Find the Best Real Estate Agent

June 11, 2019 scroll to read ...
Asking your real estate agent these questions can help you quickly decide whether they are the best fit for you when purchasing your next home.

Why you need to find a GREAT Real Estate Agent to represent you


You wouldn't hire someone off the street as a financial advisor, and you shouldn't trust just any Realtor with the purchase of your new home. Your home is not only the largest investment in most people's lives, but also where you and your family will live, day in and day out for years to come. A real estate agent shouldn't just help you to find a house (in fact, you're probably just as good at searching for homes that meet your needs as they are) but guide you, educate you, and protect your interests through the entire transaction.


One other thing to remember is that while a Buyer's agent is paid for their services, they are paid through the Seller's broker, and the Seller's broker are going to collect the same amount of money regardless of whether they pay anything to a buyer's agent. So it is really in your best interest to have representation as a buyer as there should be little to no cost to you as a Buyer.


Across most of Connecticut, where I hold my license, there are more agents with active licenses than there are homes for sale. And it is only a small fraction of those agents who have those listings and sales. While this does not hold true across the entire country, it helps to illustrate the fact that there are ton of real estate agents out there, and most with little to no experience. That's not to say that you shouldn't use your friend's daughter who happens to be a real estate agent, but that you should still ask her several questions before blindly agreeing to work with her.


I am not here to tell you where to find the best agents... a quick google search with "Best Real Estate Agents" and the town you are searching is good starting point, or you can look to friends and family who in the business; but instead I want to make sure that once you've contacted an agent that you are prepared to figure out whether they are the best agent for you.


You can have a perfectly smooth transaction with an inexperienced agent, but can they support you when things don't go quite as planned? That's why I've developed these 10 questions that everyone should ask an agent before agreeing to work with them, and 3 more questions that you should ask yourself.


10 Questions to ask a prospective real estate agent


1. How do you communicate with your clients? 

A good agent will always keep you up to date as your deal prHow to communicate with your realtorogresses, communicate with you via whatever means you choose, and when you choose. Some agents out there keep a 9-5 schedule, but that is not when most people are available to search for home. My agents and I answer calls well into the evening, and make ourselves available on weekends to come out and show you homes. In fact, we prefer to take you out as opposed to sending you off to open houses, it allows us to show you the good and the bad as we walk through the houses. Which brings us to the next question...


2. Can you help me to identify problems in homes before we put in an offer?

Furnace or Boiler?What you really want to be asking here are specific questions that test the knowledge of the agent. You want your agent to be able to point out areas of the home that might be of concern. You can ask questions like, what are the different kinds of septic systems we might encounter in our search and how do they differ? or, Can you explain the difference between a boiler and a furnace? If they are unable to answer questions like this, that are relevant to homes in your area, how will they be able to identify the age of equipment, equipment life expectancy, or underlying issues that may not be immediately obvious to someone walking through the house.


3. What is your approach to negotiations?

The answer to this should be along the lines of "I always negotiate in the best interest of my clients. To get themStrong Negotiator a fair price for their home based on all of the facts available. I will push as hard as I need to, but will also provide my professional opinion and advise you as to what I feel is appropriate." Agents who say that they will "fight for every last penny" and "do whatever it takes", are far more likely to spoil a deal than to help bring you to a successful closing. And agents who only want to close the deal, aren't likely to get you the best price for your home. You want to find someone with experience and knowledge to go in and fight for you, but also be able to read the situation and know when enough is enough.


4. Can you provide me with a list of references?

It goes without saying that an agent who won't provide you with a list of references is probably trying to hide something. You want an agent on your side who is always honest with you. Everything should be transparent, and agents make mistakes. Make sure that your agent is big enough to admit to those mistakes and keep you informed throughout the process.


5. How will you make sure that I don't miss out on a great home? 

While a Realtor can't guarantee that they will get you into every house on the market that meets your needs, they can make sure that homes you have seen don't vanish before you have the opportunity to put in an offer. A soon as you tell a good agent that you are interested in a home, they should contact the agent representing the seller to let them know that you are considering placing an offer. This gives the seller's agent an opportunity to let your agent know that other offers are pending, have been received, or more generally about what the seller's want in terms of timing and how willing they are to negotiate. Your agent should also tell you when they think that you have a great opportunity with a well priced home, as well as when they think that the price is unreasonable and that you should walk away or place a low offer.


6. What should I expect this whole home buying process to look like? 

Depending on your circumstances, Real Estate Processbuying a home can be quick, or take several months. Either way, you want to find an agent who can walk you through the typical process and help to set your expectations about timing and all of the steps that you'll need to go through on your way to home ownership.


7. There is a lot to buying a home, do you have people who can help with things that you can't?

Agents should develop a list of preferred contractors, attorneys, mortgage brokers who they know and trust to do good work for their clients at reasonable prices. Legally, agent's are not allowed any sort of kickbacks from these individuals, so the agents are not referring these individuals out of self interest, but the interest of their clients getting great service. 


8. What problems have you encountered in the past?

This is an interview, and much like "tell me about your greatest weakness" this is less about the problem that the agent has faced and more about how they have handled it. You want an agent who can deal with adversity and keep things afloat when your deal hits an iceberg. An agent who tells you that they have never run into a challenge is lying to you. There are challenges with every deal, some more significant than others, but again, this is about how they handle the problem. 


9. How will you protect my interests in this process? 

The core responsibility of a licensed real estate agent Protecting your Interestsis to protect their client in the purchase or sale of a home. They will call out any unscrupulous behavior of any party. They will tell you if they think a house is overpriced, before you make an offer. They will also align you with other professionals who they know to uphold the same level of service and standards to ensure the best experience for you throughout the entire process.


10. Is there anything else that I should know about you that we haven't discussed?

It's okay for an agent to say that you've discussed everything that they can think of at this point, but now having been peppered with questions, it allows them to bring up anything that may have come to mind and was missed in their initial pitch to you.



3 Questions to ask yourself when deciding on a real estate agent


1. What am I looking for in my home? 

It is always good to have an idea as to what you are looking for in your next home before contacting an agent. Your wants and needs should be clearly laid out, and you should know how much you can afford. Remember, it's not just the mortgage that you need to take into account, but also the local taxes. You may want to read this article on Mill Rates in Connecticut to better understand how much taxes can impact the affordability of a home. By having a clear picture of what you are looking for, an agent should be able to offer recommendations on towns and neighborhoods that best suit you, and may have knowledge of currently listed homes that could be a great fit.


2. Do I see myself working well with this agent, and do I trust them?

No matter how well an agent answers your questions and presents themselves, you need to be comfortable working with them. If they are too overbearing you may be uncomfortable over the coming months or even feel uncomfortable, or if you feel that they don't have the confidence to stand up to other agents or lawyers, you may be taken advantage of. Again, this will be your own assessment, but given that you're likely to spend a fair bit of time with your agent, and need their support in the purchase of your home, it's best that you find someone that you like, and trust.


3. Did this agent just take me to a home before we ever met?

It's easy for an agent to get excited about a new potential client and want to take you out and show you homes right away, and looking at homes is what you want too, but take a step back and think about it...you are meeting this agent for the first time and have not had a chance to assess whether you actually want to work with them. You should not be put in a position where you work with an agent because you feel obligated based on the fact that they showed you a house. Get to know your agent first, and if it's not right, take an extra day or two and find the agent that you want representing you.



Summary


In short, given the nature of real estate purchases, it is important to find a Realtor who you trust and who has the experience and know how to make your transaction as smooth as possible and get you into your next home.


By having the questions provided in your back pocket, or some version of them, you should be able to quickly determine whether or not the agent is exemplary or just another one of the 1.3 Million licensed agents across the US who have passed their tests, but really don't know what it takes to become a top real estate agent. 


If you have any additional questions about finding an agent, real estate in general, the Towns in Fairfield County, Connecticut or if you are ready to start the search for your next home, please feel free to contact me. My agents and I are here and ready to help you with all of your real estate needs.


20 Windy Ridge Place Wilton, CT 06897