3.
Do you have a Website that will provide me with useful information? Can
I have your URL address? Who responds to emails and how quickly?
What’s your email address?
Many homebuyers prefer to search online for homes because it’s available
24 hours a day and you can do it in the privacy of your own home. By searching
your real estate agent's Website you will get a clear picture of how much work
you would be able to accomplish online.
4. Will you show me properties from other companies' listings?
Some real estate companies do offer their buyers' agents a higher commission
if they are able to sell "in-house" listings. In such circumstances,
there can be added incentive to limit the range of homes you are shown. This
may impact your home search and how much your buyer agent's fee will be.
5. Will
you represent me or will you represent the seller? May
I have that in writing? How will you represent me, and what is
the direct benefit of having you represent me?
The goal here is to ascertain to whom the real estate agent has legal fiduciary
obligation, which may vary from state to state or even locale to locale. In
the past, agents always worked for sellers. Then the listing broker was responsible
for paying the agent or sub-agent that brought a suitable buyer for the home.
And even though the buyer worked 'with' an agent, the agent still represented
and owed their fiduciary duty to the seller.
Dual agency is where the buyer decides to have the listing agent
prepare the offer for him. If you are a knowledgeable buyer,
you may choose to do this, but only with full disclosure to all
parties. In some states it also affects the broker's/agent's
fiduciary responsibilities to the seller.
Although seller agencies still exists in certain areas, agents
today almost always have a sense of moral obligation to buyers.
Find out what is common in your area and understand what kind
of agent you have before you begin to work with them.
6.
How will you get paid? How are your fees structured? May
I have that in writing?
In many areas, the seller pays all agent commissions. Sometimes,
agents will have other small fees, such as administrative or
special service fees, that
are charged to clients, regardless of whether they are buying or selling.
Be aware of the big picture before you sign any agreements.
Ask for an estimate
of buyer costs from any agent you contemplate employing.
7. What
distinguishes you from other real estate agents? What
is your negotiating style and how does it differ from others?
What geographic areas do you specialize in?
Each agent has unique methods of overcoming obstacles and negotiating deals.
The most important thing is to make sure your agent is an effective advocate
for you.
8. Will you give me names of past clients?
Interviewing an agent can be similar to interviewing someone to work in your
office. Contacting references can be a reliable way for you to understand
how he or she works, and whether or not this style is compatible with your
own.
9. Do
you have a performance guarantee? If I am not satisfied
with your performance, can I terminate our Buyer Agency Agreement?
In the heavily regulated world of real estate, it can be difficult
for an agent to offer a performance guarantee. If your agent
does not have a guarantee,
it does not mean they are not committed to high standards. Typically, he or
she will verbally outline what you can expect from their performance. Keller
Williams® Realty understands the importance of win-win business relationships:
the agent does not benefit if the client does not also benefit.
10. How will you keep in contact with me during the buying process?
Some agents may email, fax or call you daily to tell you about properties that
meet your criteria, while others will keep in touch weekly. Asking this question
can help you to reconcile your needs with your agent's systems. |
