Understanding a Buyer Consultation: What to Expect and Why It Matters

As you’re beginning the homebuying process, you’re likely starting to choose who to work with. Most buyers choose to work with a real estate agent to search for their next home, help with the buying process, negotiate contracts and prices and more. But do you know how to find the right real estate agent for you?  

Buyer consultations can help you narrow down your choices and ask questions without fully committing to the agent (and having to pay fees). Discover what you need to know and expect from one of these meetings.

What is a Buyer Consultation?

A buyer consultation is an initial meeting between you and a real estate professional. You can think of it as a kind of interview. This meeting will help you determine whether you and the agent are a good match to work with one another and to help set expectations during the homebuying process. 

A buyer consultation can cover a handful of topics, but it’s also a chance for you to get to know them and their experience, let them know what you’re looking for and ask them to address any of your concerns.

What Questions Should You Ask?

Going into the consultation fully prepared will help the agent understand you better and help you be more informed about the process and their services. Here are some questions you could ask: 

• Services:  

• • What types of services do you offer? 

• • How would you help me interact and negotiate with sellers?  

• • How do you prefer to communicate? 

• • Can you help me figure out a realistic homebuying budget?  

• Background: 

• • What neighborhoods are you knowledgeable about? 

• • How long have you been in real estate?  

• • Can you tell me about a successful transaction? 

• Process: 

• • What is your fee structure like?  

• • Would you be able to connect me with other professionals that can assist me during the homebuying process? 

• • Who else, other than a real estate agent, would be involved in the process? 

• • How long does the process usually take? 

• • What challenges should I prepare for during the process? 

• Current Market: 

• • What is the homebuying market like right now? 

• • What do I need to understand about the market?  

• • Is there a lot of competition to buy now? 

While these questions won’t necessarily cover everything you may want to know, you can use them as a starting point. Make sure you come in knowing specific questions you want answered, and don’t be afraid to ask the “dumb” questions.

Benefits of a Buyer Consultation

Working with a real estate agent isn’t required, but it can make the whole homebuying process easier. Check out why you might want to move forward with buyer consultations to find the real estate agent that works for you. 

Understand the Homebuying Process

A real estate agent would walk you through the homebuying process before you even begin to help you prepare for what’s to come. If you’ve never bought a home before, it can be intimidating. After all, it’s one of the biggest investments you’ll make in your lifetime. The agent should be able to tell you about each step in the process, how long it will take, who you’d be working and speaking with and what’s expected from you. 

Know the Housing Market

An experienced and knowledgeable agent would stay updated on the housing market. They would be able to tell you what trends they’re seeing, how competitive the market is, what housing inventory is like in your area, the range of property prices you can expect and more. In addition, they’d be able to give you advice throughout the process and about the market and set realistic expectations.

Establish Your Budget and Goals

You may not have a solid budget yet, and that may be because you’re unaware about the current price of properties in your area, what expenses you need to take into consideration, what kind of fees you should expect and more. The real estate agent should be able to help you get a better estimate of what you can afford or at least help you connect with a professional that can help. 

In addition, the real estate agent should ask you about the necessities and/or “nice-to-haves” in your future home. They should then be able to help narrow down your choices or let you know if anything on your wish list is unrealistic.

Connect with a Lender

An agent that has been doing this for a while will have a network of professionals that they may be able to connect you with, including a lender. Working with a lender is often necessary when buying a home (unless you’re able to pay for a home in full with cash), and if you haven’t met with one yet, a real estate agent could be able to put you in touch with one. The lender would then help you get pre-approved and explain your loan options. 

Meet the Real Estate Agent

While obvious, a buyer consultation is really a great way to see if you’re able to work with that real estate agent. Getting to meet them and ask questions about their background and skills would help you determine if they’re the right fit for your needs.

Know Your Team

Before you even start the process of buying a home, it’s important to know who you’re working with. A buyer consultation can help you do just that. A real estate agent would be part of your team during the homebuying process, and you’ll want loyal, knowledgeable and experienced people on your side for this life-changing event.