Selecting Best Buyers Agent
Here are two questions that quickly will tell you whether a buyers agent is actually familiar with local market conditions ...
- What is the discount at which local homes currently are selling after they have been listed 30 days, 60 days, and 90 days?
- How much have home prices increased / decreased during the past year and during the past two years in the general price range and town in which you want to buy a home? You also may want to ask how the price change was calculated. (Using either average or median home prices produces a metric that frequently is misleading and more often than not is just flat wrong.)
More questions to help you identify the buyer's agent who is most capable of helping you both find the best home to buy and negotiating a fair sale price are provided below.
If you think the market knowledge and/or business skills possessed by your agent are of little consequence, you really should click on this relocation packages hidden costs page link to see how much working with the wrong agent can cost you. Don't be put off by the link description. The costs of a poor buying decision are exactly the same whether or not you are getting a relo package.
Those of you who are receiving a relocation package also will find at the above link a description of why I have concluded it is not a prudent decision for me, or actually for any real estate agent, to pay the referral fees charged by corporate relo companies. It seems particularly egregious for relocation companies to demand a "referral fee" when they have absolutely nothing to do with whom home buyers choose to assist them in finding and buying their new homes. The bottom line is ill-advised business decisions like agreeing to pay such fees, particularly when the relocation company provides nothing of value in return, are likely the principal reason only about 15 percent of real estate agents are still in the business ten years after they were first licensed.
Here are some additional questions that will help you identify the buyer's agent who is most qualified to assist you and your family with finding your new home. Click on any of the questions to see my answers.
- Why should I pick you to be my real estate agent?
- What geographical area do you specialize in and how do you stay current on the real estate market conditions there?
- Do you handle both sides of transactions or work exclusively for home buyers?
- Do I need a buyer's agent to assist me when working with a builder?
- In which neighborhoods will I most likely find the home that best meets my requirements?
- What information will you provide me about the homes we look at and the neighborhoods in which they are located?
- If I am not pleased with the services you provide, what is required to terminate our Buyer Representation Agreement?
- Can you get me a really great deal on a home?
- Will I be charged any commission or fees for your services?
Looking for the best real estate agent to assist you in buying a home in the Dallas suburbs?
If you are looking for a professional, business-savvy buyer's agent, please call 972 355-3511 or send me an email and let's talk about how we can assist you. If you will be traveling from outside the DFW area and want us to show you houses while you are here, please call before finalizing your plans.