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Questions for Buyer Agents

Evaluating Buyer Agents

Real estate transactions are typically complex, often stressful and usually time consuming. Primary benefits to home buyers of engaging a real estate professional include saving time and money.

The majority of MABA clients are busy professionals. They value the expertise of a proven real estate professional. They want the peace of mind of having a MABA buyer broker who is their guide throughout the home buying process. Most clients readily acknowledge that they simply don't have the time or expertise to commit the resources to research, evaluate, and negotiate the complexities of the home buying process on their own.

If this perspective sounds familiar, let us help you as a prospective home buyer make an informed evaluation of buyer brokers. Below are some questions to help you evaluate a buyer's agent.

Questions for Evaluating a Buyer Agent

How do you find a buyer agent that you have confidence in and are comfortable working with? Ask for referrals. If you are new to MA, start with a credible organization such as MABA where less than 1% of MA buyer agents meet the strict membership standards. Then ask questions and evaluate your comfort level with their expertise, credentials and track record.

  • Are you a buyer's agent? If yes, what experience have you had as a buyer's agent?
  • What specific training do you have as a buyer's agent?
  • Does your office have ongoing sales meetings on ways to benefit buyer clients?
  • Are you a member of a buyer's agent association?
  • How long have you worked on the buyer's side?
  • How long did you work on the seller's side?
  • Do you also list houses for sale? Do agents in your office list homes for sale? If yes, how do you plan on keeping my information separate from seller's agents in your office?
  • Do you have a private office? Private fax? Private phone service?
  • Do you have regular office meetings to discuss the market and techniques in real estate? If yes, do your sales meetings focus on ways to get the best price and terms for sellers, for buyers or for both?
  • Do you work with a partner in your office? Does your partner list homes for sale? If yes, what will you do in the event that your partner is the listing agent on the home that I want to buy?
  • If you (and your partner) list homes for sale, how many of the last 20 transactions that you have done have been on the buyer's side?
  • Will you sign a guarantee that you represent my interests exclusively and will not attempt to sell houses you or your partner list?
  • What geographical areas are you most knowledgeable about?
  • Do you have full access to the area's Multiple Listing Service (MLS)?
  • Do you have access to For Sale by Owner (FSBO) and foreclosed properties?
  • What is your fee structure? Will you give that to me, in writing?
  • Will you make decisions about what homes to show me without regard to co-fees offered to cooperating agents on MLS listings?
  • How many homes are you prepared to show me?
 
 
 

Latest from the Blog

  • Massachusetts Pending Home Sales and Median Price Up Again in June

    The Massachusetts Association of Realtors® (MAR) reported today that single-family pending home sales were up over nine percent in June from last year. Pending condominium sales were also up more than 12 percent. The median price for both single-family homes and condos saw a hike, with the single-family median price rising over the $400,000 mark. Realtors® confidence both in the market and in home prices dipped slightly in June. This month’s “Hot Topic” question finds that the majority of Realtors® surveyed have had at least one transaction that was an all-cash deal (i.e. no mortgage involved) since the beginning of the year.

    June Pending Sales: 

    Single Family June 2017 June2016 % Change
    Sales 6,723 6,128 9.7%
    Median Price $410,000 $380,000 7.9%
    • Pending sales have been up 51 of the last 52 months 
    Condominium June2017 June2016 % Change
    Sales 2,596 2,307 12.5%
    Median Price $370,000 $349,900 2.9%
    • Pending sales have been up or flat 20 of the last 22 months 

    “The increase in homes put under agreement this month may be a positive sign for a spring market that has suffered plummeting inventory,” said 2017 MAR President Paul Yorkis, president of Patriot Real Estate in Medway. “However, median prices have continued to rise, which can push some buyers out of the market.”

     
    Realtor® Market and Price Confidence Indexes: 

    Confidence Index June2017 June2016 %Change
    Market 80.73 80.97 -0.29%
    Price 71.79 73.87 -2.82%
    • The Realtor® Market Confidence Index went down for the first time in 27 months
    • The Realtor® Price Confidence Index went down for the first time in six months
    • Measured on a 100-point scale, a score of 50 is the midpoint between a “strong” (100 points) and a “weak” (0 points) market condition  

    “The Realtor® Market Confidence Index has dipped year-over-year for the first time in over two years, indicating that Realtors® are growing concerned about some of their buyers being able to succeed in this market,” said Yorkis. “However, both indexes reveal that ultimately Realtors® remain positive. We just need to see more inventory to keep up with the demand.”

    With home inventory being as tight as it is, you want to give yourself every advantage if you are thinking of buying a home in Massachusetts. For the best possible experience, be sure to work with an agent who is a member of the Massachusetts Association of Buyer Agents.