What Skills Do You Feel Are Most Important For An Estate Agent Job
An interviewer may ask this question to learn more about your qualifications and abilities relating to the job. Try to describe what areas you feel you’re strongest in and how they relate to real estate. One quality you may mention is strong communication skills. You can tell the interviewer how important it’s to listen to a client, so you understand their needs and wants. This can save you time when you only show them houses they have a better chance of buying.
Example:’Communicating well and building good relationships with clients are essential skills for an estate agent.I always make sure I listen and understand what a client is seeking when buying a property. I also preview the homes on my own before bringing a client. When I do a quick walkthrough of the potential houses, I might spot details they may like. For example, I may notice the master bedroom has a walk-in closet, which the client said was important. I feel that my active listening and empathy allow me to select the best listing and optimise my clients’ time.’
What Should I Look For When Touring Houses
As a first time home buyer, its tempting to focus on eye-catching features like stainless steel appliances, on-trend paint colors , and expensive floors. But, if you only look at those details, you could be missing crucial problems. And, you could end up with a nightmare home, eek.
Your Realtor can help you look for problems that are hard to fix. Water damage, sagging ceilings, or insect damage can be costly to repair.
Can You Recommend Mortgage Lenders And Other Trustworthy Professionals
The financial aspect of buying a home is always important. You can start reading this article: how much house you can afford to know if you are ready to purchase your new home. Some real estate agents can help you with this process but they can also do something even better recommend other professionals to help you in your home buying journey. So, dont forget to ask if your agent can recommend a real estate attorney. You may ask the agent to refer an inspector but it would be better to avoid an independent inspector to avoid any conflict of interests.
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What To Expect When Working With A Real Estate Agent
Once your home is listed with a real estate agent, they will immediately begin to market your home according to the most appropriate conventions for your community. A real estate agent keeps you informed as the marketing process unfolds and as expressions of interest are received.
Be sure to specify how youd prefer to communicate. Some clients prefer email or texts. while others only want to be called or have in-person meetings. Whatever your preference, its best to outline those expectations upfront so everyone is working with clearly-defined objectives.
The same holds true for buyers. Because buyers are constantly meeting with their agent to see properties and give feedback on the properties theyve already seen, communication is important. If you like to communicate via text message, let your agent know. All forms of communication are not acceptable to everyone. Make sure you have an agent who communicates with you in a way you find acceptable.
Every client should expect professionalism. That means a real estate agent will always expect you to be on-time, and you should expect the same from a real estate agent.
Remember, the real estate agent is your advocate in the transaction, whether you are buying or selling. Once you have signed up with an agent to represent you, he or she is your face, your voice, and your defense against all involved in the multi-layered home buying or home selling process.
Meeting Questionnaire And Interactive Questionnaire
Once the buyer has submitted the online form, I reach out to book the buyer consultation. I shoot to arrange the buyer consultation at my office or at a coffee shop. Some people are adamant about having the buyer consultation at their office, but I think its best to have the meeting at a spot that suits the buyer. During the buyer consultation, I want to get to know the buyer and I want a relaxed environment for them. Also, when asking a buyer what they are looking for in a real estate agent, on the top of the list is usually availability. Buy catering to their needs and meeting them in an area that suits them, you are already showing you are available!
After some small talk, I like to jump right into the questionnaire. Remember that they control the answers, but you control the process.
When working through the questionnaire, I start with a few foundational questions, then I jump into the interactive section.
Foundational Questions
1) Where are you living now?
2) How long have you been there?
3) What do you like about it?
4) Have you purchased a home before?
o Yes – Tell me about that experience? Is there anything you would have changed?
o No – How familiar would you say you are with the purchasing process in STATE/PROVINCE
5) How long have you been looking for a home?
6) What resources have you been using to look for homes? Have you been out on any viewings with a REALTOR?
Interactive Section
This then leads to these questions.
2) Describe your ideal home
3) Beds/Baths
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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.
How Long Will It Take To Sell My House
A real estate agent should be able to estimate how long it will take to sell your house based on their pricing strategy and local market trends.
The national average selling time is 11.7 days, but this varies by region as some markets are more active than others.
You cant expect a realtor to know exactly how long it will take to sell your house, but their estimate should be based on data.
For example, a listing agent who knows what theyre doing might say something like, Houses in this neighborhood are under contract within 25 days of listing, on average. Since your home is priced below the median home value in the neighborhood, I would expect that it will sell in less than 25 days.
Watch out for agents who promise to sell your house faster than anyone else!
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What Experience Do You Have
An agent’s experience is more than just how many years he’s been in the business. Other details can give you more insight into his success. One factor that speaks volumes about a seller’s agent is his list-price-to-selling-price ratio. You get this ratio by comparing the original list price of the property to the price at which it eventually sold. A good agent will come prepared with this number. The rule of thumb is to choose an agent with a ratio as close to 100 percent as possible, which means that his home’s final sale prices have been close to the listing prices.
However, after you hear the number — even if it’s impressively high — you still might want to inquire into the reasons behind it. Perhaps the agent usually has a house sit on the market for a long period of time to get the best price. Depending on your situation, you may or may not have the luxury of time on your side. A low number could reveal that the agent pushes sales too quickly. Although logic tells you that an agent is interested in a higher price to get higher commission, time is sometimes more valuable to him. In the agent’s mind, he’d be better off spending that time selling other houses.
Now that we’ve looked into his past, let’s peer into the future to see how your potential agent will work with you.
What Is Your Unique Value Proposition What Are The Top Three Things That Separate You From Other Realtors
A good agent will have this answer prepared and will be ready to fire off the reasons why he or she is best suited for the job. The reality is that a lot of realtors do not have a unique value proposition , and youll be able to tell the great agents from the OK agents by asking this question. There are about 14,000 realtors in the Greater Vancouver. A lot of them say they can get you top dollar or do something in the quickest amount of time you need to find out how will they do that better than the other 13,999 agents. It could be their strategies and tactics, background, experiences, tools, expertise, guarantees
We hope that this blog has helped you to determine the best questions to ask a realtor when interviewing for the position of assisting your home purchase or sale. If you are looking for a realtor, give us a call at . Prefer text? or email to set up an interview.
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What Does A Realtor Do
Before we get to those questions, heres a refresher on what a real estate agent can do for you. In general, an agent represents their client buyer or seller, and in some cases both throughout a real estate transaction, guiding them through all of the important paperwork and acting as a liaison between the involved parties. An agent also has access to the multiple listing service and can find homes for sale before theyre listed to the public. REALTORS®, agents and real estate brokers all hold a wealth of knowledge about the market that would be valuable to any buyer or seller.
Be Flexible In Your Home Search
With a good agent secured, search with an open mind — it’ll be easier than adjusting your expectations later on. I’ve seen first-time homebuyers paint themselves into a corner by getting caught up in their idea of a dream home.
The vast majority of first-time home buyers are unlikely to get their top choice. The more flexible you are, the higher your chance of success. It may be helpful to rank the features you want most before you start your search –that’ll help you assess your options once you begin visiting potential homes.
If you’re priced out of one market, you may need to consider an alternative locale. This is where you can get more proactive, and get an edge on other buyers by researching new construction on the outskirts of a hot market, or learning about upcoming local infrastructure projects along public transit routes.
Open and closed permits for residential work can give you insight into where commercial development may be going on. If you’re willing to wait out plans for a few years, you may be able to get a discount on a home. This approach can also help boost your equity over a short amount of time. This information is typically available through your city or county website. Your agent should be able to help you find this information, as well.
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How Will You Present My Offers To Sellers
Ask to see an example of their offer packet or format, says Severance. This is hugely important. Youre not likely to meet the seller in person, so all they will know of you is what is on paper when your offer is presented.
The agent should put a professional cover letter on your offer package that introduces you and provides a compelling summary of your deal points, while also explaining why you are a desirable buyer, she says.
How Will You Keep Me Informed
In most relationships, communication is key. Your partnership with your real estate agent is no different. You need to know, up front, how he will keep you in the loop. This means finding out several factors like what kinds of news he’ll update you on, the frequency of updates and how the agent will communicate them. Will your listing agent let you know about every interested buyer, no matter how serious?
If you’re a buyer, there are a number of details to handle, even after a seller has accepted your offer. This includes home inspection, reinspection, mortgage paperwork, title search, title insurance, repairs and other items. Will you get a weekly update, or just on an as-needed basis? Will it be with a phone call, an email or both? You may have your own preferences, and the agent may or may not accommodate them.
Ask for details about how accessible the agent will be for you, since you’ll have questions and concerns throughout the selling or buying process. Find out what business hours he keeps and — at the risk of sounding like a stalker — if you can call him outside of those hours on his cell or home phone. Whether he answers e-mails in a timely fashion will also become important down the line. Hopefully, he’ll have positive responses to these questions, but it’s always smart to verify them when you check his references.
Our final question might sting a little — it’s time to turn the tables and ask the agent to deliver some bad news.
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How Do You Use The Internet And Social Media To Sell Homes
Social media is a common way real estate agents sell homes. This is where potential buyers are looking to find houses, so having experience with these networks is essential. You can answer this question by talking about how you make sure all listings are online with thorough information. This way buyers have all the information they need to book a showing.
Example:I use my website, Facebook and Instagram to sell my homes. To ensure the homes look beautiful online, I always hire professional photographers to take photos of the houses. Last month, one of my listings got 50 shares on Facebook and 30 comments on Instagram.”
“In addition, I also invest in monthly social media ads that directly target my ideal homebuyer. Ive found this marketing strategy has increased my sales by 10% over the past nine months.
Different Types Of Real Estate Agents
During your initial search for an agent, you may have come across a few fancy certifications and titles that are hard to recognize. Lets take a look at the most common ones and what they mean.
- Realtor®: A Realtor® is a licensed real estate agent that is also a member of the National Association of Realtors . These agents must abide by the associations Code of Ethics and its governing rules outlining an agents duty to their clients, the public, and other real estate professionals. Of the estimated 2 million active real estate agents in the U.S., there are over 1.5 million Realtors®. Kauffman says if you work with a Realtor®, youre usually getting a step up.
- Certified Residential Specialist : Agents trained and knowledgeable in buying and selling residential properties. To receive this credential, agents must complete a thorough course on the ins and outs of residential sales.
- Accredited Buyer Representative : Real estate agents specialized in working with buyers. These agents have an in-depth knowledge of helping buyers during every step of the home transaction.
- Seniors Real Estate Specialist : Agents trained and knowledgeable in helping buyers and sellers over 50 years old through the home search.
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Are You A Full
As with many types of jobs, some agents work in real estate as their full-time career, and some are part-timers. I would always recommend working with a full-time agent whose sole focus and attention is on real estate, market conditions and trends all of which are fluid dynamics that can shift weekly, says Katie Severance, a Realtor with Douglas Elliman in Palm Beach, Florida.
Can One Real Estate Agent Represent Both The Buyer And Seller
When the same agent represents both the buyer and the seller in the same transaction, its called dual agency. Dual agency is illegal in some states. And, in states where dual agency is allowed, many agents dont believe its possible to represent both parties interests fully and frown upon the practice. When hiring a real estate agent, its best to go with an agent who will solely work for your benefit.
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Who Will I Work With From Your Team
This question is crucial. Some big agencies will try to do a bait-and-switch on clients. That is, they have you meet with an experienced, highly-successful realtor until you sign on with them. And then your actual representative is someone different with much less expertise.
Clarify with the agent precisely who you will be working with throughout the process. If other team members will play a role, you should know ahead of time. Often, agents have transaction coordinators who assist them, but the agent is still your representative.
Years In Business And Reputation
Becoming a real estate agent is a popular career choice, but it also has one of the highest failure rates, as people dont realize how much work it is. Usually, an agent who has been in the industry for at least three years has a good handle on the process and a number of closings under their belts. If you choose to go with a newer agent, make sure they have completed closings already, and that theyre being guided by a more experienced agent.
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