Questions to Ask Any Realtor®

1. How long have you been in residential real estate in our area? If they have not been in local real estate for at least several years, they have not been involved in the cyclical market that has defined our market to date. Along with this, ask how many transactions they average per year. Are they a part-timer, do they pay VERY close attention to a smaller number of sales per year, or do they have a large staff of less experienced assistants that helps them do an impressively enormous volume--but perhaps with little one-on-one time with the real Expert?  How much know-how or how many resources each of these different styles of Realtors® dedicates to serving YOU (because you are the only one you really ought to be concerned with) is what will usually determine which business style you are drawn to.

2. What is your procedure for assisting a buyer from beginning to closing? Make sure that the Realtor® has a precise presentation for you that explains exactly how they work and how they represent you and your best interests.

3. What is your experience with financing alternatives, and what might they be in my situation? Each buyer's situation is different. It is possible that I can help you find a better financial situation with the same monthly payments simply by helping you explore different financing options. You might have many alternatives. Don't depend solely on the lender. Your Realtor® should lead the way.

4. How do you determine my qualifications and when? You would be shocked at how rare it is for Realtor® to complete your qualification right away. Even so, it is important to have this done early in the process. This way you are ready to make a strong, well documented offer as soon as you find the home that catches your interest.  This increases your chances for not only finding, but buying the home of your dreams.

5. How do you provide me with information on new homes for sale? Your Realtor® should have a system that automatically updates you when new homes meeting your criteria come on the market.

6. What is your negotiating philosophy, and how do you apply it to me? This is important. Pay close attention to how many transactions the Realtor® does per year. More is better. The more transactions the Realtor® closes, the more experience they have in negotiating just about every situation that could come up.

7. How do you find the best value for me? How do you make sure it is a good value? This is important because the Realtor® should have some immediate and concise answers as to how they accomplish this for you. They should have systems in place and be able to explain them to you.

8. How do you protect me from the extensive costs that lenders, title companies, inspectors and others charge a home purchaser? The typical answer is that these charges are just normal. Make sure that the Realtor® has relationships with companies that can offer you good service and some discounts. Also make sure that the Realtor® has an immediate knowledge of what typical costs are.

9. Can you sell us a new, resale or foreclosed home? Most Realtor® will answer affirmatively, but you should follow up with questions about specific builders and areas.

There are many more questions to ask, this is just a sampling. Do you have a specific question you would like answered? Let us know by clicking here!