As for istikharah, it is with Allah (Mighty and Majestic); a person seeks the choice of his Lord.

The Shaykh : As for istikharah, it is with Allah (Mighty and Majestic); a person seeks the choice of his Lord. If he intends to do something and does not know its outcome or its future, he must perform istikharah, seeking the choice of the Lord of the Worlds. Istikharah means seeking the better of the two matters. The Prophet (peace and blessings be upon him and his family) guided to this by instructing a person to pray two rak'ahs other than the obligatory prayer, at a time other than the prohibited times, except in a matter where he fears it will be missed before the prohibited time ends; in that case, there is no harm in performing istikharah even during the prohibited time. As for a matter where there is ample time, it is not permissible to perform istikharah during the prohibited times. That means, after 'Asr, one does not perform istikharah; after Fajr until the sun has risen the length of a spear, one does not perform istikharah; and at the time the sun is at its zenith until it passes, one does not perform istikharah, except in a matter that will be missed. One prays two rak'ahs other than the obligatory prayer, then says the taslim. When he says the taslim, he says: "O Allah, I seek Your choice through Your knowledge, and I seek Your power through Your might, and I ask You of Your great bounty. Indeed, You have power and I do not, and You know and I do not, and You are the Knower of the unseen. O Allah, if this matter..." and he names it. For example, let us suppose he wants to marry into a family and marry their daughter. "O Allah, if You know that my marriage to this daughter is better for me in my religion, my livelihood, and the outcome of my affair" or "he said: the immediate and the deferred" meaning, you say either this or that. "Then decree it for me and make it easy for me. And if You know that it is evil for me in my religion, my livelihood, and the outcome of my affair, or he said: the immediate and the deferred, then turn it away from me and turn me away from it, and decree for me the good wherever it may be, and then make me content with it." And it ends there. After that, if his chest opens up to one of the matters, whether to proceed or to refrain, that is what is sought; he takes what his chest opens to. If his chest does not open to anything and he remains hesitant, he repeats the istikharah a second and third time. After that comes consultation. If nothing becomes clear to him after the istikharah, he consults people of opinion and righteousness. Then, whatever he is advised is the good, if Allah wills. This is because Allah the Exalted may not place in his heart, through the istikharah, an inclination toward a specific thing until he consults; then Allah the Exalted places the inclination of his heart after the consultation. The scholars differed on whether consultation comes first or istikharah. The correct view is that istikharah comes first; one performs istikharah first, based on the saying of the Prophet (peace and blessings be upon him): to the end of it. So, one performs istikharah first. Then, if one repeats it three times and the matter does not become clear, one consults. Then, whatever one is advised may be what Allah has decreed for you, so take it. We said that one seeks the choice three times because it was the custom of the Prophet (peace and blessings be upon him and his family) that when he made a supplication, he would do so three times, and istikharah is a supplication. It may not become clear to a person which of the two matters is better from the first time; it may become clear the first time, the second time, or the third time. If it does not become clear, let him consult. And success is from Allah.