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1. Are you a full-time professional
RealtorŪ? How long have you worked full time
in real estate? What professional
designations do you have? |
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Knowing whether or not your RealtorŪ
practices real estate on a full-time basis
can give you a piece of the puzzle in
foreseeing scheduling conflicts and,
overall, his or her commitment to your
transaction. As with any profession, the
number of years a person has been in the
business does not necessarily reflect the
level of service you can expect, but it is a
good starting point for your discussion. The
same issue can apply to professional
designations. |
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2. Do you have a personal assistant, team,
or staff to handle different parts of the
sales transaction? What are their names and
how will each of them help me in my
transaction? How do I communicate with them?
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It is not uncommon for high real estate
sales producers to hire people to work for
them or with them. They typically work on a
referral basis, and, as their businesses
grow, they must be able to deliver the same
or higher quality service to more clients.
You may want to be clear about who on the
team will take part in your transaction, and
what role each person will play. You may
even want to meet the other team members
before you decide to work with the team
overall. If you needed help with a certain
part of your home sale, who should you talk
to and how would you communicate? If you
have a question about fees on your closing
statement, who would handle that? Who will
show up to your closing? These are just a
few of the many important considerations in
working with a team. |
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3. Do you and/or your company each have a
website that will provide me with useful
information for research, services, and how
you work with buyers? Can I have those Web
addresses now? |
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Many homebuyers prefer to search online for
homes and home buying information. There are
certain privacy and comfort levels that you
might appreciate in starting a preliminary
search this way, and often it is just a
matter of convenience, having 24-hour access
to information. By searching the Realtor'sŪ
and the company's Web sites, you will get a
clear picture of how much work you would be
able to accomplish online, and whether or
not that suits your preferences.
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4. How will you keep in contact with me
during the buying process, and how often? |
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It's a good idea for you to set your
expectations reasonably in accordance with
how your RealtorŪ conducts business. You may
be looking for an agent to call, fax, or
email you every days to tell you about
prospective buyers who have seen your home.
On the other hand, your RealtorŪ may have
access to systems that will notify you
automatically each time a new visitor tours
your home (which could happen several times
a day or several times a week). Asking this
extra question can help you to reconcile
your needs with your Realtor'sŪ systems,
which makes for a far more satisfying
relationship. |
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5. Can you explain one thing that you do
that other agents don't do that ensures I'm
getting top dollar for my property? What is
your average market time versus other
agents' average market time? |
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Marketing skills are learned, and sometimes
a real estate professional's unique method
of research and delivery make the difference
between whether or not a property sells
quickly. For example, an agent might
research the demographics of your
neighborhood and present to you a target
market list for direct marketing purposes. |
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6. Will you give me names of past clients
who will give references for you? |
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Interviewing a RealtorŪ to help you buy a
home can be very similar to interviewing
someone to work in your office. Contacting a
Realtor'sŪ references can be a reliable way
for you to understand how he or she works,
and whether or not this style is compatible
with your own. |
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7. Do you have a performance guarantee? If I
am not satisfied with your performance, can
I terminate our listing agreement? |
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Understand that, especially in the heavily
regulated world of real estate, it can be
increasingly difficult for a RealtorŪ to
offer a performance guarantee. Sometimes you
may find a RealtorŪ who is willing to
guarantee that if you are dissatisfied in
any way with their service they will
terminate your listing agreement. If your
RealtorŪ does not have a performance
guarantee available in writing, it is not an
indication that he or she is not committed
to perform. RealtorsŪ understand the
importance of win-win business
relationships, and that the RealtorŪ does
not benefit if the client does not also
benefit. |
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8. How will you get paid? How are your fees
structured? May I have that in writing?
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This is an issue that can also be related to
agency. In many areas, the seller still
customarily pays all RealtorŪ commissions
through the listing broker. Sometimes,
RealtorsŪ will have other small fees, such
as administrative or special service fees,
that are charged to clients, regardless of
whether they are buying or selling. Be aware
of the big picture before you sign any
agreements. Ask for an estimate of costs
from any agent you contemplate employing.
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9. How would you develop pricing and
marketing strategies for our home? Will you
commit to the marketing strategy in writing?
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Pricing a home correctly is the single most
important factor in determining if a home
sells quickly, or at all. Although location
and condition also effect the selling
process, price is a primary factor. Access
to all current property information is
essential, and sometimes a pre-appraisal
will help. Ask your agent where he or she
obtained the information to create the
market analysis, and whether your agent
included For Sale By Owner homes, foreclosed
homes, and bank-owned sales in that list.
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10. What will you do and what will you not
do to sell my home? Who determines where and
when my home is marketed/ promoted? Who pays
for your advertising? |
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Ask your real estate agent to present to you
a clear marketing and advertising budget,
and how those dollars will be spent. Ask if
there are other forms of advertisement/
marketing media that are also available but
not mentioned in the budget/plan, and who
pays for those. Request samples of the
various media that your agent proposes (such
as Internet Web sites, print magazines, and
local publications). |
