How to Interview Real Estate Agents
Questions to Ask REALTORS® During Your Selection Process
May 18, 2007
There are a lot of real estate agents that want to represent you in your upcoming real estate transaction, as you are probably aware by now. How do you find the best one? Below, you will find several interview questions that are designed to help you do just that.
How many hours a week to you work as a REALTOR®?
Agents who only work part-time may not have their heart in the game. Select a dedicated REALTOR® that is committed to their job. If the REALTOR® is not working at least 40 hours per week, they are likely not working when your prospective home buyer or home seller's agent needs to speak with them.
How long have your worked in this particular market where I am buying or selling a home?
Your agent should know your neighborhood. If he is not familiar with the great schools, convenient bus stops or other great features about the location of your home, he is not going to be able to represent it well. Likewise, for sellers, if she isn't intimately familiar with your neighborhood, she isn't going to be able to recommend an appropriate home price, or connect with other agents who have buyer's for which your home listing is a perfect fit.
How many current homes do you have listed or how many other home buyers are you currently representing?
An agent with a many home listings is either good at marketing themselves, or has received a lot of referrals from satisfied clients. Which is it? An agent with a lot of home buyers may be highly efficient. Real estate agents with many clients, both past and present, are experienced and more in tune with the market. Be careful though, if the number of clients is too many for the agent to reasonably handle at one time, you may get the short shrift. See our next question.
How many assistants and sales associates do you have working for you?
Will they be handling my purchase or sale, or will you?
If your REALTOR® has plenty of good support staff, that can be good for you. If their staff is going to handle your transaction from start to finish with little involvement on the part of your potential agent though, these interview questions may be more appropriate for the REALTOR'S® staff than for the REALTOR®!
What kinds of reports and research material can you provide?
While it is easy to find listings of homes for sale and neighborhood data on the Internet, only your agent can give you a comparative market analysis or CMA with accurate sold home prices (recent sales and comps). Beyond this, your agent should have the most current and complete MLS Listings available, and these listings should contain more detail on potential homes in your market.
Have you had any major complaints or action taken against you?
Always check to be sure your agent has valid and up-to-date licensing and certification. Check online for your state's department of Real Estate and see if the information is available online.
How long have you been a REALTOR®?
What was the last continuing education course you took?
If agents have no experience, they can't represent you well. However, if REALTORS® are not continuously educating themselves, their knowledge of the market, regulations and new marketing practices may be obsolete! Various certifications may help demonstrate that an agent specializes in a particular aspect of the real estate market and that their knowledge level is up-to-date.
Are you a broker or a Realtor®?
Realtors are members of the National Association of Realtors, a trade association that requires education. Members sign a code of ethics. Brokers often have several real estate agents working on their behalf. These real estate agents typically split their commission with the broker, in exchange for support services, office space, advertising and other things real estate agents need to properly service you. A broker can represent you as a buyer or seller and they typically have more stringent licensing requirements.
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