Buying a house in Chicago or anywhere else, is an exciting time in one's life. The idea of moving, owning property, starting anew, etc. can all add to the thrill of being a homeowner. But as hard as it can be, DON'T GET TOO CAUGHT UP IN THE MOMENT! This isn't a small purchase; if you're not careful when choosing your real estate agent, you could wind up in a house you aren't crazy about, paying much, much more than you want to or should, or both. ChicagoRelo.com has put together a few hints and tips to help you choose the right Real Estate Agent for you.

If you are buying a house instead of selling a house, some will tell you that you really don't need a real estate agent. For many savvy homebuyers, the only purpose a real estate agent serves is to get the buyer past the guard at a gated community, or to unlock the key to the seller's empty house from the lock box on the front door. They also can be a huge help with closings and in many cases handle the escrowing of funds. If you have a good realtor who will tenaciously hunt down houses matching your criteria, it can save you a LOT of time. And if you are a new to an area or city they can be invaluable. You'll still need a good property attorney.

When interviewing prospective realtors, remember to ask these questions, especially if you've never used a realtor before:

• Ask if they are licensed and up-to-date. If not, you want nothing to do with them
  
  
• Ask what type of training they take to stay current, and ask them how good are they at using the Internet, and what type of training they have for marketing homes on the web. Since many consumers now use the Internet to locate homes, you better have an Internet-savvy real estate agent.
  
  
• Ask them if they'll take a lower commission. If you're selling a $150,000 home, every percent point less that you can negotiate down on their commission saves you $1500. Many agents have negotiable commissions. But remember that agents have to make a living too, so don't expect them to work for free.
  
  
• Ask them if they are a "broker" or an "agent." Brokers are more experienced, and it's more difficult to become a broker; they're more resourceful and driven.
  
  
• Home buyers and home sellers should both ask their realtor if they will get them a printout of all the recent selling prices AND the original listing prices of homes in their area, showing what the owners paid for them, how much they sold for, and full details on the homes. Selling price is useful, but knowing what they listed for and how much the sellers dropped in price is a great gauge of the real estate market in a given area.
  
  
• For sellers, ask the agent how they plan to market and sell your house. Get it all in writing never rely on verbal promises. You want your realtor to blitz the market and get your house into the premium listings and the free listings, and all the online web sites. You want your house to be found, and you don't want surprises or excuses later on.
  
  
• If you're selling your house, ask the realtor is he or she is willing to offer more commission to the buyer's agent. There are many buyer's agents just looking for houses whose selling agent pays that extra 1/2% or more. This incentive can help sell the house quickly if need be.
  
  
• Ask your realtor if they'll accept a contract for 90 days or less. Some agents will ask you for exclusive contracts for 6 months to a year or even longer. Its best to avoid long-term contracts. If the agent is doing a good job you can always renew the contract.

"Real Estate Agent" is another name for "Salesperson."

This is a good thing to always remember. Don't ever let on that you are in a desperate situation, or that you need to sell a house fast to pay for emergency bills, or that you are in a desperate crunch to buy this house now because you're being transferred into town this week.

You cannot guarantee impartiality

If your real estate agent's commission is based on the selling price of a house you are about to buy, you cannot guarantee that the agent has your best interest at heart. The only way to guarantee that is to use a "buyer's agent" who does not get a percentage of the selling price. Many Realtor's will act as a "buyers agent". To play it safe, never tell anyone but yourself how high you are willing to go. By law the seller's real estate agent has a fiduciary responsibility to the seller, and they WILL tell the seller everything you say, so pretend you are under police interrogation. The first thing the agent will do is ask you how high you are willing to go on the house. Just give them the price you want to pay for the house.

Choose a successful realtor

The better agents have success selling homes in the neighborhood you are looking in. Often you'll find the same 2 or 3 agents closing deals like crazy in a neighborhood. Real estate agents often have a full-page ad in the local home-classified magazines listing houses grouped in one area, and the successful agents have lots of houses listed. Someone trying to find you a house should be doing it all day, every day.

Where to look for realtors

Probably the best source is people you know. They will tell you (honestly) if they liked or hated their real estate agent. You want a real estate agent who is professional, aggressive, and maybe wins the monthly sales awards in their office. Certainly the large, well-funded real estate companies have certain minimum standards for business practices, ethics, and customer satisfaction. You'll still find bad apples at the larger firms, but maybe not as many as you would in small, unaffiliated brokerage offices with no published standards or ethics practices. Ask the real estate agent to show you all the state required disclosure forms so you know ahead of time all your rights. You don't want any surprises later on.

Choose a realtor that has the right personality

Your relationship with your Realtor can turn sour from bad communication. The Realtor may grow impatient that you are not making any offers on homes that match your list of criteria. They might start to complain that you are not serious about buying and that you are just wasting your time. You might start to complain that all they care about is selling the first house they take you to. These are communications problems that can be avoided if proper communication is disclosed up front. If you know you are an impatient shopper, or that you have to look at a dozen homes before you make your mind up, let the real estate agent know. Some are more patient than others. Make sure they have an accurate list house criteria you are looking for, and don't spring any surprises on them after you have seen 10 houses. Give them a written list of all your house-buying criteria. Make sure your real estate agent knows every last detail of what type of house you are looking for. The easier you make the home-buying process, the better it will go.

Watch out for a real estate agent continuously trying to get you to buy houses for much more than you told them you wanted to pay. You'll probably hear something like "Come on, I know its out of your range but just take a look anyway. It will give you ideas for other houses." Translation: "Once I get you into this house to look around, I can get you to buy and I'll get a bigger commission." Any agent that rushes you.

Happy Hunting!

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