All the Wrong Questions to Ask Your Realtor(R)

by Mike Yeo on July 12, 2011

There are some questions a potential home buyer should not ask a Realtor(R) especially in the first email communication. This sends the wrong vibes to the agent and when the agent does not reciprocate, please understand that we Realtors(R) work on contigency that a home is purchased. Until then, Realtors(R) do not get paid for the time invested.

(1) Do you REBATE your clients?

Unless it is specifically noted over the realtor(R)’s website, more often than not, it is not something the agent does. Sure, consumers are free to ask anything you want. But when it is explained to you that it is NOT in the agent’s business model to do so, you have 2 choices to make. (1) Find another agent that does (2) Stop asking and move on.

There is no point you write an entire essay as to why you deserve some money back. Your capital outlay to purchase a property does not necessarily equate to the agent servicing you needing to help out in your cash to close. If you are cash-sensitive, then save a few more month, then buy. You dont have to buy right now.

(2) Do you require a Buyer’s Rep Agreement signed?

Buyer’s Rep Agreement is required use for some brokerages. Some agents make sure that’s signed first before all else. I personally think it’s good business practise. That sets an expectation of what each party is requiring of each other. A Buyer’s Rep agreement for the agent is like an employment contract.

However, when you ask these 2 questions as part of your initial communication, you cannot help but to give agents some wild imaginations. From the agent’s perspective:

  • Are you asking me to work for free?
  • Or use me as often as you need to get access to homes you want to view, then you might just disappear on me?

Buyer’s education is important in knowing how agents are paid. Should you as a consumer care? Some people don’t. But most people who have built a relationship with their agents CARE and PROTECT their agent’s interests in the transaction. Your Realtor(R) works on a contigency that a property is closed and funded.

As much as there is a financial end to the agent’s interests in the transaction, likewise the Buyer is also protected with the Buyer Rep Agency. It is a 2-way relationship. The client and the Realtor decide if they want to do business together. It is not one or the other.

Should you ask these questions? Sure – if that’s what’s on your mind. But if you do ask, don’t forget that it will send the wrong vibes to your Realtor(R) about your commitment level in this business relationship. If you do get fired from your Realtor(R) (yes, we can do that too!), you might know why.

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Contact:


Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

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Copyright © 2009 by Loreena Yeo (3:16 team REALTY)
Originally Posted on All the WRONG Questions to Ask Your Realtor(R)

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