What To Look For In A Buying Agent

Choosing a buying agent is a crucial decision whether you are a first time home buyer or have bought a home in the past.  This is the person who will be working with you throughout the home search and home purchase process so you need to be certain he or she has the knowledge and skills necessary to ensure the entire transaction proceeds smoothly.

Why is the buying agent so important?

The buying agent you choose is important because he or she will be working closely with you through the buying process as well as the closing process to finalise your home purchase.  This person needs to get to know you fairly well to understand what it is you’re looking for in a home so that they can bring properties to your attention and take you through them on showings.  Going out and looking at houses is a very time consuming process, so if your selling agent understands your needs then you are far less likely to waste time looking at homes that are simply not right for you.

The role of a buying agent goes beyond just showing you potential homes, however.  Your agent’s job is to guide you through all aspects of the buying process, including but not limited to:

• Evaluating the pros and cons of potential properties
• Navigating the ins and outs of mortgage financing
• Advising you on pricing of potential properties
• Helping you write offer(s) when you find properties you would like to buy
• Negotiating on your behalf with the seller’s agent
• Guiding you through the steps between offer acceptance and final transaction closing

It’s clear, then, that the choice of a buying agent is one of the most important you will make.

The right questions to ask when interviewing a buying agent

The main reason to ask lots of questions of a potential buying agent is to ensure the person you choose is going to do a good job for you.  You need to talk about a number of things, such as:

Knowledge – What is the agent’s level of knowledge about the unique needs of home buyers?  Is the agent up to date on current first time home buyer programs?  If you have bought a home before, does the agent take the time to learn about that experience and suggest ways to make this new experience better or more successful?  Buying agents with the most knowledge about what buyers want and need are the most likely to be a good fit for your requirements.

Experience – What kind of experience does the agent have working with home buyers?  If you are a first time home buyer, does the agent have experience working with buyers in your position?  How familiar is the agent with the neighbourhood(s) you’re considering for your home purchase?  You’re going to get the best results choosing an agent who has the experience to meet your needs as a home buyer.

Clients – How many other buyers is the agent representing at this moment?  How many sellers is the agent representing at this moment?  Is the buying agent willing to provide you with references to previous clients?   A really good buying agent will have a number of clients at any given time, but not so many they can’t give each client the time and attention they deserve.  Always get references to previous clients and check those references thoroughly.

Whether you are a first time home buyer or have bought homes in the past, a good buying agent takes the time to get to know you and works closely with you throughout the process.  It’s a good idea to interview several potential agents before making a final choice.

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