1. Can you provide a current resume? You are hiring someone for an important job that requires skills in many areas. Education, work experience and references are just as important in a real estate agent as they are in any other financial, sales, marketing or project management position.
2. Are you a full-time agent? A part-time agent puts you at a disadvantage in terms of your ability to compete with other buyers and sellers. It limits speed of action and knowledge of changing conditions.
3. How many purchase and sale transactions have you completed? A minimum level of expertise is generally acquired after closing about 20-30 transactions of various types.
4. What percentage of your total transactions are: buyer-side, seller-side, high-end, mid-priced, condos, single family homes, etc.? The answer to this question indicates the agent’s range of experience and the ability to adapt to different deal and personality types.
5. Describe your negotiation strategies and describe how they might change based on circumstance. Good agents will adjust their strategies based on the personality types involved in the transaction and the supply and demand of a property.
6. How do you manage your work week? A good agent has solid time management skills.
7. Provide an example in which you protected a buyer or seller from risk. Agents can use past experience to highlight the potential risks and rewards of different buying decisions. A sophisticated analysis of the right data can help you evaluate risks related to pricing, timing, competition, supply and demand.
8. What are the newest and most effective trends in home marketing and buyer services? You will benefit from an agent who understands the current buyer’s mind-set as well as how to list and market a home.
9. Explain the most recent changes and trends in the real estate industry and financial markets that will impact my transaction? The best agents are on the pulse of all things real estate.
What questions have you asked or thought about asking? What do you look for in an agent? Let us know below!