Top 4 Questions to Ask When Interviewing a Real Estate Agent

November 27th, 2009 | Author: Vicki Stallings

Because a realtor represents the buyer in the process of finding and purchasing a home, making sure you have competent representation is always at the top of any buyer’s mind. Or at least it should be. Your home is likely the most expensive purchase you will make in your lifetime, and a mistake in the process can lead to financial ruin. Because the real estate agent works for the buyer, it is important to interview them to make sure they will actually earn their commission in the process of representing you. Here are some questions to ask a potential agent during the interview:

How long have you been a real estate agent? This question is important because a brand new agent may spend more time with you as you search for a home since they have the time. But he or she may not be very resourceful because of lack of experience. A well seasoned agent on the other hand may ask you to do some work on your own keeping you engaged in the process. He or she may ask you to drive around on your own and look at the neighborhoods. The real test comes during the presentation of the offer and negotiations after you’ve found the home your dream home.

It is easy finding a home but make sure your agent can draft a contract, negotiate the best terms for you and perform all the necessary and required documentations. Make sure the real estate agent is experienced, educated and knowledgeable in the purchase of homes because a small mistake can cost the buyer a lot of headache, time and sometimes money. Always ask for your realtor’s background, education and experience.

Another question to ask a potential real estate agent is what their strategy is for finding or selling homes? Ask to see something in writing to make sure they have a solid plan. This is important and will help you feel out your realtors level of competence. Also make sure to ask what the realtor expects from you in the process. If he says you should just sit back and do nothing, choose someone else. Buying or selling a home is a lot of work and requires the attention of both parties.

How do you negotiate the best deals for your buyers? Don’t hesitate to ask your agent if he or she will help you decide on a price to offer after you’ve found the home you like. Ask for examples of how they helped buyers to get a good price on their home. Negotiation is tough and is something that can’t be learned in a classroom. Your realtor should have plenty of experience in the drivers seat of the critical offer stages of purchasing and selling a home.

One example is if the buyer wants the seller to pay closing costs and as well as some repair costs. In this situation, the seller may agree to pay one and deny the other. Instead of walking away from the deal completely or agreeing to both, a creative realtor may suggest an alternative option. This option might include the buyer paying for an alternative cost not previously considered, like new appliances etc or increasing the offer price to include that cost. A real estate agents ability to be composed and creative in the hot seat of a negotiation can’t be overstated.

Can you please provide references? References and testimonials are important because they tell you how your realtor will work with you. References come from past clients so when a real estate agent has the knowledge, ability and patience to help families and individuals, they will say so. Good references should say more than just, “great job” or that Tom is a wonderful real estate agent. Look for references that actually say what the real estate agent did that makes them different from others. If the agent is new ask for references from their broker or past employers and colleagues.

Grace Ojuka is a real estate agent focusing on Provo homes for sale. She has been helping home buyers for in the Utah real estate market for over 11 years. She specializes in helping young families make the jump from renting to owning their own home particularly through provo foreclosures and short sales.

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Top 4 Questions to Ask When Interviewing a Real Estate Agent