Interview your Realtor!
Generally, people are interviewed when applying for a job, and hiring a real estate agent should not be any different. Finding the right agent that fits your needs will make for an easier home buying process. It’s a good idea to know the agent’s communication style, work ethic and goals before entering into a partnership with them. Additionally, it’s not uncommon for the real estate agent to interview you as a client, so don’t be caught off guard if you are probed with questions as well. This helps them to determine your level of seriousness because good agents will be selective of whom they work with.
The following questions can help determine which agent to use:
1. How long have you been a real estate agent?
There are benefits to using new agents, the biggest being that they normally have more time to spend on you then a veteran agent who probably has multiple clients. A new agent might be a good fit, provided they have an excellent mentor and have done well in their company training. Conversely, veteran agents have more experience in the industry which could make for a quicker home buying process.
2. What is your list price to sales price ratio?
In a buyer’s market, a good buyer’s agent should be able to negotiate a sales price that is lower than list price, and a superior listing agent should be able to deliver a seller a sales price close to the list price. To close, listing agents should yield higher ratios than a buyer’s agent.
3. What would be your strategy to meet my needs?
How will you search for my new home?
- How many homes will I likely view before buying?
- Will I have to compete against other buyers?
- How do you handle multiple offers?
- Will you present my contract to the seller yourself?
4. Can you provide references?
If the agent was not referred to you by someone you know, it can be helpful to get references from the agent’s past clients who will be able to give you their review.
5. What top 3 things set you apart from your competition?
Keep in mind the major qualities you are looking for in an agent. Here are some considerations:
- Honest
- Strong negotiating skills
- Readily available (give you their cell phone number)
- Friendly
- Communicates well, orally and written
- Analyzing neighborhoods
- Works well under pressure
6. Can I review all documents before I have to sign them?
Be sure they are open and willing to share and explain all documentation involved in writing a contract for your home. (Buyer’s Broker Agreement, Purchase Contract, Agency Disclosures, Buyer Disclosures, etc.).
7. Do you offer any type of guarantee?
If you are not happy with your agent’s performance, you need to know if there is a cancellation policy to address. It could be insightful to know ahead of time if they have ever had a client cancel with them and why. Do not be afraid to ask!
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