Share Time For Each Other Youve Been Held Responsible For A Problem That Wasnt Your Fault
I accept responsibility for my teams overall performance as a team leader. However, when something occurs, you are called upon to respond even if you are unaware of the circumstances. When I queried why one of the staff members was missing on my vacation day, he said he had contacted me. I was held accountable by the HR department for the absence of a staff member since I failed to alert them. I informed HR that I could not attend work and that I did not have access to my emails. When questioned for proof of the correspondence, the staff member said they didnt have any.
Interview Questions Real Estate Brokers Should Ask Agents
Bringing a new real estate agent into your brokerage or onto your team requires a commitment of time, resources, and energy. Its important to know that the agent you choose is up for the challenges ahead and ready to hit the ground running without a lot of handholding and babysitting.
These ten interview questions should give you a good sense of where agents are in their professional journeys and whether or not theyre a good fit for your organization.
What Markets Are You Currently Serving
Part of your strategy as a broker should be to cover a variety of geographic areas, , and price points through the real estate agents on your roster. It doesnt make much sense to bring in someone who is already working areas that are being covered by your other agents. You dont want to encourage unhealthy competition among your agents or concentrate all of your resources on the same small micro-market.
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What Is Your Target Market & Niche
Good answer:Our business niche market is condo owners, and heres why
Proceed with caution:Well, we dont have any niche market we serve everyone.
Brokerages must carve out a niche and target market to position their firm as the go-to brand for a specific audience. It builds their reputation over rival brokerages and results in a more concentrated business. Focusing on a specialized marketfrom your unique value proposition to your content marketing effortsmakes it easier for agents and brokerages to attract the right customers.
In this context, having everyone or no target market or niche is detrimental to sales and company growth. If you dont know your target audience, you wont be able to utilize language or address the issues that are most important to clients. Your marketing, website content, and ad campaigns will be less successful.
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.
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What Is The Biggest Challenge You Foresee In This Job
An unpleasant customer is one of the most difficult aspects of this profession! The best way to deal with them is to never let anything get close to your heart. If their feedback is accurate, include it in front of them, and they will undoubtedly leave a positive review at the end of their transaction. I used to get offended when someone said anything harsh, but through time, Ive learned to swallow the criticism and not take it personally. I now make it a point to concentrate on my responsibilities and provide as much comfort to the visitors as possible.
Poor performance owing to a lack of skilled staff is the other significant difficulty I see in our business. This position necessitates the hiring of skilled and experienced candidates. Property selling and renting is a specialist profession, and those who work in it should know about finance, accounting, legal, and decision-making. Decisions should be taken only after thorough consultation with experts in the domains covered. Property companies nowadays do not make such investments. This might pose a major problem, resulting in the companys demise or bad customer service.
What Are Your Current Marketing Strategies How Successful Have They Been
Job One for a real estate agent is bringing in new clients. In order to build a robust and resilient business, agents should have a variety of ways to obtain and nurture leads. In addition, they should be tracking each of their marketing efforts to find out whats working, whats not, and what adjustments are necessary.
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Determine The Questions You Plan To Ask The Brokerage
As you research each real estate brokerage, youll naturally think of some questions to ask during your interview. Make sure you write down any specific thoughts, questions, or concerns you develop during your research so you can discuss those openly with the broker. In addition, plan on some specific questions to ask every broker you interview.
A few questions we recommend asking include the following:
- How many agents at this brokerage work part time and full time?
- What is the average income of your agents?
- Does your brokerage host social gatherings?
- What are the brokerages short- and long-term goals?
- What kind of training and mentorship opportunities are offered?
- What kind of software or technology is provided?
- What is the commission split structure?
Being prepared with the right questions for a real estate interview will be essential in order to gather important information. Make sure you dont miss any important information by reading and downloading the top 24 most critical questions to ask a real estate broker.
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What Questions Do You Ask Clients To Make Sure Their Needs Are Met
When you meet with a client for the first time, you will need to ask them certain questions to begin the house buying or selling process. You may have a list of specific questions that help you connect with your client on a more personal level and help you best determine their needs versus their preferences. Use this interview question to discuss the early part of your process and demonstrate how you connect with clients to personalize your service.
Example:âI typically begin a client relationship by having them fill out a general survey to collect necessary information, such as budget, location, number of bedrooms and bathrooms, home size, family size and many others. This process takes just a few minutes for clients and I use it to guide my initial conversation to further refine their listing options.
âAfter the survey, I ask them to describe their ideal home, what they believe they cannot compromise on and what three adjectives they would use to describe their dream home. These questions allow me to personalize my search and select homes that may have factors they didnât think to consider, such as the type of plants in the yard and how much sunlight comes into the living room during the afternoon.â
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Do You Prefer To Work Independently Or As A Part Of A Group
You should be able to work on your own. Surely, you will have an opportunity to use the offices of the agency, and you can get some inspiration from your colleagues, but at the end of the day thats not where the money is made.
Youll be alone on the phone, on the streets, and in the houses of potential clients. In the most important moments, such as when trying to close the deal with the potential buyer, you cant count on anyones help. Ensure the interviewers that you prefer to work independently, that you do not struggle with motivation and do not need supervision.
* Special Tip: Download all questions in a simple one page long PDF, and practice your interview answers anytime later:
Describe A Time You Failed In This Role And The Lesson You Learned
Humans are prone to mistakes, as we usually remark. Ive made mistakes before in this field, but Ive always learned from them. Failure teaches us something. Fraudsters prey on this business, particularly in high-end homes. I leased a house to a customer only to be raided by security officials seeking the tenant. He had, unfortunately, utilized forged documents and certifications. Its tricky for us to locate the terrible man. Ive learned that its critical to do further investigation, even if authorities are required for your and your propertys protection.
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What Is Your Marketing Game Plan
A thoughtful marketing game plan thats documented for review is ideal, says Horner. Agents should provide a timeline for your sale based on the current market and a detailed outline of the marketing campaign crafted for your home.
As part of that marketing plan, youll want to know whether the agent will offer such services as professional photography, videography and flyers. Are staging services an offering they provide? Discuss open houses and private showings will feedback be shared? says Horner. She also recommends asking about how they would market your home digitally. What online presence are they offering? Website, online syndication, social media exposure?
What Methods Do You Use To Sell Homes Online And Via Social Media
To market my houses, I utilize my website, Facebook, and Instagram. To guarantee that the properties seem great on the Internet, I always engage expert photographers to capture them. Last month, one of my postings got 50 Facebook shares and 30 Instagram comments, which was a new high.
Furthermore, I invest in monthly social media marketing specifically targeted toward my potential homebuyer. This marketing approach has resulted in a 10% rise in revenue over the last nine months.
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Model Association Executive Interview Questions
1. Please describe your experience at managing association meetings. What elements have you incorporated into a successful membership meeting or conference?2. Describe the steps you have gone through to organize and promote a networking seminar with a guest speaker for 100 members. 3. With a rather small staff, our Association Executive must manage various administrative duties. Describe your management style, including:
- Your system for staying organized
- How you manage emails and regular mail
- Your tech skills with email, spreadsheets, word processing, etc.
- How you have divided administrative tasks between staff and volunteers in the past
Is There A Chance To Be Mentored
As a rookie agent, having a mentor will be one of the most important tools youll ever have. A mentor who is familiar with your industry and target market will be able to provide you with incredibly relevant and useful advice to help you learn more rapidly. Some brokerages provide a six- to a 12-month mentoring program.
Even if there isnt a structured program, there may be chances for mentoring. Inquire about the brokers leadership style and management experience. A managing broker that takes joy in their teams performance is a solid predictor of a high-performing real estate firm. Rittenberg, for example, explains her experience as follows:
Before joining Coldwell Banker, I managed sales offices for two national franchises, owned and operated two independent real estate companies, a mortgage company, and a real estate licensing school, and prior to joining Coldwell Banker, I managed sales offices for two national franchises, owned and operated two independent real estate companies, a mortgage company, and a real estate licensing school. This business, our agents and support team, and Coldwell Bankers Core 4 Values are all things I like. More significantly, Ive put up an unrivaled leadership team dedicated to assisting our agents and helping them reach their full potential.
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What Is The Average Income Of Your Agents
Good answer:Many of our full-time agents make between $70,000 and $100,000 per year.
Proceed with caution:They probably all make $50,000.
A real estate agents income highly depends on various elements, such as niche, years of experience, and how many hours they work a week. According to the Colibri Real Estate survey, agents putting in 40 to 50 hours a week can expect to make around $113,054, and agents who work between 51 to 59 hours a week can expect to earn approximately $143,469.
As for the experience factor, a real estate agent in the middle of their career might earn somewhere between $149,000 and $164,000. However, for the niche factor, average real estate incomes tend to fall in the $130,000 range. Some niches, like affordable housing, have notably lower incomes, and others, like luxury homes or commercial properties, have markedly higher earnings.
Be careful not to base your entire decision on this numerical figure because real estate agents incomes can have an extremely large gap depending on the hours they work and the effort they put in. Knowing these figures is important for an agents brokerage decision because it will give you an idea about the possible factors that may affect the money you can make.
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
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Lead Generation & Marketing Questions
It is essential that you know the lead generation and marketing strategies that a brokerage uses to build a business. While you will be using your own lead generation strategies, if your brokerage has additional ways to capture and convert leads, they will be helpful in supplementing your business. Also, a brokerages marketing and branding will directly reflect your reputation within the real estate industry. These questions will reveal whether the brokerage has solid lead generation and marketing plans as well as if they can be beneficial for your real estate business.
What Are You Looking For In A Real Estate Agent
Unless theyre a relatively new firm, theyll have a good idea of what they are looking for in an agent. Ask them specific questions about what theyre looking for do they want someone who specializes in vacation properties, an agent who intends to connect with investors, or somebody who knows what school districts parents are looking for? This information will help both of you visualize how you might fit into the organization.
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Imagine That I Am A Client Considering To Purchase The Office Where We Are Right Now Try To Sell It To Me
Role play is a common tool in real estate agent interviews. They may ask you to sell them your mobile phone, a pen or a notepad , or even the entire office.
Many job seekers are scared of similar tests. However, remember that they do not expect to hear a perfect sales pitch from you. They are aware that you do not have all important information, that there is no time for preparation, etc.
What they want to see, however, is whether you have some courage, and arent afraid of making a sales presentation. You can approach the exercise in two ways:
Do not neglect the importance of non-verbal communication. Keep an eye contact, stay positive, make them feel important. If you achieve to do this, you will pass the role play.
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What Does Your Firm Offer To New Real Estate Agents
Good answer: We provide headshots and business cards for all new agents. Also, we offer marketing stipends, free buyer leads, and continuing education courses for credit toward license renewal.
Proceed with caution: We dont provide any agent support. You are on your own.
New and experienced agents entering a new brokerage will need tools to penetrate the market and identify opportunities to help them navigate the industry. While brokerages arent expected to offer anything to their incoming agents, many will include a few items to help get their agents off the ground. Here are some common real estate agent support tools that many firms offer:
- Access to the firms listing
Online Marketing And Advertising
- I have read the Internet is a critical tool for selling homes. How will you market my property online?
This is probably one of the most necessary interview questions you ask the Realtor! You want to align yourself with a Realtor with a strong understanding of online and social media marketing. More than 90% of all buyers find their home online. The Realtor you choose should be marketing your home EVERYWHERE!
- Do you have your own personal Real Estate website for marketing homes, and if so, does it come up in competitive Real Estate searches such as State, City, and the worlds Real Estate or homes?
This is an essential consideration when hiring a Realtor. A top Real Estate agent will invest in having a fantastic website that not only looks outstanding but, more importantly, attracts buyers for local Real Estate searches. Most buyers will type things like the city, state, and the words Real Estate or homes for sale. As an example Hopkinton MA Real Estate.
You want your home in the spotlight, which can be achieved when the agent you select understands search engine optimization and achieves the 1st page of Google rankings for keyword searches buyers most often use.
- Do you have a Real Estate blog to market your clients properties, and if so, is it ranked highly by Google? Do you use your blog as a marketing tool to drive traffic to my home or condo?
- Do you use social media marketing in your business, such as Google Plus, , and , to reach other Realtors and potential clients?
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