Buyer's Agents Should
Look Out for Your Interests

Question: I've just moved to Colorado and I'm getting ready to buy a home for my family to live in. Actually, this will be the first property I've bought and, as you can imagine, it's rather overwhelming. I've read your book, "Buy Your First Home," and am wondering if you have some additional information on finding a good "buyer's agent?" I want someone who will be professional and look out for my interests.

Peter: You're doing the right thing. I'm assuming you've already done as I suggested in the book and gotten pre-approved (your first step). Now you want a good agent to find a home for you.

Today virtually any agent can claim to be a buyer's agent. Be sure the agent declares that he or she is working exclusively for you, not the seller. This should be in the form of a written, signed statement. (And it should not cost you anything.)

Also, look for an agent who's been in the business at least five years and who's worked that time in the neighborhoods where you want to buy. Nothing can take the place of personal knowledge of an area.

Then, check out the agent's background. They should belong to the National Association of Realtors and the local real-estate board and Multiple Listing Service at a minimum. Ask for references from satisfied buyers. The agent should be able to provide at least three people to whom they've sold homes in the last six months. Call and verify that the agent did a good job.

Finally, be comfortable with the person. You don't want someone who will push you into buying something you don't want. Nor do you want an agent who isn't assertive enough to get you a good deal from a seller.

A good buyer's agent should quickly become a trusted financial advisor and friend.

Mr. Irwin has more than 25 years' experience as a Los Angeles-area real-estate broker. He is the author of more than two dozen books about real estate and is recognized as one of the most knowledgeable writers in the real-estate field. Mr. Irwin's most recent book is "Irwin's Power Tips for Buying a Home for Less," (McGraw-Hill, 2000).

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Peter, Denver

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