10 questions to ask when choosing your realtor
1. How long have you been in residential sales? Is it your full time job? Experience is no guarantee of an agent’s skill. However in the profession of real estate like many other jobs, it’s mostly learned on the go.
2. How many homes did you sell last year? Asking this question will help you get a better understanding of how much experience the licensee has.
3. How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR you interview should have these facts at hand, and should be able to present market statistics from the local MLS to provide a comparison.
4. How close to the initial asking prices of the homes you sold were the final sales price? This question is an indication of how skilled the REALTOR is at pricing homes and marketing to suitable buyers. This is of course affected by other factors such as a hot or cool real estate market.
5. What’s your marketing plan? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who have aggressive and innovative approaches, and knows how to market your property competitively on the internet. Buyers nowadays want information fast, so your real estate agent should be responsive.
6. Will you represent me exclusively, or will you represent both buyer and seller in the transaction? While it may be legal to represent both parties in certain states, it is important to understand the practitioner’s obligations. We can assist you by explaining the differences between the agency relationships and the rights of each party, please don’t hesitate to contact Elliot by phone 626.757.4484 or email email@example.com.
7. Can you recommend service providers who can help me obtain mortgage, make home repairs, and help with other things I need done? Because real estate agents are immersed in the industry and constantly involved with the market, they are great resources as you look for lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive any compensation from any of the providers.
8. What type of support and supervision does your brokerage office provide you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.
9. How will you keep me informed about the progress of my transaction? How frequently? This question does not particularly have a right or wrong. It’s tandem to your own feelings. Would you prefer to have updates twice a week? Or would you preferred to not be bothered at all? Do you prefer phone? Email? Or a personal visit?
10. Could you please give me the names and phone numbers of your three most recent clients? Ask those clients if they would work with this real estate agent again. Find out if they were pleased by the follow-up, communication styles, and work ethics of your agent.