Questions To Ask A Real Estate Agent - Part 2

Unfortunately, many homeowner’s are reasonably inexperienced when it comes to buying or selling a property. They rely greatly on the “perceived” ability of the real estate agent they are dealing with. Although the average real estate agent does a good job, many homeowner’s would be “fair game” for a disloyal, dishonest, or incompetent real estate agent.

To help select a good real estate agent, there are several key issues a homeowner (or homebuyer) should discuss before using just any real estate agent.

Here are 3 questions to ask any prospective agent.

Real Estate Agent Question:

How long has the real estate agent been selling homes in the local area?

Local knowledge is always helpful when buying and selling real estate. A good agent will be aware of the good neighborhoods (or streets) to buy in and which to avoid. The agent should be aware of the trends in the local property market and have a good feel for true market values.

It is a good idea to request a Comparative Market Analysis (CMA), which will show the actual market value of similar homes in the area. And remember, just because a real estate agent is new to the industry or to the area, it doesn't necessarily mean the agent will do a bad job. A new agent might have fewer listings than a more established agent and so might have more time to devote to helping you. It really comes down to how committed the agent is to getting you the best possible result.

Real Estate Agent Question:

What professional courses and designations has the agent completed?

The letters after the real estate name may be an indication that he or she has upskilled rather than just being content to just take the courses needed to get and maintain a real estate license.
Designations include: ABR (Accredited Buyer Representative), ABRM (Accredited Buyer Representative Manager), CLHMS (Certified Luxury Home Marketing Specialist, CRP (Certified Relocation Professional), CRS (Certified Residential Specialist), e-PRO (a training program presented entirely online).

Some of these real estate designations require memberships in organizations, with annual fees. Most successful real estate agents devote time (and money) to continuing education. The more the real estate agent knows about the laws and practices affecting your real estate transaction the better. A real estate agent who has upskilled may have the advantage of the latest marketing strategies.

Real Estate Agent Question:

Does the agent work full-time?

It is important to find an agent that will be serious about helping you and have the time available to put in the required effort when needed. That doesn't necessarily mean that the agent needs to work full time, but he or she certainly needs to be available and able to compete the transaction that benefits his/her client. If you are dealing with a new agent seek reassurance that he/she has adequate supervision from an experienced brokerage office manager.

Here is the link to a very interesting article titled: 7 Questions To Test The Loyalty Of A Real Estate Agent