How to find a buyers agent (RE agent, commission, sales, annual fee)
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Ok, so I'm in San Diego and looks like we will be moving to North Carolina next year. This will be our first home purchase, we have no debt, an 800+ credit score and in very good shape for a down payment. I make a very good salary and been with my employer 10+ years.
I have never even looked into this whole process, but was told to find an Accredited Buyer's Representative. I've looked on Realtor.com and sorted by the areas we want.
I've searched here and can't find my question. Are there questions to ask each agent to find the right one? Is there anything I should look for or request? Any advice for finding the "right" agent?
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Unless you have a family or friend who might know a good realtor in NC, I suggest you call some Real Estate firms before you get ready to relocate and interview them and confirm that they can act as a "buyer's agent" for you. If you don't feel comfortable with a particular agent, keep calling around and ask questions.
The ABR is a super easy designation to get and I personally wouldn't use it to find a buyer agent. I went through that class when I was a member of NAR.
I would private message MikeJaquish on this forum. He is in Cary, NC and might know a good agent where you are going to be.
The ABR is a super easy designation to get and I personally wouldn't use it to find a buyer agent. I went through that class when I was a member of NAR.
I would private message MikeJaquish on this forum. He is in Cary, NC and might know a good agent where you are going to be.
I agree on both counts. These designations that NAR doles out can be earned by anyone with a pulse. I wouldn't use the presence/lack of a designation like ABR to judge an agent.
Mike has always struck me as very knowledgeable and a guy who puts his client's needs first. I'm sure he must know an agent in the area of NC you're looking at who is cut from the same cloth.
I agree on both counts. These designations that NAR doles out can be earned by anyone with a pulse. I wouldn't use the presence/lack of a designation like ABR to judge an agent.
Mike has always struck me as very knowledgeable and a guy who puts his client's needs first. I'm sure he must know an agent in the area of NC you're looking at who is cut from the same cloth.
Thanks to both you and silverfall. I'll do that. I had no idea that designation was so easy to get.
Thanks to both you and silverfall. I'll do that. I had no idea that designation was so easy to get.
Most of these designations are about sitting in a class room (or watching a video) for X hours and then taking a multiple choice test. The ones I've taken some of the instructors went out of their way to highlight the material that has test questions in it. Many have no continuing ed requirement to maintain. You just have to pay an annual fee. The whole thing is a joke if you ask me, but that's an entirely different conversation.
Are there questions to ask each agent to find the right one? Is there anything I should look for or request? Any advice for finding the "right" agent?
Just think about it as a job interview where you are the hiring manager. What questions would you ask for job applicants? What information could they give you that you think is relevant to how well they would perform the job?
You can probably find example lists by Googling, but what you want to find out mostly fits into the following broad categories: What skills do they have? How much knowledge and experience? How much do they charge?
In each of those, you are looking for what differentiates this agent from other agents and how well they fit your needs. Remember to also ask for and check references.
If you are looking for an actual Buyer's Representative, you will have to find one that is not a salesperson and does not work on commission for the seller. Unfortunately that is in defiance of the entire business model, "buyer's" agents are salespeople that will sell you any listing on the MLS, compensated as a sub-agent of the listing agent, and possibly FSBO that are willing to pay them a commission. "Buyer's" agents, a.k.a. Selling Agents are pretty much the antithesis of a Buyers Representative.
If you want to use one, they will primarily provide you some convenience as a single point of contact and hopefully give you access to some additional information, but you need to fully verify any information and advice they provide from outside sources. You also need to play it close to the vest on how much you can afford, despite the contract they can still give you a hard sell to buy at your maximum or give you a hard sell to try to close a deal, whether that deal is right for you or not.
As for questions, ask what credentials they may have to augment the due diligence process, dig deep. If they have a professional services compensation arrangement, assuming they have credentials to add value on the buying side, if you choose to look at a buy a FSBO instead of going after you and/or the seller for a sales commission. You can check references, but if you don't know the references personally and have a general idea how they handle their finances, they are of pretty limited value essentially the same thing as an online testimonial/review.
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