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Mistakes People Make When Choosing a Buyer's Agent

by Wendy Chamberlain

posted in Real Estate

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Buying a residential property takes time and research and sometimes, to succeed in this process, one needs to have a professional agent. Unfortunately, not every home buyer who hires a buyer's agent end up successful.
Here are common mistakes in picking a buyer's agent you need to be aware of.
Not Trusting the Agent
Trust is crucial in any relationship, whether it's business or personal. As such, a home buyer needs to interview first the buyer's agent he or she is planning to hire. Do not hesitate to ask questions, ask for a guarantee and check their references. You may also test their negotiating skills and determine if you're comfortable working with this professional.
The guarantee part is your way of making sure that the agent deserves your trust. In short, whatever this real estate professional tells you verbally, insist that his or her words be put in writing.
Not Signing an Agreement
Many buyer's agents ask their clients to sign an agreement before they start finding that property. Signing this document means the home buyer is committed to working with the agent for a specific period of time.
This agreement usually states the fee being charged by the buyer's agent, when the fee should be paid and other conditions set by this real estate professional.
If you are not ready for a commitment, it is best that you tell the buyer's agent up front and negotiate for a better term. You may also request for a guarantee that will release you from the agreement in case your business relationship does not work.
Failure to Check Credentials
It is a must for any person planning to hire an agent to check the background and credentials of this real estate professional. Avoid choosing based solely on a low commission rate because this only signals poor negotiating skills. You should do your research to find out the reputation of this professional in your locality.
Always ask for references and if possible, check and call those references to confirm what your potential buyer's agent is saying. You can also call the agent's office and inquire about the number of people he or she has assisted in purchasing homes. Do not hesitate to also ask about the real estate associations your agent belongs to.
Research is crucial in being able to find the right agent who can help you find and purchase your dream home. As such, anybody looking to buy a house should take the time to get referrals and check the background of the buyer's agents they have shortlisted.
About the Author: With a passion for all things real estate spanning 18 years, Wendy loves that her role as a Buyer's Advocate gives her buyers an experienced voice they can trust when it comes to negotiating to purchase something as important as their new home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.
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