When someone is considering purchasing a new home, the idea of a real estate transaction may seem simple enough at first. In reality, homebuying is much more difficult than it may seem. It is always a good idea to utilize the services of a licensed real estate agent when considering an investment in a home. Better yet, use a Thrive agent!
Using a licensed real estate agent will allow the buyer to remain informed about exactly what must be done at every step during the home buying process. The question now becomes; how does a homebuyer qualify the real estate agent? What questions should the home buyer ask to find out about the Realtor and their qualifications?
The real estate agent is hired to do a job. Anytime someone is hired, it is necessary to ask certain questions in order to find the best person for the job. A good place to start is by getting references. Here are some of ours.
The seller will usually pay for most if not all of the fees, especially those incurred by the real estate agent. It is still necessary for the homebuyer to ask about any fees that may result in out of pocket expenses. Frequently, the buyer pays for a home appraisal, inspection, and other fees as well. Asking the Realtor about the fees which the buyer will be expected to pay before hand, will give insight as to how much cash on hand must be available to complete the home purchase.
It is very important that the Realtor is familiar with the areas where the homes are. Knowledge of the neighborhoods is important to the homebuyer so that their specific needs can be met with the real estate transaction. This is an especially important qualifying question if the home being purchased will be used as a primary residence for the homebuyer.
Here are several interview oriented questions you should ask:
- Ask for a copy of their resume – if the Realtor does not have one, that’s a red flag.
- Ask for a copy of their testimonials – if the Realtor does not have a substantial amount, that is a red flag.
- Ask for a copy of their home buying system – if the Realtor does not have a systemitized method that can be shown to you, that is a red flag.
- Ask for a temporary home search account so you can evaluate their home search tools – if the Realtor doesn’t have one, or it is tough to use, that is a red flag.
- Ask what are their areas of expertise – if the Realtor says “everywhere”, that is a red flag.
- Ask them about fees – the Realtor should be able to give you a clear, no nonsense answer about fees, if they cannot, that is a red flag.
- Ask them if they are a Thrive Realtor – if they are not, that is a red flag (to us)!