Can You Tell Me About Your Negotiation Style And Experience
You want to get the best deal when you are buying a house.
Because of this, you want to make sure that your potential buyerâs agent is a good negotiator. So, to make sure of this, ask about any additional courses theyâve taken in negotiation. You can also ask about examples of tough deals theyâve put through.
Can You Provide References
You might not need references if the agent has tons of reviews online, and some experienced agents might feel insulted if you ask for them, but a new agent most likely won’t.
Even brand new agents should have references from previous employers. Ask to see them and find out whether any of the individuals are related to the agent. Find out if you can call the references with any additional questions.
How Long Have You Been A Full
Okay,this isnt the time to give a big break to your buddys cousin who just got his real estate license. Or someone you barely know from a small group. A great agent usually has been working full-time in your market for at least four years. So if the agents response is, Well, real estate is my side job. My day job is selling encyclopedias, then you can politely inform them youre going with someone else.
An agent with four years of experience has learned things you can only learn on the job as a full-time real estate professional. If you find someone whos been working in your market for 10 years or more, thats even better. You know you have someone with a track record of success.
Location is also important. If youre looking to buy a house in Nevada, it does you no good to have an agent who specializes in Wisconsin. This is just common sense. An agent whos established in your home market knows how much houses have been selling for during the past few years, which schools are the best, and all the other quirks.
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What Employers Want To Know
During an interview, employers will ask general interview questions to get a sense of your skills and experience. Interviewers will also ask specific questions about real estate. You may get situational questions, which focus on how you’ve handled a given situation in the past. Behavioral questions are also common – these focus on how you would handle a future situation. As well, expect questions designed to find out what certifications and licenses you have.
Finally, many questions may be geared toward understanding how you work in the real estate environment, which can be fast-paced and competitive and requires strong organizational and communication skills. In your responses, make an effort to highlight these skills .
Potential employers are also interested in how you carry yourself. Presentation is key in this role – you’ll need to appear organized and professional in your appearance.
How Long Have You Been In Business And What Is Your Sales Volume
When youre placing what is most likely your largest investment in the hands of a professional, its important to understand their level of experience in the industry, says Jen Horner, a real estate agent with RE/MAX Masters in Salt Lake City, Utah. Youre looking for signs that the Realtor knows the market well and will protect you and your money throughout the transaction.
As part of this question, ask for sales data to back up the candidates recent transactions, and ask them to explain the trends theyre seeing in the market. These might include such details as supply and demand, the number of days a property is staying on market and what contractual terms are winning deals from both a buyer and seller perspective, says Horner.
How Will You Help Me Sell And/or Buy A Home In A Competitive Market
Are there very few houses for sale in your area? Are the ones that are on the market selling, like, immediately? Are sellers getting multiple offers? Are there tons of cash offers?
If the answer to any one of these questions is yes, then youre in a red-hot, competitive market. You need someone who really knows what theyre doing. Again, this is not the time to call mild-mannered Aunt Sally who sells a few houses on the side each summer.
If youre looking to buy, youll want someone who knows the community inside and outand is an expert negotiator. If youre selling, you want to know how accurate their pricing is. Find out their sale-to-list ratio, which you get by dividing the final sale price by the asking price. The closer this number is to 100%, the better. If its well over 100%, that means theyre getting more than asking price for the homes they sell.
What Loan Programs Do You Recommend Today And Why
There are local and national home buyer grants for first timers, but also for repeat buyers. Typically there are lower income requirements, but if the home buyer might fit the bill, the buyers agent should know and help them obtain that free money.
There are tons of different national loan programs out there, but sometimes a local lender or credit union will have the best offering.
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Question : What Technologies Do You Use To Market Homes And Attracts Clients
Exceptional real estate agents utilize social media, virtual tours, and other technologies to reach buyers and sell homes. Respond to real estate interview questions about technology with the following information:
- List the technologies you use.
- Cite an example of a recent home sale that used technology to its advantage.
What Is Your Expertise In The Type Of Property I Want To Buy
Buying a condo isnt like buying a house, and lofts, co-ops and commercial properties each have unique considerations and challenges. Its important that the agent you choose to represent you can help you focus on whats different and why thats important. In-depth knowledge about wet basements and knob and tube wiring doesnt matter if youre buying a condo, and knowledge about which lofts are the noisiest doesnt matter if youre buying a house.
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What’s Your Best Marketing Plan Or Strategy For My Needs
You’ll want to know how the agent plans to search for your new home if you’re a buyer, and how many homes she thinks you’re likely to see before you find the one you want. Will you be competing against other buyers? How does the agent handle multiple offers?
As a seller, you’ll want to know exactly how the agent will market your home. Is a direct mail campaign appropriate? Where and how often does she advertise? What kind of photography does she offer? Does she market online? What steps will she take to prepare your home for sale?
Ask if there’s anything about your home that might detract from its potential for sale. Perhaps, you could remedy and avert the problem.
How To Choose A Real Estate Agent
Get advice on hiring a real estate agent.
Without knowing how to properly interview and hire a real estate agent, many homebuyers end up hiring the first real estate agent they meet. It can be difficult to reject someone, but youll get the best home buying experience if you know how to choose a realtor thats right for you. Make sure you ask these 15 questions before selecting a real estate agent.
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How Many Years Have You Been Licensed In My State How Many Times Did You Close A Sale For A Buyer And Where Can I See That Record
Experience with State Laws Matter. A lot of consumer confusion in the real estate industry comes from widely varying real estate laws and traditions from one state to the next. Each state has a particular set of laws that apply to all local real estate transactions and the agents in that state have certain traditional expectations that might differ . If the agent is only recently licensed in the state you want to buy in, there might not be nearly as experienced as they sound.
Experience Matters to Protect You From Home Hazards. We have a lot of potential home hazards in the greater Portland metro. These hazards if not identified, can cost the home buyer tens of thousands of dollars. Asbestos, earthquakes, fires, floods, mold growth, landslides, radon gas, broken sewer lines, and buried oil tanks only start the list. The general home inspection is not designed to catch all of these potential problems. An experienced buyers agent, based on the house and location, will know what additional tests should be ordered and recommend them to you. This sort of knowledge comes best through experience and training.
Experience Matters in Negotiations and Market Timing
Experience Matters in Winning Bidding Wars
Be Careful. Verify.
Ask to see their sales record. If they are truly experienced, this request will not offend them, they will be excited to share it with you. Every agent can provide evidence of their sales record off their local MLS.
What Kinds Of Partnerships Do You Have With Home Service Professionals
Youâll probably need to have the contacts of a good real estate lawyer, a good home inspector, a good appraiser, and more. When picking a buyerâs agent, it can significantly decrease the amount of stress you are under if they already have connections in the industry and you do not have to seek these people out yourself.
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Do You Work Independently Or With A Team
Some people think real estate is a solo sport, but many agents work on a real estate team with other agents, an administrative assistant, and a team leaderand there are benefits to working with an agent whos part of a pack. 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.
How Many Real Estate Agents Should I Interview
Depending on the size of your local market, you should interview at least three agents so you can compare and contrast what theyre offering. But of sellers who use an agent, 63 percent contact only one, while 21 percent contact two, and 17 percent contact three or more. Its worth interviewing multiple agents so you can find the right person for your needs.
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Question : What Makes You A Good Real Estate Agent
Your interviewer will want to make sure you know your stuff. But this is one of the real estate interview questions that reveals your self-confidence as well, which is just as important in jobs that depend on successful client relationships.
- Focus on one or two of your best qualities.
- Explain how and why those qualities have contributed to your success.
Why Are You Here Specifically
If they are interviewing four other teams, maybe let them go with those teams. If they got into real estate because of you, or were inspired to join your team, or your brokerage, then they want to be there. They were intentional before arrival. Never beg for anyone to be a part of culture. They either are, or are not. You will know. Its a gut feeling.
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I Need To Sell My Existing Home Before Purchasing A New One How Will You Help Me Ensure I Can Sell My Home Before Closing On A New One
There is no right or wrong answer here. Every real estate transaction is unique and depends on your specific monetary situation and market conditions. However, a quality Realtor should not hesitate to tell you the reality of the situation. This may include advising you that selling your primary home is necessary if you do not have the funds to secure financing quickly.
The strategy your Realtor proposes may mean working creatively to gain the funds without creating undue risk. In a sellers market, any offer contingencies put you at a disadvantage. A buyers agent will walk you through the risks and help you decide the best steps forward.
In some cases, you may have to move into temporary housing after selling your home. This could involve living in an Airbnb or extended stay hotel for a few weeks or months. Also, ask your Realtor about rent back agreements, where you can continue living in your home as a renter after the sale closes. This could give you access to funding while also making your move smoother if you are just bringing items across town.
How Do You Ask Someone To Be Your Real Estate Agent
Most real estate agents are easily reached by phone, email or programs like our Endorsed Local Providers . Our program makes it super simple to find real estate agents who are RamseyTrusted and are highly qualified to serve you with excellence. All you have to do is share some info about your home purchase or home sale, and then well send you top agents in your area who you can trust. Hop on a call to ask the agents a few interview questions so you can choose the one you like best.
How Many Real Estate Agents Work At This Brokerage
This might seem like a straightforward question, but always ask how many agents work at a particular brokerage. More agents could mean that the firm has more brand recognition, but it might also mean that its more impersonal. Small or boutique firms are great for those who like to work closely with others, but they generally offer less in terms of resources.
Can I Talk To Some Of Your Past Clients
Hopefully, youve done your due diligence before the meeting and have already sought online reviews for the agents youre meeting with. But what would those past Buyers say about their experience now? Even if you dont want to call references, how the agents handle the question during the interview can tell you a lot.
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What Is Your Marketing Game Plan
A thoughtful marketing game plan thats documented for review is ideal, says Horner. Agents should provide a timeline for your sale based on the current market and a detailed outline of the marketing campaign crafted for your home.
As part of that marketing plan, youll want to know whether the agent will offer such services as professional photography, videography and flyers. Are staging services an offering they provide? Discuss open houses and private showings will feedback be shared? says Horner. She also recommends asking about how they would market your home digitally. What online presence are they offering? Website, online syndication, social media exposure?
Question : How Do You Determine What Properties To Show Clients
The client relationship is central to an agencys success. Many real estate interview questions are aimed at learning how you connect with clients to determine what they really want in a home.
- Describe your process for building a client relationship.
- Mention any standard questions you ask to determine client wants.
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What Price Would You Recommend If I Were In A Rush To Sell And If Timing Were Not An Issue
Asking this question shows you what an ambitious pricing strategy might be versus a tighter, more efficient pricing strategy, says Steven Gottlieb, an agent at Coldwell Banker in New York City. It will also show you if the agent is capable of critical thinking and navigating a complicated market.
Many agents quote potential sellers unrealistic asking prices in order to win the listing, Gottlieb says. Requesting more than one asking price makes it harder to fudge the numbers. You should also ask agents to show you the real estate comps and explain how they arrived at the proposed selling prices for each scenario, he says.
What Happens If The Inspector Finds Something
Theres nothing worse than finding your dream home and discovering it has termites, right? Not necessarily. Talk with your agent about how theyll handle unforeseen problems. Usually, terms can be worked out with the seller in the form of repairs or concessions to make up for any issues uncovered during the inspection.
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Can I Review Documents Ahead Of Time
A good real estate agent will make important forms available to you for preview before you’re required to sign them. Ask for these documents upfront, if at all possible. And, make sure during the interview stage that an agent is agreeable to this.
As a buyer, ask for copies of the buyer’s broker agreement. Is it exclusive or non-exclusive? Ask for copies of agency disclosures, any purchase agreements, and buyer disclosures.
You’ll also want to see the agency disclosure if you’re the seller. Ask for a copy of the listing agreement as well, and of your seller disclosure.
Prepare Questions To Ask The Interviewer
It’s wise to prepare a few questions to ask the interviewer at the end of your meeting. These questions can help you demonstrate you researched the company and are familiar with their market. Be sure to ask questions that help you determine if the company is a good fit for you. For example, you may ask about work-life balance for employees or the team dynamic in the company.
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