The agent plays such an important role in the home buying process; don’t just go with the first one you meet. There’s nothing more valuable than someone who is willing to share from personal experience with an agent. Ask family, friends, and co-workers about agents they have worked with. Recommendations are going to be invaluable, but ultimately your needs are unique so be prepared to vet any referrals.
Your agent has certain obligations to you in the real estate transaction. He should work in your best interest and typically have a fiduciary responsibility to you. The agent should consult with you before delivering counteroffers in negotiations and contract-related communications. While an agent is your representative, he should obey your requests.
Here are some considerations when qualifying an agent to represent you:
Interview the agent and ask how many homes the agent has listed and sold in the past few months. If you can, get references from past clients and follow up to get a better understanding of how the agent works.
Make sure the agent can take care of your needs with questions you have or things you don’t understand about the home buying process. For instance, you may have questions about mortgage insurance, which is required for many first-time homebuyers. If they can’t explain concepts in easy to understand terms or put you in touch with someone who can, they may not be the best choice.
The way an agent communicates is another important consideration, especially when you prefer to exchange information with him in various ways, such as by email, telephone, and text messaging.
Be clear that the agent is representing you and that you are working with a buyer’s agent if you’re a buyer, or a seller’s agent if you’re a seller. Also, ask about the agent’s commission and any requirements of buyers or sellers agreements. Some agents will want exclusivity, meaning that you will be working only with them. In this case be very aware of the term of the agreement and details that could lock you in to a relationship that isn’t working.
Once you’ve decided with whom you want to work, be open, honest, and fair with your agent. Expect regular contact with your agent, but remember the agent also has other clients. When you tour a home with an agent be sure to tell them what you like and dislike. The agent can use this information to find houses that more closely match what you are looking for.
THE BEST POLICY: Expect honesty from your agent. If you are unrealistic about the type of home you can get for your money, your agent should tell you.
Be sure to give the agent feedback about why you are unhappy. If you bring up issues with the agent and he doesn’t satisfactorily deal with problems, you can fire him. Check out the terms of any contract you may have signed.