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Choosing a Buyer’s Representative: Questions to ask:
When it’s time to buy a home, it’s also time to select a buyer’s agent to represent your interests in this all important transaction. But how do you choose one? Here are some of the most significant issues to consider and questions to ask when interviewing your Accredited Buyer’s Representative.
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?
Can you share the names and contact details for three past buyer clients who can provide references?
What are your areas of specialized knowledge? Which types of housing or neighborhoods do you know best?
Please explain what representation choices I have as a buyer. What is meant by fiduciary duties? Do you practice dual representation?
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?
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?
Do you have full access to the Multiple Listing Service (MLS)? Will you try to find suitable properties beyond the MLS?
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?
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?
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?
Can you provide referrals to providers of other services related to my transaction, including home inspectors, surveyors, movers, etc.?
FOR BUYERS: SHORT SALE
In your home search, it is possible that you come across a short sale. Since the process of purchasing a short sale differs, I wanted to send you this article that explains the short sale purchasing process. If you have any questions or concerns, please contact me. As an Accredited Buyer’s Representative (ABR®), I have a many resources and can help in any capacity.
FOR BUYERS: PREPARING PROPERLY FOR THE PURCHASE
Buying your first home is a big financial responsibility: not only for the purchase but also for the months and years following the purchase. Being comfortable with your home purchase requires a solid financial plan. I came across this article that has some helpful ideas on how you can create a strategy to buy a home and be prepared to be a comfortable homeowner. As an Accredited Buyer’s Representative (ABR®), helping buyers is my business, so please let me know if you have any questions. I look forward to working with you.