Questions To Ask Prospective Realtor – Buying and selling real estate is the biggest transaction anyone will ever make in their life, so hiring a REALTOR® to help you navigate the process is essential.
Real estate agents can help in buying a home by helping to negotiate a fair price between the buyer and the seller. In a competitive real estate market like Boise’s, they can also help guide your offer so you can be competitive in your offer.
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Questions To Ask Prospective Realtor
When selling a home, a REALTOR® can help you market your home to potential buyers and help you rank offers, especially if you receive multiple offers on your property.
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Buy or sell, real estate transactions require attention to detail as there are many moving parts. Therefore, it is imperative that you find a real estate agent who will represent your interests and provide expert advice on how to navigate the transaction process.
How do you find the best REALTOR® to represent you? Recommendations from friends and family are a good starting point, but interviewing agents is essential to understand their experience and connections. It’s also nice to work with an agent whose personality you relate to.
What are the questions to ask before hiring a REALTOR®? We have compiled a list of questions to help real estate agents evaluate the best way to help them buy and sell a property.
Experience matters, so working with an agent with a lot of experience is a bonus. There’s nothing wrong with working with a less experienced agent if they’re part of a team that can help navigate the transaction.
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Working full-time with an agent shows that the person is committed to real estate as a career. While there are good part-time agents out there, there may be reasons why they are only working part-time in the industry.
This gives you an idea of how many deals an agent does per year because you want someone who closes deals.
Some agents only work with buyers and others only work with people selling their homes. Some agents work with both. Depending on your goals, such as buying a home, it may help to decide to use an agent who specializes in buying or selling. There’s nothing wrong with using someone with experience on both sides, as they can provide insight from both sides of a deal.
REALTORS® can earn certifications that show they are specialists in some aspect of real estate. Here are some of the nominations:
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GRI – Licensed, REALTOR® Institute – REALTORS® with this designation have extensive training in sales, professional standards, technology, and legal and regulatory issues.
SRS – Specialist Seller Representative – Awarded to agents who demonstrate expert knowledge and advocacy in dealing with home sellers.
SRES® – Senior Real Estate Specialist – Agents over 50 who have undergone specialized training to ethically serve real estate clients.
It is common for agents to ask clients to sign a contract that lasts for a certain period of time. There are listing agreements and buyer representation agreements. If you are not satisfied with the service, ask if you can cancel the contract without penalty.
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Communication is key, and depending on the market, an agent who sets realistic expectations, rather than being overly optimistic, will be a good guide. Agents who keep their clients set and realistic with their expectations will have a better experience.
Agents may be busy. Sometimes things require an urgent response, so not returning calls, texts or emails quickly can be detrimental. Team support agents can help designate a first point of contact for field inquiries, helping to provide timely responses.
While we’d like to say they’re all honest, some people either don’t have a license or are running a scam.
Questions to ask a buyer’s agent – someone who can help you buy a home. How many buyer customers do you currently have?
Tips For Interviewing A Real Estate Agent
It’s good to be busy, but having too many clients can affect how well an agent serves them. Of course, agents with few or no clients can also be a warning.
If you’re looking to buy a home in a certain area, it’s best to work with a REALTOR® who has helped them buy homes in the neighborhood. This demonstrates knowledge and experience of the market in the area and can provide recommendations for the area.
Along with the question above, it helps you see if an agent is looking for homes in different price ranges or is focusing on specific types of homes. For example, an agent who specializes in million dollar listings will not give the same attention to a client with a budget of $400,000.
Agents who work as a team have people who help with the transaction from start to finish, helping to secure a particular contact.
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Skilled buyer’s agents are experienced in helping clients win bidding wars for coveted homes. They will give you advice on how to structure your bids to increase your chances of success.
How long does a buyer work with you from home viewing to closing?
Sometimes the buying process is a marathon, taking months to complete. Agents who work with buyers for a long time without closing a deal may indicate a lack of negotiation skills or quality of representation.
Real estate agents should have a list of sellers, in repairs, mortgages, etc.
Questions To Ask A Realtor When Buying A House
Questions to Ask a Seller’s (Listing) Agent – Someone Who Will Help Sell Homes. Do you have a reference I can call?
Like buyers, listing agents should have clients who have helped them sell a home, who would be willing to talk to potential sellers about their experiences with the REALTOR®.
Listing agents are compensated similarly to buying agents. You may wonder how they are compensated, who pays them and what is included in that commission.
While many companies will put up a yard sign and list their properties on the MLS, there are other marketing activities agents can do to help get your home in front of as many potential buyers as possible. Knowing who they plan to market your home and what tools they will use can help identify good agents with quality resources.
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Agents who have sold homes in your neighborhood will understand the community and the challenges of marketing a property. They will also know how to market your property to get the most value out of it.
Real estate agents will look at comparables (comparable homes near your home) that have sold in the past few months. By considering your home’s features, upgrades, etc., they will be able to show you a realistic sales price.
There are some improvements and repairs that can be made to a home that will help increase its selling price. An experienced agent can recommend things to improve that will add value to the home.
There are many REALTORS® in the Treasure Valley, all with varying levels of experience. Buying and selling property is exciting and having an agent representing you throughout the process will help make the transaction a smoother one. It is imperative that you work with someone who represents you and your interests and has the knowledge and skills to help you navigate the competitive local real estate market.
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Asking some of the questions above before choosing an agent will help you find the one that best suits your needs. Whether you’re preparing for your first listing presentation, or you’ve passed your first and are suffering from mild trauma, I want to put your mind at ease by sharing some positive news.
According to NAR’s 2022 Profile of Home Buyers and Sellers, 73% of buyers interviewed only one real estate agent when searching for a home, and 82% of all sellers interviewed only one agent before finding the right agent to work with to sell their home.
Why is this such good news for the inexperienced real estate agent? Well, if you’re the first agent to contact a potential client and set up a conversation with them, regardless of your experience, you already have a better chance of winning that client over than the agent who’s been waiting.
Here’s another tidbit from the same report: “When choosing an agent to work with, working with an agent who was honest and trustworthy was the most important factor for buyers, followed by one with experience.” I added the emphasis that you don’t need experience to be honest and trustworthy!
Questions To Ask A Realtor: How To Interview A Real Estate Agent
Before we get into the three critical questions every new real estate agent needs well-rehearsed answers to, let’s talk a little about how your first potential clients will find you. Once you have this information, you can then strategically plan what the customer experience will be and provide another advantage.
Let’s look at some of the methods buyers use to find their agents, listed in the table below. We can then discuss how you can use this information to make a positive first impression
Being relatively new to the real estate industry, you can’t rely on the two most popular methods for people to find their agents: referrals and repeat business.
It makes sense that you are less likely to get referrals because you haven’t developed a customer base yet. However, if you are lucky enough to have some persuasive friends or relatives, then you have inherited some credibility
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