When you are ready to buy or sell a home, you will need to work with a real estate agent. This professional will be able to help you through the entire process, from finding the right property to closing the sale says Brian Colombana. But, before you hire an agent, you should ask them some questions. This will help you determine if they are the right fit for your needs.
Here are 15 questions to ask your real estate agent:
1. What is your experience in the industry?
A: This is a good question to start with; as it will help you gauge the agent’s experience and knowledge.
2. What are your areas of specialty?
A: Not all agents are experts in every area of real estate. Ask the agent what their focus is, so you can be sure they will be able to help you with your specific needs.
3. How do you normally go about finding properties for your clients?
A: This question will help you understand how the agent operates and if their methods fit with what you are looking for.
4. What kind of support do you offer during the buying or selling process?
A: Buying or selling a home can be a stressful process. Ask the agent what kind of support they offer their clients to help make things easier.
5. How familiar are you with the current market conditions?
A: It’s important to work with an agent who is up-to-date on the current market conditions, as they will be better equipped to help you find the right property or get the best price for your home.
6. What is your commission rate?
A: Agents typically charge a commission based on a percentage of the sale price. Be sure to ask the agent what their commission rate is before hiring them.
7. Do you have any references I can review?
A: References are a great way to get feedback from past clients about an agent’s performance. Ask the agent if they are willing to provide you with references.
8. Are you licensed and insured?
A: It’s important to work with a licensed agent, as they will be held to a higher standard. Additionally, insurance protects both the agent and the client in case something goes wrong during the transaction explains Brian Colombana.
9. What is your availability?
A: Ask the agent their availability, so you can be sure they will be able to assist you when you need them.
10. How do I get started?
A: Once you have asked the agent all of the questions above, it’s time to get started! Ask them how you can begin working with them.
11. What is your experience with short sales or foreclosures?
A: If you are interested in buying a property that is a short sale or foreclosure, it’s important to work with an agent who has experience with these types of transactions.
12. What type of marketing do you use to find buyers or sellers?
A: Ask the agent about their marketing methods, so you can be sure they will be effective in finding the right buyer or seller for your property.
13. How often do you update your clients on the progress of their transaction?
A: Brian Colombana says you should expect to receive regular updates from your agent during the buying or selling process. Ask them how often they typically update their clients.
14. What is your policy on working with dual agency?
A: Dual agency occurs when one agent represents both the buyer and the seller in a transaction. Some agents are comfortable with this, while others are not. Ask the agent their policy on dual agency before hiring them.
15. How do you handle negotiations?
A: Negotiations are a key part of buying or selling a home. Ask the agent how they typically handle negotiations to get an idea of how they may handle it in your transaction.
These are just a few of the questions you should ask your real estate agent before hiring them according to Brian Colombana. By asking these questions, you will be able to determine if they are the right fit for your needs.