What Should I Be Asking My Real Estate Agent?

• February 6, 2009
• 4 Comments

by Mark Wellborn

There are probably hundreds of lists floating around the internet that give prospective home buyers the questions they should ask a prospective real estate agent. However, we took notice of one put out by the National Association of Exclusive Buyer Agents (NAEBA) not only because the organization is well respected among the real estate professional community but also because the questions were really good. We highlight some of the best questions below:

• How long have you been licensed? Do you work in real estate full time?

• What percentage of your business is working with buyers?

• How familiar are you with the area where I want to purchase?

• Do you have references from other buyers who have used your services?

• Do you think foreclosures, bank-owned properties or for-sale-by-owner properties would be appropriate for my home search?

• Please tell me how you represent buyers to help them get the best price and terms.

• Can you help me with the loan process? Do you have a list of lenders, home inspectors, insurance agents, and other professionals to recommend?

• Do you have a written agreement? What is the duration of that agreement? What if I see a for-sale-by-owner house on my own?

For the full list of questions, click here.

This article originally published at http://dc.urbanturf.com/articles/blog/what_should_i_be_asking_my_real_estate_agent/527

4 Comments

1. Jon Boyd Ann Arbor real estate buyer's agent said at 3:25 pm on Friday February 6, 2009:
   Mark, Glad you mentioned the questions list NAEBA published. If is unfortunate that few buyers ever ask "Who is the best real estate company to work with when I want to buy a home?" After a long time in this business it seems we can trace back many problems home buyers face to not asking this and other questions like you published above. Thanks for the post! Jon Boyd Broker/Manager The Home Buyer's Agent of Ann Arbor

1. Tom Wemett said at 5:00 pm on Saturday February 7, 2009:
   Mark, thank you for bringing such questions to the attention of the home buying public. Too often home buyers rely on the advice of friends or relatives when choosing an agent to work with. The problem is that the people giving the advice may not even know that home buyer specialists (exclusive buyer agents) even exist. We do and we welcome such questions. Tom Wemett, Exclusive Buyer Agent, The Buyers Representative, Albany, NY

1. Stephen Israel, Broker, Buyer's Edge, Bethesda said at 9:58 pm on Monday February 9, 2009:
   Hi Mark, Thanks for highlighting some of the issues and questions home buyers should be asking. The biggest largely undisclosed issue that homebuyers face is "What happens when some other agent from your company represents the Seller?" This age old conflict between getting the Seller the highest price and best terms for a property AND then also getting the Buyer the lowest price and best terms on a property is the one issue that most agents simply don't want to talk about. Having an exclusive buyer's agent(EBA) is the sure-fire way to eliminate the problem and there are EBA's all over the country. Check them out at the National Association of Exclusive Buyer's Agents - NAEBA.org or give us a call here in Bethesda at 301-657-1475.

1. Buenos Aies real estate said at 2:14 pm on Thursday February 11, 2010:
   I wanted to drop you a quick note to express my thanks. I've been following your blog for a while and have picked up a ton of good information.