As a seller, you’ll probably interview quite a few real estate agents before you decide on which one you want to hire to handle your home sale.
Unfortunately, most buyers tend to not be as diligent as the average seller. It’s not uncommon for buyers to hire a newly licensed agent. Since buying a home is one of the biggest financial decisions and investments you’ll ever make it’s important that you find the best agent to represent you in your purchase.
Here are some important questions you should when interviewing a Buyer Agent, before you hire them.
During the home buying process you’ll be
evaluating various neighbourhoods. The agent you hire will need to quarterback
this process. If they are experienced and knowledgeable with the neighbourhood
you’re interested in, they should be able to:
● Inform you of neighbourhood changes
● Provide information on school quality
● Supply information on the surrounding area such as parks, shopping malls and stores
The right agent will ask you about your lifestyle during the interview process, which may also lead to other recommendations of areas you may have not yet considered.
The buying process is different depending on the type of property you buy. Each property type comes it its own challenges and considerations. Property types you may be considering could include:
● Commercial properties
● Residential homes
The agent you hire should be able to teach about the differences, considerations and challenges of each of these property types.
If you are expecting your real estate agent to handle your negotiations than great negotiation skills are important to you. Since this is not a huge aspect of licensing course in Ontario, you’ll want to ensure that your potential agent has additional training and certifications such as:
● Negotiation Expert Certification/Designation
● Advanced Master Negotiation Expert Certification/Designation
Any agent that has either of these certifications or designations should easily be able to explain their negotiation approach to you. They should also understand the term BATNA, which stands for Best Alternative to a Negotiated Agreement since this is the foundation for a majority of negotiations.
Now if you want to test their knowledge, this a question you’ll definitely want to ask. An experienced real estate agent should know about any and all legal issues that can arise before closing. Your Realtor should know about:
● Closing Issues
● Offers and Paperwork
● Quality of intricate representation
● And much more
How would you approach a bidding war and win?
The right agent should understand the basic requirements of winning a bidding war, which are:
● Deposit cheque
● No conditions
● Relationship with the listing agent
● Showing up
● Having a strategy
If any of the above are missing from this equation, then it’s likely they won’t win the bidding war.
If you’re hoping to hire a Buyer Agent in or outside the GTA, consider Save Max. You can use our agent finder to help you get started in prospecting your potential real estate agents today.