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3 common pitfalls when choosing a buyer's agent
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Erin Eicher
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Updated Mar 14, 2022
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Chapter 1
Audio Transcript
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00:01 - 00:03
in a real estate market like this,
00:03 - 00:09
it seems like everyone either knows a real estate agent or is a real estate agent.
00:09 - 00:11
But just because the name is familiar to you or someone,
00:11 - 00:15
you know that doesn't mean that they're the best fit to help you find a home.
00:15 - 00:19
Hi, this is Aaron Iker managing broker with re next Clinical and Durango
00:20 - 00:23
Today. I want to cover the three most common pitfalls
00:23 - 00:25
that you might find yourself in when looking to hire
00:25 - 00:28
a buyer's agent to help you find your next home.
00:28 - 00:29
Number one,
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not totally understanding what their availability is to show homes,
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this seems so simple.
00:35 - 00:36
But the people who have been in the business
00:36 - 00:39
the longest are typically also the busiest and the
00:39 - 00:42
people that are new to the business may have
00:42 - 00:45
more availability but may not have the necessary experience.
00:45 - 00:48
So how do you understand who's going to be there for you when
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you want to see the house that just came on the market?
00:51 - 00:53
Listen, things are moving incredibly fast right now.
00:53 - 00:58
So availability of an agent is actually really important right now.
00:58 - 01:03
And even though you may pick an agent who is top of the market extremely busy,
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they may be partnering with someone else who
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can be more available to show you property
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are, do they have the necessary tools and resources when it comes to seeing homes
01:12 - 01:16
to make sure that you don't miss the perfect house when it comes on the market.
01:17 - 01:18
Second common pitfall,
01:18 - 01:22
not asking a virus agent how they get paid.
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This seems like such a simple thing.
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However, in most cases, sellers have negotiated with their listing agent,
01:30 - 01:34
the amount of commission that will actually be paid to the buyer's agent,
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here's the trick.
01:37 - 01:40
Buyer's agents will use this to try and convince you as a buyer
01:40 - 01:42
that you're not paying for it.
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But as with any commodity or product or service out there,
01:46 - 01:50
the price of the support behind the transaction is
01:50 - 01:52
built into the purchase price of the house.
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So if you have a buyer's agent, when you ask this question that says,
01:56 - 01:58
oh, you don't pay me,
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I'm free. I work for free. Run the other direction.
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A good buyer's agent should be more than comfortable talking to you
02:05 - 02:08
about what their commission is and explaining why they're worth it.
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The third and last common pitfall
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is assuming that whoever you hired has the necessary experience and support.
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I understand it's extremely tempting to want to work with someone because someone,
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you know, has recommended them because they're familiar with their character.
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And I'm not saying that character doesn't matter because character does matter.
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But characters should be the minimum bar for entry.
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When it comes to working with someone in this business.
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You also want someone who has the necessary experience
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or has the necessary support to help them
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listen, new is not always bad.
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A new agent is going to be tenacious,
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ferocious and they're gonna want to give you all
02:51 - 02:53
of the attention that you deserve and that's good.
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But if they're new in the business and they stepped
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in without a team or supervision or support behind them,
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that can be a real big problem.
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And on the other side of this experience does
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not necessarily just equal years in the business experiences.
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How many good experiences have you had with people in the past,
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trying to accomplish what we are trying to accomplish.
03:16 - 03:19
There's reviews online, There's so many ways to figure this out.
03:20 - 03:23
Ask other people that they've worked with, don't be afraid to date in on this.
03:23 - 03:26
This is one of the most important financial
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decisions that you're going to make in your life
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and you want to make sure that you're
03:30 - 03:33
properly supported and advocated for throughout the process.
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I hope this was valuable.
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There's anyone we can help you with. Please let us know
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