HOW TO SELECT A BUYER REPRESENTATIVE

Choosing to work with a buyer representative often called a ‘Buyer’s Agent’ can have a number of advantages especially in the REO market. REO listings and the REO process are unique in the real estate arena. Having someone who can help navigate the twist and turns of the process can save time and money. Here’s a list of questions to ask that can be helpful when making this selection.
- Are they licensed in the state in which you are purchasing a property?
- What is the best way to communicate with them? – What hours do they work, how will they inform you if they are taking a day/weekend off?
- How many closings have they had in the past 12 months?
- How many REO properties have they listed in the last 12 months?
- Ask for examples how this person has used negotiation to the advantage of a buyer, and to give cases where a problem with the title has prevented or postponed a closing.
- Ask for references.
- Will this person provide you with an industry resource list or preferred vendor list of reputable lenders, painters, electricians, radon experts, and other contractors?
- Ask how inspections are arranged and how are issues to be handled?

Be sure to select an agent that you feel comfortable talking to and working with, especially if you are new to this process. Be sure to provide them with information about yourself and the types of properties you are interested in purchasing. This will put them in the best position to help you find that perfect property at a great price.