There are a number of important questions that individuals can ask before selecting a real estate agent. By asking these questions, Michigan investors can evaluate whether a particular agent is appropriate to represent them in their purchases and sales. Indeed, having the right representative on one’s side can often mean the difference between success and failure when it comes to investment property.
The first question to ask is how long the realtor has been in the field. When it comes to past experience, it is important to find out the number of years the realtor has been working in a particular marketplace. It is also important to find out how many individuals with similar needs are currently being represented by that realtor. Additionally, there is a big difference between an agent who merely works part-time representing friends and one who is a full-time operator.
When fielding potential realtors, also ask the realtor in which geographic area he or she works most. Pinpoint the exact type of property the realtor handles as well. An investor might be looking to buy commercial property, residential property or some other kind of property and finding a realtor who specializes in the particular type that one is looking for is very important.
Another important question involves asking the manor by which the realtor typically communicates with customers. Selecting an agent who can respond immediately to one’s concerns via one’s own preferred method of communication is vital. Any unnecessary communication delays could result in missed opportunities; therefore, savvy real estate investors may wish to find a realtor who can mirror his or her own style of communication.
Finally, when asking questions to realtors do not forget to ask for references from past customers and zero in on exactly how much the realtor charges for his or her services. By getting creative, those making purchases and sales of real estate property for investment purposes may come up with additional and equally important questions to ask a potential realtor. Indeed, being a smart and savvy investor who avoids future legal problems while making profitable transactions is just as much about the questions one asks as it is about making wise business decisions.
Source: US News, “5 Questions to Ask Before Choosing a Real Estate Agent” Susan Johnston, May. 28, 2014
