10 Interview Questions Home Buyers Should Ask Before Hiring a Real Estate Professional to Help Them - by YourStreetDreams.com

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 1, 2011 -- Home buyers face many challenges today when looking for a home. Securing financing is a critical step in process and then finding that dream home is the end goal. The assistance of a real estate professional can save you countless hours and in many cases help you get a better deal than you might have gotten on your own. Unfortunately, not all real estate agents are alike and making the correct choice at the start is the key to a positive and successful experience.

If you decide to hire an agent, it is really no different than if you were going to interview an applicant for a job opening that you have. In this interview process there are 7 critical questions that you should ask before you select a professional to work with.

1. Are you a California licensed Realtor?

This is a very important question because buyers should only be working only with Realtors. I talk about this topic quite a bit and it is my opinion that it is always best to work with professionals who are held to a higher standard and who are members of their own business association.

2. Are you a full time Realtor?

If the answer is no then the buyer may have a problem getting in to see the properties on your schedule and they’ll be juggling too much to be able to do an effective job. This is a full time business.

3. How long have you been selling real estate and how long have you been selling real estate locally?

This is important because you don't really want to be the Realtor's first client and you want the person helping you to know the area at least as good as or better than you do. Another benefit is the agent will have plenty of good contacts to suggest to you such as: home inspectors, contractors, lenders, and the list goes on.

4. Do you have a website?

This may not sound important but this could be a signal that the person that you are working with isn't into technology or doesn't have enough money to invest in one. Always be cautious of those few real estate professionals that lack the basic tools for their trade. A basic website is relatively inexpensive.

5. Are you going to show me all properties or just the properties that your office has listed?

As a buyer, you want to see everything that matches your criteria, regardless of who or which company has it listed or how much the selling commission is. Note: some listings offer different commission rates to the Realtor’s that represent the buyer. It's important to know that your agent has your best interest in mind and not his/hers.

6. Will you be representing me or are you also representing the seller.

Some Realtors have what is called a "pocket listing", which is basically a listing that hasn’t been listed on the MLS. Before writing an offer on anything, make sure your Realtor is representing only you.

7. Do you charge any buyer fees or are you paid only off the commission from the seller.

Generally, it’s the seller who pays the commission to both the listing agent and the agent that brings in the buyer. Sometimes the Realtor representing the buyer also charges a fee, however, any fees have to be in writing and that’s why it’s so important to read everything before you sign. Many times Realtors will require the buyer to sign a buyer's agreement, which basically says that if the Realtor is showing you homes and you find one you like then you'll use that Realtor to write up the offer. Remember, this is one of those cases where the Realtor does put in a large amount of time and needs a commitment of service from the buyer. If you are using the Realtor to help you find a home then signing a buyer’s agreement is just good business.

8. How will you be providing me with the list of homes that meet my criteria?

The goal of a good Realtor is not to email you 50 to 100 homes to review; in fact it is just the opposite. A good Realtor should be sending you 6 to 12 homes from his/her M.L.S. link and every one of those home should meet the requirements that you want. This is one of those cases where more is worse because it is virtually impossible to see 20-25 homes and remember the features of the first 6 that you looked at. What you should be getting is a small number of homes where at least one or two are worthy of submitting offers on.

9. Do You Have References?

This is important because a Realtor may have represented 20 buyers and sellers and all of them could have a truck load of complaints. Again, you are interviewing a candidate for a job and you are basically asking for information that they should already have prepared.

10. Do you have a guarantee in writing that allows me to cancel the buyer's agreement if I'm not satisfied with your services?

This is your escape route just in case you are not seeing the results that you had hoped for. A confident Realtor with a solid history of successes and well established in the community will usually have a guarantee of satisfaction.

Summary:

Buyers want to know that they are getting a good deal and that the person working with them has their best interest in mind. Not all real estate agents are Realtors, not all Realtors do a great service for their clients and that’s why conducting a formal interview with at least 3 different Realtors increases your chances of having a great experience. I’d like to add a special note: If you have a relative, neighbor or friend that has a real estate license, interview then the same way you are interviewing the others. Your aunt Betty might not be the best one for you to use just because she has a license.

I would like to point out that many Realtor’s have plenty of experience and do a great job, unfortunately, as with any profession there is always a small percentage that doesn’t have the experience or ethics to do the best job for you and those are the ones you want to discover and disqualify in the interview process. Make a list of questions that that you want answers to before you start the interview process and don’t forget to add these 7 questions to your list.

For more information visit: www.YourStreetDreams.com or email any questions or comments to: jeff@yourstreetdreams.com

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