What Questions Should I Ask?

 As A Buyer:

If you're a buyer, you're looking for someone who knows the market inside and out; someone who can help you find the right house and help you make it yours. Whether you create your list of candidates through referrals, online searching or other means, you must make sure that you are comfortable and can develop a trusting relationship.  If not, get out!

Here are just a few questions to consider asking:

1. Can you tell me about your real estate experience?
2. How familiar are you with the area where I want to live?
3. Do you work part-time or full-time as an agent?
4. Do you have additional training or advanced real estate education?
5. What should I expect when working with you?
6. What kind of information will you provide me on the homes and neighborhoods I’ll be looking at?
7. Can you provide references from at least three buyers you’ve worked with in the past six months?
8. How will current market conditions affect my home sale?
9. What resources will you use to help me find the right home?
10. How will you communicate with me throughout the process?

As A Seller:

Before you sign a listing contract with an agent, make sure to ask questions.

1. Can you tell me about your real estate sales experience?
2. How do you plan to market my property?
3. Do you work part-time or full-time as an agent?
4. What is the right price for this house? And how did you arrive at that figure?
5. How long will it take to sell at this price? What are the average days on market for a house like mine?
6. How will current market conditions affect my home sale?
7. How much should I expect to pay in commission?
8. What kind of communication and/or updates can I expect from you?
9. Can you provide references from three sellers you’ve worked with in the past six months?
10. What happens if my house doesn’t sell in the time we contract for?

As an Investor:

Before hiring your agent to help you invest, make sure to ask questions.

1. Do you have inside access to foreclosures such as RealtyTrac and other foreclosures?
2. How do you research foreclosures in the area?
3.  Do you have a good relationship with agents representing Freddie Mac, HUD, and Fannie Mae properties?
4.  What do you feel are some good investments currently?