Jeff Rickard

Today’s Denver area real estate market is what I call a “Buyers Up” market. You, the real estate home or condominium buyer are for the most part in the driver’s seat. You need a savvy, experienced Realtor® to make certain you get that best price along with the best terms.

So…how do you find the right real estate broker to represent YOU and your best interests?

First, ask your family and friends for referrals to a Realtor® they have used or know well. Ask around, get a few referrals.

Do a little homework. Go online and look at their websites. Read their blogs. Look at their listings online. Google their names for good and bad news.

Next, select and call 2 or 3 agents. Introduce yourself. Let them know you are looking for an agent to represent you, in a future real estate transaction. When you call, if you leave a voice mail message, pay attention to how long it takes for their returned call.

Here are a dozen questions to ask each agent.

1. How long have you been a full time Realtor®? Sorry, no part timers. Experience counts big time in this market. You are not looking for an order taker. There is nothing wrong with a new agent that some experience won’t fix.
2. What percentage of your business is working with Sellers? Buyers? Ask about the sellers first! You want an agent who regularly represents buyers.
3. When did your last transaction close? No “hungry” agents! Then ask: What is their average closed sales price? Don’t work with an agent whose average sales price is too far above or below what you want to spend. They may not be familiar with the inventory at your price point.
4. Will you represent me exclusively? You want a Buyer’s Broker to represent you. Colorado Agency Law requires that you sign a brokerage Broker Disclosure to Buyer and an Exclusive Right to Buy Agreement before you start your home search. Read these documents before your start agent interviews. Your agent owes you 100% of their fiduciary responsibility meaning they put you first over their company and over any seller.
5. What sets you apart from other agents? Here’s where a great agent should tell you about their business strategies, communication and negotiating skills, market knowledge
6. How will you best protect my interests? You want to hear about: The agent interview process to learn about your wants and needs, then making suggestions to best suit your desires. Previewing properties so as not to waste your time. Listening to what you like and don’t like about the properties you see to better narrow your property search. Compiling and reviewing with you most recent and exact comparables for any property you are interested in property to establish a negotiating strategy. Listen to what the agent says. Does it make sense?
7. How will you keep me informed about my transaction? You want an agent with a plan. An agent who will explain every step of the process and keep you constantly informed. No surprises.
8. Do you have any references I can contact? No, a 3 line testimonial won’t work. Ask for a name and phone for a couple of recent clients. Ask: What did you like most and least about the transaction with this agent. Did the agent live up to your expectations? Did the agent keep you informed? Would you recommend this agent?
9. Do you regularly work with other industry professionals who will assist me during the transaction? You want to be connected to lenders, inspectors and others who the agent can assure you will deliver the highest level of expertise and service in their field.
10. How much will you charge me to represent me? Colorado Buyer’s Brokerage provides the opportunity for the agent to be paid by the listing broker or seller and for you not owe any fee or commission to your agent in the event the sellers are in default.
11. Can I cancel my Brokerage agreement with you if I feel you are working for me as agreed? Wow! Let them know you mean business. If your agent of choice is not showing you what you want, where you want it, when you want it or showing only their companies listings, can you get out of the agreement. Will they put that in writing?
12. Is there anything I did not ask you that I should have? Now listen! If there is only silence from the agent, politely say thank you and end the call.

More than 27,000 homes fill the 6 county Metro Denver inventory, lots of choices! There are 18000 agents looking for your business. The market favors you, the buyer, in both agent and property selection. Hire the best agent you can find and I can almost guaranty you the best price and best terms to make your “buy” a good, strong one.

Oh by the way, choosing your lender is more important than ever. Loan terms and Interest rates are the frosting on the cake.
Happy home buying!

Mark Eskanos is a lifetime resident of Denver, a Realtor, and founder of the Esky Knows Real Estate Team.  Please visit his blog, Eskyknowsdenver, for more information about Mark and the Esky Knows Team.

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