The real estate agent you choose can make or break your home buying experience. In this post, we'll highlight five questions you should ask a potential real estate agent to ensure the best service quality possible.
1. What are your credentials?
Asking this question ensures that your agent is currently licensed and is in good standing. His or her experience in the real estate world is crucial to success in buying or selling a home. All agents are required to have a state license, but agents who are a part of the National Association of Realtors are required to abide by a higher ethics law. Look for an agent who is well versed, readily available, transparent, eager to work with you, and has a high success rate.
2. Are you comfortable closing a short sale or bank owned home?
When dealing with distressed properties, often an agent will become less eager to close on the property and steer you towards another deal. More complicated paperwork and higher liability might be a turn off property appeal, however, an experienced real estate agent is efficient, transparent, and knows how to work with the bank to get your transaction closed in a timely matter.
3. How can you help me afford the home I want?
Your real estate agent should be well versed in how mortgages work, the current interest rates, and other financing and refinancing options. He or she should be able to provide you with realistic options to purchase the home of your dreams.
4. What are your commission and fees?
Most real estate agents work purely on commissions from the sale. When a homeowner sells a home, they pay a real estate agent a commission and closing fee. This listing agent’s commission is usually about 6% of the sale price. The listing agent then shares her commission with the buyer’s agent. For helping you buy a home, your agent will receive about 3-4% of the sale price. Some agents offer discounted commissions, rebates, or flat-fees for their services. Cheaper may not be better: a discounted real estate agent may not work as hard to help you find the best home.
5. What is your marketing plan?
Some questions to ask include: How will you search for my new home? How many homes am I likely to tour before I find a home I want to buy? How do you handle multiple offers? Where and how often do you advertise? Specifically, how will you sell my home? Are you on the MLS? How do you market online? Such questions ensure you are aware of the entire home buying and selling process and that you are comfortable and satisfied with the work your Realtor is doing to buy or sell a home.
If you are looking for an agent to represent you in Southern Idaho or Utah, contact Cornerstone Real Estate Professionals.
office@utahcornerstone.com
435-787-8683
for more information about hiring an agent visit
http://blog.redfin.com/blog/2008/05/15_questions_to_ask_when_hiring_a_real_estate_agent.html#.UnGDSfmThjk
http://www.credit.com/life_stages/buying_house/Five-Questions-to-Ask-Your-Real-Estate-Agent.jsp
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