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Helpful Tips for Consumers When Interviewing Buyers Agent

Interviewing buyers agent

The Barry and Larry Vestera Real Estate Program Radio show

8:00-9:00 AM | January 08, 2022


On the show:

Barry Miller (Host, and real estate agent with Remax Masters Millenium, Denver, CO)
Larry Stanley (Co-host, Barry and Larry Consumer’s Real Estate)
Chris Coil (Data analyst with Remax Masters Millenium)
Kathleen Chiras (Broker/Owner of Skyfor, Inc. and Association Manager of National Buyers Agents Association)

Current real estate data in Denver:

  • The current data in Denver and Colorado Springs is still strong
  • Median prices are going up and
  • In Denver, houses that are going under contract in the last 7 days are about 340 single-family homes
  • In Colorado Springs the number is about 116 single-family homes
  • The normal rate of inventory is about 4 to6 months and has been around that for decades until the great recession and inflation of residential real estate
  • If the price of a house got up to 20% or more, that means, a standard commission rate has gone up to 20%

How to help consumers to get the top agent when interviewing buyers agent and seller agent?

  • More people have been getting in touch asking about flexible commissions
  • Contacting directly the listing agent’s office is what some buyers usually do, but it is not the best thing to do
  • Consider a few options of agents to interview and find out how flexible their commissions are
  • Buyers shouldn’t typically work with the same agent in an office given the politics of the office. You wouldn’t usually know who is the better negotiator is
  • There might be bonuses to the buyers agent if they sell one of their company listings
  • And all other negative aspects for the buyer, it is not so good with the seller either
  • January is the time when buyers and sellers start jumping back into the market
  • Many buyers are still looking even if it is a strong seller’s market
  • Sellers are thinking it is also the best time to sell because the market is still so hot

Call Kathleen Chiras and we assure you that your real estate experience then will be top-notch, professional and you will have an advocate on your side whether you are a seller or a buyer. IF you happen to be both, a seller and a buyer, you will have 2 fiduciary level service advocates on your side. And if you’re buying and moving in the same area, both those advocates can POSSIBLY be the same agent, but they have better be both fiduciary high level services to you, the buyer and the seller.

Barry Miller (Host, and real estate agent with Remax Masters Millenium, Denver, CO)

Barry’s tip:

  • Always ask this one question when interviewing buyers agent and seller agent:
  • The is the best single question to always ask any potential agent that you’re thinking about hiring as your real estate agent

“How negotiable are your real estate commissions?

  • You also need to find out how qualified this agent is
  • How long have they had a license?
  • The number of buyers they served in the last 6 months?
  • How many sellers in the last 6 months?
  • Are they taking special classes to take their tools up as key market tiers on the seller side and key keen negotiators on the buyer and seller side?
  • The best business model for real estate agents in 2022 and going forward is to only be paid for the number of works they have done
  • Sometimes the 3% commission is not quite enough
  • Consumers should sometimes consider paying a bonus even above that inflated 3% figure
  • What’s becoming normal is closer to 2 and 2.5% which is about as low as it can be low and have full time top-notch fiduciary real estate agents

Reach out today to be connected with a top buyer agents for your area

Colorado Buyers Agents Association service has been helping consumers for over 20 years throughout Colorado. They match consumers’ wants and needs with the best buyer agents. One of the best things about this service is that it is free. The service is available to consumers 24/7. Call, text, email, or just fill out the inquiry form for an immediate response. Consumers may visit this page on the Colorado Buyers Agents Association site.

Keep in mind that there is no harm in checking out another agent if the current one is not working out. The service will provide guidance on how to effectively terminate one agent and begin working with another in a way that is expedient and professional.