Monday, November 29, 2010

When it’s time to buy a home, it’s also time to select a buyer’s agent

When it’s time to buy a home, it’s also time to select a buyer’s agent. This is so critical to be represented with your interests in this all important transaction. But how do you choose one? First and foremost not all buyers’ agents have gone through the extensive training, or hold the credentials of a REBAC agent. Here are some of the most significant issues to consider and questions to ask when interviewing your Accredited Buyer’s Representative or for any agent you may be talking with. As my motto says “Not all agents are equal” and this is so true. If you ask agents that right off the top of their head can’t answer these simple questions below then you should run! If I had to add some other questions it would be "how much is your agent investing in their own business'? Visit the Kaiser Team Web Site and you decide how to answer the above question. Choosing a Buyer’s Representative Questions to ask: Experience and Credentials How long have you been a buyer’s agent? How long have you been an Accredited Buyer’s Representative? What other real estate designations or credentials do you hold? References Can you share the names and contact details for three past buyer clients who can provide references? Knowledge What are your areas of specialized knowledge? Which types of housing or neighborhoods do you know best? Representation Please explain what representation choices I have as a buyer. What is meant by fiduciary duties? Do you practice dual representation? Services Provided Please explain how you will assist me at each stage of the transaction. Do you have a written buyer representation agreement that details our obligations to each other? Compensation How will you be compensated? If I hire you as my buyer’s agent will I be subjected to any additional costs in my transaction? Finding Properties Do you have full access to the Multiple Listing Service (MLS)? Will you try to find suitable properties beyond the MLS? Personal Support Will you handle all aspects of my transaction, or will I be working with assistants? Who will be explaining the various forms, agreements and steps required to reach closing? Negotiating Will you counsel me on a negotiating strategy and appropriate contingencies? How will you package my offer to the seller? Will you personally present my offer? Financing Will you provide guidance on affordability, mortgage options and how to choose a lender? Why should I consider becoming pre-qualified or pre-approved on a mortgage? Related Service-Providers Can you provide referrals to providers of other services related to my transaction, including home inspectors, surveyors, movers, etc.? The Accredited Buyer’s Representative (ABR®) designation is awarded by the Real Estate Buyer’s Agent Council (REBAC), a subsidiary of the National Association of REALTORS® (NAR). To learn more about REBAC and access various homebuyer resources, please visit To learn more about Brevard, Hendersonville, Asheville and surrounding areas visit our web site and our blog to find out the latest in Real Estate updates, tips, tricks and what to ask, When is it best to buy NC Real Estate as well as do a Real Estate Search. Better yet just give me a call at 828-421-0375, Jewell and I look forward to hearing from you and taking care of all your Rentals and North Carolina Real Estate Needs!

Posted via email from jaykaiser's posterous

No comments:

Post a Comment