When deciding to work with an agent, there are certain questions to ask yourself when evaluating a potential agent.
First, you must find out (by asking) if you are a REALTOR®. The term “REALTOR®” is a collective membership trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics (which in many cases goes beyond the state law). In most areas, it is the REALTOR® who shares information about the homes they sell through a Multiple Listing Service (MLS).
Next, learn a little about your potential agent’s license. In California, you can go to dre.ca.gov and do a “license check.” This means that you can see if this person (a) has a license, (b) has a valid license, and (c) who the broker your agent is affiliated with is. All of this information can be very useful. You most likely DO NOT want to work with someone who has a questionable past or has too many open inquiries or complaints. In this age of rampant fraud and dishonesty, and with the mortgage crisis we are currently in, it would certainly be in your best interest to make sure your agent’s license is CLEAN!
Next, find out about your agent’s access to the Multiple Listing Service (MLS). If you are a Realtor®, you most likely have access to MLS in your desired area. If not, you may want to ask him for access before agreeing to use him as your agent. A good agent will do everything possible to ensure your satisfaction. The MLS can be very helpful in helping you locate your dream home.
Now that you know your license and everything you have access to, it’s time to find out a little about your real agent. Remember, this is a person with whom you will be working very closely for an extended period of time. Many escrow deposits are generally 30 days, and some, especially REO’s, are even longer. Remember, you don’t enter the escrow until after you’ve found a home, and it can sometimes take weeks to find the right home, so make sure you’re working with an agent you’re happy with. To get to know your agent better, you may want to ask if real estate is his full-time career. An agent who is not fully committed to his career probably cannot be fully committed to his home search, either.
Additionally, you will want to know if this person you may be considering as a potential agent is in fact the seller’s agent as well. What does that mean? Let’s say you go to an open house and there is a nice agent who is extremely helpful and friendly. Now let’s say this nice agent asks if you have an agent and you say “no.” This person will want to be your agent. However, keep in mind that this agent is the seller’s agent, which means they are the agent who is trying to sell the home you are viewing. You will need to be careful about the type of confidential information you give this agent, because he / she has a fiduciary duty to your client (the homeowner). Therefore, it may be in your best interest to find your own agent. so you can have someone exclusively interested in YOUR best interest, ONLY.
Finally, before making a final decision regarding an agent, you should ask the prospective agent HOW they plan to help you find your dream home. Ask him about his plans, you have a right to know how you want your agent to act to make sure your future home has all the things you want and none of the things you don’t want.