What to ask and look for in a realtor?

[maverickfhs]

Since I am planning to start my search for buying a home. What should I ask and look for in a realtor?

Of course, there are reviews and things I can read online. But there are a million in our area, how should I shortlist and pick?

Thanks for the advice and help.

 

[DerbyDave]

Ask others who have bought or sold a home for referrals. People won't be shy about telling you who did a great job or who was a loser. Ask enough people and you may start to see a pattern

 

[sparky123]

I'd look for a "Full-time" realtor. Someone who understands your needs and desires. Be available. Time as a Realtor and how familiar are they w/the area. I'd want someone who has passion and would look everyday for you. Get "pre-approved" and start touring homes. I'd also NOT sign any exclusive agent/buyer papers.

 

[pkunk]

look at Xome.com. I'm listing through them and they're some good deals to be had.

 

[oilpsi2high]

Realtors exist to sell property and make a commission. If you think they have your best interests in mind then you are insane.

They are used car salesmen with nicer clothing.

 

[raytseng]

Originally Posted By: oilpsi2high
Realtors exist to sell property and make a commission. If you think they have your best interests in mind then you are insane.

They are used car salesmen with nicer clothing.


This interpretation is only if you are hiring them as a Buyer's agent or not.
Customarily above is right, that the Realtor is working as a Seller's agent and not for the Buyer as there is more in Selling a house than buying a house..

These days, it's easier then ever for a Buyer to do the work of Buying themselves. Go on the internet and the various real estate sites, and all the listings are there to look. Visit the houses during open house. Find out what you like. The websites all have a lot of the numerical and comparable data too that used to be the secret hidden info.

That being said, if you are serious about being willing to pay to have a Buyer's agent, then what you Pay for should get the service you are looking for.

As you brought up car salesman, it is very similar to car buying. But the comparison is that a the majority of people do not hire a car buying services to work as their agent and deal with the Seller agent even though services exist. The other similarity is also apt that the internet has opened up a wealth of internet info on cars and pricing now where most people can do that legwork themselves and the info about car buying is more open and transparent than ever-if you choose to work on it.

 

[AZjeff]

Well yeah, it's their job. Realtors work for and represent the seller not the buyer. Supposedly. Their job is to sell the property for the best price. What you're thinking of is a buyer's agent. Search the term and see if there are any in your area.

raytseng beat me to the click.

 

[raytseng]

Most realtors will do work as a Buyer's agent. There's not a special different license or specialty you look for; just that their principal is YOU and not the Seller.
The work is similar, when you buy, typically you sign allow the sellers agent to be a double agent but with the knowledge that this is to reduce cost reduction.

When you get started, you should have a signed contract indicating Buyer's Agent-if this is indeed what you are looking for and willing to pay extra for. Contracts should also be standard contract forms, not something they whipped up. Review and talk over what their commission gets you and what services you want. Negotiate and understand what you want in a Buyer's agent.

Talk over if you expect them to find and handhold you through houses they pick, or if you can go look and visit houses by yourself on the internet, and all you need is crash course on that and final representation when you identify something you like and comes time to make an offer and closing a deal.
I would say the main thing to is go with a Realtor that highly knows the area and has been around for awhile. They should be fairly tech savvy as listings are all online. So their office should have modern looking computers with people actively doing most of the work on computers. If they are browsing listings in magazines and newspapers, move on.

 

[Oldtom]

I have bought 4 houses at this point. I would NEVER consider buying another without a buyers agent. A realtor representing the seller tried to sell me a house with major structural problems, as in some day the house will slide into the valley. The home inspector caught the problem and we walked away. I believe the realtor scum knew about the problem and concealed it. A retaining wall had been freshly coated with stucco and painted to hide the fact the wall was sheared off and ready to fall over. The realtor offered a couple thousand off the price. Use a buyers agent and get a GOOD home inspection. Good home inspectors are usually some old geezer who worked construction until health problems forced him to quit.

 

[SteveSRT8]

I'm with Oldtom above. A real full time realtor can protect you no matter which side of the transaction you are on.

Realtors tend to specialize. Once I learned this my home buying AND selling became much easier and more pleasant. Plus a good realtor will actually save you money, especially on complex transactions...

 

[Mr Nice]

Originally Posted By: SteveSRT8
I'm with Oldtom above. A real full time realtor can protect you no matter which side of the transaction you are on.

Realtors tend to specialize. Once I learned this my home buying AND selling became much easier and more pleasant. Plus a good realtor will actually save you money, especially on complex transactions...


I agree.

 

[SteveSRT8]

Originally Posted By: Mr Nice
Originally Posted By: SteveSRT8
I'm with Oldtom above. A real full time realtor can protect you no matter which side of the transaction you are on.

Realtors tend to specialize. Once I learned this my home buying AND selling became much easier and more pleasant. Plus a good realtor will actually save you money, especially on complex transactions...


I agree.


Thanks. It's become a real problem since so many part timers are so unprofessional. Almost ruined the whole group!

But there are some real pros. Typically specialize in some sort of area like larger estates or rental/flips. Good luck to the folks out there who need one...

 

[supton]

I've only used a realtor once so I can't weigh in. But I'd say, do your homework about houses in general. Stuff to watch out for, problem signs in the house, etc. No one else has your best interests in mind like you do.

 

[maverickfhs]

Thanks very much guys for all of your valuable inputs and suggestions.

Of course, I'll do all of my homework in terms of an agent, area and house. Not going to rely ONLY on the agent.

Thanks again

 

[Donald]

Unless you get a "buyer's agent" the realtor works for the seller. Very important to remember.
Keep all discussions to business. Do not let them know information about how quickly you need to buy or how much money you make. All that info will be passed to the seller with your offer.

Less personal information = better price you will pay.

 

[raytseng]

one more thing is that the title Realtor is s trade organization membership not direct 1to1 term for a person with real estate license.

if you go to a person that is a Realtor (registered trademark) it means this person lives up to higher standards and requirements (including ethical ones) to stay a member. you can think of it a little like toptier fuel or at least a namebranded gas station. not a guarantee, but less likely to be shady

 

[Wolf359]

Originally Posted By: raytseng
one more thing is that the title Realtor is s trade organization membership not direct 1to1 term for a person with real estate license.

if you go to a person that is a Realtor (registered trademark) it means this person lives up to higher standards and requirements (including ethical ones) to stay a member. you can think of it a little like toptier fuel or at least a namebranded gas station. not a guarantee, but less likely to be shady


Well you basically pay a fee every year to be known as a Realtor. Other than that, you're supposed to take a class once every 4 years and it's just a 4 hour class. That's all that's required to be a realtor, but you're also supposed to follow their code of ethics.

 

[raytseng]

yea it's dorsnt seem its that hard to be a chevron station either.
does every chevron have clean bathrooms and clean working squeegees? no, but most do.
but the point is those requirements weeds out the part timers that other folks talked about
btw each state's requirements are different both for license and realtor membership.

 

[Californiabob]

if you have to sign anything, limit it to 30/45 days with written agreement to extend.
Remember these guys get half the commission for doing a lot less than the seller's agent.

have any offer contingent on home inspection. use someone who's been around not a newbie
who disappears when there's a leak.

check out the appraiser on the seller's side. these are as sleazy as the best. they can
appraise wrong (not understanding about a planned development and pricing your home at
the condo level, plus others) - call a bunch of appraisers and ask for good and bad refs.

get your entire wish list together up front and pass to all eligible buyer's agents. and
quiz them. 9 foot ceilings, finished basements, screened porch, etc. look for agents who
are marathon runners and treat each customer like they were their mothers and dependent on
the sale to feed their kids.

 

[Wolf359]

Originally Posted By: raytseng
yea it's dorsnt seem its that hard to be a chevron station either.
does every chevron have clean bathrooms and clean working squeegees? no, but most do.
but the point is those requirements weeds out the part timers that other folks talked about
btw each state's requirements are different both for license and realtor membership.



Well the realtor fees I pay are broken down by the local, state and national level. So every Realtor is at least paying a specific fee to the national board. And yes, I suppose that weeds out some people who are too cheap to pay the roughly $500 a year I pay.