Updated 8/30/19
Finding An Real Estate Agent: What You Should Look For
Now that you have an idea of what homes you’d like to purchase and know a bit about the loan programs available, now it’s time to take things to the next level. To actually have an opportunity to view most of these homes, you’d need a real estate agent. However, there are some exceptions to this. If a home has an open house viewing, you do not need to show up with an agent. Your real estate agent needs to be someone you trust, as many negotiations will need to take place when you’ve settled on a home that you love. When you contact a real estate agent, confirm if they represent buyers, sellers, or both. If you are open in your viewing of homes, your agent will help you find homes that meet your specifications to the best of their ability. An agent will be willing to communicate with you in whichever way you prefer, whether it be mostly be email, or by phone calls.
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Real Estate Agent Qualities To Look For
- Experience
- Experience in your area is one of the most important factors, as additional experience can help with negotiating the contract. Just because a home is listed for a price, does not mean it cannot be negotiated, and the real estate agent may be able to cross-reference previous sales to lower the price of the home. Negotiations on contract price happen all of the time, and having an Agent that knows more about the housing costs in this area will only help you with getting your home for an affordable price. Additionally, more experience usually leads to better communication between you and your real estate agent, as well as your agent and the seller’s agent. They’ll also be more knowledgeable about answering your questions
- Honesty
- By having an agent you can trust, you will be able to feel at ease with the entire process. If you at all feel uncomfortable with your agent, or are unable to properly communicate due to the lack of trust, you need to find a new agent. There are agents out there that will say and do anything to get the home purchased, even if you voice concerns about whether or not this is the home for you. If it sounds like you’re being treated like another possible commission, as opposed to having your needs properly addressed, move on to another real estate agent. Do not feel married or attached to someone who does not have the best interest for you.
- Professionalism
- Your Real Estate Agent is your advocate in the transaction for the home, whether you are buying or selling. You should expect professionalism from your Real Estate Agent because this Real Estate Agent will be your voice in this home transaction. The Agent will also expect you, as the client, to also do your part and remain engaged as well. Many documents and items will be asked of you, some that your real estate agent will handle, but most will be up to you to submit in a timely manner to the lender. When a real estate agent schedules a time for a viewing of a home, expect them to be on time. They will be holding you to the same level of punctuality.
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Can I Switch Agents?
The terms of your contract with the real estate agent will determine if you are allowed to switch agents during the process of buying a home. If you sign any brokerage agreement, you may not be able to get a new agent without breaching that contract. Be sure to go over any contracts in detail before signing documents and agreements. If you have any questions, be sure to have the Agent explain exactly what they are having you sign. The binding agreement is usually called the “Buyer’s Broker Agreement,” so be aware if you have not signed such a document, you can switch to a different real estate agent freely.
In the next section, we’ll be talking about the actual Loan Process up until Closing!
