Family meeting real-estate agent for house investment

A couple of columns ago, I promised an article about questions you should ask your real estate agent so you know they have the experience and know-how to help you get from start to finish. By start to finish, I am talking about your deciding on the area you want to live in and that you are ready to start the process all the way through to closing on the home of your dreams. Obviously, an agent’s experience and knowledge are extremely important in their ability to help you through the process of buying a house.

Here are some questions to ask your agent.

How long have you been in the industry?

This is a great question! Real estate is one of those careers that require time, effort, and chutzpah in order to acquire the knowledge, skills, and capacity to address the tough questions as they come up from either buyers or sellers. Let me be clear: I am not simply referring to whether or not an agent is new to real estate or knows local market values. Although brokers do develop and learn their market more and more as they progress, an experienced agent also has a vast background in local city codes, development regulations, future expansion prospects of different areas, what developments require ARC (architecture review committee) approval, and the expectations of certain developments in terms of what the HOA (homeowner’s association) requires. One important issue that faces southeast Bend right now, for instance, is the septic to sewer process. The city must meet regulations set by the state regarding city sewer hook-ups. This can be a $5,000 to $80,000 bill to current or new homeowners. Not only does this affect southeast Bend, it affects all septic-related properties within the city limits. This is but one example I am scratching the surface of how an agent brings value informing clients of certain issues.

How do I know you are representing my best interests?

When a client asks me how I will represent their best interests, I ask them follow-up questions, such as: “Is there additional information you need me to know moving forward?” “Is there anyone else helping you make this decision?” or “What specific needs do you have that you want me to be aware of?” Based on the client’s answers, I will better understand their particular needs when showing properties and can ensure that I will do my best to meet those needs. This information also helps when crafting and presenting their offer to the seller.

What is your negotiation style?

I believe negotiations begin upon the presentation of an offer. If the agent response is something along the lines of: “I will email your offer to the listing agent and keep you posted,” you may want to ask if they will present your offer in person or how they will present your offer to help it stand out above any others. This is very important when it relates to a multiple-offer situation. Newer brokers need to understand that emailing or texting offers without a follow-up call does not bode well for their client. How will the seller know how serious they are? How does that benefit a buyer who is competing with five other buyers for a home they just fell in love with? Be sure your agent goes to bat for you every step of the way.

What haven’t I asked you that you think I should know?

Pay close attention to how a real estate agent answers this question, because there’s often something else you might need to know. If you haven’t met with a lender or know of a lender, your agent can refer you to a handful for you to call and compare. If you’re a first-time buyer or haven’t purchased in 20 years, your agent can reassure you that he or she will hold your hand throughout the process, providing you with materials that break down all of the steps & explaining the crazy acronyms we are used to! You want an agent who will take their time with you to make sure you feel comfortable and secure with their knowledge and experience. They should know how to listen, how to counsel you, and how to ask the right questions to find out what they need to know to better serve you.

These are only a few questions of many to consider asking your agent. Professional agents are excited to assist and very interested in helping you make the right decision for you. As I have said before, we live here right alongside you and share the same town that you love. Why wouldn’t we want to provide exemplary service? I personally light up like a Christmas tree when I meet new clients, when I get to present an offer, and when I receive an offer on behalf of a seller. It’s a very exciting time to be in real estate!

Happy house hunting, and happy spring!