Planning to buy a home but don’t know where to start?
Having the help of someone with a lot of experience with purchasing a home can positively impact the process. Luckily, you can enlist outside assistance from real estate agents.
Real estate agents act as an advocate that guides you through the process of buying a home. They are experts within your target neighbourhood and can assist in finding the perfect home and provide information that you can’t find elsewhere, thanks to their access to resources.
Real estate agents will also walk you through the transaction process, providing support while you complete your offer, ensuring your contract includes all the proper clauses to protect you.
However, before hiring a real estate agent, there are some questions you should ask to ensure they are the right fit for you.
Ask your agent for some references and go online and look for any available reviews regarding their work. It is always best to get an outside opinion, so you know how they work.
Knowing how your real estate agent is compensated is crucial information to have before deciding to work with them. Buyers do not pay agents commission fees. Instead, sellers pay fees to their broker; then, the commission is split with the buyer’s agent. The percentage varies between companies and markets but is typically around 6% for the buyer’s and seller’s agent commission.
Having an agent that knows the area you hope to move into will ensure you get quick and informed answers to any questions you may have.
Be sure to find a real estate agent who has a lot of experience working with people with a similar price range to you. Agents who sell multi-million dollar homes may not be interested or qualified to sell you a $500,000 home.
Have an agent available to assist with the transaction logistics during work hours and outside of work hours to ensure your needs are met. Also, make sure they are easy to reach so you know you can rely on them if you need additional assistance.
If you plan to buy in a competitive market, ask your agent how they plan to help you stand and chance and get your dream home. Different real estate agents will have varying techniques learned over their years of working in the business that can be incredibly beneficial.
Before working with an agent, be sure to ask who you will be working with. Some may have you work with them directly sometimes and with an assistant at others, which could be jarring and not helpful as their assistance may not be as qualified or knowledgeable.
Full-time agents will provide more time towards working with you, while part-time agents may be less available. If you will need assistance from your agent often, it is best to seek out one who works full-time.
Most agents specialize in either buying or selling homes. Finding an agent specializing in buying or selling can be helpful; however, working with one who works on both sides of the fence can provide additional insight.
An agent working with an excessive number of clients may lead to them not having enough time for you, while too few could also be a bad sign. Be sure to find one who has a fair workload to know they are capable and will still have time for you.
After going through this list, you should have a good idea of how to find the right real estate agent for you.
To learn more about packing efficiently, check out our ‘The best order to pack your home’ article.
