1. Is this your full-time job?
Having another job shouldn't necessarily cut a potential real estate agent out of the running, but you need to be aware if this is a part-time gig before committing. Someone who also works somewhere else may be harder to reach and could miss out on opportunities to show your house.
2. How many homes have you sold in my neighborhood?
Good word of mouth tends to spread within neighborhoods, so if your real estate agent has had a lot of home sales in your area, that's probably a good sign. Familiarity with your neighborhood can only help your agent sell your home.
3. How many clients are you currently representing?
There is no magic number to look for here; just use your common sense. If the number is very high or very low consider that a red flag - you are looking for someone with a thriving business who still has time to devote to your home sale.
4. Once the offer is accepted will you be attending all the inspections on my home?
A full service Realtor should be at the home inspection, bank appraisal, etc. You are paying this person a lot of money. Make sure they earn it! They have a fiduciary responsibility to YOU!
5. On average, how many homes do you generally show your buyers?
There are some buyers who believe that real estate agents would prefer to only have to show a couple houses to their buyers before they purchase a home. This is true. In most cases, a great buyers agent will only have to show 5-10 houses to their clients.
Why is this? A great buyers agent will be able to identify their clients wants, needs, and preferences. Sometimes this is able to be done with a simple face-to-face meeting and sometimes after looking at a couple houses. A real estate agent who shows 25 houses to you without narrowing down and being able to identify what you are looking for is wasting not only their time but also yours.
6. How much will I need to spend on advertising, what will I get for how will it help?
Advertising takes place in two forms:
Traditional - newspapers, signboards, agency window display and brochures
Digital - online advertising that reaches clients through their digital device such as online listings on agency and third party websites (realestate.com.au, domain.com.au etc) and e-mail marketing/brochures.
Depending on the type of property and its location, digital media options may be enough - have a look at what similar properties are doing in your area.
For agents across Australia, vendor paid advertising (fondly known as "VPA") is the ideal. The practice, however, varies by market, property type and agent. Will your agent put money on the table for any marketing costs or is it your responsibility? It pays to find out to avoid any surprises. Also, it may be of use when it comes to negotiating commissions. If you bear all of the marketing outlays, the agent may be willing to reduce their rate.
7. How much do you charge to sell my home and why?
The Realtor should be making sure they explain to you how they get paid and what exactly they do for the money earned. Commissions can vary from agent to agent but don't be shortsighted here. If the going rate is X don't necessarily think you are saving money if agent tells you that they will charge Y instead.
8. Are you a member of the National Association of Realtors?
Membership in this professional organization is what allows a real estate agent to use the title Realtor. Being a Realtor means that the person has agreed to follow the organization's ethical guidelines and to keep up with continuing education.
9. Do you have a real estate blog?
Real estate agents love to share their knowledge and expertise. A real estate blog is a great venue to share their wealth of knowledge. Ask potential buyers agents if they have a blog or an example of article they have written. If they provide you a URL for their real estate blog, be sure to check it out. What types of articles have they written geared specifically towards buyers? Have they written articles giving advice for first time buyers? General home improvement articles?
10. How many homes did you sell as a buyers agent last year?
As a real estate agent, representing buyers is different than representing sellers, period. There are different "tasks" that a buyers agent is responsible for during the transaction and the same for the sellers agent. It's important to know how many homes a potential buyers agent sold last year while representing buyers.
11. What makes you different to other real estate agents?
This question will allow the agent to demonstrate what stands them apart from their competition, both as an inpidual agent and as an agency.
12. What would you say if a potential buyer asked:
► How long has this property been on the market for?
► Why is the vendor selling?
► How much will the vendor accept?
Asking these questions is a great way to gauge whether you are comfortable with the types of responses your agent is giving to potential buyers!
13. Will you allow me to terminate the listing contract if I am not completely satisfied?
This is an important interview question because a Realtor that is confident they will get the job done should have no problem with this clause.
14. What is your experience and education?
Though a new real estate agent can certainly be motivated and eager to please, a pro with years of experience will have the knowledge and skill to face unexpected challenges. Taking continuing education courses shows a commitment to keeping up with changes.
15. How long have you been in the business? Is this your full-time job?
Full-time, experienced people generally are the way to go, although there may be nothing wrong with folks who have less experience but know the area very well.
Part-time agents are the best option only if you are looking to buy a home and don't want your search to be too active, the kind of thing where you are moving slowly, happy to see the occasional home that might spur you to act. The problem with part-timers is that they are not always going to be available when you need them. Remember, too, that a real estate agent's life heats up when a sale is pending; if she squeezes in business between a lot of other activities, she may not have sufficient time to handle the demands of the deal at its most delicate time.
16. What methods of communication do you utilize?
One of the biggest complaints that buyers have when it comes to their real estate agent, refers to communication. Whether it is lack of communication or the method, this is an important question to ask. If you prefer to have your buyers agent text message you, it is critical to find out if the potential buyers agent text messages or not. The same can be said for e-mailing as well.
If your desired communication method is not one that is mentioned by the buyers agent, it could potentially lead to issues down the road.
17. What experience do you have in selling homes in my target areas?
Each village, town, and city will have their own property values as well as real estate "trends." In most communities there are some areas that houses are listed and sold within a week of being listed and others that take a couple months. A buyers agent should be able to advise you on what property values and market trends you should expect from your target areas.
Additionally, they should be able to help point you in the right directions to help you determine if the neighborhoods are the right place for you to purchase a home.
18. Do you require a pre-qualification or pre-approval before looking at homes?
Mortgage and financing is a very popular subject when buying a home, especially for the first time. When interviewing a buyers agent, this is a good question to consider asking. The responses that will be received will vary, however, a great real estate agent will answer this question with a resounding "yes." It's critical that when buying a home, a buyer gets pre-approved before looking at homes.
A buyers agent who shows dozens of houses before getting a buyer pre-approved (or at the very least, pre-qualified) is doing a huge disservice to that buyer. It's important that a potential buyer has a strong grasp on the type of financing they qualify for and the amount they qualify for and bottom line, if they are able to purchase a home at that specific time. This can help eliminate disappointment, heartbreak, and also save the a buyer lots of time!
19. How much do you charge? Are you willing to negotiate?
This is an important question. You are not looking for the cheapest agent with this question, you are interested in what is included in their fees! You are looking for a good negotiator and value for money - a good agent will be able to confidently justify their price.
Commission levels vary widely depending on location and state, and there are other ways to negotiate the structure - see our tip below for the latest statistical report on average real estate agent commission to give you a better understanding!
20. Real Property Agent Interview Questions:
► How does your experience and training qualify you for this job?
► What is the KEY item of importance when negotiating on behalf of the County?
► What is a deed of trust?
► What is a reconveyance?
► Tell us about the role you've played in a major purchase?
► What is a permit/license?
► What experience do you have with concessions?
► Describe pre marketing strategy?
► Describe your experience in working with attorneys?
► How do you interpret an appraisal?
► What are the important items in a lease?
► Name the essential items to protect the County in a purchase?
► Do you have anything to add?
21. Sample Real Estate Agents Interview Questions:
► What is your plan to attract new clients to this office?
► Have you ever refused to work with a buyer?
► Who was the most demanding client you have worked with? Were you able to meet his/hers needs?
► What was the last CE course you completed?
► This agency will not provide any money toward your advertising costs. What is your advertising budget and plan?
► Has a broker ever asked you to remove your license from their office?
► How would you attract millennial buyers to this agency?
► Describe your experience with using the MLS.
► Do you have experience getting clients through social media?
► Describe your network in the community. What is your plan to make it even stronger?
► Have you ever worked with another agent (for the buyer or seller) on a deal and been asked to do something you knew to be unethical? How did you handle it?
► Describe your ideal office environment. Do you need a lot of support and resources from a broker?
► How many homes did you sell last year?
► Why did you choose a career in real estate?
► What is your experience working with first-time home buyers? What are some of the biggest challenges involved?
► If you don't make a sale for 6 months, do you have a plan in place to get by until then?
► Are you familiar with client management software programs?
► How many listings did you bring in last year?
► What steps have you taken to increase your personal brand awareness?
► What would your last broker say about you?
► For the sales you made last year, what was the average number of days between getting the listing and an accepted offer?
In life you get what you pay for. Why not hire the best agent if it doesn't cost you more!
23. How will you market my home?
There is a lot more to marketing a house than putting up a for-sale sign on the lawn. In addition to MLS, on how many websites will your agent list your home? Where will he or she look for buyers? A good marketing plan can be what makes the difference between a speedy sale and a home that languishes on the market.
24. Do Name-Brand Firms Matter?
All member agents have access to the Multiple Listing Service, so bigger does not necessarily mean better when it comes to your agent's firm. Supply and demand in your market, the property itself, and the initiative and energy of the agent will determine how quickly your home sells more than whether an agent runs a one-person shop or is affiliated with the local office of a giant national chain.
At the same time, one key factor for any agent is his contacts. If you are a buyer and you hire someone from the firm that has the most listings in the area, you are likely to get a chance to see those houses before they appear in the Multi-List. In a tight market, that can be an advantage.
There is no guarantee that the bigger firm does more business in your area than the mom-and-pop shop, so the agents there don't necessarily have more pull with local bankers. They may have more pull with the local media, however, if they have a big advertising budget; that can lead to better display in the paper, access to television shows spotlighting area homes, and more. And although no one at a big firm would ever admit this, it's no secret that some big firms encourage agents to show prospective buyers the firm's listings first, meaning that a pool of prospects may see your property only after all of the alternatives have been reviewed.
The brand-name shops establish their reputation in your region not because of what happens at the national office, but because of what happens right there in your town. In the area where I Iive, for example, Century 21 seemed to handle half the listings when I moved to town, right up until its primary agent hung out her own shingle with a different firm. Now that firm which had no local presence when I moved to town is a big deal. The moral of the story? It's about the people more than the firm.
25. What are you going to do to help the house sell?
The Multiple Listing Service is a no-brainer. You want to find out if the rest of the advertising will consist of newspaper ads, exposure on a local television show, glossy advertising giveaways or, maybe, a radio transmitter that lets passers-by get a description of the house 24 hours a day.
Agents are paid to market your house; if they don't have a marketing plan, you'd be better off doing this yourself.
You also want to know if they will help you "stage" the home for sale, either themselves or by bringing in an expert, possibly for an additional fee. There are plenty of things you may love about your house that a professional seller will tell you are turn-offs for would-be buyers. Will your agent give you suggestions, or will she get in the trenches with you and help you dress things up to put the best foot forward in an open house?
