Hiring a Real Estate Agent When Buying a Home

How can a real estate agent help me?

Whether you're in the market for a primary residence, an investment property or a second home, purchasing real estate involves many important considerations and decisions. A real estate agent can provide the focus, due diligence and expertise needed to help you find the home of your dreams.

Helpful Resource: OREGON PROPERTY BUYER ADVISORY

A real estate professional will:

. Assist in determining how much house you can afford and help you get pre-qualified or pre-approved for a loan.

. Simplify your search by helping you define home and neighborhood criteria.

. Screen new listings daily and alert you of homes that match your criteria.

. Keep you abreast of local market conditions, so you can make informed decisions.

. Gather in-depth detail on each home, schedule tours and point out the advantages and possible drawbacks of each property.

. Work with you in drafting an appropriate offer and serve as your representative when presenting it to the seller.

. Negotiate a contract that considers your goals and leads to a successful closing.

. Personally refer you to proven service providers, such as inspectors, appraisers, title companies, warranty providers, insurance agencies, attorneys, carpenters, movers and more.

IMPORTANT TO NOTE: Real estate professionals can represent the buyer, the seller or both. When agents represent both parties, it is called dual agency. In some states, dual agency affects the real estate professional's fiduciary responsibilities to the seller. Keep in mind that real estate laws differ from state to state and even from locale to locale. For more in-depth answers, talk with a knowledgeable real estate professional and ask about local practices.

 

10 things you should ask a real estate agent

Having the right real estate professional by your side can greatly improve your home-buying experience. A good rule of thumb is to interview a minimum of three candidates.

Here are 10 questions to ask during an interview:

•  Are you a full-time professional REALTOR®? How long have you worked full-time in real estate? What geographic areas do you specialize in?

•  Do you have a Website? What information can I find there?

•  How will you keep me informed during my home search and throughout the transaction?

•  Do you have a staff or a team? If so, what roles will they play in my transaction?

•  Will you show me properties from other companies' listings? (Some real estate companies do offer their buyers' agents a higher commission if they are able to sell "in-house" listings. In those instances, there can be added incentive to limit the range of homes you are shown. This may affect your home search and how much you your agent's fee will be.)

•  Will you represent me exclusively, or will you also represent the seller? May I have that in writing?

•  How will you get paid? How are your fees structured? May I have that in writing?

•  What distinguishes you from other real estate agents? What is your negotiating style?

•  May I contact some of your recent clients as references?

•  Do you have a performance guarantee? If I am not satisfied with your performance, can I terminate our buyer agency agreement?

(In the heavily regulated world of real estate, it can be difficult to offer a performance guarantee. Typically, agents will outline verbally what you can expect from their performance. Keller Williams Realty understands the importance of win-win business relationships: The agent does not benefit if the client does not benefit.)