5 questions to ask when searching for a real estate agent
When you purchase a home, you will work with many professionals along the way. Mortgage brokers, lenders, and lawyers are all important figures in the buying process. Today, however, we will review the importance of selecting the right real estate agent! Your agent will work closely with you throughout the journey, so it’s essential that you take the time to find the right match. To get you started, here are five questions you should ask every potential agent.
#1 Are they familiar with buyers in your situation?
There are many types of home buyers, and each group of buyers will have different needs. First time home buyers, repeat buyers, families, single people, and retired couples are some types of buyers that exist in the housing market, for example. There are also buyers who have smaller or larger budgets than others, which will result in different types of properties. Your real estate agent should definitely have experience working with buyers in your specific situation. Let’s say you are a first time buyer looking for a detached house, with a budget that falls in the middle of today’s typical housing prices. Your agent should have worked with buyers who fit all of these descriptions before. The more experience they have helping buyers in your situation, the more knowledge they will have to guide you and help you find the right property.
#2 How many clients do they work with?
It’s crucial to ask your potential real estate agent how many clients they are currently working with. This is important because you want your agent to strike the right balance between too few and too many other clients. First, you want to ensure your agent has enough time to devote to you. An agent who already has several clients may be very successful and reputable, but it likely means they already have a packed schedule. They might struggle to provide the attention and communication you require. On the other hand, an agent who doesn’t have many clients will likely have more time to devote to you. However, you want to make sure their lack of clients isn’t due to a lack of experience or poor reputation. The best scenario is securing an agent who manages enough clients to have extensive experience, but can still prioritize your home buying journey.
#3 Do they know the area well?
Of course, you will want an agent who knows the area you are hoping to buy in! A local agent is key, and even then, it’s important to ask them about their knowledge. Dive into questions about the neighbourhood, amenities and services, schools, and general market trends.An agent who knows the local market well can give you valuable insight on these factors, which might influence your decision to buy in that area. Plus, in-depth knowledge on pricing trends will help you determine an appropriate future offer. A well-informed agent results in a client who can make the right decisions about their purchase.
#4 Can they make you stand out?
In a competitive housing market, having an agent who can make your offer stand out is essential. Odds are you won’t be the only person interested in a specific property, so you need a strategy to get the seller’s attention. Your real estate agent should help you stick out from other buyers. Things like flexible conditions on an offer or a higher offer price will likely be handy, for example. A great agent will also be able to highlight the advantages you offer, such as strong finances, flexible closing dates, or excellent organization. When you buy a home, you need to market yourself to the seller, and a good agent should be able to help you do that!
#5 What is their process like?
Finally, you should know that real estate agents all have different strategies and processes. Understanding an agent's process can help you decide if their style matches yours. Ask them to walk you through their approach from start to finish. This includes your first meeting, finding the right property, and navigating closing day. This will help you get a feel for their communication abilities, research style, connections, and negotiation skills. A great agent will have no problem laying all of this out for you in order to gain your trust. Don’t underestimate the power of clear communication, organization, and efficiency!
Finding the perfect real estate agent takes time and patience, but it is well worth it! Making the effort now will pay off later, and will certainly save you from unnecessary stress and costs. If you aren’t sure where to start, consider asking friends and family for any suggestions. You can also reach out to your broker for guidance! We work with many agents and would be happy to point you in the right direction.
If you have any questions about your mortgage, get in touch with me!