You've
put a lot of time and energy into making the decision to purchase a
home, but don't stop there! Selecting an Agent to help you through the
entire process from start to finish is going to be as important as
determining how much home you can afford and where you want to live.
The
best thing you can do when selecting your Agent, is to choose someone
who has a personality that fits with your own. You will be spending a
lot of time with your Agent, so liking them would be a major plus!
Consider asking the following questions when interviewing an Agent:
Are you a REALTOR®?
There
is a difference between a Real Estate Licensee and a REALTOR®. A
licensee who is a member of the National Association of REALTOR®s, is
bound by the Code of Ethics and Standards of Practice associated with
the industry, and may be disciplined for violating it. They have a duty
to treat all parties honestly and fairly, and have a fiduciary duty to
their clients.
How does the process of purchasing a property work?
Your
Agent should be able to explain the process of locating a property,
placing an offer on a property, the inspection process, the closing
process and more. Also inquire about what your responsibilities are
during the transaction.
Can you assist in determining my purchasing power?
An
Agent should know the generalities about lending and financing, but
should not be determining your financial buying power. You should be
inquiring about lending options and financing terms with a qualified,
lending professional, and your Agent may assist you in locating a few
for you to choose from.
How will I know what price range to look in?
After
you have begun the loan application process, an Agent should be able to
narrow down a price range with the proper information from your lender.
You may begin narrowing your area criteria, as well as begin your
“needs assessments” with your Agent at this point.
Do you have training and education?
Most
states have strict laws regarding licensing and continuing education.
Your Agent should be able to give you up to date information, should be
committed to continuing education and should always act with
professionalism. Ask if your Agent has any designations indicating a
specialty in any areas, such as Buyer Representation.
Can you give me any references?
Be certain that your Agent is willing to give you references, or let you contact past clients.
What can I expect as far as communication?
You
will want an Agent who listens to your goals, explains and identifies
problems, and answers all of your questions. Communication is key, so
ask your potential Agent how he or she plans on informing you of issues
or concerns throughout the transaction as well as timelines and
deadlines.
How do you get paid?
Inquire
about the fee structure and representation. Most Buyer's Agents
actually earn a commission and are paid by the Seller, but still
represent the Buyer. Ask your Agent to explain the process so you have
a better understanding of how it works. Your Agent is a licensed
professional and is there to help and protect your best interests.
Let a HomeSmart Agent begin helping you on this journey today by clicking 'Find An Agent' on the left.
Remember, it's a Smart Move…with HomeSmart!
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