Are you planning on buying or selling a home? There are some key questions that you must ask realtors to understand how they work. Hearing the realtors’ response will uncover their ability to work with you and help you achieve your goals.
Ask these questions to distinguish the best realtor for you.
Question #1: Do you make all your income through real estate sales, or are there other sources of income for you?
This question will make you understand a realtor’s motivations. It encompasses how they work and the amount of work they are willing to give.
Being a real estate agent is tough; it can be all-consuming. Ensure that if you put in an offer, your agent will be around and able to help you out full time.
In our brokerage, everyone's full time. This is what we do. This is the strength that we have in helping our clients to move up and find the best home for their family.
But not all great realtors are full time. There are some incredible part-time agents out there who are really good at what they do. They love their jobs so much that they just want to do real estate on the side. You just have to understand where they're coming from.
Question #2: If I was to search for you, your team or your brand online, where would you be found? If we were to list our home with you, where would it be found, and how will buyers find it?
This is an important question to ask when engaging with a realtor. If you can't find their brand and listings online, how will buyers see your house?
Besides MLS, your house should also be pushed out to many different online platforms. Buyers must be able to find your home easily. Searchability is vital in any kind of listings.
Asking this question will help you understand a realtor’s marketing prowess. If they're having a hard time working themselves, how are they going to work in your house?
Question #3: What areas do you primarily work in? If it's an area that you don't know well, what research do you typically go through to help you understand what the market is like in that area?
An agent should have a process and know how to do quality research in any area. Ask them about this question, and you can quickly determine if they have an established and efficient process.
At Chamberlain Real Estate Group, all our agents know exactly how to research unfamiliar areas. We know the kind of stats we need to look for.
We can make a detailed comparison of different properties. We use several marketing tools to present data to our clients to make them understand the market better.
Question #4: How do you focus on adding value instead of cutting your commission?
This interesting question will foster a very fantastic conversation. Even if you are looking for the best deal or the cheapest commission, you have to know how someone will add value to the transaction.
Interview your realtor about how they add value to the buying and selling process. Understand what they're going to do and how they're going to do it. When you hear and understand exactly what that person is saying, you can then negotiate commissions.
These are the four questions that you should be asking an agent when you're interviewing them, and you're trying to decide who you're going to work with. These questions will help understand an agent’s position, strengths, abilities and what they can offer to you as a client.