask them about how your local market is doing. If they reply it's trending down, ask them how they feel about that. Some agents want to "protect" prices in their area. That's all well and good, but not if you're hiring them to negotiate the best price for you.
If they tell you the market is stable, "not that bad" or other neutral to happy news, do your own homework to confirm what they claim. If the stories match, terrific. But if they're painting a rosier picture than published data suggests, they're already not leveling with you on where prices are going and therefore, what types of prices you can expect them to help you negotiate.
Sorry to agents on here for advising from the negative side-- I know a lot of you on here are top notch. Finding more like you should be easier!
Thank you to Brandon Hoffman, that's a really good list of questions. Also cohdane for pointing out some viewpoints that I hadn't thought of. I appreciate all the first-hand experiences from those who have been through it. I didn't even know about Buyer's Agents before, so I'm learning.
There are buyer's agents who don't work for brokerages that sell property. Right out of the gate, you're going to see less conflict of interest in that population than from agents who work at brokerages that both buy and sell properties. See here for a better explanation: Exclusive buyer agent - Wikipedia, the free encyclopedia
....
Sorry to agents on here for advising from the negative side-- I know a lot of you on here are top notch. Finding more like you should be easier!
No, those are good points. I don't like the idea of "just" being a buyer agent. I think agents who list a lot of properties actually better understand market trends and buyer activity based on how their showings and lead generation is going. Agents working with both sellers and buyers are also more likely to be well rounded in their knowledge.
You're right about market trends. Agents should be able to tell you how their market is doing. Somehow, mine has actually had an increase in average price ytd. I can't tell how, but go figure?
If I am representing a buyer and they buy a home that is listed through my agency I do NOT get a bonus. Of course, that would have to be a listing that another agent in my office had because, as I said, I do not do dual agency. But there is no bonus. I don't know of any other agencies around Knoxville that offer bonuses if that happens. I'm thinking that is against TN law.
No, those are good points. I don't like the idea of "just" being a buyer agent. I think agents who list a lot of properties actually better understand market trends and buyer activity based on how their showings and lead generation is going. Agents working with both sellers and buyers are also more likely to be well rounded in their knowledge.
You're right about market trends. Agents should be able to tell you how their market is doing. Somehow, mine has actually had an increase in average price ytd. I can't tell how, but go figure?
I absolutely agree. If you understand how to sell and buy a property you have that much more knowledge than someone that just represents buyers.
I spoke to a few real estate agents in my area before making my decision. Some people sounded nice, but then didn't actually listen top what I was saying. My agent really understands what I am looking for and is always available for me. He is open to communication via phone, text, or email and always responds promptly. Even though I see him take other calls whenever we get in our cars to go to the next place, I feel like I am his only client. He takes me to see whatever listings I email him from realtor.com and he also searches for things similar to what I am looking at. He knows what my boyfriend and I prefer and he has done a really good job of finding similar properties for us to look at. He also knows the area really well and has advised us on schools, taxes, resale values, recent depreciation, etc. I think open communication is the best quality to look for in a realtor next to total knowledge of the area. I hope this helps when deciding on your agent.
PS.. I still have one lady that constantly emails me listings in a town I have told her multiple times that I am not interested in due to poor resale values (most of the town is in a very bad flood zone, that makes national headlines when it does flood). She keeps trying to convince me to come look at some of the houses.
I agree with Brandon. When you work with both sellers and buyers, you have a better finger on the pulse of both populations, which can only be helpful to the buyer if the agent is working with them.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
