Get Sold on a Buyer 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 quickly move on and off the market. An agent also keeps you legally compliant and informed 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 real estate professionals.
   • Look around your neighbourhood. Is the same for-sale sign in every other yard? Call this agent and arrange an interview. Ask your neighbours about their experience with that REALTOR®.
   • Use the Internet.
   • Ask a neighbour or friend. Who sold them their home? Who would they hire if they decided to sell? What have they heard about local agents?
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. Also, there are some specific questions you may 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 Canadian Real Estate Association. 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 a written arrangement from the beginning.

   • "How quickly can I expect 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 dual agent. Find an agent who can truly represent your interests. You may want to consider hiring a Buyer's Agent.

   • "Will you give me your honest feedback?"

     If you can't find your dream house because it simply doesn't exist at the price you've quoted, you need more options. A strong agent will be honest with you, helping you to set realistic goals. You will 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. Make a point of asking the agent what each one means.

5. Find an agent who is savvy about technology.

   Through the online tools available to 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, know what the term "Disclosed Dual Agent" means.

   Try using a Buyer's Agent to represent you.

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 that meet your needs.

9. Select a strong negotiator.

   You want a strong negotiator on your side. 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 pays the real estate professional's commission, but don't assume this will be the case. Ask what your financial obligations are throughout the process. Buyer's agent must disclose their remuneration.