Buyer agents are specialists who offer daily email listings of homes; including listed, not-yet-listed and for-sale-by owner properties. Buyers' Agents also have information on Buyer's programs and mortgage loans.
Below are some good questions to ask when choosing a buyer agent. We recommend you carefully interview any brokerage before agreeing to work with them.
Suggested Interview QUESTIONS
1. How long have you been licensed? Do you work in real estate full time?
2. What percentage of your business is working with buyers?
3. How familiar are you with the area where I want to purchase?
4. Do you have references from other buyers who have used your services? Do you have an association membership that has a published code of ethics or standards of practice?
5. Do you think foreclosures, bank-owned properties or for-sale-by-owner properties would be appropriate for my home search?
6. How often will you supply me with properties that meet my criteria? How will you get them to me? Will you point out all the negative aspects of each property as well as all the positive aspects?
7. Please tell me how you represent buyers to help them get the best price and terms?
8. Can you help me with the loan process? Do you have a list of lenders, home inspectors, insurance agents and other professionals to recommend?
9. How do you get paid?
10. Do you have a written agreement? What is the duration of that agreement? What if I see a for-sale-by-owner house on my own?
Note: If you are also interviewing brokers in traditional companies with "listings", (ie, companies that have contracts to get the highest price and best terms for the seller),
...be sure to ask this question:
How would you represent me as a buyer client for properties listed with your firm? Will you change your relationship with me to "dual agency", "designated agent", or "transactional broker"? How might that affect your ability to negotiate on my behalf for those properties?
Please keep in mind that real estate agents work differently in different market places. The agent you choose will explain how he or she will work with you to best represent you and serve your needs.
Consider our office to be your free consultation zone for any questions related to the home buying process: 800-986-2322 Your friends and family are also welcome to visit our web site to request a buyer agent at www.naeba.org/agent/index.htm.