Interviewing real estate agents is a smart idea. What questions should sellers ask their real estate agent?
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How long have you been in the business? Do you work full-time as a REALTOR®? Many years experience is not a guarantee of a great agent, but like many of professions, agents learn through experience. Working full-time as a REALTOR® allows the agent to have the time necessary to help you find a home and guide you through the home buying process.
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Do you hold any designations or have you taken any advanced education classes? Again, a list of letters after an agent’s name does not guarantee you will be working with a great agent. However, designations and advanced classes mean the agent is taking time out of their business schedule to keep up-to-date with law changes, learning ways to better service their clients, learn knew marketing and technology avenues, etc. A learning based agent is never a bad thing!
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How many properties did you sell last year? Getting an idea of the number of properties sold will give you an idea of the agent’s experience.
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What was your average days on market and what was your average list to sell price? For sellers, you want an agent with a low days on market and a high average list to sale price. For buyers, you want an agent that can get you the best terms.
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What is your marketing plan/strategy? For sellers, you do not want an agent that puts a sign in the yard, puts your home on the MLS and prays for a sale. You want an agent that does those things plus is proactive in finding a buyer. As a seller, you may also want to ask about the agent’s online marketing plan, open house strategy, direct mail plan and advertising plan. For buyers, you want to make sure you have an agent that has a good strategy to find you a home. As a buyer, you may also want to ask how many houses you will be seeing, what is the plan for seeing those homes, will you be competing against other buyers and what happens in a multiple offer situation.
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What type of technology do you use? Technology is an ever-changing field! Agents that are up-to-date on the latest technology are usually also up-to-date on what is happening in their market. Also, technology often times makes it faster to find your dream home and easier for you to communicate with your agent. In a fast-paced market, you want an agent that moves fast.
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How will the agent communicate with the client? While there is no right answer to this question, you want to know how and when your agent will communicate with you.
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Can you recommend service providers? The home buying process involves more than just a buyer, seller and real estate agents. You may also need a home inspector, lender, attorney, painter, contractor, pest control company and landscaper.
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What is the agent’s business philosophy? Again, there is no right answer, but you want to make sure you and your agent are a good fit.
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Can you provide me with references? Talk to past clients of the real estate agent to make sure they were satisfied with the agent’s work and ask if they would use the agent again.
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What makes you different from other agents?
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Can I get a sample of the documents I will need to sign prior to having to sign them? Real estate transactions involve a lot of paperwork!! It’s a good idea to review paperwork before you sign it so you have time to digest the information and ask any questions.
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How does the agent get paid? For buyers, the agent is typically paid by the seller through the proceeds of the sale. For sellers, the commission to both agents is paid at closing and deducted from your proceeds. Make sure you know the total percentage and the split to each agent.
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Does the agent have a guarantee? You may start working with your agent and decide your personalities do not fit. Can you terminate your buyer agreement or listing agreement prior to going under contract on a home?
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