Monday, January 30, 2023

Questions To Ask Real Estate Agent Interview

Don't Miss

Question : What Would You Emphasise In Selling My House

Questions To Ask A Real Estate Broker as a New Agent

Another way of asking this question is: âWhat is the 30 second pitch for my house?â

Real estate agents will meet a lot of people and have the chance to tell them about your property. You want to hear how they would describe the selling points of your home, to see if you are happy with the way they would market it to prospective buyers.

There is a good chance that if you find their sales pitch compelling, so will prospective buyers.

How Do I Ask Out My Real Estate Agent

Questions to ask Both Listing and Buyer Agents Are you a full time agent?Do you work with buyers or sellers?Do you have referrals from past clients?How much do you charge/how do you get paid?Do you work with a team?How long have you been an agent?Have you sold homes in this area before?.

Local Real Estate Knowledge Interview Questions

When interviewing candidates for a real estate agent position, it’s important to gauge their knowledge of the local area and the state of the real estate market. Their understanding of different neighborhoods and typical rental or buying prices for an area allows them to narrow their property search and find the best options for clients within a quick timeframe. These are examples of interview questions that ask candidates to demonstrate their local real estate knowledge:

  • Based on what you know about this area, what is the best neighborhood to live in, in terms of pricing, amenities and proximity to attractions?

  • In your opinion, what makes our town the best to live in than neighboring towns?

  • What are your thoughts on the current housing market here?

  • What are a few downsides to living in this area and how would you help home-buyers overcome doubts about living here?

Read Also: How To Resolve Conflict Interview Question

Are Real Estate Agent Fees Included In Closing Costs

Yes, real estate agent fees are included in home closing costs. The commission fees are typically 6% of the home price. This commission is split in half3% for the sellers agent and 3% for the buyers agent. Its common for the seller to pay for both agent commissions. In other words, working with an agent is usually free for the buyerwoo-hoo!

What Kind Of Software Or Technology Is Provided

10 Questions to Ask a Real Estate Agent

Good answer:One of the tools we use is Market Leader, which helps agents generate leads and convert them into clients.

Proceed with caution: We dont use technology tools because we dont think theyre important.

Its common for franchise and virtual brokerages to give agents access to real estate tools, such as customer relationship management software, social media management, and task management tools. On the other hand, boutique brokerages sometimes dont have the same level of funding to provide the same tools for their agents. You can be highly successful without every instrument on the market, but make sure you know the essential tools and how your brokerage will help you.

, for example, provides an all-in-one solution for generating leads and converting them into lifelong clients, including a robust customer relationship manager , website, and marketing automation. Furthermore, its website tools are easy to use, its widgets make adding content effortless, and the picture library provides quick access to great stock images. Market Leader also guarantees exclusive buyer and seller leads each month, based on a ZIP code and lead availability.

Read Also: How To Pass A Phone Interview

Question : Using That Sales Method And Marketing Plan What Sale Price Do You Think Is Achievable

This is the question you probably are MOST interested in the answer to! We recommend asking it towards the end of the interview. This is because it gives you a chance to show the real estate agent you are serious and you have done your research.

Warning: There is a dodgy practice amongst the not-so-good real estate agents to try to âbuy the listingâ. That means to quote a high price even though they know it is not achievable, just to get your property on the market.

The most important thing is to ask for examples that they are basing their estimate on. You should also ask for a range: âif everything goes perfectly, what price could you expect and what is the low end of the range, if this was a fire sale?â. Once you have an estimated range from two or three real estate agents, you should have a good sense of what the market will pay for your property at that point in time.

How Well Do You Know The Area

You have a chance to test your real estates knowledge of the market. Ideally, your real estate agent lives in and around the area, and has for a long time.

Theyll have inside knowledge on:

Having knowledge about the area helps with real estate transactions. Its being able to identify what are all the great things about this environment and what expect in the future for this neighborhood, explains Batterman.

You May Like: How To Prepare For Data Analyst Interview

Do You Specialize In Buying Or Selling

Some Realtors may choose to work exclusively with buyers, while others work only with sellers. And some can act as dual agents, representing both the buyer and seller in the same transaction. Dual agency is rare, and its illegal in several states. A dual agent cant take sides or give advice.

The answer to this question will help you get a better idea of whether the agent is attuned to your side of a real estate transaction. Ideally, you want someone who is passionate about your deal, whether thats finding the perfect house with a picket fence or selling the condo youve outgrown.

Recommended: Preparing to Buy a House in 8 Simple Steps

About Building Better Agents

Questions To Ask When Interviewing With Real Estate Brokers In NYC

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

Read Also: Kyc Aml Interview Questions And Answers

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.

How Many Listings Does Each Agent Currently Have

Good answer: We currently have around 10 listings for each agent.

Proceed with caution: Some agents have 20 listings, some have two listings.

A brokerage may have many listings, but the distribution and system used to manage those listings impact the opportunities an agent will receive. While most brokerages have a few top producers, it might be a concern if one or two agents have the bulk of listings and other agents are having difficulty finding any. This might indicate that the brokerage fails to support and encourage its agents.

Recommended Reading: What Questions Will They Ask In An Interview

Professional Knowledge And Experiences Interview Questions

Real estate agents should have a strong understanding of industry terminology that they learned about through previous education and professional experiences as a real estate agent. Asking questions about professional knowledge and experiences helps you determine a candidate’s passion for real estate and their training needs if hired. Here are some examples of questions that highlight knowledge and experience:

  • Can you describe the general negotiation process for home purchases or sales?

  • Have you ever helped a home-buyer determine their mortgage options?

  • How many properties have you helped clients purchase, sell or rent over the course of your real estate career?

  • Can you tell me the difference between a listing agent and a buyer’s agent?

  • What’s one area of real estate you wish you had more experience in?

  • What does the term DOM stand for?

Question : How Long Would You Expect My Property To Be On The Market Before Getting Offers In That Price Range

15 Great REALTOR® Interview Questions

This will more than likely be a range. But it will give you a good idea of their expectations, and you can compare to the average time on the market to understand how quickly this agent is likely to get results.

Typically, the best time to sell a property is within the first few weeks on the market, when the property is ânewâ to buyers. The last thing you want is a home on the market for many months â all of a sudden buyers start to wonder âwhy hasnât that sold yet?â.

You May Like: How To Prepare For Nursing School Interview

What Are The Most Effective Ways To Advertise Real Estate Properties To Prospective Buyers

A successful real estate agent understands how to use the resources available to them. They know how to conduct research, find the target demographic for the property and showcase it appropriately to attract those buyers. They should also know how to create campaigns to increase traffic and generate higher sales volumes. Listen to what types of marketing tools they use and discuss their techniques further after they answer.

What to look for in an answer:

  • Digital marketing skills
  • Experience selling real estate to a specific group of buyers

Example:

Ive had a lot of success placing strategic ads on the agencys website, running social media campaigns for each residence and creating stand-alone feature sheets to give visitors full details when they stop by the property.

How Are Leads Distributed & Qualified

Good answer: We use an automated system that rotates the distribution of each lead.

Proceed with caution: I tend just to give them to anyone near me at the time.

When a buyer or seller contacts a brokerage for assistance, the brokerage has many options for transferring the lead. They can distribute leads by seniority, price point, round-robin, or first-come, first-served basis. How they decide to distribute leads reveals a lot about how the brokerage is managed and if they value fairness and transparency. According to an Inman survey, 60% of real estate brokers believe their firm distributes leads unfairly, so its important to make sure you ask this question.

Follow Up Boss dashboard for managing leads.

Lead distribution systems are beneficial for agents and the brokerage to guarantee clients are well taken care of and agents have sufficient business. Follow Up Boss provides automation tools to generate real estate leads and move them through the sales pipeline. It also offers essential features like workflow automation, allowing agents to engage with leads by sending a follow-up email or a greeting on their birthday.

Follow Up Boss provides a centralized platform to communicate with contacts via texting, email, and an in-app phone, helping agents and teams to keep track of all active conversations.

Also Check: Interview Questions For Employee Relations Specialist

How Will My Home Be Introduced To Other Realtors

This is critical, says Severance. Not only do agents need advance warning that your home will be coming on the market, but they also need to see it in person typically in a private, Realtors-only open house so that they can properly convey enthusiasm for it to their buyers. If they like the home and the price, they will bring buyers in.

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

Questions to ask a real estate broker|super transparent

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

Read Also: How To Interview A Therapist

Question : What Would Your Past Clients Say Your Strengths Are How Would They See You As Different To Other Agents In The Area

All agents are different. That is why there is no perfect single answer to the question: Who is the ideal real estate agent to sell my property?

Beyond their pure track record, there are a number of different factors that come into the question of who is the right real estate agent for you:

  • Personality and rapport: Do you get along well with this real estate agent? Do you feel comfortable with them in your home and showing others around your home?
  • Trust: Is this real estate agent someone who you believe, who you feel you can trust to tell you the truth about your property and what buyers are saying?
  • Individual needs: Does this real estate agent deal well with your particular needs? Some agents are perfect for young couples, others are brilliant with older people â there is no perfect answer.

So, you need to find out what others are saying about this real estate agent. If they say âI go the extra mile to make the process easy for my clientsâ that will resonate with some people, whereas others like the sound of âI give people regular updates and communicate better than othersâ.

What Fees Do You Charge

Closely connected to contracts is the topic of money. How does it change hands? What are you liable for? Real estate agents typically work on commission, meaning they only get paid when they close a deal. What youll pay and when depends on whether youre buying or selling a home.

If youre the buyer in a transaction, the seller is usually responsible for paying commission fees to both their agent and yours. If youre selling a home, youd cover the agents fees, which would be deducted from the proceeds of the home sale.

The typical commission is 5% to 6% of the homes sale price, split evenly between the buyers agent and the sellers agent. So a $250,000 home, for example, would yield $12,500 to $15,000 in commissions.

Recommended: Do You Still Need to Put a 20% Down Payment on a House?

Also Check: How To Write A Post Interview Thank You Note

How Long Have You Been In Business

The agents answer to this question reveals a peek into their track record. If theyve been in business for a while, you can infer that they run a stable and respectable business.

More than likely, the real estate agents know the area well and theyll have a deep network of agents and other real estate professionals at their disposal.

In contrast, a relatively new business might be hungry for clients. A young real estate agent with strong performance data may fight harder for you but might struggle with unexpected roadblocks.

Youll also want to be certain they are a full time, licensed agent. A part-time agent may lack the time, experience, and patience to provide the full service you deserve.

What Real Estate Databases Do You Use

Top Interview Questions To Ask When Hiring a Top Realtor®

In todays digital landscape, theres no shortage of real estate tech from which to choose. However, companies like Zillow and Trulia offer the most popular real estate database platforms.

Its highly recommended that you familiarize yourself with each platform, as well as the market data they convey and how agents use them to connect with potential homebuyers. The brokerage firm may even ask you to show them an online listing just to see how your information is presented.

Also Check: How To Interview Someone Online

How Much Do You Charge And How Flexible Is That

Real estate agents work on commission. The commission pays for the following:

  • agents assistance in pricing your home
  • buyer and listing agent fees
  • negotiating with other parties in your best interest for price and terms

Our Agents Commissions Calculator calculates the national average as 5.8%, but there are many variables at work. Agents are only paid when your house is sold, and will split their commission with the buyers agent and the broker.

To get commission data specific to your area:

  • enter your city
  • check out the rates

You can use this information to get a better understanding of a real estate agents costs.

You should also bring up your personal budget. Ask yourself:

  • how much am I willing to spend
  • on what am I willing to spend

Make sure to be clear on the financial details with your agent to ensure a well-ordered transaction.

As part of their commission, your agent inputs your home into the multiple listing service . is where all agents are in the country, Batterman explains. By ALL AGENTS she means there is bound to be a transaction partner out there somewhere for you, and an experienced agent will earn their commission by seeing the deal through from MLS listing to closing!

More articles

Popular Articles