Interviewing a Buyer's Agent - What Should You Ask?

If you're planning on buying a house, you want a good real estate agent working with you on your side. You don't have to pick the first one you see, make sure you interview at least three agents to see who will work best for you.

Here is a guideline of questions you should be asking your future buyer's agent.

1. How long have you been in the business? Experience is great, but don't discount a new agent either. An agent that has been working the field for some time has a lot of experience under his or her belt. A newer agent might have more time to devote to you, and be more technologically up to speed than an "older" agent.

2. What are your ratios? Ask your interviewees to show you their ratios. You'll be looking for an agent whose ratio is the lowest. This means that the buyer's agent was successful in negotiating the price down for their buyer. Don't hold all of your faith in this, a lot will vary depending on your area and market.

3. Ask how the agent will find your home, and handle your sale. Is the agent active in previewing properties in the area? Does he or she have knowledge about what's on the market? It is important for your agent to be familiar with the properties that are, and have been available, both in the past and the present.

4. Ask for references. Everyone has them; take a look at your agent's. See if you can call and talk to some of the people that have provided the references to ask more questions. Always get permission first!

5. Ask what makes them different from their competition. This is no right or wrong answer for this question. It will vary from office to office, area to area. Just know what you want, and find the agent that serves that the best.

6. Ask to see the documents that you'll be expected to sign. A good agent will have all the paperwork in order for you to review before you're expected to sign it. Especially look for the buyer client contract.

7. Ask for recommendations. Make sure your agent has access to people that you might need through your home buying process. A mortgage lender, home inspector or an attorney, or anyone that might be able to help you. A good real estate agent will be able to provide you with several so you can ultimately pick the one you'd like to work with, rather than recommending just one that might seem like it would benefit the agent instead.

8. Ask about the commission. Even buyer agents get paid, so make sure you know ahead of time what's expected for your agent as far as commission goes. Who will be paying it? And how much?

9. Ask about a satisfaction guarantee. You don't want to sign a contract with an agent you find doesn't work well with you, so see if there is any type of a satisfaction guarantee. A good agent will not hesitate to provide one, and chances are you won't need it.

10. Ask if there's anything else you need to know. Let your agent talk and explain the process, this is a great time to open up a two-way dialogue after the interview. Chances are it will be in this step that you ultimately make your decision on whom to hire.

Buying a house can be quite a process, make sure you have the right real estate agent on your side!