What Questions Should You Be Asking Your Real Estate Agent?

Investing in rental property

Many people expect that unless they own their own property, they will never be in charge of hiring another person. Because of this, they will never know how to pick a good real estate agent, lawyer, or accountant until the situation arises when they need one. While there may not be a lot in common between these professions, there are a few questions that you can ask each one to determine who to hire within that field.

Whether you are a first-time home buyer or investing in rental property, finding a good real estate agent can be the difference between getting the house of your dreams and buying the fixer-upper down the road. Your accountant should be able to keep your budget in order and your finances in line all year, not just at tax season. A good lawyer is invaluable inside the courtroom and out.

The common questions to ask real estate agents, lawyers, accountants, and other service providers mainly have to do with communication. You will need to know the service provider’s primary form of communication and the easiest way to reach them. What time of day are they available to talk? If an emergency should arise, will you be able to get in touch? Will you be speaking directly to them, or through a subordinate? The answers to these questions will help you narrow down your choices based on what will work best for you.

Other questions you will want to ask involve compensation. How much does this person expect to be paid for their services, and when? Are payment plans available? Find out if tipping is appropriate and expected in the service provider’s industry, so that you are prepared to accommodate.

Lastly, ask for references, especially from their most recent client. A glowing review from a client who received services four years ago is less important than the mediocre review from their most recent client. Ask the clients what they liked and disliked about the service provider, and if a like overshadowed a dislike or if the reverse occurred.

Knowing how to pick a good real estate agent, lawyer, or other service provider is an important skill to have. While you may never have to hire local real estate agents or accountants, asking the right questions is crucial to selecting wedding vendors, house cleaners, and babysitters, too. Continue reading here.

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