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Question of the Day: What makes a great buyer's agent

Asked by Trulia, San Francisco, CA Thu Mar 8, 2012

How does a home buyer identify a great agent? What are some key things he/she does?

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Dear Trulia:

A buyer's agent has a fiduciary responsibility to protect the buyers best interests. A buyer's agent will consult and advise the buyer every step of the way through the transaction. They will help the buyer get pre-qualified if they are seeking a mortgage, show properties and negotiate deals for the buyer. They will be present at the inspection of the house and at the closing as well. Again, their job is to help you and protect your best interests. Here are some things to consider when searching for a great buyers agent:

1) He or she must be an expert in the neighborhood you are looking in with a proven track record of successful sales in the area.

2) He or she must be aggressive so as to make sure you are among the first potential buyers to view all new listings that match your search criteria.

3) He or she must be objective and able to communicate effectively even if they beg to differ with your thoughts.

4) He or she must be a super savvy negotiator.

5) He or she must have a smart phone and be available via cell, text and/or email at all times.

6) He or she must be able to show properties at the times you want to view them!

7) He or she must be able to answer any question you have or quickly find the answer to any question you have.

8) He or she must have integrity and professionalism.

9) You have to feel comfortable with your agent and trust them. Without that it simply will not work.

10) If you have a friend or family member who has had a great experience with an agent, as them for the agents contact info.

Just remember, when you are working with a buyer's agent, make sure you know upfront if you are going to be paying their fee or if they will be collecting their fee from the home seller. Just because an agent is representing you as a buyer does not mean that you have to pay the fee. That is discussed/negotiated between the buyer and agent.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
2 votes Thank Flag Link Thu Mar 8, 2012
Always takes your calls, answers all your questions, Organized and properly advises on how to proceed and conclude your transaction...
1 vote Thank Flag Link Thu Mar 8, 2012
A great buyers agent must have strong knowledge in the subject area, not only with current sales history. Past sales that may reflect how a certain property will perform as an investment in the future. Have the ability to direct the client to useful sites when asked about schools, crimes and other points of interst. This agent should have strong negotiation skills to make the best possible offer that will benefit their client by knowing how to negotiate from the initial offer by identify updates that the home may need when compared to other sold homes in the subject area of interest, Home inspection process ( if neccessary), never let the client fall out of complience to the contract. Have contacts to rely on and offer quotes if home inspection finds defects beyond normal wear and tear of a property. Also have knowledge in basic zoning for permitted future use of the property in question. Last but not least, be honest, be available and listen to your client/ buyer's needs.
Web Reference: http://newenglandmoves.com
1 vote Thank Flag Link Thu Mar 8, 2012
A great buyer's agent is knowledgeable about the prices and trends that are in the neighborhood you are looking in and know how to negotiate the price down a property you might like. A lot of people don’t give a good buyer’s agent any credit and go through a few of them in their journey to buy. My best advice is to stick with one. That agent will know you better than anyone and know exactly what you like by the end of your property buying journey.

A great smile makes excellent buyer’s agent too. :-)
1 vote Thank Flag Link Thu Mar 8, 2012
A great Buyer's Agent is focused only on the home buying process, and will walk you through, step by step. We are familiar with the neighborhoods, schools and amenities; we will search the MLS for you to find appropriate homes, and preview homes for you if necessary, saving you time. Buyers Agents do all your legwork, looking up a property's history, the tax and insurance estimates, and all related issues that may affect your purchase. Buyer's Agents help you organize and structure your home offer, and present the offer to the Sellers on your behalf. Once the offer has been accepted, our Buyer's Agent will be with you every step of the way to negotiate the terms of the contract, set up inspections and assist in the procurement of your financial assistance. We are with you from start to close.
1 vote Thank Flag Link Thu Mar 8, 2012
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