Important Considerations During the Interview Process

Many of the same questions you would ask when seeking professional assistance in any field apply when you are selecting a Realtor.  Experience and skills, level of service, proven performance, agent reputation and integrity, and brokerage affiliation all matter.  We have highlighted important areas below and provided a few questions to ask each Realtor you interview.

Experience and Knowledge. Real estate experience is not just the number of years in business or the number of homes sold.  Experience is about intimate knowledge of the industry, market, city, and neighborhood.  It’s about leading the right people to the right house.  It’s the skill of negotiating, an ease with legal contracts, and a comprehensive understanding of the business.  Ask the agent a few questions to learn about their background, such as:

• How long have you been in the business full-time?
• How long have you been with your current brokerage?
• What did you do before becoming a Realtor?
• What do you do to improve yourself as a Realtor?
• How many homes have you sold in the last 12 months?
• What have you listed or sold in this neighborhood lately?
• Where’s the nearest coffee shop, park, or elementary school?

Values, Integrity, and Reputation. A good agent looks out for your interest above their own and tells you the truth, rather than what you want to hear. Your agent must also be highly regarded and respected within the real estate community or your home sale and escrow process will suffer.  Sellers should ask:

• Do you generally get along with most agents?
• What would you do if one of your buyer clients is interested in my home?
• What separates you from your competition?

Marketing. There are many ways to attract qualified buyers to your home.  A Realtor should be able to specify how those targeted buyers will learn of and become interested enough to visit your home.  Effective marketing requires agents who are innovative and offer new methods of attracting home buyers.

• How will my home be advertised and where?
• What technology do you use when marketing a home?
• May I see a sample of your marketing materials?
• When can I expect photographs of my home to be uploaded in the RMLS?  Homes with photographs get more attention.
• Tell me about your internet marketing.  Do you have a personal website on which to advertise my home?
• Do you hold open houses?

Performance and Skill. Real Estate is one of the few professions where the cost of service is the same whether the agent has one year of experience or twenty. Choose an agent who has consistently demonstrated high performance and skill, regardless of the market conditions:

• What is your list price to sales price ratio vs. the market?
• What is your average market time vs. the market (number of days to sell a listing)?
• How many expired listings have you had in the last 12 months?
• How do you approach negotiations?  A good agent should have a win/win philosophy: they should help all parties negotiate sticking points and try to have both buyer and seller come out of the transaction feeling good.
• Do you have a list of references with you now?

Communication. Your agent must properly communicate with an array of people (clients, other agents, trades people, title officers, etc.).  You have to feel you can easily communicate with your agent.  Further, they should listen and structure the listing and sales strategy to meet your needs.  Hire a professional who makes it a priority to keep you informed and up to date.  A few good questions to ask are:

• How often and in what way will you keep me informed regarding progress on my home?
• How will other Realtors reach you with questions?
• How do you obtain showing feedback?
• Are you committed to being available, and how will I best reach you (phone, voicemail, assistant, email, text message)?

The Listing Agreement. Every Realtor has their own approach to the Listing Agreement.  Be sure to carefully read the agreement in its entirety and consider the following key questions:

• What is your commission rate?  What if I find the buyer?
• How long is the listing agreement in effect?
• If I don’t like your performance, may I cancel my listing contract?

Strong Support Team. Agents who are dedicated to constantly improving their real estate services will likely have an Elite Team of Affiliated Professionals to assist them in coordinating the transaction, setting up inspections, and financing to best serve your needs immediately.  To assess the depth of quality of the agent’s support team, ask the following:

• Once an offer is accepted, how involved are you personally with the escrow process?
• Do you have a preferred group of inspectors/lenders/transaction coordinators, etc?