10
Questions To Ask Your Realtor®
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1. Are you
a full-time professional Realtor®?
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 Realtor® 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®'s 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 Realtor® 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 Realtor® 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®'s 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 Realtor® to help you buy a home can be very similar to
interviewing someone to work in your office. Contacting a
Realtor®'s 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 Realtor® to offer a
performance guarantee. Sometimes you may find a Realtor® who is
willing to guarantee that if you are dissatisfied in any way
with their service they will terminate your listing agreement.
If your Realtor® does not have a performance guarantee available
in writing, it is not an indication that he or she is not
committed to perform. Realtors® at Keller Williams® Realty
understand the importance of win-win business relationships, and
that the Realtor® 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 Realtor® commissions through
the listing broker. Sometimes, Realtors® 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). |
