Thursday, November 24, 2022

How Many Realtors Should You Interview

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How Do You Handle Viewings

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The use of digital tools such as virtual tours have made properties more accessible to more buyers. Thirty-six percent of people say theyd consider buying a home entirely online, Zillow found, and 43% percent would be more likely to try to sell a home entirely online.

Buyers who prefer to see homes up close can ask Realtors how many viewings they typically schedule in a day or a week, per client. Sellers will want to get the details on how often open houses will be scheduled and how theyll be marketed.

Preparing And Staging A Home For Sale

  • Can you show me how to make my home more marketable?

A Realtor should be able to give you some simple advice on how to make your home as presentable as possiblethings like whether or not it would be worthwhile to improve or properly staging a home for sale. The general rule on improvements is to make them when they are really going to enhance the saleability or give a significant return on the money spent.

How Are Successful Agents Recognized

As a motivated and passionate new agent, you are probably banking on becoming a successful top producing agent or even a company leader in the near future. The rewards of selling a plethora of homes is definitely lucrative enough in itself but wouldnt you like to be recognized or even rewarded in some way for your top notch success?

Many brokerages have agent recognition programs for new and seasoned agents alike, ranging from fancy company award galas to equity opportunities within the company. Make sure you ask about their different incentives for agents who reach various benchmarks in their real estate careers, these can make a difference financially in the long run.

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How To Interview A Realtor When Selling Your Home

Kyle Hiscock

Kyle Hiscock | Re/Max Realty Group

Have questions about buying or selling a home?

How to Interview a Realtor When Selling Your Home

When selling your home, choosing the Realtor who will represent your best interests is one of the most important and one of the first steps in the process. Unfortunately, many sellers do not understand how important this is or believe that to be the case. There are specific things that you should expect from your real estate agent when selling your home.

A piece of advice if you are thinking about selling your home, do not hire a Realtor because they are just your friend or because they are a colleagues spouse. Every Realtor is different, period. There are many consumers who believe every Realtor is the same and they all do the same things to sell homes, which is the farthest from the truth! Each Realtor runs their business differently, advertises in different places, and utilizes different sales techniques.

It is very easy to obtain a real estate license, however, being a top producing Realtor is not easy. In many real estate markets, the 80/20 theory is accurate and in others it is not! The 80/20 theory is simply put that 80 percent of the local real estate business is done by 20 percent of the local real estate agents. This may seem shocking, but in some communities, the ratio can actually be closer to 95/5, 95 percent of the real estate sales being done by 5 percent of the local real estate agents!

  • Do you utilize social media?

How Will I Have Administrative Support

How Many Real Estate Agents Should you Interview to Sell ...

Administrative support from your brokerage can include things like accounting, tech support, human resources, on-boarding, legal, and compliance. A brokerage is like any business and has systems and staff in place to look out for your needs as an agent.

Some brokers will do a lot of these tasks themselves while other brokerages hire a team of staff to support you with each situation. New agents should not overlook administrative support from the staff because a lot of your business rely on these details to be perfectly in place. If your website has an error, you would want your brokers tech support to be fast and responsive in getting these issues fixed for you so you can run a smoother business.

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Questions To Ask When Choosing A Real Estate Agent To Sell Your House

By Ilona Bray, J.D.

If you’ve identified a few real estate agents who seem like good candidates to sell your house and have checked out their websites, the next step is to arrange an in-person meeting. Allow at least one hour to show the agent your home and discuss possible prices and issues in the sale. Here are the topics you want to discuss:

How Well Do You Know The Local Market

A Realtor who knows a particular area or market well can offer an advantage when buying or selling. Ideally, you should work with an agent who understands the local market and what trends drive it.

The more informed they are, the better equipped they are to do things like comparative market analysis, which can give you a sense of how home prices in the area are trending.

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Question #: Can I Cancel Our Agreement

This is the most important question to ask a realtor.

The answer you get will 100% tell you about the realtors integrity.

Let me tell you why

When you decide which real estate agent youre going to sell with, youll sign an agreement with them.

This is exclusive to you and your agent.

The length of this agreement is usually 6+ months.

This means that you cannot fire your agent and hire another one during this time.

This also means that as long as your house sells, your realtor gets paid, whether youre pleased with their services or not.

Because of this, many realtors will overpromise during your first meeting with them.

Theyll do and say whatever they have to so that youre locked into an agreement with them.

The most common one?

Telling you they can sell your house for an unrealistic price.

This is especially common among top real estate agents.

Many of them base their entire business model on this and have been doing so for years.

They market themselves as a top selling agent or neighborhood expert and suggest an inflated price to get the seller to sign the agreement.

Heres the thought process for the realtors who do this. Their plan is to:

  • Get you excited about a higher price
  • Sign the listing agreement with you
  • Let the home sit on the market
  • Tell you to reduce the price
  • Sell the home at a lower price, but they still get an agent commission

When this happens, the listing becomes stale and buyers start to wonder whats wrong with the property.

How important?

Who Do You Think The Buyer For My Home Will Be

8 questions you should ask when hiring a real estate agent

This is a great marketing question to ask a real estate agent.

The type of buyer for any given home can be different depending on the area, property type, price range, selling features, etc.

For example, a buyer for a condo in San Francisco is probably going to be different than a buyer for a single-family residence in a suburban neighborhood.

A buyer for a home listed in a retirement community is going to be different than a home for sale in Downtown Austin.

The answer youre looking for is something specific.

Of course, your buyer can be anyone, but every home will appeal to a larger demographic more than others.

A generic answer most likely means the agent doesnt know who theyre selling to.

This doesnt mean you wont get a great offer, but it does mean their marketing plan wont maximize the opportunity.

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What Buyers And Sellers Should Ask Real Estate Agents

Here are the key things to find out, whether you’re buying or selling a home.

Will the agent represent my interests?

You might assume any real estate agent you choose will represent only your interests. But in some cases, real estate agents aren’t legally required to represent solely the buyer or the seller in a transaction. For example, a “dual agent” represents both the buyer and the seller in the same deal, and a “transactional agent” works with both sides, but has no fiduciary responsibility to either.

Understanding the nature of the agent’s role when working with you is critical. Ask prospective agents if they will represent only your interests through the entire process, and request a written form that discloses the relationship, advises the Consumer Federation of America.

What experience and training does the agent have?

How long has the agent been working with clients, and what training or recognition does the agent have? Look for an agent with a good track record of serving clients like you.

Will the agent or assistants work with me?

Agents sometimes have assistants working for them on a team. Will you work more with the agent or with the assistants? An efficient team can serve your needs well, but make sure you’ll have enough direct access to the agent.

How much will the agent be paid?

Usually, the seller pays the real estate commission, which the listing agent splits with the buyer’s agent. A typical real estate commission is 5% to 6% of the sales price.

What Role Do Lenders Play In The Home

Mortgage lenders are responsible for issuing loans to home buyers. Unless youre going to buy a home with cash, youll need to secure a mortgage from a lender.

The first step of working with a lender typically involves getting preapproved for a mortgage. The lender will assess your complete financial information to decide how big a mortgage you are eligible for.

Shop around and get multiple quotes from different lenders to determine whos willing to give you the most money. The first loan that comes your way may not be the best.

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What Fees Do You Charge

Real estate agents typically work on commission, meaning they only get paid when they close a deal. What youll pay and when depends on whether youre buying or selling a home.

If youre the buyer in a transaction, the seller is usually responsible for paying commission fees to both their agent and yours. If youre selling a home, youd cover the agents fees and theyd be deducted from the proceeds of the home sale.

The typical commission is 5% to 6% of the homes sale price, split evenly between the buyers agent and the sellers agent. So a $250,000 home, for example, would yield $12,500 to $15,000 in commissions.

Finding A Real Estate Agent: Tips For Buyers

How Many Agents Should You Interview Before Picking One to ...

Here are some things to think about when choosing an agent to help you buy a home.

  • What challenges will I face as a buyer in today’s market? A good agent will set realistic expectations by explaining the availability of listed homes and the level of competition you’ll face with other buyers.

  • How will you help me find listed homes in my price range? Ask for examples of how the agent has recently helped other buyers similar to you. This will give a sense of how well the agent will serve your needs.

  • How will you help me make competitive offers and negotiate with sellers? Look for an agent who will help you stay grounded within your budget and goals.

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Other Resources From Top Agents On Selecting A Realtor

Use these additional helpful resources to make sure the Realtor you choose to represent your best interests is the right one! If you have not figured it out by now, the real estate agent you want can go a long way to the success you have in selling your home.

About the Author: The above Real Estate information on the how to pick a Realtor was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at or by phone at 508-625-0191. Bill has helped people move in and out of many Metrowest towns for the last 32+ Years.

Are you thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

I service Real Estate sales in the following Metrowest MA towns: Ashland, Bellingham, Douglas, Framingham, Franklin, Grafton, Holliston, Hopkinton, Hopedale, Medway, Mendon, Milford, Millbury, Millville, Natick, Northborough, Northbridge, Shrewsbury, Southborough, Sutton, Wayland, Westborough, Whitinsville, Worcester, Upton and Uxbridge MA.

Real Estate Skills List

Here’s a list of real estate skills employers seek in the candidates they hire. Skills will vary based on the position for which you’re applying, so also review our list of skills listed by job and type of skill. Mention these skills during your interviews, and incorporate them into your resume and cover letters.

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What Haven’t I Asked You That You Think I Should Know

Pay close attention to how the real estate agent answers this question. There’s often something else you might need to know, something you forgot to mention.

You want an agent who will take the time to answer this one and make sure you feel comfortable and secure with her knowledge and experience. She should know how to listen, how to counsel you, and how to ask the right questions to find out what she needs to know to serve you better.

Question #: Have You Sold Homes In My Area

Should You Borrow Money To Invest in Real Estate? – Interview with Peter Schiff

This isnt as important of a question to ask your realtor as it used to be, but theres a reason why I included it.

Twenty years ago this question was much more important than it is today.

Why?

The Internet.

Today, many buyers search online and are able to find out everything they need to about a neighborhood.

When I say everything, I mean everything

  • Schools
  • Crime
  • Recent sales

But there are some things about a neighborhood that buyers wont be able to find online.

This is why you want a real estate agent who has some experience selling properties somewhat close to yours.

Theyll know the selling points of your area, which can help potential buyers justify a higher offer price.

But if they dont have experience selling in your area, you shouldnt cross them off your list.

Most sellers ask this question when interviewing real estate agents because they think its a necessity. Its not.

If the realtor answers this question with no, then you want to hear an answer that includes how they plan on getting the information about your neighborhood that theyll need.

A savvy realtor can do their homework and get all the information theyll need.

Plus, youll be able to tell them what you think the selling points about your area are.

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What Other Professionals Can You Recommend For My Home Selling Experience

A good realtor should be well-connected in the industry. Ask potential candidates whether they know lenders, contractors, appraisers, and inspectors who can help your sale go smoothly. If they donât have a decent network, thatâs a red flag, and you shouldnât be surprised if you end up encountering some roadblocks and slowdowns along the way.

Choose Three Or Four Real Estate Agents To Interview

Every realtor handles their business and their partners differently, so get to know the person youll be working with to sell your home. We recommend you interview as many realtors as you can. Interview no less than three agents so you can get a sense of what working with your new partner will be like.

Even though you may have information about the realtor from the internet already, verify your assumptions about the realtor in the interview. Ask them to explain their strengths, expertise, and to fill you in about the information you couldnt find about them.

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Whyyou Should Interview More Than One Real Estate Agent To Sell Your Home

Less is more may be a good philosophy inmany contexts, but interviewing real estate agents to help you sell your homeisnt one of those contexts. Here, the rule of thumb is rather more is better for many, varying reasons.

First off, employing the services of a realestate agent that is both qualified in their field and experienced in the areawhere they do business is the single best thing you can do to ensure the fast,profitable sale of your home.

Many people think theyd do better bytrying to selltheir home privately, saving on the commission real estate agents typicallycharge for their services. However, upon using an agent to help them sell, manysellers often quickly realise that the potential financial gains of using theservices of a real estate professional far outweighs what you pay incommission.

The key here is that real estate agentsoperate in this field professionally, with access to a larger database ofpotential buyers, more marketing resources and greater expertise than amateurswith no experience of the real estate industry.

Still, getting a good overview of the poolof real estate agents operating in your suburb or city is the best way to findone whose vision aligns with your own the most. This is why it is important tointerview more than one real estate agent in the search for someone to help youget your home from for sale to sold.

Are You Planning To Help Me Find Other Professionals

Mortgage Processor Interview Questions

Your realtor should be able to present you with a list of professionals they recommend for services such as home inspectors, title companies, and mortgage brokers. Ask the agent why they prefer these specific professionals. If you see the word affiliated anywhere on the list, be careful because oftentimes this means the agent and broker are receiving a referral payment or compensation of some sort if they convince their client to use the professionals services. You could possibly be paying a premium for these services, so make sure to do your own research as well to find out how much these services run on average.

Hopefully this helps give you an idea of what questions to ask when interviewing agents. If you have any other questions feel free to contact us at or 512-653-9999.

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