The homebuying process can be stressful, but also very exciting. Choosing the perfect realtor to complete the process with can make all of the difference. Below is a list of questions every potential home buyer should ask their real estate agent. Some of these questions should be asked before a home buyer hires an agent, and others should be asked during the home buying process.
1. How Long Have You Been Selling Homes?
This question isn't meant to just weed out recently hired real estate agents. However, this question can tell you how much experience a particular real estate agent has had on the market. A real estate agent who possesses extensive experience will be able to spot potential problems and concerns with a particular home or buying process.
2. Can I See Your Real Estate License?
This question may seem rather obvious to ask, and often credited real estate agents have their license displayed in their office or on their website. However, if you are any bit hesitant towards working with a particular real estate agent seeing their license can be an easy step to ensure they are professional and legit.
3. Do You Have References I Can Call?
Calling the references of a realtor is a great way to ensure you are dealing with someone who is trustworthy and professional. Individuals who have had a bad experience with a particular realtor will be sure to speak up to prevent you from going through something similar.
4. Will I be Individually Working with You, or a Team?
Realtors who have a team of individuals working behind the scenes for them can provide extensive benefits that individuals realtors do not have the time to provide. However, it can be quite shocking to be handed off to an assistant when you believed you were entering the buying process with the individual realtor. Asking this question will allow you to establish exactly what the realtor will be working on in the process.
5. How Does Your Commission Work?
Normally buyers do not pay any commission to a real estate agent. These fees and agents are normally compensated by the seller. However, asking this question can eliminate any concern related to how your agent is going to get paid, and how that can affect what homes they are showing you.
6. Can I See the CMA for this Home?
A comparative market analysis normally compares around 10 homes in the area of the home you are buying. These homes are compared in terms of price, value, and amenities. Looking at a CMA can allow you to see how valuable the home you are interested in is compared to homes located in the surrounding neighborhood.
7. Do You Have Any Concerns About this Home?
Since real estate agents are often involved in the home buying and selling process longer than their clients, they can spot additional problems and concerns that may arise later in the process. These concerns could include anything from problems with the homes impact resistant shingles to the flakiness of a seller. This is another reason why working with an experienced real estate agent is essential.
8. What Happens if the Inspector Finds Something?
When an inspector tells an interested home buyer there are several problems with the home they are interested in the home buyer may become immediately discouraged. There is nothing more frustrating than finding out your dream home is infested with termites or there are major cracks in the kitchen’s main countertop. However, an experienced real estate agent may be able to use these repairs in the negotiation process to benefit the buyer.
9. How Much will the Closing Costs on this Home Be?
The closing costs on a home can include attorney fees, title fees, and other fees that are not included in the price of the property. An experienced real estate agent will be able to anticipate these fees and provide an accurate estimate.
Enjoy the Home Buying Process!
Yes, home buying can be stressful, but hopefully the questions listed above will help you hire a professional and dedicated realtor to assist you. The aid of a proper realtor should allow home buyers to enjoy the process and be focused on what they would like to first do in their new home: install a new shed using tilt up construction techniques, landscaping, or just relax and enjoy their new space.
Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value.