Questions to Ask Your Real Estate Agent

The purchase of a home is a very important step in the lives of many people, and being able to ask the right questions of your real estate agent is critical in obtaining quality services. As with any profession, there are going to be good real estate agents and bad real estate agents. Your focus as a buyer is to decipher whether the person you’re considering as your agent falls into the “good real estate agent” category. You can do this by asking him the following questions and analyzing the answers he/she gives you:

Are you currently licensed by the Estate Agency Affairs Board?

By being a current member of the Estate Agency Affairs Board, your agent is telling you that he has passed the government’s Board Exam and has committed to following a professional code of ethics. Do not just take the agent at his word; ask to see his current membership card. Furthermore, you should follow-up with the Estate Agency Affairs Board to verify his membership status and whether he has any record of past misconducts. The Estate Agency Affairs Board will assist you in case of any disputes with any of their members.

How much experience do you have working in my target area?

An agent who is familiar with the neighborhood and market you are interested in will be able to assist you better than one new to the area. Knowledge of the area is essential for an agent, so that he can pass on that information to his clients. An agent new to the area will not be up to date on properties listed, or other agents in the neighborhood, prices of the homes in the area, or other issues associated with the neighborhood.

How many homes have you sold this past year?

If an agent has not sold any homes in the past year, it is best that you look for another agent. You do not want someone working with you who have not had much experience selling in the target area. Find out what properties the agent has sold and if they can provide references of their service.

How much do you make as commission?

Knowing what the agent will be making in commission is important to evaluate the eagerness with which the agent will help you buy or sell a property. It is crucial that items, such as commission be talked about before moving on to other issues in the buying or selling of a home. The agent’s commission can always be negotiated, but should be done before starting to work with him.

Why should I work with you instead of another agent?

While eagerness to assist you is a good sign in an agent, it should not be the only thing you look for. Expertise should be the one thing you are looking for more than anything else. A professional real estate agent who is familiar with the area, has made sales recently in the neighborhood and has a good customer track record is very important.