Hiring a real estate agent? Ask these 5 questions

Buying a home means working with a variety of real estate professionals. From mortgage brokers and lenders to lawyers and real estate agents, you’ll be connecting with quite a range of people. It’s important to ensure you’re using the right professionals for your buying experience. Today, we’re specifically focusing on finding the perfect realtor. Hiring a real estate agent is one of the most important steps to buying a home, but not all agents are the same. Here are some big questions you can ask to help determine if an agent is the right fit for you. 

How many clients do they have?

Real estate is an industry where time is truly of the essence. With that in mind, your best bet is hiring a real estate agent who has experience in the industry, and also has time for your needs. Of course, you want your agent to know the ins and outs of the market. However, you also need to make sure they have room to make you a priority. If an agent has too many clients at once, you might not get their full attention. However, too few could mean they are not regarded very highly in the industry, or don’t have many connections. It all comes down to finding an agent with the right balance of experience and time for you. This could be a part-time or a full-time agent, depending on how your priorities match up.

Do they know a specific area well?

Your agent should have experience and knowledge about the area you’re looking to buy in. Cities and neighbourhoods all differ in terms of pricing, supply and demand, property type, and atmosphere. An agent who doesn’t know the area well might not be familiar with these ins and outs. For example, if you’re looking for a home in Halifax, it would be best to have an agent who focuses on Halifax. Since agents are a huge part of finding properties and submitting offers for you, they need to have a good understanding of the neighbourhood you’re interested in. 

What budgets do they often work with?

Agents can have a big variety in the types of clients they work with, and the different buyer budgets they handle. However, you want to make sure you’re hiring a real estate agent who has experience finding homes in your price range. For one, an agent who has never worked with your budget will be less familiar with where they might find suitable properties for you. Also, you may not get an agent’s full devotion if they typically work with budgets way above yours. Remember, agents typically get paid a percentage of a home’s price when it is sold. If an agent is used to selling five million dollar homes, they might not devote as much energy to you if you have a smaller budget. 

How can they help you stand out?

We’re in a seller’s market, and Halifax is a popular city for buyers. In a competitive setting like this one, you need an agent who will help you stand out from the rest. Real estate agents should know all the seller’s conditions, and they should have a sense of what other buyers are likely to offer. They might advise you to make a certain offer, arrange necessary inspections to meet timelines quickly, or limit your own conditions. Your agent should be able to move fast, and they should have experience negotiating on your behalf. 

Do they have good relationships with past clients?

Finally, you should do some online research and read reviews before meeting with an agent, which will tell you a lot about others’ experience with them. It’s not just about an agent’s professional resume, either — their personality matters too! They should be committed, transparent, and approachable. You should also be able to ask an agent about their past experiences with clients to get some firsthand accounts of how their relationships work. You need to know your real estate agent is going to be reliable and accessible to you.

When it comes to hiring a real estate agent, you can never ask too many questions. Buying a home is a big moment in your life, and you should have full confidence in the professionals you work with. If you sense any red flags when meeting with a potential agent, don’t be afraid to ask more questions, and move on if the relationship isn’t going to work. 

You should also seek the advice of a mortgage broker during your buying experience! Brokers help you make the most informed decisions, and they can connect you with the best product for your needs. If you have questions about buying a home, feel free to reach out! Give us a call at Centum Home Lenders at 506-854-6847, or get in touch with us here.