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If you've ever hired an employee in your company or home, you know how important interviews are. The employment interview is an excellent model for selecting a realtor. Most realtors will quiz you about your dream home, your move-up plans and so on. In addition to answering these inquiries, you need to ask some questions of your own.
Question 1: How long have you been in the real estate business? Do you work in real estate full time?
Real estate is a complex business. Experience and commitment definitely count. Agents who have been in business a decade or longer are survivors. They've seen all kinds of market conditions, and they have worked with all kinds of buyers and sellers. On the other hand, new agents, have fresh ideas and enthusiasm. Your best bet is to hire someone you feel the most comfortable with. Most important, however, is that they are active and full time in the real estate business. Part timers are a dying breed, and you won't get full service from someone who's partially occupied elsewhere.
Question 2: How many buyers/sellers did you work with last year? How many of them bought/sold a home through you?
The gap between high and low productivity in real estate is extremely wide. An average agent closes 10-15 transactions a year, while a mega producer closes ten times as many. Slower producers aren't operating as efficiently as their higher-volume competitors, but they will have more time to spend with you. The choice is yours. The agent's conversion ration is revealing as well (percentage of prospects that result in a commission). You don't want to hire someone who misreads market conditions or fails to motivate people to make decisions.
Question 3: How many assistants do you work with and what do they do? How long have these assistants been with you and what experience or training do they have?
A few years ago, it was unusual for a real estate agent to have an assistant. Today, the heavy-hitters have whole teams of buyers' specialists, administrative assistants and so on. The advantage of a team is that you'll have a bunch of specialists to help you. The disadvantage is that you may not be getting the full attention of the actual salesperson you chose. You may be the type of person that feels more comfortable with a one-on-one relationship. Be sure to find out exactly what your agent will be doing for you and what will be delegated to the staff.
Question 4: Do you have any designations, certifications, or special training?
Professional agents learn as much as they can about the real estate business. The amount and type of education an agent has completed will give you clues about their commitment to the business and breadth of knowledge. Be sure to find out what on going training is being provided to the agent by the company to keep them up to date with industry changes.
Question 5: How long have you been with your current brokerage? Do you intend to change your office in the next few months?
It's not unusual for real estate agents to change brokerages throughout their career as they become more experienced and have different business needs. Be wary of an agent who office hops too often however, and avoid anyone who will be changing offices during the next few months. An agent on the move will be distracted. Also ask whether the agent is planning to take a vacation. A long weekend might not be a problem, but if an extended trip is on the schedule, find out what arrangements will be made to meet your needs while the agent is away. Find out what kind of back up and support is available from the company.
Question 6: How do you keep in touch with your clients?
Most people have a preferred method of communication, whether it is a note left on the kitchen table, a telephone call, or an email message. Find out how, and how often the realtor typically keeps in touch with buyers and sellers. If they prefer to send email, but you want to be called on the telephone, the two of you would need to work out an agreeable communication plan.
You should now have a good idea of how and why it is important to get as much information as you can before choosing a salesperson to represent your real estate needs.
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Copyright ©2009 Peter Kunz. All rights reserved. |
Royal LePage Partners Realty is an independently owned and operated brokerage. |
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