Questions To Ask A Realtor When Selling Property – When selling your home, choosing the real estate agent that represents your interests is one of the most important and one of the first steps in the process. Unfortunately, many marketers don’t realize how important this is, or think it is. There are certain things you should expect from your real estate agent when selling your home.
A word of advice if you are thinking of selling your home, don’t hire a real estate agent just to be your friend or co-worker. Every property is different, period. There are many consumers who believe that all properties are the same and that they all do the same thing to sell a home, which is far from the truth! Every real estate agent runs their business differently, advertises in different places and uses different sales techniques.
- 1 Questions To Ask A Realtor When Selling Property
- 2 Questions To Ask A Commercial Real Estate Broker
- 3 What Questions Should I Ask A Real Estate Agent Before Hiring Them
Questions To Ask A Realtor When Selling Property
Getting a real estate license is very easy, but being a top real estate agent is not. In many real estate markets the 80/20 theory is accurate and in others it is not! The 80/20 theory simply states that 80% of local real estate business is done by 20% of local real estate companies. This may sound shocking, but in some communities, this ratio can actually be as high as 5.95%, 95% of real estate sales are made by 5% of local real estate companies!
How To Find A Real Estate Agent (for Buyers And Sellers)
So how do you avoid being stuck with one of the factors that doesn’t fall into that 5-20%? Interview, interview, interview! Knowing how to properly interview potential real estate agents can eliminate a problem!
Follow these tips and frequently asked questions when interviewing a real estate agent to sell your home and you’ll be on your way to a smooth and relatively stress-free sale!
This is an interview question you can’t miss! Experience in the real estate sector is very important. In general, the more years of experience a real estate agent has, the more sales they have made and the more likely they are to be exposed to different situations. This is not always the case as there are new real estate agents who are natural superstars and can sell your home better than an agent with 30+ years of experience.
There are many consumers who believe that being a real estate agent is easy money and does not require a lot of effort and time. This is also the furthest thing from the truth. To become a top real estate agent, you must be a full-time real estate agent. A part-time real estate agent, due to their full-time position, may not have enough time to make calls to show inquiries from other agents or to follow up on inquiries about your property. Hiring a part-time real estate agent is not recommended when selling a home, and don’t forget to ask this question during the interview.
Questions To Ask A Realtor When Buying A House
Don’t let a real estate agent who works primarily with buyers fool you! There is a difference between helping a buyer find a home and representing a seller selling a home. When asking a potential real estate agent during an interview how many homes they have sold while representing a seller, they should determine whether they primarily work with buyers or sellers. Top sales representatives from manufacturers should have a minimum ratio of 60/40. 60% or more of your sales represent sellers and 40% or less of your sales represent buyers.
One of the worst nightmares when selling a home is thinking that your home will sit on the market for months and months. When interviewing real estate agents, ask them how long it takes on average for their listing to reach an acceptable contract.
To no one’s surprise, a seller is asking top dollar for their home. An important interview question to ask your potential real estate agent is the relationship between list price and sale price. Many sellers make the mistake of hiring a real estate agent who “buys a listing.” An agent who “buys listings” will list a home well above current market value, just to get a deal, only to continually “beat” the seller to lower the price later. By asking this question during the interview, you greatly reduce the chances of this happening, as a top selling home should have a list price to sale price ratio of 95% or more!
This interview question is a good indication of the real estate agent’s level of success. If a real estate agent tells you when you interview them that they have a pending deal, chances are they are not a top producing agent. A top selling home should always have more than 10 selling transactions.
Questions To Ask A Commercial Real Estate Broker
The Internet has a huge impact on the real estate industry. Any real estate agent or person who says that the Internet is not an important part of selling real estate either does not understand the power of the Internet or has not adapted and is not being honest. Before interviewing a potential real estate agent, “Google” their name. The estate agent must be introduced
! Since 90% of home buyers start their search on the Internet, it’s important to ask a real estate agent during the interview how they market their homes for sale on the Internet, and there are several things to consider here.
There are too many real estate agents who do not have their own real estate website. Finding out if a real estate agent has a website is a very important question to ask during an interview. Not only is it important that the real estate agent you choose to sell your home has their own website, but also that they rank prominently in search results.
For example, if a potential buyer or seller is looking for information about the local real estate market in Penfield, New York, they will most likely search for “Penfield New York Real Estate Market” or similar terms. It is very important that the Realtors website is on the first page, and at worst, the first few pages.
Questions To Ask A Realtor Before Selling Your Home
Blogging is very popular in many industries and the real estate industry is no different. A blog gives a real estate agent the opportunity to write about frequently asked questions from buyers and sellers, current real estate topics, and most importantly to you, the home they are selling. Don’t forget to ask the potential real estate agent if they have a blog during your interview.
I’m sure you’ve heard of Facebook, Twitter, Pinterest or Instagram, right? Of course you have! During the interview, be sure to ask the real estate agent if they use social media and what sites they use. One job of real estate agents when selling a home is to give their clients as much exposure to the home as possible. By using specific social media websites, a real estate agent can give their clients more exposure than real estate agents who are not active on social media.
Have you ever looked at a property online and wondered, “How can someone take such terrible photos?” Yes, I sure do. Taking great property photos is not a feature of all properties. Some real estate agents have this feature, but they don’t have the right equipment to guarantee high quality photos. Ask potential real estate agents what quality cameras they use to take photos of the homes they sell. It should be a high quality camera with high quality lenses, not a $50 digital camera.
Pricing a house is not as simple as throwing a dart at the board, and whatever price it lands on is what will appear. There are several methods a real estate agent can use to price a home. Two common pricing methods include comparative market analysis (CMA) and price per square foot. In most cases, the comparative market analysis technique is the best way to determine a home’s list price. During the interview, all potential real estate agents should have a sample market benchmark for you to look at. Pay attention to the amount of detail the real estate agent uses in their analysis because the more detailed the analysis, the more time and effort they put into pricing their homes.
What Questions Should I Ask A Real Estate Agent Before Hiring Them
Ask prospective real estate agents for testimonials from previous selling clients. This should be a very easy request as most top real estate agents will have certifications on hand or on their website.
It is not always possible to have the opportunity to speak with a previous potential real estate client. During the interview, ask the realtor if they have any contact information for previous selling clients they would be willing to talk to about their experience. If possible, be sure to take advantage and contact that previous client, this is a great opportunity to “hear from the horses mouth” about their experience working with the prospective realtor.
The biggest complaint from sellers and buyers is the lack of communication with their real estate agent. Another important interview question is related to the frequency of communication. See that they communicate with their sellers from time to time so that your expectations are not disappointed in the future.
Each property coordinates the display of its listings differently. Some agents have showing services, administrative assistants, or even other real estate agents who handle showings. During the interview, ask who coordinates the shows.
Reasons To Fire Your Realtor (and How To Do It)
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