1. Is this your full-time career? Full-time (30 to 40 hours per week or more) is preferable. If the agent only works part-time be sure you are clear as to when he or she will be available to you as they may have another job or commitments that would make them unavailable when you need them.
2. Is your license in good standing? It is always a good idea to check the agent's licensing with the states licensing board for any agent you are considering.
3. Are you a member of the state and national Realtor associations? Brokers, associates, and sales agents who are members of their states association of Realtors and the National Association of Realtors (NAR) follow the strict Realtor Code of Ethics, take more educational courses than other licensees, average higher earnings, and generally exhibit a higher level of professionalism than licensees who are not Realtors.
4. How well do you know the area(s) I am interested in buying a home in? The longer an agent has worked in a particular neighborhood or city, the more familiar they will be with the trends and history there.
5. What types of buyers do you work with? Not all buyers have spotless credit and a 20% down payment. If you possibly fall into this category, find out if they are prepared to work with a buyer who may not have a AAA credit rating.
6. How many buyers have you helped buy homes in the last year? What types of properties were they? The answers given here will really help you when it comes time to compare agents. If the agent specializes in commercial properties, then you probably want to look for another one who sells mostly residential homes. Find out what percentage of the homes were from listings and what percentage were from sales. Also ask about the price ranges of the homes sold. An agent who typically assists buyers with million dollar mansions may not be interested enough to spend time looking for a two-bedroom condo.
7. Can you provide me with a list of references that I may call? Follow through with making the calls. Ask previous buyers how the overall experience was with that agent, and if they would use them again.
8. How many other buyers and sellers are you representing at this time? It is difficult for an agent to efficiently represent more than 15 to 20 clients at a time without an assistant.
9. Do you have an assistant? Find out if you will be dealing with the assistant or directly with the agent, especially if they have more than one.
10. Will you want me to sign an agent contract? Unless you are working with an exclusive buyer's broker, you generally won't need to sign a contract. It is beneficial for both parties to establish a mutual trust for working together.
11. What are your sales strengths? How do you improve your sales skills? A true professional will regularly take courses designed to improve their communication and negotiation skills. Ask if they take the courses voluntarily or if their company requires them. This will say a lot about the individual as well as the agency.
12. Will you expect us to look at homes on our own? A good agent will stay with you every step of the way to make sure you are looking at properties that are right for you. Only if the market is extremely fast will an agent suggest that you look at homes on your own.
13. How will I know that what we are offering for a house I am interested in is a fair price? An agent familiar with the area will most likely know if the asking price is in the right ballpark or not. Their answer should include that they will provide a comparative market analysis (CMA) on the home that you are seriously interested in making an offer on.
14. What times can I reach you and what numbers are the best to use? Are they available most any time? Make sure that their time available to work with you coincides with your schedule.
15. How many other homes have you helped clients purchase that are short sales or pre-foreclosures?
Becuase of the state of the industry these days, there are a large number of short sales (homes with an asking price at or below what the borrower owes on the house) and foreclosures on the market. An agent who has never dealt with short sales or foreclosures may not be as knowledgeable with all the ups, downs and problems that can come up with these types of transactions.An agent who does have this kind of experience will save you both a lot of time and headaches and can help make the purchase of your home as smooth as possible. Keep in mind that not all houses on the market fall in this category. If you absolutely do not want to buy a short sale or foreclosed home, now would be a good time to talk about this with the agent.
