A few weeks ago, we introduced the “Consumer Guide: Ten Questions to Ask a Seller’s Agent” from the National Association of Realtor (NAR) to help sellers understand the key questions to ask when selecting an agent. This week, we’re diving into the NAR’s “Consumer Guide to Buyer’s Agents” to help those who are ready to find their dream home.
With expert advice and 10 essential questions to ask, this guide will help you to choose a buyer’s agent who’s a great fit for your unique needs. Whether it’s understanding their market expertise, services or approach, these tips will ensure you have the right professional by your side.
Learn more about how to make an informed decision with this invaluable resource from NAR.
Are you a Realtor?
When you work with an agent who’s a Realtor, you’re working with a professional guided by ethical duties under the Realtor Code of Ethics, including the pledge to protect and promote the interests of their clients.
What services can you provide?
Agents might offer many types of services such as finding you homes that meet your criteria, accompanying you to showings, sharing their analysis of the market and available properties, negotiating on your behalf and more.
How well do you know the markets where I’m searching for a home?
Your agent must be licensed where you’re buying a home. They should also have the market knowledge to help you successfully find a home where you’re searching.
Do you have experience working with buyers in my situation?
Many agents specialize in working with certain types of buyers, such as first-time buyers and veterans. Some also earn the Accredited Buyer’s Representative designation to gain specialized skills in working with buyers. Ask your prospective agent about their experience and any designations or certifications they’ve earned related to working with buyers like you.
Can you tell me about your approach to scouting properties?
Agents and brokerages across Chattanooga have different business models and use and provide various technology, tools and resources to inform their search process. Discuss with your prospective agent how their unique approach will help you find the right home.
What will be included in our written buyer agreement?
Once you’re working with your agent and before you tour a home together, your agent might be required to enter into a written buyer agreement with you that outlines the services the agent will provide you and what they’ll be paid for those services. These agreements are fully negotiable.
How long will we work together?
Talk with your prospective agent about how long you’d like to work together and ensure you feel comfortable with that arrangement. This term could be set out in your written buyer agreement.
What are my options for paying you?
Agent compensation is fully negotiable and can take many forms, such as a flat fee, a percentage of the purchase price or an hourly fee.
The written buyer agreement will contain the amount of compensation on which you agree.
You can also ask the seller to pay your broker’s compensation as part of your purchase offer or, in cases where a seller offers a concession, you might be able to use the funds to pay your broker for the value and services they provided you.
Can you recommend service providers who can help me obtain a mortgage, make home repairs or support other closing tasks?
Your prospective agent might have prior experience or trusted relationships with providers in the area where you’re purchasing a home and can be a great resource for facilitating these introductions.
Do you have references with whom I can speak?
Many agents will be happy to connect you with satisfied clients they’ve worked with in the past who can speak to their experience.
Finding the right buyer’s agent can make all the difference in your homebuying journey. By asking the right questions and partnering with a knowledgeable Realtor, you’ll gain a trusted guide to help you navigate the market with confidence. #ThatsWhoWeR
Founded in 1912, Greater Chattanooga Realtors is the voice for real estate in Greater Chattanooga. A regional organization with more than 2,700 members, Greater Chattanooga Realtors serves Hamilton and Sequatchie counties in southeast Tennessee and Catoosa, Dade and Walker counties in northwest Georgia. The association is one of approximately 1,100 local associations and boards of Realtors nationwide that comprise the National Association of Realtors. Greater Chattanooga Realtors owns and operates a multiple listing service that is one of approximately 600 MLSs in the country and that services more than 3,000 users. Local association membership is composed of Realtors who are servicing the Greater Chattanooga area and specializing in a variety of disciplines, including appraisal, commercial, industrial, land, multifamily, property management and residential. Working alongside Realtors are our affiliate members, who represent related industries in sympathy with the objectives of the association. Our affiliate members include mortgage lenders, home inspectors, title and closing services, pest inspection and control, and insurance.