Real Estate Agent Interview Tips

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1 Real Estate Agent Interview Tips Hiring a real estate agent is just like any hiring process with you on the employer s side of the desk. You should interview several agents before making your decision to ensure you select the agent who will best represent you and your needs. It s critical you make the right decision about who will handle what is likely the largest financial investment you ll ever make. Whether you re buying or selling a house, you can use these questions as a guide when you re interviewing potential agents. Buying 1 How long have you been a real estate agent? An agent with experience has been around long enough to have endured the good and bad of the real estate market. You ll also want an agent that helps many clients buy or sell their homes each year. It takes hard work and a good reputation to get lots of business and it shows that real estate is more than just a hobby for this agent it s a passion! Keep your monthly payment at or below 25% of your take-home pay on a 15-year fixed-rate mortgage. (continued on next page)

2 2 3 Do you have a reference list of clients I could contact? Ask to see this list, and then proceed to check out some of the names. Agents thrive on referrals, so if yours can t provide you with a list of satisfied buyers, that s not a good sign. How often will you communicate with me? Most buyers and sellers complain about a lack of communication with their agents. Whether you prefer phone calls, texting or , good communication is key! It s best to know what to expect up front, and if the agent doesn t make communication a priority, keep looking. It would be a shame to miss out on that perfect home because your agent didn t get an offer in soon enough! 4 Will our personalities work well together? Dave recommends that you interview up to three agents before making a decision. That will ensure the agent you choose fits your personality style and that you feel comfortable communicating with them. Buyers who use a buyer s agent pay an average of 5% less than buyers who represent themselves.

3 Selling 1 2 What is your track record? Agents should bring you a complete listing of their own comps and other comparable sales in your area. Look for an agent who helps at least 35 clients buy or sell their homes every year (many agents sell fewer than 10 home transactions a year). The higher volume likely means they will have the marketing budget it takes to afford the advertising and special programs to give your home a high profile. How long have you been selling real estate full time? You ll want an agent with at least four years of experience; they ve been around long enough to have encountered many different situations when selling real estate. You don t want someone practicing on your home! 3 What makes you different from other agents in the area? What unique marketing plans and programs does this agent have in place to ensure your home stands out favorably versus other competing homes? What does this agent offer that helps you sell your home in the least amount of time for the most money? Sellers typically sell their homes for 97% of the listing price. 4 What is your average number of days from first listing a home to an accepted offer? It won t be a guarantee that your home will sell within the agent s (continued on next page)

4 average time frame, but it s a good gauge of how well your agent knows the business and how hard he works to get homes sold. 5 What is your average difference between a home s listing price and the final selling price? This will show you how accurately the agent prices the homes she lists, and it can be an indicator of how quickly your home will sell while also generating the most revenue. 6 How will you market my home? More than 90% of all buyers find their homes online. Your agent must know how to bring in buyers through online listings, video and virtual tours, blog posts, enhanced listings on real estate websites, and social media. Sellers who work with an agent have a 13% higher average sales price than those who did For Sale By Owner. 7 8 What should I do to prepare my home to list? Your agent should be able to tell you how to prepare your home for sale so it makes a great impression on buyers while giving you a great return on your investment. Do you or your broker control your advertising? If your agent is not in control of their own advertising, then your home will be competing for advertising space not only with this agent's other listings but also with the listings of every other agent in the brokerage. (continued on next page)

5 9 Do you have a reference list of clients I could contact? Ask to see this list then proceed to check out some of the names. Agents thrive on referrals, so if yours can t provide you with a list of satisfied sellers, that s not a good sign. Homes that were staged before being listed sold 87% faster than those that were listed on the market several months before being staged. 10 Can I cancel my listing contract if I m not happy with the way you re managing my listing? How confident is your agent in the service she will provide? Will she allow you to cancel your contract without penalty if you're not satisfied with the service provided? Be wary of agents that lock you into a lengthy listing contract that they can get out of (by ceasing to effectively market your home) but you can't. There are usually penalties and broker protection periods that safeguard the agent's interests, but not yours.

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