Friday, July 12, 2024

How To Interview A Realtor

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What To Wear To Work For A Real Estate Job

How To Prepare For Interviews (Real Estate Brokers)

As you begin a new career as a real estate agent, you may not be sure what to wear to work. Dressing appropriately is important for almost every job in which you work with clients in a professional setting.

What you wear to your real estate job may vary depending on what you plan to accomplish that day and where you will be working, but you should always dress in a neat, clean, and professional manner.

How Many Homes On Average Do You Sell Each Year

Selling property is one of the primary roles of a real estate agent. Your answer shows what your experience is in the industry. This answer is your chance to demonstrate how many homes you have sold and what type they were. Even if you have not sold a large number of homes yet due to being new in the industry, you can always highlight the positive aspects and talk about the most impressive examples you have.

Example: I sell an average of 50 homes each year, including mid-range and luxury homes. I have experience selling in this market to new and growing families and am very familiar with the neighborhoods in the area. I use my expert knowledge to make homebuyers feel comfortable and confident during their search.

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Question #: How Will You Vet The Buyer

Want to reduce your chances of having your offer fall through?

Then you need a good agent who knows how to vet the buyer.

This is the number one reason why youll see a home go back on the market after it was pending.

There are usually two reasons why this happens:

  • The buyer wasnt able to get financing
  • The buyer backs out during their inspection contingency period
  • Heres how a good agent can vet a buyer for financing:

    • Make it a requirement for the buyer to submit their pre-approval letter with the offer

    A key question a realtor can ask the loan officer is this:

    Whats the buyers debt-to-income ratio?

    All lenders have a maximum ratio. If a buyer is not able to obtain financing, this is usually the reason.

    Knowing the buyers ratio up front lets you know that the buyer meets this qualification.

    It can also help in negotiating.

    If your realtor knows the buyers debt-to-income ratio up front, then the buyers agent cannot use this as an excuse as to why the buyer cant come up in price.

    You want the answer from the real estate agent youre interviewing to include how theyre going to make sure the buyer is qualified.

    But you also want to hear about their approach to minimizing the chances of a buyer backing out during their contingency period.

    Sometimes there is nothing you or your realtor can do to prevent this.

    But there are two things that can help:

  • Have inspections completed before selling
  • Make sure the buyer is aware of whats in the inspection reports
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    Question #: How Long Have You Been A Real Estate Agent

    As much as enthusiasm and passion a beginning real estate agent might bring to the table, when it is time for contract negotiation, it will be the experience of the agent which will bring the deal to a successful close!

    The more contracts a real estate agent has written over the years, the more experience he will have in detecting, avoiding, preparing, anticipating potential pitfalls! As any experienced real estate agent can attest to, theres no such thing a simple contract every contract is unique and will require a customized legal frame work, making sure the terms and conditions of the deal are ironclad!

    Of course, youll always have these superstar agents who are making a killing in their first year of real estate, but those are rather the very, very exception to the rule!

    The other nine questions below will filter through whether youre dealing with such a super-talented agent or just a fly-by-night individual!

    How Can I Communicate With You

    5 Questions to ask a Realtor in an Interview : Real Estate ...

    When interviewing a realtor, it is also important to ask how you can contact your agent on a regular basis. If you like a particular agent, he or she must provide the best means for constant communication. Buying a home entails back and forth consultations sometimes every single day.

    You can ask the realtor whether he or she is available for calls and at what specific times. You can also ask for an email address or instant messaging contact details. Dont forget to inquire about his or her average response time and if they work during the weekends.

    Prompt communication is crucial in closing a real estate deal and an agent must relay information quickly so that closing moves along at the expected pace. This way you can get things done faster. Sticking to an agreed timeline would also benefit all parties involved.

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    City Vs Rural Locations

    The way you dress may depend a lot on the area where you work. If you work in a larger metropolitan area, youll want to dress in more formal business attire on a daily basis, compared to working in a small rural town, where you may dress in a more relaxed fashion.

    For example, in a highly visible position in a larger city, youll need to dress the part even if you have a light schedule. Although you may not be meeting with any clients on a particular day, your colleagues may be, and it’s important for the entire staff to project a competent but conservative image.

    What Are The Selling Features Of My Home

    Every home has selling features.

    It doesnt matter if the home is in great condition or a fixer-upper.

    Or if the schools have high scores on or below-average scores.

    A realtor who knows how to get top dollar will find positive selling points and will use them when marketing.

    For example, the two selling features for a home in need of work could be the following:

  • Lower price, which means lower monthly payments and lower property taxes
  • The opportunity for the buyer to add their own artistic touch
  • A good agent will do their homework before meeting with you and should be able to tell you the features they would use as selling points.

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    What Questions Should You Ask A Real Estate Agent When You Interview Them

    Whether you’re interviewing a real estate agent to help you buy or sell a home, you should ask them basic questions like:

    • What’s your availability like?
    • Whether or not you’re pre-approved for a mortgage
    • What neighborhood you’re interested in
    • What kind of house you’re looking for

    If the realtor thinks they can help, interview them using our questions for buyer’s agents to make sure they’re a good fit for you.

    If you’re a seller, you should tell a realtor:

    • Where your home is located
    • When you’d like to sell your home
    • If you’re aware of any repair issues with the home

    If the realtor is interested in representing you, interview them using our interview questions for listing agents.

    How To Select A Real Estate Firm

    How to Interview a Realtor: The Tough Questions to Ask

    Even if you are considering a particular real estate firm, it’s recommended you interview with several before you make your final decision. The following tips can help you determine the right agency:

    • Notice which for-sale signs are most common in your desired work location. The firm with the most listings isn’t necessarily the best place for a new agent, but because of their strong presence in the local market, they should be considered a potential employer.
    • Pick up local real estate publications such as the free magazines available at supermarkets and other businesses, and examine the ads that stand out.
    • Check your local Chamber of Commerce or city visitor’s center. Search for firms that provide handouts to potential residents. Find out if they are promotions for individual agents or for the agency in general, which benefit all agents.
    • Look at television, radio, and other advertising to see what agencies dominate those areas.
    • Ask a few local agents which agencies they recommend, of course, recognizing that real estate agents may favor their own firm.
    • Check the internet for popular real estate sites such as Zillow and Trulia to see which real estate firms are selling properties.
    • If you’re in a small market, talk to them all.

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    What Percentage Of Your Business Is Working With Home Buyers

    While most agents help both home buyers and sellers, the very best tend to specialize in one or the other, since the specialities are quite different. To buy a home, you should team up with a buyers agentsomeone who specializes in working with home buyers. A listing agent, by comparison, focuses on working with home sellers. Look for an agent with a buyer-to-seller client ratio of at least 7 to 3, or ideally higher.

    Whats Your Marketing Plan

    Dont work with a listing agent who seems like theyll have a passive approach to marketing.

    Your listing agent should present you with a detailed plan for selling your house. This might include:

    • Running paid ads on social media
    • Hosting an open house
    • Reaching out to other local agents
    • Staging your home

    Top listing agents are savvy marketers who can get as many eyeballs as possible on your home, which means theyll do more than put up a sign in the yard and list the home on the Multiple Listing Service .The MLS is the shared online database where real estate agents list houses.

    In a competitive real estate market, marketing your home might not require as much effort, but it could still help if you want to get the best possible sale price.

    Pro tip: If youre comparing 23 listing agents who all seem like a good fit, find out if any of them offer additional marketing services like:

    • Drone photography
    • 3D tours of the homes interior
    • Custom websites to promote your house

    Perks like this dont necessarily mean that youve found a great agent, but they can be a good differentiator when youre choosing between realtors.

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    Heres What You Should Find Out Before Selecting An Agent To Sell Your Home

    Laura GaskillNicholson Builders1. What is your experience and education?real estate agent2. Is this your full-time job?3. Are you a member of the National Association of Realtors?4. Whats the price range of most of the homes you have sold? 5. How many homes did you sell last year? 6. Which neighborhoods do you primarily work in? 7. How many homes have you sold in my neighborhood? Cassie Daughtrey Realogics Sotheby’s Realty8. On average, how close to the asking price is the final sale price on homes you have sold? LINCOLN BARBOUR STUDIO9. How will you market my home?MLS10. What are the negatives of my home? Hudson Place Realty11. Do you work on your own or as part of a team?12. How many clients are you currently representing?stirling group inc13. What type of support staff or resources do you have? 14. How will you keep me informed about progress? AGOSTINI PHOTOGRAPHY15. Can I see your references? Angela FlournoyTo sum up: Sarah GreenmanMore

    How Much Is Your Commission

    Ask these questions when interviewing real estate agents ...

    Realtors earn commission a percentage of the final sale price for every transaction, whether theyre assisting a buyer or a seller.

    Listing agents take this commission from the proceeds of the sale and split it with their broker, and the buyers agent and their broker.A broker is a licensed real estate professional who oversees real estate transactions. Legally, all real estate agents must be sponsored by a broker.

    A listing agents commission is typically 2.53%, as noted in the listing agreement they give you, but you can actually negotiate commission.

    You may be able to get more value from a realtor if they accept a reduced commission.

    Some agents might not like lowering their fee because theyll earn less money at the end of the sale, but others might be willing to budge if it means theyll earn business.

    If an agent refuses to reduce their commission, try negotiating with other local realtors before you pay full price.

    Alternatively, our friends at Clever Real Estate can pre-negotiate a reduced listing commission for you, so youll pay just 1% in listing fees instead of 3%.

    On the sale of a $300,000 home, that adds up to $6,000 in savings!

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    Get Ideas When You Compare Agents

    Interviewing more than one real estate agent can be valuable just to get different ideas and strategies for marketing, negotiations, financing youll accept, contract clauses, home staging advice and any repairs you may or may not make. Real estate agents are experts in the field. They know better than anyone the ins and outs of market fluctuations, and about how to buy or sell a home.

    Whats The Best Way To Contact You

    Within reason, your agent should never be out of touch, especially in a competitive market where waiting even an hour for a response can mean the difference between getting and losing a home. According to the NAR, 93% of Realtors® prefer to communicate over text messages. But that might not work for you, so let your agent know now before an urgent situation arises.

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    How Does Your Commission Work

    As with any financial transaction, get a good understanding of how your agent is compensated before entering into a relationship with them.

    Typically, buyers do not pay agent commission fees. Fees are paid by the seller to their broker, and then the commission is split with the buyers agent. The percentage varies by agent and market, but is usually around 6% for both the buyers agent and sellers agent commission.

    Selling Your House How To Interview A Real Estate Agent

    How to Interview a REALTOR when SELLING a Home

    Selling your home is one of the biggest financial decisions youll make in your life. When its time to sell your investment, dont entrust it to just any real estate agent. Yes, your friend just used so and so and their house sold super quickly. Those glossy postcards you get in the mail from that one agent, they look so slickthey must be successful, right?

    Recommendations are a great first step in gathering a pool of real estate agents to interview, but youre going to have to do the real work yourself. Youll need to interview a few real estate agents to find the one thats going to be the right fit for you.

    I just sold my house . Did I ask the real estate agent I hired all of these questions? No. Did I ask him some? Yes. Should I have asked him more? Yes. Luckily I stumbled upon a great real estate professional and it didnt matter that I didnt due 100% of my due diligence. Looking ahead to the next time I need to sell and need an agent, these are the questions I would ask.

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    Finding Synergy With Your Real Estate Agent

    Obviously, buying or selling a home is a business transaction. You are looking for a professional service when comparing agents. You could be married in this business relationship for a while. You want them to do a good job and save you as much money as possible.

    From the pre-listing stage and preparing your house for sale through fielding offers, negotiations and coordinating the transaction, and maybe even re-selling or leasing afterwards, youll want someone on your side. You want to get along well enough to make it through the length of your listing agreement and the sale at the minimum.

    You want to make sure you agree and that they will represent you in the strategy you are using. Will they be happy to list and proactively sell your home? Or do they have their own opinions about what you must include and the types of offers they will pass on to you?

    Have A Few Minutes Left

    If you find yourself with extra time, it never hurts to ask what havent I asked you that I need to know? This question allows the agent to deliver information they feel valuable.

    Honestly though, if you managed to go through all of the previous 16 questions there shouldnt be much more left to cover.

    When all is said and done and youve hung up the phone, you need to ask yourself if this is the right agent for you. Do you feel comfortable with their personality? Were they prepared, clear, and direct about their approach to handling your business?

    Youre already talking to some of the best agents in your areayou just need to decide who youd like working with most.

    Trust your gut and pick someone you feel comfortable working with and sharing the intimate details of your financials with.

    Top Burlingame, CA luxury real estate agent Pam Zaragoza says, have to have a level of trust in , almost as if you were dating or engaged, because youre sharing a lot of information with them.

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    Lets Get Down To Basics

    The beginning of the call is the best place to get to know the agents business and how well they know the area. Youre listening for things that signal experience, knowledge about the area, and workload.

    How long have you been in business?

    The agents answer to this question will give you some clue to their track record. If theyve been in business a long time, you know theyre managing a stable and respectable business. They probably know the area really well and theyll have a deep network of agents and other real estate professionals to draw from during your work with them.

    On the other hand, if theyve only been in business a few years, theyre likely hungry for your business. A young, scrappy, real estate agent with strong performance data may fight harder for you but may struggle with nuanced roadblocks that come up.

    How well do you know the area?

    Heres your chance to test them on their knowledge of your real estate market. Ideally, your agent will have lived in and around the area for a long time. Theyll know all the hidden gems, theyll know the buyer taste trends, and theyll have a firm grasp on housing market and economics data.

    What sets you apart?

    How many clients do you represent at a time?

    The subtext in this question is simply: will you make time for me and my needs? You want to get the agent to divulge information about how they handle their workload and get a good idea about their teams capacity to meet your needs.

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