While buying a new home is an exciting achievement, it’s also a big undertaking with emotional and financial ramifications. To help navigate this process, you’ll want to partner with a realtor who knows the market, the neighbourhoods you’re interested in, and who you can trust to give you great advice based on sound data and market insights. Let’s look at five essential questions to ask a realtor when buying your new home.
What is the realtor’s experience with home buyers in your situation?Â
When partnering with a realtor, you want to ensure they have experience working with people whose situation matches your own. If this is your first time purchasing a home, you’ll want a realtor who has experience working with first-time home buyers, so they can provide the necessary support and insight you’ll require along the way. Similarly, if you are an investor, you’ll want to find a realtor who understands how to identify investment opportunities in real estate. In addition to a proven track record of success, your realtor should be able to provide you with client testimonials and references, as well as demonstrate their agency or brokerage’s support for their work in this specific market sector.Â
What differentiates the realtor from other realtors?
A good realtor should be able to outline what makes them different from other realtors. Some examples of what might differentiate a realtor are:
- Exceptional or unique marketing tactics, especially online.
- A wealth of data, analysis, and insights for the neighbourhoods where you’d like to live.
- They live in the areas you’re looking at, so they have an insider perspective.
- They have a high number of recently completed purchases.
- They are excellent communicators and trust-builders.Â
What services does the realtor provide beyond facilitating the transaction?
An experienced realtor will guide you through all the processes and paperwork of the transaction itself, but forming a strong partnership requires elevated service. They should be able to paint a picture of what living in the home will be like — from information on local schools to the feel of the neighbourhood and the community's amenities. A great example of this type of insight is rennie’s neighbourhood guides, which detail residential communities around the Vancouver Region. Check out our guides to Kitsilano, White Rock, and North Vancouver for a thoughtful perspective on these popular neighbourhoods.Â
How will the realtor communicate with you throughout the process?
Buying a home is a complex process. There are many decisions to make and steps to take. Your realtor acts as your partner, so open communication is integral to a successful relationship. Realtors are the experts and know what they need from you, so you should hear from them more than they hear from you. Whether it be phone calls, texts or emails, together, you can establish your preferred medium of communication. Finally, a realtor should never make you feel awkward, or like you’re taking up their time when you reach out to them. They are there to assist you in reaching this milestone, and there are no wrong questions to ask.Â
How does the realtor handle the negotiations of home buying?
Negotiations are a part of the realtor's role where their experience and expertise are extremely valuable. Before you arrive at the negotiation stage, you’ll want to know their strategy to get you a fair price for your new home. The realtor's strategy may be nuanced and be on a case-by-case basis, but generally, they should be able to give you an idea of how they like to handle negotiations and back it up with success stories, testimonials and references.Â
Buying a home is a thrilling achievement many aspire to reach in their lifetimes. Partnering with the right realtor to help you guide through your real estate journey will make the process efficient and simple. These five questions will help you find a realtor who understands your unique needs.Â
Click here to explore rennie’s roster of real estate experts and find a realtor who can help you achieve your goals.Â
