Who Should Represent Me?
As far as I am concerned, there is only one steadfast rule in choosing a real estate agent: Don?t ever walk in the door and assume that you are being represented. When you are shopping for homes, unless you have brought your own agent with you, it is important to ask, Who do you represent??
The greatest untruth circulating out there is that you can get a better deal on a home (new or resale) by representing yourself--that your agent?s commission can be deducted from the sales price if you choose to go unrepresented. This might be true, but since you have no idea what the ultimate sales price will be prices are negotiable after all, you have no idea whether you are saving that money or not. Also, the standard real estate listing agreement lists the full commission as the seller's agent's payment. In the event that another agent brings a buyer, the seller's agent shares the commission. In the event that the buyer is unrepresented, the seller's agent usually keeps the entire sum A.K.A. you are not getting a deal by going it alone and you are unrepresented nobody is looking out for your best interests.
Find an agent that you know, like and trust. Interview several agents if you don't find one that is a good fit right away. Ask questions:
- How many buyers in my price range have you represented in the past year?
- What lenders do you recommend for a buyer in my situation?
- Do you have a buyer's system?
- May I see your business plan?
- How many hours do you work? What is your schedule? How often can I expect to hear from you? Will you call or email?
- Why do you think that we should work with you?
- In the event that you are unavailable, who can I call?
- What is your background and education?
Once you find the agent that best fits your needs, you may choose to sign a buyer?s representation agreement, but it is always your choice. If you have questions about buyer's representation, contact us directly and ask for a buyer's agent interview form. It includes a detailed list of questions to ask an agent.