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What Should I Ask When Hiring a Real Estate Agent?
- Are you a “full-time” real estate agent? An active agent is more likely to be up-to-date on the market and the law.
- How many homes have you sold in the neighborhood’s I am interested in? An agent who knows the local market will also know of recent deals in the neighborhoods.
- What is your fee? The seller pays the buyer’s agent using the money you pay for the house, usually 3% of the sales price. Some agents will refund part of this fee.
- Do you represent buyers and sellers on the same property? No agent can fairly represent both parties. It is best to have the agent on your side only.
- When am I committed to working with you? Many consumers begin touring properties with an agent and don’t realize this can obligate them to that agent even without a contract.
- Do you have a “team” or will I be working solely with you? Some agents are supported by a team or an assistant. But the agent you hire should do most of the work for you.
- How many foreclosures or short-sale transactions have you handled? The paperwork for distressed properties is complicated and you liability is greater, so an experienced agent is best.