Questions To Ask When Interviewing New Real Estate Agents
The purchase or sale of a home is typically the most significant single investment most people will ever make. Moreover, this action will be taken seriously considering the current real estate market’s complexity and rapid change. Finding a reliable real estate agent might be a relief. However, there are more Realtors than ever, making it difficult to choose the right one. There were more than 1.5 million National Association of Realtors (NAR) members as of March 2023. How can you choose the right agent from the many competing for your business? Meeting with at least three potential employees before settling on one is recommended. Here are five questions to ask a Realtor during an interview to help you identify the best candidate for your situation.
Five questions to ask while interviewing a real estate agent
Whether you’re in the market to buy or sell a property, there are a few pieces of information any potential buyer or seller should have. Asking realtors in Denver, CO, these three questions can help you determine if they have the experience, understanding of the local market, and ability to communicate effectively that you need in a real estate agent.
1. How long have you been in operation, and how much money do you make each year?
Understanding a professional’s experience level is crucial before trusting them with your largest investment. It would be best to trust that your Realtor knows the industry and will always look for your best interests and financial well-being. As part of this inquiry, ask the candidate to outline the patterns they’ve noticed in the market and provide sales numbers to back up their recent deals. The supply and demand in the market, the average duration a property is on the market, and the types of contracts that are most appealing to buyers and sellers are all examples of data that might be included.
When and how will we be communicating?
You and your agent should agree on the frequency and nature of progress reports early. You should specify what you want from them and how you prefer to be reached so that things can be straightened out as they go along. You should probably avoid dating someone who would rather text you than pick up the phone and talk to you. You should feel valued and appreciated as a client from signing up with them, whether a buyer or seller.
Thirdly, how often do you serve as an agent?
While some real estate agents make it their life’s work, others only dabble. The real estate market, conditions, and trends are always changing, so it’s in your best interest to deal with a full-time agent specializing in the industry. A person whose mind never wanders from real estate would be the best person to advise you on whether or not now is a good time to buy a property and how much house you can afford in your area.
The goal of most house sellers when selecting a real estate agent is to increase their net proceeds. Naturally curious salespeople take note: here are three questions to ask during the interview.
How much would I ask for if I had to sell quickly if time weren’t an issue?
It would be best to have a good idea of your home’s value before selling it. An inefficient pricing strategy can be distinguished from an overly ambitious one by asking this question. It’s a good test of the agent’s analytical and problem-solving skills in a challenging market. To land a listing, many agents may give unrealistic asking prices to potential sellers. Negotiation will be trickier if you require a range of rates to work with. It is important to inquire about comparable sales and have the agent explain how they were factored into the asking and final sale prices.
Five, what methods will you use to advertise your company?
An agent’s marketing plan should be documented in writing. Based on the current market conditions, real estate agents should outline a plan for advertising your home and a deadline for its sale. In this plan, you should specify whether or not the agency will supply promotional materials like flyers, images, and videos. Feedback from open houses and private showings should be discussed among agents. Ask about the online advertising campaigns they intend to run to sell your home. How much of an online profile do they have? Social media marketing, online publication, and dissemination? All of the above