1. Tell me how many top agents do you have?
Top agents generally sell more than 15 homes in a year. Pay attention to them in sales meetings to learn the most.
2. Tell me how accessible is management?
Will you be on your own a lot, or will the sales manager be readily accessible? How often is he or she in the office and can you get a hold of them whenever you need to?
3. Explain me examples of marketing materials available to me?
You will need to see for yourself what type of marketing service is provided through the company's design department, if they have one. Determine how often you intend to use graphic design services for postcards, business cards, online advertising, etc. and get an idea of what the company expects of you and how they provide you with the resources you need to get your marketing handled.
4. Tell me what commission level are you prepared to offer me?
Do yourself a favor – don't ask about commission until the very end of the interview. Your commission split may be negotiable and dependent upon how the manager has determined what your business growth rate will likely look like in the next six to 12 months. Asking this question too soon in your interview can be detrimental; you may unknowingly set yourself up for disappointment when you force the manager to provide you with a low-risk response before either of you have a chance to understand what you can offer to each other.
5. Tell me how would you build a client base?
The candidate should provide an outline of what previous marketing plans they have implemented.
6. Tell me how do you find seller leads?
It's a sellers market, your lead should have a strategy in place to find and convert seller leads. Possible answers might be PPC ads, social media ads, blogging, marketing flyers, print ads, or lead generation services.
7. Do you use any Real Estate databases?
If your brokerage uses any particular online databases, see if this agent is familiar with it or if they have experience using similar databases.
8. Why do you want to join us here ___ brokerage?
The interviewee should have a couple of viable reasons of why they'd like to be apart of your team, such as they enjoy the company culture or they believe their skillset would be beneficial to the brokerage. This would be another oppurtunity for the interviewee to convince you why they'd be a great fit.
9. Do you know how many agents work out of this office?
Camaraderie with other agents is a plus. You will be expected to bring in your own clients and listings, but there is a lot to learn from those around you.
10. Tell me what costs will I incur?
Obtaining your license was the first step towards starting your career. In order to practice real estate sales, you typically need to join your local, state and national Boards or Associations of Realtors, gain access to your Multiple Listing Service, and obtain marketing elements. You may also need to enroll in an Errors and Omissions Insurance policy. The manager should be able to provide you with a breakdown of all costs you can anticipate before providing services as a Realtor.
11. Do you know what is the average income per year of full time agents in this office?
Get a realistic business plan, knowing how many houses you'll need to sell on average to earn a comfortable income. Knowing what the company considers as “average” will give you a snapshot view of what is expected of you, and what the company is prepared to coach you towards.
12. Explain how many leads are you currently working with?
Compare this number to the agents at your brokerage. If they're just starting out, ask how they'd find leads.
13. Explain me how do you find buyer leads?
Some brokers might like an agent whose lead generation matches that of other agents at their firm. Others might like an agent that uses methods they'd like their other agent team members to learn, such as social media, blogs, or search engine marketing.
14. Tell me have you ever fired a client? If so, can you tell me why you did?
When asking this question, prospective agents should
1) provide a professional reason why this lead was difficult to work with,
2) what steps they took to try to repair the relationship before ending it and
3) what they learned from the experience.
15. Explain about a time you worked with a difficult client and how you handled the situation?
The prospective agent should
1) have a reasonable answer as to why a client was difficult to work with,
2) what steps they took to have a better working relationship and
3) what they learned from the situation.
16. Tell us what kind of ongoing education do you offer your agents?
Each state has rules about how many hours of certified continuing education real estate agents need to complete each year. Does the office offer this education to its agents? Who pays for it? Are educational opportunities available beyond what is required?
You may prefer to target market a specific area of homes, only to learn that that particular area is being heavily marketed by other agents. Be sure to make your marketing intentions clear from the very beginning to avoid awkward situations down the road, and to work out a marketing plan with your manager that meets your goals.
18. Explain me did your previous brokerage use any CRM or lead generation systems?
This should give you some insight into which programs they are familiar with and how tech savvy they are. If the candidate is not familar with your CRM, lead generation, or other Real Estate service software program, see if they are eager to learn new programs.
19. Tell us do you have a personal website and/or any IDX homes search sites?
All agents in today's age should have atleast a personal website.
20. Tell us how many homes did you sell last year?
Don't beat around the bush, this question is the equivalent of asking for a pay history.
21. Tell me if you could live anywhere in the world, where would it be?
Let's hope the candidate's answer is the city they'll be serving. Agents should be local experts.
22. Tell me does this office work as a team, or does each agent operate pretty well on their own?
This takes us back to the culture of the brokerage. Are the managers passionate about coaching? Do they take the time needed to train new agents exceedingly well? Perhaps the company thrives off of already-established agents with training and experience already under their belt, and the new agent training program isn't everything you need it to be. See if you can sit in on a training session and find out for yourself.
23. Tell me what is your commission split schedule?
Each company will have its own guidelines governing the way commission is split between agents and brokers. New agents typically receive a smaller split because they require more help from their broker. Your commission split should become greater as you sell more homes and become more independent. There is room to negotiate here, however. Point out to the broker any reasons why you might be more valuable than the typical new agent-maybe you have a large contact list from a previous job to draw on, or you have a successful track record in another sales position.
When a company's overall success and market share is highly competitive with other local companies, you will benefit from stronger corporate support and resources, great brand awareness and a solid professional reputation.
25. General Real Estate Broker Interview Questions:
☛ I am interested in Real Estate Sales (or Property Management). What are my opportunities with your company?
☛ Is the company independent, corporate owned or a franchise?
☛ What is your market share?
☛ How many offices do you have?
☛ How many total agents? How many per office?
☛ What kind of management & systems support do you have?
☛ How is your office staffed administratively?
☛ Do you or your managers actively sell real estate and compete with the agents?
☛ Do you hold office meetings? If so, how often?
☛ Are there any teams that are looking to add an agent?
☛ Would I be paid as an employee or an independent contractor? If independent contractor, may I have a copy of your independent contractor agreement?
☛ What makes your independent contractor agreement different?
☛ How can I review your policy manual?
☛ Do you allow part time agents? If so, what are your requirements/restrictions?
☛ How will you measure my progress/success?
☛ What expectations do you have of me?
☛ How many transactions per year do you expect me to close?
☛ What kind of work space will be available for me?
☛ Do you have conference rooms available to meet with clients?
