Questions to Ask a Buyers Real Estate Agent
Below is a great question list for all Edmonton new home buyers. Purchasing a home is one of the largest investments you will make in your lifetime. Choose your REALTOR carefully. Don't be afraid to ask questions.
What type of properties do you mostly sell?
- Purchasing a single-family detached house is different than buying a condominium, new builds or luxury properties. It is important that the Edmonton Real Estate Agent you choose has in-depth knowledge of the type of property you are planning on purchasing.
What is your negotiation style and experience in multiple offer situations?
- Even in a buyers market, you may be in a multiple offer situation and great negotiating agents have personalized techniques for winning bidding wars. Some agents can be too aggressive and will lose due to their unlikeability, other agents can be too passive. Choose a real estate agent who is creative and on your side.
How many homes did you sell last year?
- This is a very important question. The average real estate agent in Edmonton sells about 8 properties a year. Some agents will sell over 100 properties per year. If you want a REALTOR® who will spend time with you, is knowledgeable and experience, choosing a real estate agent who sells 25-50 homes a year is your best bet.
Do you have other professionals you work with on a regular basis?
- Again, another very important question. Agents have relationships with other real estate providers and depending on how this question is answered, it will give you an insight on how long they have been in real estate, but more importantly on how they conduct their business.
Are you full-time real estate agent?
- Not all Real Estate Agents are full-time REALTORS®. You don’t want someone doing this part-time or as a hobby. Looking at properties for fun is not the same as having fun when looking at homes. When viewing homes, great Edmonton real estate agents will point out the flaws of each home and they all have them, not commenting on how pretty the bedroom is set up.
Do you normally work in my price range?
- Most Edmonton real estate agents work a wide range of prices, but if they usually help home buyers purchase million dollar homes, you might not be a top priority. Similarly, if you want to purchase new build homes and they normally work on older properties, the agent may not have the right connections for Edmonton home builders.
Will I be required to sign a buyers brokerage agreement?
- If any Edmonton Real Estate Agents answers "No", find another REALTOR®. The Canadian Real Estate of Alberta has mandated to work with all residential buyers under an agreement. There are 2 types of agreements - Exclusive & Non-Exclusive.
Do I have to work with your recommended service providers?
- If the agents say “yes”, it’s illegal. Find another REALTOR®. Good real estate agents in Edmonton should have solid recommendations for other service providers, but you should never feel pressured to use their recommendation. A good agent doesn’t do everything on their own. They have a team of other professionals including mortgage brokers, home inspector, contractors, Conveyancers, real estate lawyers, etc.
Can I review all documents before I sign them?
- A good real estate agent will take the time to explain the documents and provide you with ample time to review important documents. Never feel pressured into signing. Real Estate Contracts are a binding agreement and it is important you understand them thoroughly prior to signing.
Do you use e-signature or DocuSign?
- An e-signature is an electronic signature and gives you an indication of how internet savvy the real estate agent is. electronic signature also eliminates the need to print, fax, scan, and ship documents and are time documented. During this conversation, your agent will also mention auto-prospecting, which is a system to keep you updated the moment a new home which meets your criteria arrives on the Edmonton or surrounding area market.
How long have you been a licensed real estate agent?
- This question is one that cannot be missed. Experience in the real estate industry is important. The longer a real estate agent has been selling real estate, the more transactions they have likely completed.
Do you attend the inspections?
- Inspections are a contingency or buyers condition when purchasing a home. If any real estate agents in Edmonton or the surrounding area, tells you don't really need one, find another REALTOR®. You may think an inspection for a condominium or a brand new property is a waste of time and money, but have an inspection can save you thousands of future dollars and find unforeseen issues. New Home warranties have limitations.
How will I know how much to offer when I find a home?
- Listen carefully to how the real estate agent answers this. If the REALTOR® pulls title and does a buyer's Comparative Market Analysis or CMA, congratulations, you have found yourself a great Buyers Real Estate Agent.
Feel free to contact us if you have any questions or need help with purchasing your dream home.