Ask for references? What a concept!
Background
When I began my business of representing buyers as an Exclusive Buyer’s Agent (EBA) twenty years ago I made a commitment that every consumer for whom I would work would be on my “reference” list unless they specifically requested otherwise. None have made that request. I think that they too feel an obligation to pass on their experience. I felt that consumers deserved the opportunity to talk to prior clients in order to make an informed decision regarding their representation.
How many references is enough?
I suggest asking for the contact information for all clients for at least the prior 24 months. That will address several questions. First, how active is the licensee? If that list is much below 20 clients, you may be working with someone who is either not very active in the market or is new to the business. Everyone has to start somewhere so if it is the latter and the person is new, suggest that you also get to meet their “mentor”. You need to know what kind of support will be available to a less experienced licensee. If the person is “experienced” and just not active with representing buyers, you may want to consider continuing your search and find someone who is.
Okay, I have the references. What is next?
You can ask the prospective agent to indicate which buyers purchased in a similar area and/or price range and, if it is your situation, which were first-time buyers. You will probably benefit more from talking to buyers whose situation is most similar to yours. Questions to ask include: Was the broker readily available? How long did it take for calls to be returned? Did you ever feel pressured to make a decision before you were ready? When going through houses did the broker identify potential problem areas while also identifying stand-out features? Did the broker complete and explain a market analysis for the property on which you were offering? Did the broker have a list of inspectors for you to consider? Did the broker attend the inspection? How did you feel about the advice regarding the Inspection Notice and the broker’s follow-up regarding inspection corrections? Did the broker attend the closing and provide answers and guidance? And finally, would you engage the broker for your next purchase and recomment him/her to your sister and/or to your best friend?
How many should I call?
Enough to be satisfied with the results. Probably four to six. If someone was not satisfied try to find out why and ask others about the same issue. It is possible that it was a one-time occurrence so factor that into the overall responses.
The result.
You should now have evaluated the prospective agent’s resume’, interviewed references and had an in-person interview. You are the “employer”. You can now make and informed decision and hire the person who will best meet your needs and expectations.
If you want to consider a person for the important position of representing your real estate interests, please consider me as your EBA.