Top Real Estate Agent Interview Questions
Thanks to our years of experience, we have put together a list of ten questions that will enable you to discover the best real estate agent for your needs. During the process, you may find that more questions arise due to the discussion. Feel free to ask as many questions that you need to, until you are satisfied with your meeting. It will help you determine their skill level and experience, as well as give you an insight into their knowledge of the property market. It will also act as an ice-breaker so you can decide whether you are going to entrust your property in their care.
Can You Hire Multiple Realtors
In short, yes. You can hire as many real estate agents as you want. Unfortunately, there arent nearly as many benefits as youd expect. Most realtors will provide you with their full attention and services, only if you are committed to them.
This means that youd have to sign a contract with that agent and solely them. The only benefit from having multiple agents is if you are selling your property in one location and buying in a different location. Even in this situation, you should notify the agents to make sure your broker-to-buyer agreement reflects this.
Many realtors have the same tools for finding potential houses for your wants, so having multiple agents will not speed up the process for you.
What Can You Expect From A Real Estate Agent
Simply put, real estate agents help you buy or sell a house. The best ones work in real estate every single day as their full-time job. If youre selling your home, a sellers agent should help you with a bunch of things, like deciding on the right price for your home, arranging for a home inspection and guiding you on what to fix, identifying how to stage your home for buyers, creating a marketing strategy to find buyers, helping you pick the right offer, negotiating the best deal, and walking you through the closing paperwork.
If youre buying a house, a buyers agent should help you find a home for sale in your price range, research neighborhoods for best fit, attend open houses and showings, make a competitive offer within your budget, negotiate the contract, handle the home inspection, and gather all the paperwork due on closing day.
About the author
Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners. Learn More.
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Interviewing Real Estate Agents: Example Questions And Tips
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed’s data and insights to deliver useful tips to help guide your career journey.
When working at a real estate firm, you may have the opportunity to interview candidates for real estate agent positions. Your ability to prepare for interviews and engage with real estate agent candidates will enhance your hiring decisions. By reviewing examples of real estate agent interview questions, along with interviewing tips, you can find the best ways to prepare for and conduct a real estate agent interview.
In this article, we cover who interviews real estate agents, explore why it’s important for the interviewer to prepare, list tips for conducting real estate agent interviews and provide a variety of example questions to help you properly evaluate a real estate agent candidate.
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S To Become A Real Estate Agent:
How to become a real estate agent the steps to make it happen.
Usethe helpful advice Matt provided in the interview and be sure to follow where he posts awesome videos & content as a family man real estate agent!
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Covering How Agents Work
The middle of your phone interview needs to focus on the task at hand. You might be buying or selling a home, but all that matters are results.
After your phone call you need:
- a firm understanding of the agents locating or strategy for your home
- all contact information for your agent and team
- an agreed upon line and frequency of communication
- an understanding of the complete process from start to finish
Thats why youll ask them the following questions:
Can I Work With More Than One Real Estate Agent
If you’re selling a home, you’ll sign a contract with one agent, and you can’t work with anyone else during the time specified in the contract . If you’re a buyer, unless you sign a buyer’s contract, there’s no law that you must work with one agent. Agents follow a code of ethics that preclude them from working with clients who are working with other agents, and it’s also unethical for a buyer to work with more than one agent.
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Brokers Should Ask Agents These 18 Real Estate Interview Questions
As a broker you obviously want the best team of agents. However, you are an expert in Real Estate investments, not human resources. We created this list of what we believe to be the most important interview questions to ask before taking on a new agent. These questions are designed to give insights into whether this prospective agent would be a good fit, would be productive, and whether youd want to work with them.
How To Interview A Real Estate Agent
Smart sellers and buyers interview potential real estate agents before deciding on whom to hire. Its in your best interest to ask them some or all of the following questions to gauge their knowledge and fit with your needs. Take a look below, and let us know if there are any other questions youve found valuable when interviewing agents.
General Questions For A Real Estate Interview
Though your interview is likely to focus on questions that specifically relate to your skills and experience as a real estate professional, you may encounter more general interview questions that help an interviewer to gauge your personality. Here are some common general questions you may be asked:
Where do you see yourself in five years? 10 years?
Why do you want to work for this company?
Why should we hire you? What makes you stand out?
What did you like most about your last position?
What are your top three skills?
What skills would you like to learn and why?
How would your coworkers and clients describe you?
What questions do you have?
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.
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Question : Whats Your Experience In The Neighborhood
Agents can only learn so much from real estate classes. A good agent should have real-life experience in your area. If theyre new to the business, they should be part of a team led by an experienced local agent who can guide them through the sale.
When asking about experience, look for agents who know the neighborhood and its nearby attractions and someone that can demonstrate the perceived market value of certain features of your home.
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.
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Top Questions To Ask A Broker
While we could go into all 14 questions here, our free questions to ask a broker downloadable booklet is much more portable to use when interviewing a real estate broker! But lets talk about some of the most important aspects to look for in a prospective brokerage. Here are some of the categories well cover in the top questions to ask a broker booklet:
Splits, Costs, and Fees
It isnt ALL about real estate broker fees value is really what you are looking for but you still dont want to be nickel and dimed. Having low fees, higher splits, and lower caps means you can have a higher income immediately as a real estate agent which means you can build a successful career MUCH faster.
When, where, and how will you get any type of support you need? Well cover a few questions to ask a real estate broker to ensure youre going to have the support structure and ample staff available to help you succeed.
Location and Time Flexibility
Where do you have to be and when? Can you log into live training from afar or do you have to commute? What are the office requirements? The questions to ask a broker about location and time flexibility will help with your choosing a brokerage decision making process.
Dig into the formal mentorship program of the real estate broker with the questions we provide to see just how important new agents really are to that company BEFORE you make the jump in!
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 greatschools.org or below-average scores.
A realtor who knows how to get top dollar will find positive selling points and use them when marketing.
For example, the two selling features for a home in need of updating could be the following:
A good agent will do their homework before your initial consultation so that they can tell you which selling features they might use.
What Qualities Make You A Good Real Estate Agent
Certain qualities can help you become a better real estate agent. Use this question to describe what areas you feel you are strongest in and how they relate to the field. One good quality you can state is strong communication skills. You can tell the interviewer how important it is 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: âNot only do I listen to all of my clients, but I take the extra step by looking at the homes on my own first. When I do a quick walkthrough of the potential houses, I can spot details they may like, increasing the chances of my client liking the home. 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 skills allow me to select the best listing to streamline the search.â
Questions To Ask When Choosing A Real Estate Broker And Advice For Newly Licensed Agents
The first step to your successful career in real estate is choosing the right real estate broker to work for and knowing what questions to ask. There are wide differences among real estate brokerages, both in what they will offer you as well as the commission splits, expectations, and culture.
Many new real estate agents base their decision on the best commission split and that usually isnt the best route, especially when you are new to the industry.
We highly recommend that you meet with at least three different brokerages and do your research on each one beforehand . Once you find the three that look the most appealing to you, schedule time to meet and ask the following questions.
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Talk To One Of Our Real Estate Endorsed Local Providers
Want a rock-star real estate agent who gives you the right answers to all of these questions? Do you want someone with the heart of a teacher who will walk with you through the process of buying or selling a house?
Then you need one of our real estate ELPs. They sell more houses than 90% of the agents in their markets. Theyre rooted in and invested in the communities they serve. You cant beat their customer service, and we make sure theyre the best of the best. Otherwise, we wouldnt endorse them. Its free to get connected. Simply enter your contact info and well give you a list of the top agents in your area.
Interested in becoming an Endorsed Local Provider? Let us know.
About the author
Ramsey Solutions has been committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development since 1992. Millions of people have used our financial advice through 22 books published by Ramsey Press, as well as two syndicated radio shows and 10 podcasts, which have over 17 million weekly listeners.
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Prepare For The Interview Questions
When you interview with a brokerage, you will be meeting the team that dictates the businessâs direction. During your interview, they will ask you questions to learn more about you.
What they are looking for is your passion behind your career.
Questions like âWhy are you interested in us,â âWhy real estate,â or âWhere do you see yourself in 5-yearsâ are common questions that come up in an interview because they help vent the applicants.
Brokerages seek people who have the drive to excel in their careers and help generate revenue.
You donât need the experience to show them passion.
Becoming your authentic self by answering these questions honestly will help them understand who you are, which is the goal of the interview.
Donât be afraid to show them your personality and who you are â so long as you remain professional.
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Recommended Selling Price For Your Home
A real estate agent might come to your meeting with a comparable market analysis of homes similar to yours that are either on the market or have sold within a reasonable recent time period . A CMA should also include comparable houses that were listed but expired .
Of course, the agent might justifiably wait to actually tour your house to prepare the CMA, but you can certainly ask for a ballpark estimate of selling price at that time. Also, when it’s close to the date you actually list your house, the agent will update the CMA and suggest a range of prices.
You’ll want to ask lots of questions about the CMA and make sure you feel the listing price seems reasonable. Unless it’s a seller’s market, with little competition and lots of buyer demand, be careful not to overprice the house. Underpricing is usually less of a concern, as prospective buyers will spot a bargain, swarm in, and drive the price up. Whatever you do, don’t choose the agent who thinks they can get the highest price for your house! They might be just trying to get your business with big promises.
Also do your own homework on home sales, by checking out websites containing real estate listings, such as www.realtor.com, by the National Association of Realtors , and websites that collect data on actual selling prices, such as Zillow or Trulia. For more on the subject, see Listing Your House: What List Price Should You Set?
The Answer You Get Needs To Be Backed By Data
The realtor youre interviewing should present you with a comparative market analysis .
This is an analysis your potential listing agent will put together that compares your property to the best recently sold homes .
What you want to see is a breakdown of how your house compares to each recently sold property.
Heres an example of what this comparison might look like:
This type of real estate analysis is what youll see on an appraisal report.
It includes home value adjustments for the key differences that can impact your potential selling price.
The ones that have the biggest impact are:
- Proximity to road noise
The answer you get will immediately give you a glimpse into how savvy the real estate agent is before hiring them.
This is important because if their answer is vague and doesnt include data like this, theyre likely either inexperienced or intentionally inflating their price to secure your business.
I would consider this a red flag.
You want the answer from the listing agent youre interviewing to include data from comparable sold homes that back up their price.
If it does, then you know they can use that same data when negotiating for you.
Pro tip: Some experienced real estate agents have the know-how to use this data against you.
They do this by convincing you that they can magically sell your home for a price too good to be true.
So be cautious if the agent is recommending an asking price that seems inflated.
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