Seven Buyer Agent Interview Questions
A buyer agency (a real estate agent representing only the buyer in a transaction) was relatively uncommon in the real estate industry not long ago because most agents represented the sellers of property or both parties. How do I find the best buyers agents Sydney?
Buyer agencies arose due to the need for a real estate professional to represent the interests of real estate buyers exclusively. Today, tens of thousands of agents represent buyers in real estate transactions, so here are seven questions to ask to help you find the right buyer agent for you.
In the last year, how many homes have you sold? – Over one million practicing professionals working in the real estate industry, and each agent can work part-time or full-time.
Sometimes you have a licensed agent who helps friends and family sell real estate, and other times you have a full-time professional who helps purchase and sell dozens of properties yearly. Please find out how many properties your buyer agent has sold in the last 12 months better to understand their experience in today’s real estate market.
How many times in the last year have you only represented the buyer in a home sale? – The representation ratio is as important as the agent’s overall sales experience in determining the agent’s ability to assist you. Because buyer representation and seller representation are two very different concepts, ask your buyer agent how many times they have only represented the buyer in a real estate transaction.
What area do you sell the most homes in? – When you begin looking for a home, you must determine where your ideal living areas will be. Using an agent who is well-versed in the area, you’re looking in will help you find the right home much faster. Unfortunately, many real estate agents specialize in a single county, city, or even town!
What’s the most you have negotiated off a home’s price in the past 12 months? – Negotiating the best price for your buyer client is integral to being a buyer agent. When interviewing your buyer agent, ask about their most recent successes with other buyers because there’s a good chance you’ll see similar results. Some agents will constantly push for the most significant price reduction possible before you buy a home, and some agents will be happy if you buy a home at the asking price without negotiation. Knowing their negotiating success is critical to your investment because it is your money and future.
What kinds of incentives are currently being offered by builders and homeowners? – During down markets,s you will find a lot of home builders and sometimes even homeowners who offer incentives to entice you to purchase their home. Incentives can include the seller paying closing costs, HOA fees, car leases, and free appliances.
Do you have a network of contacts that I can use to make my buying process more manageable? – It is essential to know who your buyer agent knows. What if you require a new home inspector at the last minute? A solid network of contacts will help streamline your home-buying process, making it much less stressful.
How quickly can I expect a response from you? – Home buyers’ primary concern is what happens once you start home-buying. Will your agent be available by phone, text,t or email? Will you have to wait three days to hear back? These are critical questions to ask before selecting a buyer agent.
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