10 tips for choosing a real estate agent

As a prospective homeowner, selecting the right real estate agent is critical. An agent keeps you in the forefront of a rapidly changing industry where homes zip on and off the market. An agent also keeps you legally compliant when confronted with confusing contracts or tough negotiations.

The most reliable way to hire a strong agent is to investigate more than one specialist. Here are 10 tips to guide you.

1. Locate at least three (preferably five) real estate professionals.

• Look around your neighborhood. Is the same for-sale sign in every   other yard? Call this agent and arrange an interview.
• Use the Internet. You're already on the RE/MAX Action First Web site.   Just click on the Our Agents link to the left to find an agent.
• Ask a neighbor or friend. Who helped them buy their home? Who would   they hire if they decided to buy?

2. Interview the real estate professionals you identified. Having a conversation with the person is a good way to find out if your personalities and goals match. Here are things you want to ask.

• "Are you a Realtor®?" You'll probably have the best luck finding the   right home if you work with a Realtor®, not simply a real estate agent.   Realtors® are members of the National Association of Realtors®. They   are generally full-time agents who have committed financially,   educationally and professionally to being an expert in the real estate   industry.
• "How often will you notify me of new listings?" In some markets, houses   enter the market and sell within the first hour. You need an agent who is   serious about finding a home you'll love. Buyers should expect to hear   from their agent whenever a home matching their description appears   on the market.
• "How often can I expect to hear from you?" Just because your dream   house isn't on the market yet doesn't mean you won't have questions.   Be sure to work out an arrangement from the beginning.
• "How quickly can I expect you to return phone calls?" You don't want to   be ignored. If the agent doesn't have a callback policy ("You'll hear back   from me within two hours/30 minutes/before the day ends"), you may not   get the service you expect.
• "Are you a full-time agent?" "Hobby agents" aren't as capable of   meeting your expectations because their attention is divided by other   responsibilities. Limit your search to full-time real estate agents.
• "Who will you represent in my transaction?" Depending on local laws,   the agent representing you may be a subagent for the seller (not what   you want as a buyer).Find an agent who can truly represent your   interests without having to bow to another client. You may want to   consider hiring a Buyers Agent.
• "Will you give me your honest feedback?" Avoid "yes-men." If you can't   find your dream house because it simply doesn't exist at the price you've   quoted, you need more options. When you find a strong agent, you get   more out of each meeting.
• "How long have you actively worked in the area?" While the answer to   this question shouldn't necessarily be a deal-breaker, an agent who has   worked in the area a long time may be more aware of properties that   match your description.

3. Compare interview notes. Think about each agent, and decide which one is right for you. You should choose someone aggressive, but who doesn't make you feel anxious or pressured.

4. Experience pays. Experienced real estate professionals often earn designations that separate them from the pack. These designations are earned through training that helps the agent become a specialist in certain areas. Pay attention to agents who have designations listed after their names on business cards. Specifically ask the agent what each one means.

5. Find an agent who is savvy about technology. Through the online tools available agents these days, you can expect nearly immediate e-mails about new property listings and quick replies to your queries.

6. Ask for references. This shouldn't be a big deal; it's a last-step investigation that could confirm or reject your impression of the agent.

7. Before signing a contract, have the agent explain "Dual Agency" as defined on the Consumer Guide to Agency Relationships Form.

8. Buyer agency agreements are common, but be careful. What if the agent doesn't follow up with you? What if you don't get along? What if the agent doesn't understand your needs? Remember that a buyer agency agreement is negotiable, and you can help sculpt the specific terms.

9. Select a strong negotiator. Ask your agent whether he or she has ever been in a tough negotiation and how he or she negotiated a fair price.

10. Talk money. Usually the seller foots the bill for a real estate professional's commission, but don't assume this will be the case. Ask point-blank what your financial obligations are throughout the process. back