Questions to ask a good a Real Estate Agent

If you plan on buying a new home, then you need to find a good real estate agent – one that you will love. We recommend doing an interview like you would do if you were hiring someone to work for you, because that’s exactly what the real estate agent will be doing, they’ll be working for you. Except, you won’t have to pay the real estate agent anything out of pocket. This is why you need to take time to come up with good questions to ask a real estate agent. You need to find an agent that really understands you, one that you can trust, and one that you feel confident helping you find the best house for the best price.

Before you start writing down those questions that you plan on asking a real estate agent,  figure out what you need. Are you looking for a real estate agent that is friendly, are you wanting a casual relationship with an agent, or are you looking for a more formal one? Are you wanting a fast, aggressive sale, or are you trying to take your time.

Don’t just look into one real estate agent, do your research and interview different ones. This way, you will be able to find the best one that is suitable for you.

Questions to Ask a Real Estate Agent:

·         Can you summarize your bio, background, and the type of real estate work you normally do?

This is a standard question, but it is still important that you ask it. Here are some things the agent should discuss with you:

·         Years of experience: Negotiating, understanding the local market, navigating the unexpected – these are all things that the best real estate agent will be a professional at doing.

·         Typical client: Multi-millionaires? First-time buyers? Make sure the real estate agents typical client resembles you. Also, make sure they have experience with the type of purchase you would like to make. For example, if you’re looking into buying a foreclosure, or need a certain type of mortgage loan.

·         Buyer’s agent or seller’s: An agent that has knowledge on both sides of the real estate transaction will be great, but you should make sure they have the most experience with buyers.

·         Familiarity with neighborhoods: You’re going for a neighborhood in Myanmar, so you need to make sure the real estate agent is familiar with the area.

On a side note, mrx.com.mm is a great place to go in order to find a great real estate agent, and home listings.

·         How’s your relationship with clients?

This is the person that you will be working closely with for weeks, months, maybe even longer and for this reason, you need to make sure you’re comfortable with them. Here are some areas to cover:

·         Communications: Do they call, email, text, or all three? How fast do they respond to messages?

·         Personality: How does the agent plan on interacting? Are they casual? Do they plan on sending you updates at all hours, or are they more formal and professional?

·         Time spent together: Will they contact you on a daily basis? See them daily? Or is it going to be weekly?

·         Advice: Some agents look at themselves as being the mediator between you and the seller. Then you have others that will go above and beyond, giving you all the advice you need in order to make buying a new home easy on you.

·         What is your strategy as a buyer’s agent?

This is an important question that you do not want to skip past. Each agent will have a different strategy for closing deals. So, you need to make sure the agent you choose has an approach that is suitable for you. If you want to get the best deal possible on your new home, then you will want a tough negotiator. The best traits for you are going to vary based on your own preferences.

·         What is your normal list-price-to-sales-price ration?

This answer is going to require some context. When purchasing a home, you need a real estate agent who is known for ending up with lower sale prices than list prices.

·         May I have three references that I can contact?

You definitely need to get at least three references from the potential agent and contact them. A good real estate agent will be more than willing to give you a list of their references.

Once you have located an agent, it is time to move forward in buying your new home.  Myanmar Real Estate Exchange will be there to help you every step of the way.