Tuesday, June 21, 2022

How To Prepare For A Real Estate Agent Interview

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Operational And Situational Questions

How To Prepare For Interviews (Real Estate Brokers)
  • How will you attract new clients to our company?
  • What are the most effective advertising techniques? Explain how you use social media to promote properties.
  • Describe how you inspect a property. What are your main points of focus and what do you ask the owner?
  • When do you identify a purchase closing as successful?
  • What questions do you ask tenants to identify their needs?
  • What documents are required to close the deal and who signs them?
  • Do you use any tools or applications to organize your list of properties?
  • How do you manage your appointments?
  • If you had to sell a property in a neighborhood youve never been before, what would you do?
  • When you advertise a bargain, how do you ensure competitors wont reach to it?
  • A young couple is looking to buy an apartment. What kind of houses would you suggest to them? How would your approach be different from other cases?
  • Do you have a network of mortgage lenders and constructors you collaborate with?
  • What are your obligations as a Real Estate Agent? Are you familiar with industry best practices?

Data On Houses The Agent Sold Within The Past Year

Asking for listing and sales dates and prices will give you a good sense of the agent’s recent success at selling homes. If there’s a big gap between the listing price and the selling price of homes the agent sold in the past year , the agent might be unrealistic when recommending a listing price. Or if the agent’s listings took an unusually long time to sell , this could tell you the house wasn’t priced appropriately .

Of course, if none of the agent’s properties are similar to yours, this might not be a good match.

How To Interview The Broker

A successful real estate career is dependent on your desire to succeed and your willingness to persevere during a slow beginning. The rate of your success will depend on your work habits, but choosing the right agency can help jump-start the process. To determine a suitable agency, it is important to find out the requirements and benefits, as well as any assistance in helping you to succeed as a new agent.

In terms of training, determine the following:

  • What type of training is offered for new agents? If a broker’s answer is none, that agency is probably not the best place to begin a real estate career.
  • Does the firm have a designated trainer, perhaps the broker or another experienced agent who acts as a mentor for new agents?
  • Will you attend classes?
  • If part of a franchise, are there local or regional training sessions for new agents? If so, who pays for the training?
  • How many new agents have the firm hired during the past year? How many of those agents are still with the firm? A revolving door of agents is a red flag.

Sometimes creatively called “opportunity duty,” there may be times you are scheduled and required to work at the real estate office:

  • Are all agents scheduled for floor duty, and if so, how often?
  • Are phone leads, walk-in customers, and referrals given to the agents on duty when those leads come in? If not, how are they distributed?
  • Will the brokerage train you to work the floor?

Recommended Reading: Questions To Ask Cfo During Interview

How You Could Answer:

I think good communication skills are vital to helping someone find their perfect home. I take time to ask questions and listen to what my clients tell me so I can make a good match. I make sure Im familiar with the homes I show, so I take a quick tour and study the MLS sheet before I take a client to see it. Im also empathetic. Ive been in the market for a new home several times, and I know how it feels to be overwhelmed with too many showings and frustrated when youre shown homes that dont match your criteria.

Recommended Selling Price For Your Home

How Much Commission Do Real Estate Agents Make From A Sale ...

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?

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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.

Move Into Your Best Career As A Real Estate Agent With Monster

After you think about how you would answer these real estate interview questions, take the next step in your job search and build your Monster profile. You can upload your resume, which will help recruiters and real estate agencies locate you, and we can send you job listings that match your profile criteria. Its a lot like what you do to find the perfect home for your clientsour job is to find that perfect-fit job for you.

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How Will You Help Me Find Other Professionals

Your agent should be able and more than willing to supply you with a written list of vendors such as mortgage brokers, home inspectors, and title companies. Let her explain who she works with and why she chooses these particular professionals.

Ask for an explanation if you see the term “affiliated” anywhere. This designation could mean that the agent and her broker are receiving compensation from that particular vendor. If so, you could be paying a premium for the service.

Questions To Ask Brokers During A Real Estate Interview

Job Interview – New Real Estate Agent

Since the engagement between a Broker and an agent is slightly different from the employer-employee relationship of most other industries, think of it as working together’ rather than working for. That means youll want to learn a little bit about the brokerage by asking a few questions of your own.

Recommended Reading: Best Interview Attire For A Woman

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.

How Do You Prepare A Property For An Open House Viewing

A real estate agent must have a protocol for best preparing a property for viewing to maximize the selling price. The goal of the question is to determine the candidate’s approach to property preparation. What to look for in an answer:

  • Knowledge of open house preparation best practices
  • Interest in wanting to get the best selling price for a seller
  • Communication skills to arrange any preparation required with the sellers

Example:

“I’ve developed a checklist that I give to my sellers before an open house, so they understand my expectations. I’ll usually visit the property a few days before the open house to ensure things are ready. For example, I…”

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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?

Acing The Real Estate Brokerage Interview

Melbourne, AU Real Estate Agent Human Resources

An interview at a real estate brokerage might seem intimidating. But keep in mind that many people have transitioned into real estate successfully. They had to learn new skills and bring out sides of their personalities that they may never have expressed before. Nevertheless, they did it and are now thriving.

Preparation is key. The more questions you prepare ahead of time, the more straightforward the interview will be, and the more your confidence and personality will shine through. And in real estate, confidence and personality will take you far.

Are you becoming a real estate agent or looking for a new opportunity in real estate? Get in touch with us to begin your journey today.

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How Would Your Coworkers And Clients Describe You

Being capable of building relationships is essential for an estate agent so an interviewer may ask this question to measure your interpersonal skills. Be honest and positive as you consider your answer. Be sure to mention aspects of your personality that show that you’re good at collaborating. Flexibility is another important trait for estate agents that you may want to mention.

Example:’I really enjoyed my coworkers in my previous company. We all helped each other when needed. I think they’d describe me as motivational since I came into the office with a positive attitude and inspired the staff. I was also very successful in finding properties that matched my client’s requirements and they often recommended me to friends. Most often client’s would describe me as hardworking, as I feel it’s important to dedicate myself to search for a home that matches their dream.’

Related:Interpersonal Skills: Definitions and Examples

Recommended Prep Work Before Going On The Market

A good agent will provide specific advice on what would make your house more marketablesuch as a major downsizing of house furniture, yard cleanup, painting, and other spiffing up. In cases of older properties, the agent might suggest you arrange a professional inspection by an experienced contractor so that you are aware of any hidden problems.

Recommended Reading: Questions To Ask The Cfo In An Interview

Describe A Time You Had A Demanding Buyer

A real estate agent must work effectively with all types of clients. The goal of the question is to evaluate the candidate’s ability to handle a complex or demanding client. What to look for in an answer:

  • Interpersonal skills to build rapport and trust with the client
  • Communication skills to fully understand the client’s needs and wants
  • Interest in providing a positive client experience, regardless of demeanour

Example:

“I’ve had several buyers who were very demanding in their requirements. For example, one wanted a particular type of property, and regardless of what I showed them, they didn’t want to see any of my suggestions. I made sure to ask lots of questions to get a sense of what items were essential and what were nice to haves. Once I understood that…”

Does The Real Estate Agent Understand Your Needs

How to Interview Your Real Estate Agent

Real estate agent are always on the lookout for the best deals for their clients. Finding a good deal is great, but understanding your needs is imperative. Before you select a real estate agent, make sure they understand your financial goals. These are important points to bring up to the real estate agent so he can help you achieve your goal

-I want to net $500K out of the transaction after everything-I plan to sell or buy a home within 90 days

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Find A Real Estate Agent With Experience

Just like any profession, before you hire someone, you should take a look at their resume and experience. A real estate agent who understands your type of properties will have case studies and references from former clients whove worked with him or her in the past. Research the properties discussed in each case study to ensure the references and information offered are accurate.

Dont Hire Your Next Real Estate Agent Without Interviewing Them First

Real Estate agents are a big part of the success of your home sale, for the amount you want, and how long it takes to complete the transaction. Dont leave your success to chance by making sure you ask these interview questions for real estate agents.

Theres a reason nearly 90% of sellers use a listing agent: Selling a home takes time, knowledge of neighborhood trends, and negotiating skills. ~

Ask anyone who has ever had a bad experience when selling a home and theyll tell you that a lacklustre real estate agent is a nightmare.

One of the best ways of lowering the chances of getting a bad real estate agent is to ask them plenty of questions. You want to know if this is the person for the job, after all they will be earning a commission for their work and you want to be satisfied.

Below are 12 Interview question

s for real estate agents.

For even more Questions to Ask A Real Estate Agent .

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About Building Better Agents

At Building Better Agents, we are dedicated to helping agents build successful real estate careers. We help agents develop a plan, build a database, and work smarter to uncover the keys to success as a real estate agent. All without cold calling, door knocking, and chasing expired listings. Building Better Agents Leaders Kerry Lucasse and Kary Perry are proud to be agents with eXp Realty.

    Kerry Lucasse

    What Is The Market Value Of My Home And How Did You Arrive At That Figure

    Ask these questions when interviewing real estate agents ...

    Most clients that we meet with today have a pretty good idea of what they would like to sell their home for. A good agent will generally present a figure that is relatively close.

    If their numbers seem to good to be true, or comes in lower than you would expect ask them to show you the comps and explain the reasoning behind the figures they are presenting.

    A good real estate agent will have prepared a detailed CMA before disclosing what they think the value of your listing will be.

    Take into account:

    • Your current local market conditions
    • The condition of your home

    on how this will affect attracting offers from clients.

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    What Types Of Technology Do You Use To Improve Your Selling And Showing Process

    Online media is a common tool that estate agents use to market properties. This is where potential buyers are looking to find houses, so having experience with online listings is essential. You can answer this question by explaining how you make sure all listings are very detailed. This way, buyers have all the information they need before booking a viewing.

    Example:’Using social media has proven to be very successful for me in the past. I always hire professional photographers to take photos of the houses, then share the listings on my social media accounts. Last month, one of my listings got 50 shares and 30 comments on social media. I also invest in monthly social media ads that directly target my ideal homebuyer. I’ve found this marketing strategy has increased my sales by 10% over the past nine months.’

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