Finding a real estate agent that meets your requirements is an exciting first step on your start to achieving your home buying goals. With thousands of agents to choose from it is important to be selective and to make a choice that will lead you to success in the purchase of your home. Here are a couple questions to ask to ensure that you are choosing the best option for you.
1. Do you offer your buyers incentives for your services?
It is important to find an agent that meets your needs. It also is an added benefit if they are willing to offer you an incentive. For instance, ask your agent if they willing to contribute to a home warranty or are they willing to assist in closing costs.
2. Does your brokerage charge a brokerage fee and what does it go towards?
A brokerage may charge a brokerage fee but it is important for them to disclose why those fees are added on. For example, processing fees are common in transactions but an agent’s job is to facilitate a transaction and part of that role is processing and maintaining documents. With a growing push towards Docusign and Esign technology, there is less of a burden when it comes to processing documents. Ask your agent if the fee can be waved and if not shop around to find an agent who does not have additional costs associated with their services. In one of your largest transactions, your cash should go towards lowering your monthly payment and not towards brokerage fees.
Fact: Agents are paid by a commission in a sale and often times the commission is split with the broker. The commission is typically determined by the seller and the listing agent.
3. Is your agent available to answer questions throughout the process?
Your agent is assisting you in the transaction and communication is necessary through the process. When interviewing agents, make sure to bring a list of questions and concerns and find an agent who is willing to go through the steps with you and keep you informed every step of the way.
4. Does your agent require a buyer brokerage agreement and what does it entail?
Often times your agent may request a buyer brokerage agreement to be signed prior to showing you properties and assisting you on your home search. While it is understandable for an agent to request this, there are a couple items on the contract that you should look out for.
- Is there a fee for terminating the agreement? Does the agent require a fee if you decide to terminate their service? If so, this may be a red flag. A good agent should be able to understand if your client relationship is not working out and be willing to point you in the right direction.
- Are you contractually locked in for a set period of time? If there is a clause stating that they have an exclusive right to work with you for a set period of time be sure to ask them what the process is if you decided to cancel your services with them prior to the end date.
- Do they have a minimum commission that must be paid to them even if the seller does not offer it? If so you may be responsible for the amount that the seller does not pay. It is important for them to disclose this up front.
Are you considering buying your next home and looking for a service that is based on communication, hard work, dedication- and a little extra incentive! We are proud to offer all of our home buyers up to 25% of our commission at closing to go towards closing costs! We also do not have any brokerage fees and buyer broker agreements. We simply strive to provide you with excellent customer service.
Looking to Buy a Home? Contact us today to get started at receive up to 25% of our commission at closing to cover your closing costs! www.AgentChase.com
About the Authors:
Jeff and Smruthi are husband and wife Real Estate Team proudly serving Jacksonville and surrounding. They offer home buyers closing cost assistance allowing them to save. For those looking to sell; AgentChase provides competitive flat fee listing options while providing unbeatable service.
Are you looking to buy or sell? Contact us today at 904-513-8575 or send us an email at different@agentchase.com