10 Questions You Must Ask When Interviewing an Agent

Warning! Do Not Hire Any Real Estate Agent Before You Read This FREE Special Report

Not all real estate agents are the same. If you decide to seek the help of an agent when selling or buying your home, you need some good information before you make any moves.

Picking the right agent is one of those critical issues that can cost or save you thousands of dollars. There are very specific questions you should be asking to ensure that you get the best representation for your needs. Many agents would prefer that you don't ask these questions, because the knowledge you'll gain from their honest answers will give you a very good idea about what outcome you can expect from using this agent. And let's face it - in real estate, as in life - not all things are created equal.

Hiring a real estate agent is just like any hiring process - with you on the bosses side of the desk. It's critical that you make the right decision about who will handle what is probably the single largest financial investment you will ever make.

To help homeowners do a better job of choosing an agent, this report identifies 10 critical questions that will help you make an accurate prediction of how good a job this agent will do for you.

1) Obviously, you want to know their name and the firm that they work for. Is it a Firm that you are familiar with? Have you seen it's marketing efforts in The Real Estate Book, newspapers, periodicals, Billboards? If you have seen their ads before, it will give you an indication of how the firm will market your property and where it will be seen. Make sure you get their business card for reference.

2) How many years have you  been a real estate agent, and how many of those years have been in my local area? Nothing can compare to experience. A seasoned agent who has been established in your area for 5 years or more, can guide you through obstacles that often arise in the course of a transaction. They've seen them before. They've created the solution before. That's not to say that a new agent can't represent you properly. Many new agents will go the extra mile that some "old timers" will not, but 9 times out of 10 a seasoned professional will do a better job for you.

3) How many homes have you sold in the last year? What was the average selling price of those homes? An agents track record will go along way on showing you what kind of work ethic he/she will exhaust on marketing your property and making you happy. Understand that if the average selling price of their closed transactions is $400,000 or $500,000, they're just not going to sell as many homes as a comparable agent selling $250,000 homes. Some agents specialize in higher quality properties and not as much volume. The bottom line is that you want to see a proven history of success.

4) Are you a Realtor? A Realtor is a member of the local, regional, and national Board of Realtors. By being a Realtor, it tells you that the agent subscribes to a code of ethics that is unmatched in the Industry. They are up to date on any changes that may affect your transaction, and they are held to a higher standard of accountability, by the Board and your state commission. Being a Realtor also normally means that they have their own access to the MLS,  or multiple listing service, which is a must for marketing your home. This will put your property in front of every other agent in your area, and in front of their clients and buyers.

5) How would you market my home if listed? This is a BIGGIE. More Exposure means your home will get the fair market value price that it deserves. There are several different ways a professional Realtor will market your home including, but not limited to,..

                    MLS - As we said before this is a must.

                    Ads in the local Real Estate Book - EVERYONE reads the Real Estate Book. Everytime you come out of the grocery store, drug store, convenience store. They're everywhere. And once they find their way to a potential Buyers home, they tend to hang around forever.

                    Exposure on the agents website - This is also a huge benefit for marketing your home. More and more buyers are going to the web FIRST, when they get ready to buy a home. On an agents website, they can list all of the features and amenities that your home has. They will have pictures of your home. They may include a floorplan. And some will even include a virtual tour of your home. The agent will have someone come in with a video camera and do live footage of your homes areas to put online. All of these things will get your home sold faster and for more money.

                    In house tours - This is another benefit of dealing with an established office. Every week or every two weeks, these firms will select 6-10 properties and take each and every agent in the firm to your property for a walk through. Every established agent always has 2 or 3 clients that are looking to buy a certain type of home. They know what their clients are looking for and have had time to show them 3 or 4 properties, and they have specific needs in mind. When all of the agents come through your home once or twice a month, you're essentially getting each and every one of them to work for you. If your home meets that criteria that their clients are looking for, I guarantee you, that they'll be on their cell phone from the moment they leave your home. Again, it's incredible exposure.

                    Open Houses - Open Houses are a chance to get as many possible Buyers through your home at one time. It will generate leads that are crucial to the agents business, while putting the benefits and interior aspects of your home in front of as many people as possible. You'll have everyone under the sun visit an open house, including the tire kickers and "just curious", but you know what? Every one of those curious and tire kicking people probably know at least 1 person that is getting ready to buy a house.

                    Yard Signs - 80%-90% of all serious buyer calls are generated from a sign in the front yard of the home. This is the biggest "buyer magnet" that your agent can and should utilize. There is a buyer for every house. And when that buyer happens to come by your home, you want to have the agents number right in their face. It's the perfect filter to get to the true buyers. They will be the one to call about your property.

All of the above are ways in which your agent should be marketing your property. And because the agent works for You, you will give them permission on the listing agreement for each type of marketing that they will employ.

6) Will you call me once a week to keep me updated? Folks, it's no doubt that agents are busy people. It can sometimes be crazy and tight to say the least, but a professional will touch base with you every 7-10 days to let you know what's going on. Now, in some cases, if the home is vacant, and you live out of town, you may go a little longer without hearing from your agent. These are special instances. Whatever the case, go over this regular communication with them at the listing presentation, so that everyone is on the same page.

7) What is the term of the listing agreement? This will vary on the type of home and the market that you are in. Normal listing terms run from 3 to 6 months. If it's a larger, higher end home, it may be as much as 1 year. Most homes should be sold within a 6 months or less. Never sign an agreement longer than 1 year. At the end of your agreement, you can choose to sign a new agreement if you like. And if you feel they are marketing your home properly. Also see when will it sell.?

8) What is the commission? Folks, no matter what you hear about commission, it's ALWAYS negotiable. ALWAYS. There is no standard. There is no set amount that it has to be. It's negotiable. The local custom may be for 6% or 7%, but nothing is set in stone. Some agents who sell higher priced homes will market and sell them for 3%-4%. Keep in mind also, that this agent is going to spend hundreds, if not thousands, of dollars and countless hours of time marketing your property. Don't expect them to just break even. This is their career, not a volunteer group. You can talk with the agent and negotiate. They will tell you if they can, or can not, market the property for what you are willing to pay in commission.

9) Can you give me the names of other individuals and families that have used your services? A lot of agents keep a book of testimonials with them to show at listings. If you've been referred to the agent through a mutual contact, then you may not need this. It's always great to know that your agent has helped many others before you. Once again, ...track record.

10) And finally, this one you really want to ask yourself. Do you like this person? Did they bring a Current Market Analysis with them to go over the value of the home? Do you feel comfortable working with them. If so give them the business, and stay in contact on a regular basis. Professionals exude confidence. It's just like breathing to them. It's second nature. Make sure you're comfortable with all of the information that they go over with you, or ask questions. They will be happy to answer them.

If we can ever answer ANY questions or be of assistance please feel free to contact us.