Welcome back to Homebuying 101. For the first installment of this series, we'll tackle how to interview an agent. Once you've narrowed down your buyer's agent search to a few candidates, it's time to start getting to know them. You'll want to consider not just their experience and professional expertise, but how well the two of you communicate. After all, a home search can sometimes take months or even over a year, so you'll want to find someone that you're comfortable with. Depending on your situation, there can be any number of important, relevant questions you can ask — here are a few to get you started.
1. How long have you been in the business? Do you have a specialty?
As a first-time homebuyer, working with a more experienced agent may help you feel more at ease throughout the process. You will also want to consider your specific concerns. Are you looking for someone who specializes in negotiation? Perhaps you're moving to a new town and would like to hire a long-time resident to show you around. Think about your unique needs and ask accordingly.
2. What's your availability and how can I reach you?
Do you prefer texts, phone calls or emails? Would you prefer to talk to your agent during business hours, at night or on the weekends? Whatever your preferences are, communicate this to your agent and ask the same of them. Establish how and when you will communicate and make sure to always use trusted, verifiable channels.
3. How are you compensated?
There are several ways an agent can be compensated, depending on whether they are the buyer or seller's agent. Real estate transactions are complex, but you can avoid any confusion upon hiring your agent with a representation contract — this will outline all of the details of your representation agreement, including compensation.
4. Do you have experience in this area?
Every community is different, and you want to work with someone familiar with the area where you're looking to buy a home. Even if you're not moving far from where you currently live, a good buyer agent will have valuable experience and knowledge about the local market. This can not only help you find a home more quickly but can also aid you during the negotiation process.
5. Do you work independently or as part of a team?
Neither one is better than the other — it's all about what kind of service you're looking for. If you prefer to work with the same person every time, get to know them and build a bond, a single agent might be the right choice. On the flip side, working with a real state team can mean there's always someone available to answer your calls or take you on a last-minute showing.
6. Do you have references I can call?
Being a real estate agent is all about having and maintaining connections. Every agent should have a list of former clients that you can speak with to get an honest review of their experience — this is also a good chance to prepare yourself for your own homebuying experience! Ask for a few names of past clients and reach out to them.
