Home-buyers may spend as much money on their real estate agent as on their car, but many will choose their agent in less than an hour.
Many home-buyers hire the first agent they meet. This is probably because most of us would rather reject a car than a person. And some people just don't know what to ask when evaluating an agent.
Looking for an agent and not sure what to ask? Check the questions we'd ask if we were looking for an agent:
We posted this list on our blog and then tweaked it based on the feedback we received:
- Is this your full-time gig? How many clients have you served this year?
An active agent is more likely to be up-to-date on the market and the law.
Redfin employs full-time lead agents and connects with partner agents who have each closed a minimum of 15 transactions.
- How many sales have you handled in my target neighborhoods?
You want someone who knows the local market, with a few recent deals in your target neighborhoods.
Check the profiles of Redfin's agents and our partner agents to see where their latest deals have been.
- When clients are unhappy with your service, what's gone wrong?
Different buyers are comfortable with different agents. Be certain this a person you can work with.
When a customer has been unhappy with Redfin's service, it's usually been a bad fit. Some people don't like working with their agent via phone and email. Some don't want to hear frank advice, which is the only kind we give.
- Has a client ever filed a formal complaint against you?
If you're uncomfortable asking, just check with the state licensing board.
We've never had a customer file a formal complaint against any of our agents.
- What's your fee?
The seller pays the buyer's agent using the money you pay for the house, typically 3% of the sales price. Some buyer's agents refund part of this fee.
Redfin's fee is 1/2th of the commission refund. The minimum fee is $5,500. If the commission is less than $11,000, we take $5,500 and you get the rest.
- When I am committed to working with you?
Many consumers start touring homes without realizing this can obligate them to work with the agent, contract or no contract.
When you work with Redfin, you aren't asked to sign a buyer's agency agreement until you make an offer, to ensure you get your refund. You can walk away at any time.
- What services do you offer beyond negotiations and escrow?
Make a list of what you'll be paying for. Negotiations, paperwork, and contingencies are the minimum.
A Redfin agent will take you on home tours, help you set an offer price, negotiate with the listing agent, coordinate inspections and repairs, and handle escrow.
- How do you use technology?
Technology can make buying a home easier. Look for a website where you can search homes for sale, research neighborhoods and find past sales information.
Redfin.com offers Freakish Depth for listing data, price history, tax information and similar homes to help you search. You draft an offer online, and then work with a Redfin agent to negotiate and close the deal.
- Do you get kickbacks from the professionals you refer?
You need to know the information you'll get from a referred home inspector, lender, or closing company is honest and unbiased.
We don't take kickbacks. The professionals we recommend are good at what they do.
- Who else will be working with me?
An agent is often supported by a team. But the person you hire should do most of the work.
You'll work with a team of Redfin agents: a direct agent, transaction coordinator and one or more field agents, for tours. The direct agent is the team leader and your main point of contact. If you'll be working with a Redfin partner agent, be sure to ask them if they have a support team of agents who may also be helping you during the home-buying process. But just like with Redfin direct agents, your Redfin partner agent is your main contact and is directly responsible for your success.
- Will you show me all the properties for sale?
Good agents show all properties, even for-sale-by-owner properties that don't pay a commission.
Redfin.com shows all of the homes that are for sale, including broker-listed homes, for-sale-by-owner homes, and properties in foreclosure. However, we don't show foreclosed properties up for auction and will only work with you on MLS listed homes that aren't short sales. - How quickly can you get me into a home?
Hot homes move fast. Ask how the agent handles tours on short notice.
We do our best to get you on a tour as soon as we can. But, sometimes it takes a couple of days.
- Do you represent buyers and sellers on the same house?
We believe no agent can fairly represent both. You need someone on your side.
Never. At Redfin, we always put your interests ahead of everything else.
- What if I'm unhappy with your service?
Agents get paid when you buy a house. But most customer complaints occur during the closing process. Ask for a guarantee.
Redfin has a 100% customer satisfaction guarantee. Just let us know you're not happy with our service within five days of closing and we'll refund our entire fee.
- Can I get references for your last five deals?
Every agent has clients he served well. But the best agents serve nearly all of their clients well. Getting an agent's last five clients will give you a more balanced picture of his service than letting him choose his most favorable references. You don't need to call more than two. Do they trust the agent? Would they use him again? Look closely at these last five deals to see how they compare to similar sales in the neighborhood. Did the agent negotiate a good price for each customer?
We publish the details of each Redfin agent's latest transactions with the customers' ratings on our agent profile pages. Click on the address and you can see a list of nearby similar sales. You can also see what our customers have said about working with Redfin. Want more info? Ask your Redfin Direct Agent for references.
- Blog posts from MyMoneyBlog on finding an agent and real estate commissions.
- An article from BusinessWeek on how real estate commissions affect both sellers and buyers.
- The Department of Justice's website on real estate commissions and rebates.
- The New York Department of State's warning regarding dual agency.
- Six signs you're working with a bad agent.
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