Real Estate Agent Interview Questions And Answers
Learn what skills and qualities interviewers are looking for from a real estate agent, what questions you can expect, and how you should go about answering them.
A real estate agent is always on the go, helping clients buy and sell homes and assisting companies in finding office and industrial spaces to buy or lease. Before getting into the real estate business, an agent needs to be affiliated with a broker, also known as a real estate agency.
After fulfilling the requirements to become a licensed real estate agent, how do you become part of an agency? If youre an experienced agent, what should you expect when interviewing to change agencies? Climbtheladder has put together this guide to real estate interview questions you may be asked along with sample answers to help you prepare for your interviews.
Are you a member of any real estate associations?
Employers may ask this question to learn more about your commitment to the real estate industry. They want to know that you are actively involved in professional organizations and associations. When preparing for an interview, make sure to mention any memberships or affiliations you have with local or national groups.
What are some of the most important qualities for a successful real estate agent?
How do you build trust with your clients?
What is your experience with working with clients who are looking to sell their home?
Provide an example of a time when you had to negotiate with a buyer or seller.
How Does Your Brokerage Handle Commission Splits
Every brokerage handles commission splits differently, so be sure to ask for specifics. Typically, brokerages that let agents keep the majority of their commission dont offer much in terms of marketing support, training, and benefits. That might work better for an established real estate professional, but a new agent might want to consider a brokerage with more support at least to get things off the ground.
Will You Lower Your Commission
This question is putting your potential realtor to the test.
Pay attention to how the agent responds.
The ideal answer is an immediate explanation about why that realtor is worth the commission.
You want to hear them put up a fight.
The response you dont want to hear is an immediate yes, Ill lower the commission, or a very weak reply.
Id consider this a red flag.
Why?
Because if that realtor doesnt defend their financial interest, theres an extremely strong chance that they wont defend yours.
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Other Questions You May Face In Your Real Estate Agent Interview
- How do you imagine a typical day in the office?
- Do you have a car?
- Tell us about any relevant working experience you have.
- What are your obligations as a Real Estate Agent? Are you familiar with industry best practices?
- Describe the process of inspecting and appraising a property.
- How do you feel about working in the evening, or on Saturday?
- Do you have any questions?
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.
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The Three Most Common Commercial Real Estate Interview Questions
If you have a commercial real estate interview coming up, the process can be stressful and overwhelming .
Its not uncommon to have a commercial real estate interview last several hours with half a dozen people meeting you at various different times, all with their own questions to help vet you for the team.
So, to help you know what to look for within the wild card of questions that might be thrown your way on interview day, this article will break down three of the most commonly asked questions in commercial real estate interviews today, and how to answer each to put yourself ahead of the pack.
Whether youre interviewing for a real estate analyst or real estate associate role at a private equity, development, brokerage, or lending firm, this article is for you.
And if video is more your thing, you can check out the video version of this article here.
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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Whats Your Marketing Plan Especially Online
Each agent markets a property differently. All competent agents will use the internet to market. Almost universally, homebuyers use the web for searching up properties.
The National Association of Realtors® 2021 Home Buyer and Seller Generational Trends Report states 97% of home buyers used the internet to search for homes.
If people cant find your property online, they wont buy it.
A top real estate agent will have a clear, concise, and proven strategy far beyond placing your home on the MLS and putting a sign in your yard. You should hear words like Google, Facebook, and other major websites and social media platforms. Blog posts dont cut it anymore.
Batterman suggests that your agents marketing plan should include:
- accurate keyword positioning
- streaming walkthroughs of the home
- virtually stages the home with professional photos and video
Questions To Ask A Real Estate Agent
8 Min Read | Sep 22, 2022
Okay, lets face it: Buying or selling a house is probably the biggest financial transaction youll ever make. There are hundreds of thousands of dollars at stake. Thats a lot of money! And because buying or selling a house is so complicated and expensive, having a good real estate agent in your corner is a must.
Youre the boss hereand like any good boss, youll want to interview at least three real estate agents before deciding who will represent you. But what questions should you ask? And how do you know the right answers?
No worries! Weve got 10 questions you can ask potential agents to find out which one is right for you!
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How Many Real Estate Agents Should I Interview
Depending on the size of your local market, you should interview at least three agents so you can compare and contrast what theyre offering. But of sellers who use an agent, 63 percent contact only one, while 21 percent contact two, and 17 percent contact three or more. Its worth interviewing multiple agents so you can find the right person for your needs.
What Kind Of Guarantees Do I Get
Typically, agents should not guarantee that theyll get you in a home or sell your home in a specific number of days. If an agent starts talking about a guaranteed home sale program, its likely a gimmick. If you select that agent, the guarantee could mean youll sell your home for less than its worth or if youre a buyer, youll overpay for the home.
An honest agent will avoid promising things they cant deliver.
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How Many Real Estate Agents Work At This Brokerage
This might seem like a straightforward question, but always ask how many agents work at a particular brokerage. More agents could mean that the firm has more brand recognition, but it might also mean that its more impersonal. Small or boutique firms are great for those who like to work closely with others, but they generally offer less in terms of resources.
How Do You Keep Yourself Organized So That You Never Miss An Appointment And Always Arrive On Time
I utilize a variety of tactics, including the usage of a calendar, to keep organized throughout the week. I integrate my phone with my computer and schedule reminders for 30 minutes before each appointment. Some of my appointments are color-coded to signify the customers Im presently working with, making appointment prep a bit simpler. Then, to ensure that all my information is readily accessible, I match the colors to the files and emails I have on file for that customer.
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Preparing And Staging A Home For Sale
- Can you show me how to make my home more marketable?
A Realtor should be able to give you some simple advice on how to make your home as presentable as possiblethings like whether or not it would be worthwhile to improve or properly staging a home for sale. The general rule on improvements is to make them when they are really going to enhance the saleability or give a significant return on the money spent.
What Percentage Of Your Listings Have Fallen Through
I particularly like this question because if an agents number is higher than usual, it can mean the agent doesnt do a great job vetting the buyer.
A transaction can fall apart for many reasons, but an agent who has a track record of not having to put their listings back on the market knows how to make sure the sale closes.
For me, anything over 5% is concerning.
Of course, the total number of listings the agent has needs to be factored in.
The more homes theyve sold, the better this number will represent how well they do their job.
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Describe Your Daily Routine As A Real Estate Agent
To begin, Ill check and answer any phone messages, email, and traditional mail when Ive settled into my office. Second, I undertake short-term tasks such as writing property agreements and contracts that can be accomplished in a matter of minutes and arranging for longer-term tasks such as meeting with property sellers and buyers/renters. After finishing all that days responsibilities, I depart the workplace for the next day. As a real estate agent, youve had a fantastic day.
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
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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Real Estate Skills List
Here’s a list of real estate skills employers seek in the candidates they hire. Skills will vary based on the position for which you’re applying, so also review our list of skills listed by job and type of skill. Mention these skills during your interviews, and incorporate them into your resume and cover letters.
Real Estate Agent Interview Questions
Real Estate Agents act as the liaison between sellers and buyers. Theyre responsible for the entire sale/purchase process, from researching properties and negotiating prices to promoting through advertisements and coordinating the purchase closing.
Before your interview, make sure youre aware of legislation, as licensure requirements vary per location. In most cases, its also useful to hold a drivers license and be able to work flexible hours. Experience in a similar role is nice to have, but also keep an eye out for candidates with a sales background. Customer service-oriented professionals are usually perfect fits for this position, with the necessary training.
Real Estate Agents work in a very competitive space, so you need a candidate with a dynamic personality who can manage competition. They usually work on commision or have specific bonus programs. Use these questions to find how they work to achieve goals and their past experience with sales quota. To succeed in this role, your candidates must have excellent communication skills and the ability to make attractive oral and written presentations. They also need to have strong negotiation skills to compliment client needs with business objectives. Candidates who have a knowledge of real estate markets and best practices will stand out.
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Top 8 Real Estate Interview Questions
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:
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How Would You Go About Drafting Contracts That Are Free Of Errors
First, contracts are extremely important and should be free of any errors. I would ensure that the agreement complies with the laws governing the property leasing industry and is thoroughly reviewed to ensure no errors in the document. There will be no errors in the agreements due to thorough proofreading.
Question : What Are Your Hours
The correct answer to this question is, I dont have hours. But be reasonable, because your agent has a life outside work too. You should be able to reach your agent for urgent questions by phone during the day and evening hours. Ask them what their policy is if you have to text late at night. When will they get back to you? The sooner the better.
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What To Wear For A Real Estate Interview
When preparing for an interview for a real estate position, deciding on appropriate attire is just as important as familiarizing yourself with the types of properties sold by the agency. What you look like is the first thing the interviewer sees, and in the competitive real estate industry, you need to project a competent, conservative, professional image.
For your interview, that means professional interview attire. Men will need to wear a well-fitting suit in a conservative color, white, or pastel shirt, conservative tie, dark socks, and dress shoes. Women can choose between a pant or skirt suit, blouse , hosiery, and closed-toe pumps. Hair, make up, and purse should be neat and conservative, jewelry minimal, earrings only in ears.
Carry a briefcase or portfolio with your resume, a pad, and a working pen.
Is It Necessary To Conduct A Final Walk
Its not a requirement, but its a darn good idea nonetheless! Final walk-throughs provide buyers with an opportunity to ensure that nothing has changed since their initial visit. If repairs were requested as part of the offer, a follow-up visit is made to ensure that everything is completed as expected and by the terms of the agreement.
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Define The Terms Sellers Market And Sellers Market Respectively
In sellers markets, demand for homes pushes up prices. Some demand drivers are as follows: Economy factors the local labor market heats up, attracting new residents and driving up home prices. Falling interest rates make homes more affordable, attracting more buyers, particularly first-time buyers who can now afford larger homes as their financial costs decrease. If on the fence purchasers feel the trend will continue, interest rate rises may drive them to buy. Buyers desire to act as soon as possible before their buying power erodes. There are fewer properties on the market due to a shortage of new buildings. Existing property prices will rise due to a lack of available inventory.
