Buyers & Sellers

Buyers Basics | Mortgage Options | Qualifying Guidelines | Your Price Range | Your Credit | Choosing a Realtor

Criteria for choosing a Realtor

It's important to choose an agent you feel comfortable working with—one who is competent and prepared to be with you throughout each step of the home-buying process. These are some helpful guidelines:

• If you've already chosen a neighborhood, find an agent within that community.
• Find an experienced agent with a known reputation. Look at credentials, track record—even awards.
• Choose one who is a member of the Board of Realtors.
• Find someone who is continuing education—a Certified Residential Specialist (CRS), Certified Residential Broker (CRB), a graduate of the Realtors Institute (GRI) or an Accredited Buyer’s Representative (ABR): This shows the realtor is interested in the business long-term and is willing to invest in his or her career.
• Ask for referrals from family or friends.
• Interview at least three agents before you make your final decision.

Questions you may want to ask:

• What were they like to deal with?
• How hard did they work for you?
• Did they get you a good price?
• Were there any complications?
• Were they truthful?
• Were they looking out for your best interests?
• Would you use their services again?

Once you’ve narrowed your selection down to your top three choices, ask:

• How many buyers have you successfully represented in the last six months?
• May I have the names and phone numbers of three to six of your most recent clients who are buyers?
• Do you deal mostly with home buyers or primarily with home sellers?
• What professional designations do you have?
• Are you fully automated with your own personal computer, fax machine, copier, pager, voice mail, etc.?
• What is your commission? Or do you have hourly rates or a set fee?
• Do you have a list of home inspectors, insurance agents and reputable lenders for me to consider?
• What clauses will be included in our offer to protect me as a buyer?
• Will you try to sell me one of your listed properties before you show me listings from other real estate companies?
• Do you have information about For Sale by Owner properties?
• How will you help me save money?
• How will you protect my interests, and why should I hire you rather than another agent?

The following are additional questions for your consideration:

• Which Realtor returned your phone calls?
• Which one asked questions to determine what you want/need in a home?
• Which one performed a financial analysis to determine how much you can afford?
• Which one suggested financing methods?
• Which one seemed most knowledgeable about the community?
• Which one explained details most clearly?
• Which one did you feel most comfortable with?
  

Keep in mind:

• The seller is represented by the listing agent.
• The buyer is represented by the selling agent.
• The selling agent is also referred to as the buyer’s agent.
• Real estate commissions are usually paid by the seller.
• The selling agent, although representing the buyer, has certain duties to the seller.
• If you, as the home buyer, want to have a real estate agent represent only your interests, you will need to hire and pay commission to your own real estate agent (generally referred to as a buyer’s agent).
• If you call on a classified ad in a newspaper, a home sales magazines, or a listing on the Internet, you are most likely calling the listing agent.