My wife and I will be sitting down with a real estate buyer's broker over the weekend as we start our home search. The broker would like to represent us exclusively, which I'm not necessarily averse to, but I'd like your recommendations for how to chose a broker to help us be certain she would be the right fit before wasting our time.
As I mentioned in a past question
, we are focusing our search on Boston's western suburbs (and particularly those that have some form of public transportation to downtown)--Newton, Wellesley, Needham, etc.
It is a hot market here, and all things being equal, I think I'd prefer not to have a buyer's broker--but we're looking for more local knowledge about each town and the neighborhoods in the town, and well as some guidance on crafting a good offer letter in a competitive situation (i.e., how best to draft an escalation clause, how much contingency we can put into the inspection requirement, etc.). This is not a "normal" market and we'd like some help navigating it.
To state the obvious, we don't want someone who is just going to sign us up for MLS emails and tells us to bid higher.
Do you have any tips on auditioning a broker? How have you gotten a good sense of how proactive a potential broker would be? Is there a (reliable) site that tracks reviews of individual brokers, like BBB or "good standing" databases for attorneys?
And in this market, no one is selling before the open house, since there are invariably multiple bids. How important is it to select a broker from the very biggest office in a town or area to benefit from "office previews" (where a home is showcased to brokers from the same office) rather than the general "broker previews" (where brokers from other firms are shown the house)?
I found this comment
from Feets to be along the lines of what I'm looking for--but I'd love some more perspectives before meeting this person.