Questions to Ask Your Real Estate Agent

Purchasing a property means you are going to invest a lot of money in it. So it is very important to make sure that it is a worthwhile investment. To help you do this, find a trustworthy real estate agent. Indeed, working with a reliable agent is one of the essential undertakings in successfully buying a home. But, before getting the services of a prospective agent, you should first ask him the following questions.

First, how long has he been licensed as an agent? Check if he has a valid license in selling properties, and inquire about his professional experience. A good rule of thumb is a clean record of five years of selling properties. Make sure too that he can be contacted through email, mobile phone, landline, or in person.

Next, how many homes has he sold last year and what was the average price? The more homes he has sold at a price you determine you can afford the better. Ask him for a list of contacts of former customers for references.

Third, how many buyers and sellers is he presently working with? An agent worth considering is one who has a manageable number of regular clients so he will have enough time for you. Check if he represents both you and the seller. If it is the former, ask if he expects you to pay a commission instead of the seller.

Another question that you should ask is: how much is his fee and what is the commission structure he uses? Most agents derive their income exclusively from commissions. As a good benchmark, your agent should receive a commission of about 3 to 6 percent of the sale price.

Lastly, how can he help you afford your dream home? Your agent should be well-informed about mortgage loan options, tax and insurance policies, and other financing procedures when purchasing your property.