Buy Foreclosed Houses With the Help of a Good Real Estate Agent

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  • Author Joseph B. Smith
  • Published August 30, 2010
  • Word count 384

Most investors and home buyers know that to be able to buy foreclosed houses that suit their requirements, they should have the help of a dependable and market-savvy real estate agent. Choosing a real estate agent can be as important as choosing the property that a buyer would purchase. To make sure that a buyer is only hiring the best, there are certain details that he should find out about the agent first.

Experience and Reliability

The first question that a home buyer should ask a prospective agent is how long he has been in the business. It is also advisable to choose specialist agents, which means that if a buyer is leaning towards purchasing a government foreclosure, he should find himself an agent who specializes in government foreclosures, while those looking for REO or bank foreclosures should look for agents who are associated with banks and lenders.

A buyer should also find out the agent's records, particularly the number of properties he has been able to acquire in behalf of his clients who buy foreclosed houses. Buyers should also ask what the average difference is between his purchase price and the list price of these properties. Requesting for references and taking the time to talk with the people who provided the references will also help.

Agent's Strategy

Home buyers should also ask real estate agents about their strategies or how they usually get a client's offer accepted by the seller. The process and resources used by the agent to find the suitable property for his clients is also important.

How he deals with multiple competitors and make sure that his client has at least a good chance of being considered is also another question that a good real estate agent should be able to answer. A home buyer should always listen carefully to an agent's answers and deduce from his tone whether he is just putting on airs or whether he really is capable of delivering on his promise.

People who wish to buy foreclosed houses should get the help of a real estate agent who has a good track record in the field of buying foreclosed properties. Asking friends, family members and other people who have tried the services of certain real estate agents is also a good way to find a reliable professional.

Joseph B. Smith has been educating buyers on the finer points of buy foreclosed houses at for over ten years. Contact Joseph B. Smith through if you need help finding information about buy foreclosed houses.

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