7 Things to Look for When Hiring a Realtor

The right real estate agent can be an invaluable partner when buying a home. They can help you find the perfect property, negotiate the ideal price, and even traverse the sometimes-confusing appraisal and financing portions of your journey.

Are you on the hunt for an agent to help with your home search? Here's what to look for.

5 Stocks Under $49

Presented by Motley Fool Stock Advisor

We hear it over and over from investors, "I wish I had bought Amazon or Netflix when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" It's true, but we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Click here to learn how you can grab a copy of "5 Growth Stocks Under $49" for FREE for a limited time only.

Every housing market is unique. So, to give yourself the upper hand, you need an agent who’s well-versed in the exact area you’re buying in. Someone who knows the neighborhoods, who understands local buyer and seller preferences, and who's tuned in to important market metrics like inventory levels, price trends, and more.

To be sure you’re getting an experienced local agent, always interview the Realtor before hiring them. Ask about recent sales they’ve closed and gauge their pulse on the market. The more local knowledge your agent has, the better-armed you’ll be to snag that dream house.

ALSO READ: If Your Real Estate Agent Does These Things, Run the Other Way

What's the point of a great agent if they don't have the time of day for you? Always make sure an agent has plenty of bandwidth before signing on that dotted line. How many listings do they have right now? How many other buyers are they helping? How often can you expect to hear from them, and what's the turnaround time on returned emails or phone calls?

Get a feel for how available they'll be and how much their attention will be split between you and other clientele. After all, they'll be getting a hefty commission from your purchase, so make sure they're able to deliver.

Communication is key when buying a home -- especially in a hot market like today's. Having an agent who responds quickly, can draw up an offer on an hour's notice, and is ready to negotiate on the spot could mean the difference between winning that dream house and drawing out your home search even longer.

It's also important that you and your agent match up in communication styles. Would you prefer to communicate by text only? Make sure the agent is comfortable with that (and at what hours texting is allowed). Prefer only phone calls and in-person meetings? Again, check that you're on the same page. Having similar communication styles is critical on such an important transaction.

ALSO READ: Can You Negotiate Real Estate Agent Fees?

Your agent will ask you to sign a contract, so make sure you read over the fine print before signing on the dotted line. There are a few things you'll want to note.

First, does the agent want exclusivity? If so, that means you can only use this specific agent for a certain period of time. While it's common to sign an exclusivity agreement, make sure it's not for too long a period. You don't want to be locked in if you're unhappy with their services.

You'll also want to look carefully at the compensation section of the contract. Generally speaking, most buyers' agents get 2% to 3% of the home's sale price -- though the seller pays this in most cases. If the seller refuses to pay or you breach your contract, though, you could be on the hook for other fees.

ALSO READ: 2 Mistakes I Made When Hiring a Real Estate Agent

If you'd look up reviews and ratings before buying a new vacuum, you should certainly do it before signing up with a Realtor too. If you're seriously considering an agent, head to Yelp, Google, and Facebook to see what past clients say about them.

You could even ask the agent for contact info for a couple of their past clients. Then, reach out to them to ask about their experiences. Most importantly, ask the big question: Would you use that agent again if given the opportunity?

5 Stocks Under $49

Presented by Motley Fool Stock Advisor

We hear it over and over from investors, "I wish I had bought Amazon or Netflix when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" It's true, but we think these 5 other stocks are screaming buys. And you can buy them now for less than $49 a share! Click here to learn how you can grab a copy of "5 Growth Stocks Under $49" for FREE for a limited time only.

The mortgage process can be pretty daunting, especially if you've never been through it before. While your Realtor won't actually handle any part of that, they do often act as the go-between, helping manage communication between you and your loan officer, checking in, and keeping things moving along.

They can also advise you on great local mortgage brokers or lenders you can work with and give you tips and tricks based on past client experiences.

Finally, make sure you're compatible. Just as you probably don't get along with everyone you meet (or even everyone in your extended family), you likely won't jive with every agent that's out there either.

Ask yourself: Is this someone I'll be comfortable talking to or touring houses with multiple times a week?

More importantly, would you enjoy it? If not, you may be better off with a different Realtor.

ALSO READ: Do You Need a Real Estate Agent to Sell a Home in Today's Market?

Your agent can make or break you, so choose wisely. Interview at least a few candidates and be thorough in your search. Make sure you align on communication styles, that they have plenty of local knowledge and bandwidth, and get a feel for how your personalities match up. Ultimately, they’ll be a part of one of the biggest decisions of your life. Having an agent you can trust and lean on is critical.

The Motley Fool has a disclosure policy.