Agent

hat is the difference between FHA & Conventional loans? FHA is Ginnie Mae, Conventional is Freddie Mac and Fannie Mae. FHA has two types of mortgage insurance where as Conventional loans require Private Mortgage Insurance or PMI to be tied to tour low equity loan or high to loan value mortgage. Basically if they can recite something reasonably educational and new to you, put them on the short list.

Longer is better and of course a full-time agent who has demonstrated competence accented by a personality you like is the smartest choice.

An agent that solely works with buyers could be good but certainly doesn’t indicate their competence. If an agent works with buyers half the time and has great people skills complimented by a strong ability to see clues that give you an advantage when negotiating the contract; put him/her on the short list.

This question should be asked when your looking in a specific area where an agent that specializes in that distinct area might have some pocket listings.

Its uncommon for a client to take the time to write a letter of recommendation so when an agent or broker has one take heed, there is a good chance this agent will provide excellent service and worthwhile advice.

REALTORS are the only licensed agents in any state that police themselves and give the general public a forum to complain about poor service or incompetency that results in fines and other disciplinary actions.

Yes but each has there challenges so having an agent talk about these topics before signing an agreement is wise.

Today, via email, we have automated delivery of potential homes. The agents answer to this question should be one that instills confidence that you won’t miss out on a good one — but this is a two way street if you expect your agent to be available on a moments notice you should be too.

This is where experience pays off, the answer is subjective but just asking it will reveal much about the agents intent.

This answer can be short or long but what you’re looking for is someone who is creative, forthright and collaborative not collusive.

You’re looking for an agent who understands the differences in lending institutions, for example, what is the difference between a broker, corespondent, mortgage lender, chartered bank and servicer.

Ideally we all do but know that this network may not live up to your expectations, sometimes professionals in real estate are so busy looking for new business they forget to take care of their current business. Bottomline, ask the agent “what do you like about John Doe the Loan Officer?”

Ideally we all do but know that this network may not live up to your expectations, sometimes professionals in real estate are so busy looking for new business they forget to take care of their current business. Bottomline, ask the agent “what do you like about John Doe the Loan Officer?”

All too often we see contracts that last one year. Don’t sign this unless you know this agent is awesome! Negotiate an initial term of 1-2 months and take the agent on a test drive. If you don’t like him/her then you’re free to move on sooner than later.

The answer should be that he’ll negotiate the commission with them and if its a really good deal just add his commission on top the asking price. Chances are its overpriced and this is where your agent earns his fee.

The same way they should for all properties, with zealous regard for your best interests.

This is a slippery slope but what you’re looking for is neutrality and a believable answer or tone.

A good answer might be because they are full-time or that they regularly attend classes to develop and hone their skills.

A yes answer to this is a good clue that their honest and ethical and striving to police the industry.

It should be one that respects the customer or client like “Question Based Selling.”