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I use a buyers agent for their expertise in resale and to add another layer of separation between me and sellers agent.
I want someone to objectively tell me what a property is worth without my emotional attachment playing a role, because all real estate purchases should be business decisions.
How many repeat clients do they have? Can I talk to a couple of previous clients?
How many transactions in my price range/ real estate type have you closed in last 2 years?
Are you in good standing with state board? How about lawsuits?
Will you work with my real estate attorney? --this is deal breaker one.
Will you sift properties that do not meet my requirements, so time is not wasted?
Also I'd run a quick google check for newspaper articles or court proceedings to make sure they or their agency is not in some hot water "that everyone knows about" thing.
And have your attorney review any contract you make with buyers agent before you sign it, just as any contract.
Can you explain state agency and the contract of sale to me? That will distinguish quickly how familiar they are with the paperwork. If they can't comfortably get you through those then move on.
You can really do most of the work on the buy side yourself now if you really learn the industry. Caveat being is if you are in a market where you are trying to win bidding wars. I think in those markets, you just need an agent with the right connections to properties as they list.
In my case I am not in a market like that, so I care more about honesty and not eagerness to close deals. That means I scrutinize an agents ability to value properties appropriately and come up with a good offer strategy. I also like agents who are overly conservative in the inspection process to protect my interests. Unfortunately, most agents have an incentive not to fit this mold. You are better off finding a property you really like and then pulling in an agent to help you with paperwork, especially if there is an incentive (like Redfin offers).
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