We have said it repeatedly – not all agents are the same. Picking a buyer’s agent should not be done lightly. The difference in service and skills can make or break your entire transaction. (And it could be a rough 30-45 days during the deal if your agent isn’t on top of things!)
Here is our advice on how to pick a buyer’s agent:
#1: Do they work with buyers?
This is a serious question to ask! Not all real estate agents work with buyers any longer – or it’s been quite some time. Don’t hire an agent who has only worked with a handful of buyers in the last few years. They are not ready for our current market.
#2: How many buyers did you help purchase homes last year?
This answer will be telling! The national average per year that a real estate agent sells is 5 or 6 houses. Be New Orleans helps about 60-100 people purchase and sell homes each year!
#3: What is your schedule like?
Some real estate agents only work part-time. They may not be available to show houses after you get off work or on the weekends. If their schedule doesn’t align with yours – keep looking for an agent.
#4: Do you live near the areas I’m looking for, or are you familiar with them?
If the agent you’re interviewing lives in Baton Rouge, and you’re looking to purchase in New Orleans, you should continue your search. They may not be as familiar with New Orleans homes, our market, and what is going on in areas you’re interested in. Pick an agent who can meet you for a last-minute house showing and won’t need an hour (at minimum) to get there!
#5: Are you a full-time real estate agent?
I would never hire someone who is only part-time. This is likely the largest transaction of your life. If your real estate agent is only available after 5, how do they help you with inspections, meeting plumbers, etc.? There is a lot to do in a real estate transaction, and you deserve to be their main priority.
#6: How is the market?
Any reasonable buyer’s agent should be able to communicate with you about what is happening in the current real estate market. If they tell you it’s not full of bidding wars and offers far over the asking price, they are not setting you up for success! (If this is the current case. The market changes constantly, and this may not be accurate now!) A great real estate agent will be honest – even if you don’t want to hear that answer.
#7: Did/Can they explain the paperwork to you?
We always like going over real estate paperwork with our potential buyers so they know what they are getting themselves into. If your potential agent can’t explain a contract to you, line for line, they may not be the person you want to hire. While we aren’t lawyers, we need to make sure all the terms in your contract are met. Your agent should also know all the loopholes in the contract. You want to hire someone who KNOWS their paperwork!
#8: Read their reviews
Google whomever you’re meeting and read their reviews! These will give you insight into what kind of real estate agents they are!
#9: Have they explained how they are paid?
As of August 2024, there are new rules in real estate. In Louisiana, it is state law to sign a buyer’s brokerage agreement stating that you’re working with a specific agent. This agreement may only pertain to one house or be a six-month agreement. You need to know how your agent is being paid and that this agreement commits you to paying them if the seller will not offer a commission. A fantastic New Orleans real estate agent will ba able to talk you through this so you understand your role too!
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