What to Ask Your Realtor
There’s a lot to consider when buying a new property, so use the top resource you have at your disposal – your real-estate agent. Your agent holds a wealth of knowledge. You just need to ask the right questions.
A good real estate agent becomes your business partner, adviser, best friend, and therapist. Choose wisely, or you’ll be stuck with someone you don’t see eye-to-eye with, or worse, someone you don’t trust.
Your seller’s or listing agent will advertise your home, walk buyers through, answer questions and help you through the negotiation phase. If you’re trying to buy, you can hire a buyer’s agent who is familiar with your preferred locations. He will recommend neighborhoods that fit your preferences, and he’ll also warn you about possible drawbacks — like the nearby factory that will wake you up every morning at 5:00 a.m. But not all agents are the same. Some may take advantage of your inexperience and end up costing you a pretty penny.
The interview stage of the relationship is important for everyone involved. You can interview the agent over the phone, or get together at his office for the first meeting. But don’t expect a top-producing agent to meet you at your home before you’ve made a selection.
#1 How long have you been selling Real Estate?
#2 What is your List Price Ratio? How close to List Price do you average on your sales. A competent listing agent should have a track record for negotiating sales prices that are very close to list prices.
#3 What is your Marketing Plan / Strategy for my Home? Advertising, Flyers, Photography, Home Staging and Open Houses etc. Ensure you have an acceptable plan prior to signing on the dotted line.
#4 Always ask to see how long their listings sit on the market. Compare it to other agents interviewed, and if theirs is oddly high, ask for an explanation. If they can’t attest to why, find another agent.
#5 Are you Independent or part of a team? Some people think real estate is a solo business, but many agents work on a real estate team with other agents, an administrative assistant, and a team leader—and there are benefits to working with an agent who’s part of a team. For example, if your agent is tied up and you need to see a property ASAP, someone else on the team can step in and show you the home, or handle last-minute problems in lieu of your agent.
#6 What percentage of business is Selling v.s. Buying?
#6 How many homes did you sell or buy Last Year?
The list of questions is endless and you can find no end of questions to ask on Google. The main goal is to select a Realtor who is experienced and specializes in the service you require. Interviewing 3 or 4 agents will allow you to choose a Realtor who is most suited for Buying or Selling your home.