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Ask the following questions before you agree to work with any "Buyer's Agent"

 

1.     What specific training have you had in representing homebuyers?

Many agents have had no training at all.  See if they talk about specific buyer agency and negotiation classes.

2.     What certifications in Buyer Agency have you earned?

Certifications include the ABR, ABRM, CBA, CBB, CBR, CEBA, MCBA

3.     If your office also represents sellers, how do you handle conflicts?

Conflicts would not occur in offices that represent buyers only.  You need to know exactly what will happen.

4.     What happens if I want to buy a property you have personally listed?

It’s bad enough if the seller is being represented in the same office, but by  the same person is a huge conflict.

5.     How does your approach differ from other real estate salespeople?

A true buyer's agent will not think of themselves as a sales person.  What will they do differently from others?

6.     Will you show me "entry only" and other discount listings?

Many agents will not show these listings becasue of inconvenience and they are afraid of the liability.

7.     How aggressively will you pursue For Sale By Owner homes for me?

Many will just not go after FSBOs.  Maybe, if you found it.  But EBAs will be aggressive in finding FSBOs for you.

8.     What other properties will you show me which are not in the MLS?

Most agents avoid shoiwng Foreclosures, Expired Listings,  and Properties not currently on the market.

9.     Name six fiduciary services and tell me how you’d provide them to me?

Obedience to your instructions, Undivided Loyalty, Full Disclosure, Confidentiality, Accountability, Due Diligence.   

10.     What help will you provide me in the lending process?

There is conflict with an in-house lender.  Will  they help you shop rates? 

11. Give examples of how you will save me time, money and problems?

Save money on price, inspection issues, loan, attorney, insurance.  How are time and money savings  provided.

12. How can you really be working for me if the Seller is paying you?

Getting paid a percentage of  the purchase  price is a conflict.  How are they  paid?

13. What state and national buyer agency associations do you belong to?

Mass Association of Buyer Agents, REBAC, National Association of Exclusive Buyer Agents.

14. Tell me how you protected and negotiated for your recent buyers?

A good  agent will have immediate illustrations from recent purchases. 

15. Explain your role in the Home Inspection process?

Will they recommend someone?  How about different types of inspections?  Negotiate inspection issues? 

16.  How will you help me know if, when, and how much to offer.

Will they help you walk away from a bad purchase.  What will and won’t they tell you about your offer?

17.  What if another buyer in your office wants the same property I want?

Will they make you compete to see who will pay the most?

18.  What if you as my agent have another buyer who wants it? 

How are they going to give undivided loyalty to both of you?

19. What unique skills and experience do you bring me?

How experienced as a Buyer’s Agent?  Appraisal or lending skills?  Contractor experience?