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How do you choose a real estate agent? I am embarking on my first home buying experience. I know a little about the process just from the research I have done. But I am unclear as to how to pick an agent. What qualifications do I look for? What questions do I ask? What things do I need to look out for? Do I just go to sevaral agents and pick the best one? How do I protect myself from dishonest agents? This process reminds me of buying a car. You never know what the car salesman is really trying to pull. It's so overwhelming to me that I find myself dragging my feet.
Do you know anyone who recently used a real estate agent? Ask them their opinion of their agent (good or bad will help you.)
DO an internet search and contact each of the agents that have websites ranking on the first two or three pages of results (I say two-three pages because sometimes and agent will have four or five spots on a page all to themselves due to good internet marketing.) If the agent isn't on the first three pages I would then cross them off.
Of the ones you contact, which ones responded first? Which ones are most professional? Talk to them on the phone, meet with them in person.
Pick whichever one you feel most comfortable with. Do not sign a long term buyer's agency commitment with anyone until you are satisfied that they are competent and will do a good job for you. If they insist on a buyer agency agreement tell them you will sign but only for one day and for the properties they show you that day. If you are a good fit then you can continue the relationship. If not, you can move on to another agent.
Personal referrals are probably the best way to go - find someone that someone you know and trust likes and start there.
Ethyl,
My buyer agency agreements all include, "Either party may terminate this agreement at any time prior to location of a suitable property."
As it should be.
Make a list of what you want from an agent, and that will help you focus.
Think how the agent will bring you value.
I am a house/construction type of guy.
Some agents are house/decorating types, and defer property condition questions to inspectors.
Some agents are neither, yet also very knowledgeable about local neighborhoods and markets, as we all should be.
Some agents really only are drivers and lockbox openers. Unfortunately...
Think about the type that may be your best fit.
Your agent is your guide in the purchase. Any worthwhile agent should be able to discuss the process from viewing through offer, contract, contract to close, and closing and possession clearly for you.
Again, list your expectations, even though you are new at this, and as you get into it, you will learn how your expectations will be met, and if some of them are unrealistic.
Since you are a first timer an agent that takes the time to answer your question is number one in my opinion. You will have a million questions...make sure an agent can answer them.
1) I agree with Karen. Ask for referrals first.
2) If you don't find someone you like then google "real estate blogs your town" and read some local real estate agents blogs. See if anyone jumps out at you as someone you might like.
3) I use buyer agency agreements, BUT buyers come out with me for a day while they evaluate me. I don't require they sign them before we head out. I respect that buyers need to determine if I am the right agent for them. They don't have to be a bad or scary thing.
4) Ask your buyer agent to give you references for past clients and CALL them. Ask about the pros and cons of working with that agent.
5) Hire an agent that isn't too busy. You will need a lot of time because you are a first timer. Hire an agent that is moderately busy so they have plenty of time for you.
6) You can protect yourself from dishonest agents by going with your hibbie jeebie meter. Not all "top producers" are good agents. Listen to your "people picker" as MAM likes to say.
7) Ask agents some basic financing questions. If you are doing an FHA loan ask them what types of things make the home not qualify for FHA. If they can't answer that, move on. Ask the agent what the average home price, days on the market, and current inventory are for your area. If they can't answer that question with an approximation (ie around 11 months or so), then move on. You want an agent that understands basic financing issues in this market, good market knowledge and trending, and how to evaluate home condition for financing. You will want an agent that educates themselves about real estate because you aren't.
Smiley perky people are not always the best agents. Don't get off track by a good personality with little brains.
I bought 30 homes and sold 29 before becoming licensed. The best relationships I had were with agents who specialized in an area....in other words, they did not try to be all things, in all places, to all people. This is the way I run my own business, now.
As an aside, business references are a funny thing. No one, in any field, gives out references who are not likely to give them a glowing report.
I rarely have the opportunity to work with first time home buyers because of the price point in my area. Regardless, first time or tenth time, I start the relationship with a counseling session, either in my office or preferably at the client's home, if possible and practical.
This session provides all parties with the opportunity to get to know each other and the process of buying and closing, before hitting the road to look at houses.
Personal references are much like the testimonials that agents put on their sites. Do you think they're gonna put up one that says "Wish she had been more prompt in returning calls, would have been nice if she had showed us the houses we wanted to see, but hey. At least she didn't screw up the final contract like she did the first three..." LOL
I will have to ask someone out there too....since I am **** out of luck with 2 realtors now..........trying to sell our house. It went from bad to worse.
PS. Stay away from realtors who want you to do a short sale *even though you don't need to!* just to make a quick sale!@
Stay away from people who are NOT computer saavy or literate!!ay ay ay!
If C21 ( a fellow poster here) was in my area I would send her to everyone in the 50 states!
Watch out for realtors like mine who are in the Millionaires Club--who have sold a whopping 2 houses to make her in that club! LOL..NJ is expensive so 2 homes for 1 million is not much to write home about!
There are good realtors out there.. I just haven't found mine yet!! I have had the worst luck.
Personal references are much like the testimonials that agents put on their sites. Do you think they're gonna put up one that says "Wish she had been more prompt in returning calls, would have been nice if she had showed us the houses we wanted to see, but hey. At least she didn't screw up the final contract like she did the first three..." LOL
I don't disagree with this, but if they can give you 10 names of clients that are willing to talk to you, then they were able to perform well at least 10 times.
Every agent is going to have at least a couple of clients that aren't going to give them a glowing recommendation. It's how we agents all learn which clients we work the best with and ones that don't work well with us.
How do you choose a real estate agent? I am embarking on my first home buying experience. I know a little about the process just from the research I have done. But I am unclear as to how to pick an agent. What qualifications do I look for? What questions do I ask? What things do I need to look out for? Do I just go to sevaral agents and pick the best one? How do I protect myself from dishonest agents? This process reminds me of buying a car. You never know what the car salesman is really trying to pull. It's so overwhelming to me that I find myself dragging my feet.
Ethyl, you've received a lot of great advice here from very knowledgeable agents about evaluating a buyer agent to assist you as a first time home buyer. Something else to consider would be to look for an agent who only specializes in buyer representation - just throwing that out there as another consideration to ponder. Best of luck.
Hey, thanks for all of the good advice. I will definately take it all into consideration. And I thought buying a new car was hard!!?? HAHA!
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